The fund invests in companies with relatively inelastic demand, including consumer goods giants such as Procter & Gamble (NYSE:PG), PepsiCo (NASDAQ:PEP), and Philip Morris (NYSE:PM), to name a few. Even in the face of adversity, the sector has been incredibly resilient, and investing in the right ETFs can help capitalize on the potential for a strong rebound. The fund currently suffers from tepid consumer confidence, marred by rising inflation and interest rates, clouding the outlook for discretionary spending.