Should you necessarily flee a sector when it displays poor stock market performance? Not necessarily. Behind a significant drop may lie deep difficulties, but also stock market valuations that have become more attractive to invest in, provided you are willing to position yourself against the grain.
And in 2026, certain sectors have clearly been neglected in the stock market. This is notably the case for consumer discretionary, luxury, and automotive, all three showing negative performances since the start of the year. These sectors are quite different, but each has its own reasons for disappointing investors.
So, should you stay away or start paying attention? Café de la Bourse revisits what explains these declines, the outlook for late 2026 and 2027, and the ETFs that allow individual investors to potentially gain exposure to these sectors on the stock market.
Top 3 des sectors les moins performants en Bourse en 2026
Consumer discretionary, luxury, and automotive share one thing in common: their activity depends heavily on consumer confidence and spending. Yet in 2026, the context has not really been favorable for them. The return of inflationary pressures and the rise in rates weighed on consumer-focused companies, while Chinese demand remained fragile. In the automotive sector, an additional challenge arose with the rise of Chinese manufacturers, which are gradually gaining auto market share in Europe.
Investors have thus largely favored other stock market themes this year. Result: consumer discretionary shows a stock market decline of about 14%, while luxury and automotive each fall by about 11% according to the ETFs we selected to represent these sectors.
Tableau de synthèse des 3 secteurs les moins performants en Bourse en 2026
| Secteur en Bourse | Performance boursière en 2026* | Principales raisons de la baisse en Bourse |
|---|---|---|
| Consommation discrétionnaire | -14,00 % | Inflation et taux d’intérêt plus élevés, pouvoir d’achat sous pression et consommation moins dynamique |
| Luxe | -11,00 % | Reprise fragile de la demande mondiale, consommation chinoise toujours hésitante et environnement géopolitique défavorable |
| Automobile | -11,00 % | Concurrence croissante des constructeurs chinois, pression sur les prix et les marges, transformation coûteuse du secteur |
*Performances depuis le début de l’année 2026 des ETF retenus par Café de la Bourse pour représenter chacun de ces secteurs. La performance d’un ETF ne correspond pas nécessairement à celle de l’ensemble des entreprises appartenant au secteur concerné.
Les éléments présentés dans ce classement sont fournis à titre informatif et pédagogique uniquement. Ils ne constituent en aucun cas un conseil en investissement ni une recommandation d’achat ou de vente de titres financiers. Enfin, rappelons que les performances passées ne préjugent pas des performances futures et que tout investissement en Bourse comporte un risque de perte en capital.
1. Consommation discrétionnaire : pourquoi le secteur sous-performe en Bourse en 2026 ?
Consumer discretionary is among the sectors that have suffered the most in the stock market in 2026. And this is not very surprising, because when household budgets are under pressure, discretionary spending is often the first to be reduced or postponed.
Clothing, leisure, home furnishings, and certain automotive purchases can thus suffer. The sector has also been penalized by higher interest rates and by a less favorable economic climate for consumption. All these elements have encouraged investors to be more cautious about these stocks.
Key factors behind the decline of the consumer discretionary sector in 2026:
- Inflation has returned to weigh on household budgets. When constrained spending increases, there is inevitably less money for purchases that can be postponed.
- The rise in rates doesn’t help either. Borrowing costs more and this is especially felt on major purchases that often require financing.
- Households also tend to exercise caution. In a less clear economic context, changing cars, refreshing furniture, or multiplying leisure expenditures may wait a few months.
- And this is precisely what makes the sector fairly cyclical. As soon as consumers begin to slow down, some discretionary companies can quickly feel the impact on their sales and results.
Quel ETF pour investir dans la consommation discrétionnaire en Bourse ?
To invest in the consumer discretionary sector in the stock market without having to select multiple individual stocks, you can use ETFs that group together several sector companies within a single fund.
To invest, Freedom24 or eToro offers access to a wide selection of ETFs. The online broker eToro currently charges no commissions on ETF transactions, regardless of order size. However, be sure to verify that the desired ETF is available on the investment platform and consider any other applicable fees before investing.
Sélection Café de la Bourse des meilleurs ETF pour investir dans la consommation discrétionnaire en Bourse
| ETF | Performance 2026* | Frais annuels | Code ISIN | Particularités |
|---|---|---|---|---|
| State Street SPDR MSCI Europe Consumer Discretionary UCITS ETF EUR | -14,75 % | 0,18 % | IE00BKWQ0C77 | ETF exposed to European consumer discretionary companies. Physical replication and capitalized dividends |
| Amundi STOXX Europe 600 Consumer Discretionary UCITS ETF Acc | -10,51 % | 0,30 % | LU1834988781 | ETF tracking European consumer discretionary values. Synthetic replication, capitalized dividends and eligible for the PEA |
Les éléments présentés dans ce classement sont fournis à titre informatif et pédagogique uniquement. Ils ne constituent en aucun cas un conseil en investissement ni une recommandation d’achat ou de vente de titres financiers. Enfin, rappelons que les performances passées ne préjugent pas des performances futures et que tout investissement en Bourse comporte un risque de perte en capital.
2. Luxe : pourquoi le secteur sous-performe en Bourse en 2026 ?
After several years of exceptionally strong performance, luxury is going through a much more challenging period in the stock market. In 2026, the sector continues to be affected by a slowdown in Chinese demand, a market historically very important for European luxury houses. But the problem does not come solely from there. The sharp price increases in recent years have also pushed away part of the clientele, while consumer habits are evolving. Investors are therefore more selective, and not all brands manage to shine in this environment.
