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Quarter-End Insights

Consumer Defensive: Some Industries Are Showing Resistance to E-Commerce Threat

Tobacco and alcohol firms are trading below our fair value estimates.

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The consumer defensive sector has lagged market performance this quarter through Dec. 5, returning 3.8% compared with the market's returns of 9.0% (Exhibit 1).

The consumer defensive sector performance has cooled. - source: Morningstar

Erin Lash does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.