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Cooling#73 of 115 by 1M spread

Timber & Forestry vs the S&P 500 (WOOD): is it outperforming?

Over the past month, WOOD has underperformed the S&P 500 by 2.9 points. Here is where that puts it in the sector rotation — updated daily.

1M spread vs SPY
−2.9 pts
Quadrant
Cooling
Momentum
Weakening
RS health
Holding
Holdings P/E
39.1×

Where WOOD sits on the rotation map

Timber & Forestry highlighted against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window — the methodology explains the math.

WOOD vs SPY: head-to-head returns

WOOD (timber & forestry) and SPY (the S&P 500) side by side over every window Zensei tracks. The spread is the difference — positive means WOOD won that window.

Window
WOOD
SPY
Spread
1 week−0.5%+0.5%−1.0 pts
2 weeks−0.3%−1.1%+0.8 pts
1 month+0.9%+3.8%−2.9 pts
3 months+7.5%+2.0%+5.5 pts
6 months−7.1%+12.7%−19.9 pts
1 year−2.6%+19.9%−22.4 pts

Data as of 2026-08-28 · computed from daily adjusted closes · how we measure

The read

Timber & Forestry (WOOD) is losing its lead. It built a 8.3-point advantage over the S&P 500 across the longer, time-shifted window, but over the past month it has slipped 2.9 points behind the market — the Cooling quadrant of the rotation map. Ranked by one-month spread, it currently stands #73 of the 115 groups Zensei tracks.

On the shorter tape, WOOD's momentum is weakening: the intraday trend that carried the move is cooling across the shorter windows. WOOD's relative-strength line is holding around its moving averages — the trend is intact but no longer extending. The longer trend remains healthier than the recent tape suggests — the kind of divergence worth rechecking in a week.

The exposure comes via iShares Global Timber & Forestry ETF, whose 5 tracked holdings are led by WEYERHAEUSER CO, SMURFIT WESTROCK PLC and INTERNATIONAL PAPER CO. Weighted by portfolio, the fund's holdings trade at roughly 39.1× earnings and 2.1× sales. The thing to watch from here is whether this is a pause or a handoff: cooling groups sometimes reset and reclaim leadership, but a deepening one-month deficit usually means rotation has moved on.

What's inside WOOD

Top 5 of 5 tracked holdings, by portfolio weight.

Holding
Weight
1M
WYWEYERHAEUSER CO
7.9%−3.9%
SWSMURFIT WESTROCK PLC
6.4%−4.1%
IPINTERNATIONAL PAPER CO
4.8%−9.8%
SLVMSYLVAMO CORP ORDINARY SHARES WHEN ISSUED
4.3%−6.6%
RYNRAYONIER INC
4.1%−7.7%

Timber & Forestry vs the market — common questions

Is timber & forestry outperforming the S&P 500?

Right now, no: over the past month WOOD has underperformed the S&P 500 by 2.9 points. This page updates daily, so the answer reflects current market data rather than a dated article.

What is WOOD?

WOOD is iShares Global Timber & Forestry ETF, the fund Zensei uses to measure the timber & forestry group against the S&P 500 benchmark (SPY).

Which stocks are in WOOD?

WOOD's largest tracked positions are WEYERHAEUSER CO, SMURFIT WESTROCK PLC, INTERNATIONAL PAPER CO, SYLVAMO CORP ORDINARY SHARES WHEN ISSUED, RAYONIER INC — 5 holdings in total. The full list, with each stock measured against the group, is part of Zensei Premium.

What quadrant is timber & forestry in right now?

As of the latest daily data, timber & forestry is in the Cooling quadrant — still ahead over the longer window, but behind the market over the past month. The quadrant rules are documented on the Zensei methodology page.

Related sectors

Track timber & forestry against the whole market

Zensei Edge maps 100+ sectors and themes against the S&P 500 — with the stocks inside each one, rotation history and alerts when leadership changes hands.