Key factors behind the decline of the luxury sector in 2026:
- China has not regained its former dynamism. Domestic consumption remains fragile, and this inevitably affects a sector that relies heavily on Chinese buyers.
- Prices rose a lot in recent years. This strategy long supported the growth of major houses, but it also ended up deterring some customers, especially those who bought luxury more occasionally.
- Consumer expectations are changing. The prestige of a brand or the rarity of a product no longer always suffice: experience, emotion, and the relationship the customer has with the brand take more space in the buying decision.
- And above all, luxury no longer advances in a single bloc. Some houses resist much better than others, pushing investors to become more selective after years of a very favorable sector-wide dynamic.
Quel ETF pour investir dans le luxe en Bourse ?
To invest in the luxury sector in the stock market without having to choose among the different sector values, ETFs allow exposure to several major international luxury houses in one go.
XTB offers more than 2,200 ETFs accessible from its platform. The online broker applies 0% commissions on stocks and ETFs up to €100,000 of monthly trading volume, then a commission of 0.2% with a minimum of €10 beyond this threshold. It will be necessary, however, to verify that the sought-after ETF is indeed available with the broker before investing.
Sélection Café de la Bourse des meilleurs ETF pour investir dans le luxe en Bourse
| ETF | Performance 2026* | Frais annuels | Code ISIN | Particularités |
|---|---|---|---|---|
| Amundi PEA Luxe Monde UCITS ETF Acc | -12,26 % | 0,30 % | FR001400S9V0 | ETF exposé aux principales entreprises mondiales du secteur du luxe Réplication synthétique, dividendes capitalisés et éligibilité au PEA |
| Amundi Global Luxury UCITS ETF EUR Acc | -11,46 % | 0,25 % | LU1681048630 | ETF suivant le secteur mondial du luxe Réplication synthétique et dividendes capitalisés Fonds plus ancien et non éligible au PEA |
Les éléments présentés dans ce classement sont fournis à titre informatif et pédagogique uniquement. Ils ne constituent en aucun cas un conseil en investissement ni une recommandation d’achat ou de vente de titres financiers. Enfin, rappelons que les performances passées ne préjugent pas des performances futures et que tout investissement en Bourse comporte un risque de perte en capital.
3. Automobile : pourquoi le secteur sous-performe en Bourse en 2026 ?
The European automotive sector is going through a delicate period in the stock market. Manufacturers must invest heavily in electric and new technologies, while continuing to monetize their internal combustion engine ranges. At the same time, Chinese competition has strengthened significantly, with manufacturers able to offer electric vehicles at particularly aggressive prices. This pressure comes as the European automotive market remains challenging and consumers also have to cope with high prices. For investors, the equation is therefore quite simple: a lot of investments to fund, fierce competition, and margins that are likely to be under pressure.
Key factors behind the decline of the automotive sector in 2026:
- Chinese competition clearly changes the game. Groups like BYD are gaining ground in Europe and forcing traditional manufacturers to respond, particularly on price.
- Going electric is costly. New platforms, batteries, software, factory upgrades… the needed investments are substantial, with no guarantee that volumes will immediately follow.
- Price wars leave little relief for margins. It’s hard to pass on all costs to customers when rivals flood the market with models at more aggressive prices.
- Car buyers hesitate more before changing cars. Between high prices, more expensive credit, and uncertainties around different powertrains, some households simply prefer to keep their current vehicle longer.
Quel ETF pour investir dans le secteur automobile en Bourse ?
To invest in the automotive sector in the stock market without having to select the automakers or suppliers yourself, ETFs allow grouping several sector stocks within a single investment.
ProRealTime with Interactive Brokers or Trade Republic notably provide access to a wide selection of ETFs. The online broker Trade Republic allows investing gradually through its programmed investment plans (DCA), with execution at no cost. For a one-off ETF purchase outside of these plans, Trade Republic charges €1 in external settlement fees per transaction. It will be necessary, however, to verify that the sought-after ETF is indeed available on the platform before investing.
Sélection Café de la Bourse des meilleurs ETF pour investir dans le secteur automobile en Bourse
| ETF | Performance 2026* | Frais annuels | Code ISIN | Particularités |
|---|---|---|---|---|
| Invesco European Autos Sector UCITS ETF | -13,54 % | 0,20 % | IE00B5NLX835 | ETF exposed to European automobile manufacturers and suppliers Réplication synthétique et dividendes capitalisés |
| iShares STOXX Europe 600 Automobiles & Parts UCITS ETF (DE) EUR (Acc) | -11,67 % | 0,41 % | DE000A2QP4A8 | ETF focused on the main European automobile and parts names Réplication physique, dividends capitalisés et éligibilité au PEA |
Les éléments présentés dans ce classement sont fournis à titre informatif et pédagogique uniquement. Ils ne constituent en aucun cas un conseil en investissement ni une recommandation d’achat ou de vente de titres financiers. Enfin, rappelons que les performances passées ne préjugent pas des performances futures et que tout investissement en Bourse comporte un risque de perte en capital.
Les informations de Cafedelabourse.com et de ses publications sont données à titre pédagogique. Elles ne constituent en aucun cas des recommandations d’investissement. Le lecteur se doit d’étudier les risques avant d’effectuer toute transaction. Il est seul responsable de ses décisions d’investissement.
Les performances passées ne préjugent pas des performances futures. L’investissement en actions présente un risque de perte en capital.
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