This strategy had 48% of its assets in utilities stocks at the end of 2020, a little less than the 52% that the new benchmark had in utilities stocks (per Vanguard data). The MSCI ACWI Energy ...

This strategy had 48% of its assets in utilities stocks at the end of 2020, a little less than the 52% that the new benchmark had in utilities stocks (per Vanguard data). The MSCI ACWI Energy ...

given that energy often outperforms in bull markets and commodity prices should benefit from a weaker dollar. In fact, the Vanguard Energy ETF (NYSEARCA:VDE) actually declined over 6% last year.