State Street ETF posts 102% decade return; PhonePe handles 10.5bn UPI transactions
State Street’s Consumer Staples Select Sector ETF, which includes Walmart among 36 stocks, offers a 0.08% expense ratio and a 10-year return of 102% versus the S&P 500’s 302%. WhatsApp’s new prepaid recharge feature in India challenges Walmart-owned PhonePe, which handled 10.5 billion UPI transactions in March.
1. Consumer Staples ETF Performance
State Street’s Consumer Staples Select Sector ETF tracks 36 recession-resistant stocks including Walmart, Costco and Procter & Gamble. The fund recorded a 102% return over the past decade, lagging the S&P 500’s 302% but offering lower volatility and a minimal 0.08% expense ratio, appealing to risk-averse investors.
2. WhatsApp’s Prepaid Recharge Rollout
WhatsApp has partnered with PayU to enable prepaid mobile recharges for Jio, Airtel and Vodafone Idea directly within its app across India over the next two weeks. This move pits it against Walmart-owned PhonePe, which processed over 10.5 billion UPI transactions in March, solidifying PhonePe’s lead in the digital payments market.