FSI Sector Allocation
FSI Sector Allocation
In Depth Sectors
The S&P 500 is comprised of 11 Sectors (GICS Level-1). An investor that buys an S&P 500 Index ETF (ex. SPY) or an S&P index fund is essentially gaining exposure to all 11 sectors according to each sector’s respective weighting in the index. We've included here the ability to drill down and view each Sector, Industry and Stock that makes up the S&P 500 index.
Sectors of the S&P 500
The energy sector consists of all companies that play a part in the oil, gas, and consumable fuels business. This includes companies that find, drill, and extract the commodity. It also includes the companies that refine the material and companies that provide or manufacturer the equipment used in the refinement process. Companies such as Exxon Mobil and Chevron extract and refine gas, while companies like Kinder Morgan transport fuel to gas stations.
Oil & Gas Equipment & Services
Manufacturers of equipment, including drilling rigs and equipment, and providers of supplies and services to companies involved in the drilling, evaluation and completion of oil and gas wells.
Integrated Oil & Gas
Integrated oil companies engaged in the exploration & production of oil and gas, as well as at least one other significant activity in either refining, marketing and transportation, or chemicals.
Oil & Gas Exploration & Production
Companies engaged in the exploration and production of oil and gas not classified elsewhere.
|Cabot Oil & Gas Corporation||COG|
|Concho Resources Inc.||CXO|
|Devon Energy Corporation||DVN|
|EOG Resources, Inc.||EOG|
|Diamondback Energy, Inc.||FANG|
|Marathon Oil Corporation||MRO|
|Noble Energy, Inc.||NBL|
|Pioneer Natural Resources Company||PXD|
Oil & Gas Refining & Marketing
Companies engaged in the refining and marketing of oil, gas and/or refined products not classified in the Integrated Oil & Gas or Independent Power Producers & Energy Traders SubIndustries.
Oil & Gas Storage & Transportation
Companies engaged in the storage and/or transportation of oil, gas and/or refined products. Includes diversified midstream natural gas companies, oil and refined product pipelines, coal slurry pipelines and oil & gas shipping companies.
Companies within the materials sector provide the raw material needed for other sectors to function. This includes the mining companies that provide gold, zinc, and copper, and forestry companies that provide wood. Companies that are not typically associated with materials but are in the sector include container and packaging companies such as the Intertape Polymer Group, a company that produces tape.
Companies that primarily produce industrial chemicals and basic chemicals. Including but not limited to plastics, synthetic fibers, films, commodity-based paints & pigments, explosives and petrochemicals. Excludes chemical companies classified in the Diversified Chemicals, Fertilizers & Agricultural Chemicals, Industrial Gases, or Specialty Chemicals Sub-Industries.
Manufacturers of a diversified range of chemical products not classified in the Industrial Gases, Commodity Chemicals, Specialty Chemicals or Fertilizers & Agricultural Chemicals SubIndustries.
Fertilizers & Agricultural Chemicals
Producers of fertilizers, pesticides, potash or other agriculturerelated chemicals not classified elsewhere.
Manufacturers of industrial gases.
Companies that primarily produce high value-added chemicals used in the manufacture of a wide variety of products, including but not limited to fine chemicals, additives, advanced polymers, adhesives, sealants and specialty paints, pigments and coatings.
Manufacturers of construction materials including sand, clay, gypsum, lime, aggregates, cement, concrete and bricks. Other finished or semi-finished building materials are classified in the Building Products Sub-Industry.
Metal & Glass Containers
Manufacturers of metal, glass or plastic containers. Includes corks and caps.
Manufacturers of paper and cardboard containers and packaging.
Companies involved primarily in copper ore mining.
Producers of gold and related products, including companies that mine or process gold and the South African finance houses which primarily invest in, but do not operate, gold mines
Producers of iron and steel and related products, including metallurgical (coking) coal mining used for steel production.
Industrials include a wide range of companies, from airlines and railroad companies to military weapons manufacturers. Since the range of companies is so large, the sector has 14 different industries. Two of the largest industries are Aerospace & Defense and Construction & Engineering. The best known names within this sector are Delta Air Lines and Southwest Airlines, FedEx Corporation, and Boeing Company.
Aerospace & Defense
Manufacturers of civil or military aerospace and defense equipment, parts or products. Includes defense electronics and space equipment.
|Carrier Global Corp.||CARR|
|General Dynamics Corporation||GD|
|Huntington Ingalls Industries, Inc.||HII|
|Howmet Aerospace Inc.||HWM|
|L3Harris Technologies Inc||LHX|
|Lockheed Martin Corporation||LMT|
|Northrop Grumman Corporation||NOC|
|Otis Worldwide Corporation||OTIS|
|Raytheon Technologies Corporation||RTX|
|TransDigm Group Incorporated||TDG|
|Teledyne Technologies Incorporated||TDY|
Manufacturers of building components and home improvement products and equipment. Excludes lumber and plywood classified under Forest Products and cement and other materials classified in the Construction Materials Sub-Industry.
Construction & Engineering
Companies engaged in primarily non-residential construction. Includes civil engineering companies and large-scale contractors. Excludes companies classified in the Homebuilding Sub-Industry.
Electrical Components & Equipment
Companies that produce electric cables and wires, electrical components or equipment not classified in the Heavy Electrical Equipment Sub-Industry.
Diversified industrial companies with business activities in three or more Sectors, none of which contributes a majority of revenues. Stakes held are predominantly of a controlling nature and stake holders maintain an operational interest in the running of the subsidiaries.
Construction Machinery & Heavy Trucks
Manufacturers of heavy duty trucks, rolling machinery, earthmoving and construction equipment, and manufacturers of related parts. Includes non-military shipbuilding.
