Why you buy Utilities in a slowing growth environment

Utilities have started to outperform, meanwhile other sectors are underperforming. Just looking at history, you only have to go back to 2015-2016's industrial mini recession and EM recession to see how utilities outperformed other sectors. During this time, $XLU rose 25% while the S&P was flat, and technology / other cyclicals were all negative.

Cyclical sectors had their time, now utilities get to shine as other sectors get hit hard.