Investors who havౠe lately turned to consumer staples as a defense against volatility may do so for a while, UBS analysts said.

The (XLP), which tracks staples companies, has outperformed the S&P 500 since late February, rising more than 6% over the past month as the broader index fell. XLP includes businesses that manufacture and sell food, beverages and other household goods, which can appeal to investors seeking t🍷o hedge against uncertainty.

A “flight to safety” isn’t surprising, UBS analysts said, despite concerns that strong revenue in the sector may no longer be a given. Spending trends have moderated in recent weeks, which could be a reaction to poor weather and other temporary dynamics—or a sign of “things to come,” the analysts wrote Monday.

That said, other trends—including some lower commodity prices and a 澳洲幸运5开奖号码历史查询:weakening dollar—may shore up bot♋tom lines🌳, the analysts wrote in another recent note. 

Investor enthusiasm for the sector is unlikely to wane "with many now believing that as long as volatility/uncertainty persists in the market, there will be greater interest in Staples irrespective of fundamentals," UBS analysts wrote Friday.

Staples stocks were among the S&P 500's stronger performers Monday. The Archer-Daniels-Midland Company (ADM), which sells ingredients for human and pet food; Brown Forman (BF.B), the company behind Jack Daniel’s; and McCormick & Co. (MKC), known for spices and sauces, were up about 3 to 4%. Meanwhile, the S&P 500 was off🍃 2%.