Agricultural & Farm Machinery
Companies manufacturing agricultural machinery, farm machinery, and their related parts. Includes machinery used for the production of crops and agricultural livestock, agricultural tractors, planting and fertilizing machinery, fertilizer and chemical application equipment, and grain dryers and blowers.
Manufacturers of industrial machinery and industrial components. Includes companies that manufacture presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings and other metal fabrications.
|Ingersoll Rand Inc.||IR|
|Illinois Tool Works Inc.||ITW|
|Stanley Black & Decker, Inc.||SWK|
|Trane Technologies plc||TT|
Trading Companies & Distributors
Trading companies and other distributors of industrial equipment and products.
Environmental & Facilities Services
Companies providing environmental and facilities maintenance services. Includes waste management, facilities management and pollution control services. Excludes large-scale water treatment systems classified in the Water Utilities Sub-Industry.
Diversified Support Services
Providers of office services and manufacturers of office supplies and equipment not classified elsewhere.
Human Resource & Employment Services
Companies providing business support services relating to human capital management. Includes employment agencies, employee training, payroll & benefit support services, retirement support services and temporary agencies.
Research & Consulting Services
Companies primarily providing research and consulting services to businesses and governments not classified elsewhere. Includes companies involved in management consulting services, architectural design, business information or scientific research, marketing, and testing & certification services. Excludes companies providing information technology consulting services classified in the IT Consulting & Other Services Sub-Industry.
Air Freight & Logistics
Companies providing air freight transportation, courier and logistics services, including package and mail delivery and customs agents. Excludes those companies classified in the Airlines, Marine or Trucking Sub-Industries.
Companies providing primarily passenger air transportation.
Companies providing primarily goods and passenger rail transportation.
Companies providing primarily goods and passenger land transportation. Includes vehicle rental and taxi companies.
Discretionary consumer products are luxury items or services that are not necessary for survival. The demand for these items depends on economic conditions and the wealth of individuals. Products include cars, jewelry, sporting goods, and electronic devices. Luxury experiences include trips, stays at hotels, or dining in a posh restaurant. Most companies in this sector are easily recognized. Some examples include Starbucks, Best Buy, and Amazon.
Consumer Discretionary Sub-Industries
Auto Parts & Equipment
Manufacturers of parts and accessories for automobiles and motorcycles. Excludes companies classified in the Tires & Rubber Sub-Industry.
Companies that produce mainly passenger automobiles and light trucks. Excludes companies producing mainly motorcycles and three-wheelers classified in the Motorcycle Manufacturers Sub-Industry and heavy duty trucks classified in the Construction Machinery & Heavy Trucks Sub-Industry.
Manufacturers of consumer electronics products including TVs, home audio equipment, game consoles, digital cameras, and related products. Excludes personal home computer manufacturers classified in the Technology Hardware, Storage & Peripherals Sub-Industry, and electric household appliances classified in the Household Appliances Sub-Industry.
Manufacturers of soft home furnishings or furniture, including upholstery, carpets and wall-coverings.
Residential construction companies. Includes manufacturers of prefabricated houses and semi-fixed manufactured homes.
Manufacturers of electric household appliances and related products. Includes manufacturers of power and hand tools, including garden improvement tools. Excludes TVs and other audio and video products classified in the Consumer Electronics Sub-Industry and personal computers classified in the Technology Hardware, Storage & Peripherals Sub-Industry.
Housewares & Specialties
Manufacturers of durable household products, including cutlery, cookware, glassware, crystal, silverware, utensils, kitchenware and consumer specialties not classified elsewhere.
Manufacturers of leisure products and equipment including sports equipment, bicycles and toys.
Apparel, Accessories & Luxury Goods
Manufacturers of apparel, accessories & luxury goods. Includes companies primarily producing designer handbags, wallets, luggage, jewelry and watches. Excludes shoes classified in the Footwear Sub-Industry.
Manufacturers of footwear. Includes sport and leather shoes.
Casinos & Gaming
Owners and operators of casinos and gaming facilities. Includes companies providing lottery and betting services.
Hotels, Resorts & Cruise Lines
Owners and operators of hotels, resorts and cruise-ships. Includes travel agencies, tour operators and related services not classified elsewhere. Excludes casino-hotels classified in the Casinos & Gaming Sub-Industry.
Owners and operators of restaurants, bars, pubs, fast-food or take-out facilities. Includes companies that provide food catering services.
Specialized Consumer Services
Companies providing consumer services not classified elsewhere. Includes residential services, home security, legal services, personal services, renovation & interior design services, consumer auctions and wedding & funeral services.
Distributors and wholesalers of general merchandise not classified elsewhere. Includes vehicle distributors.
Internet & Direct Marketing Retail
Companies providing retail services primarily on the Internet, through mail order, and TV home shopping retailers. Also includes companies providing online marketplaces for consumer products and services.
Owners and operators of department stores.
General Merchandise Stores
Owners and operators of stores offering diversified general merchandise. Excludes hypermarkets and large-scale super centers classified in the Hypermarkets & Super Centers Sub-Industry.
Retailers specialized mainly in apparel and accessories.
Computer & Electronics Retail
Owners and operators of consumer electronics, computers, video and related products retail stores.
Home Improvement Retail
Owners and operators of home and garden improvement retail stores. Includes stores offering building materials and supplies.
Owners and operators of specialty retail stores not classified elsewhere. Includes jewelry stores, toy stores, office supply stores, health & vision care stores, and book & entertainment stores.
Owners and operators of stores specializing in automotive retail. Includes auto dealers, gas stations, and retailers of auto accessories, motorcycles & parts, automotive glass, and automotive equipment & parts.
Consumer staples companies provide all the necessities of life. This includes food and beverage companies, household product providers, and personal product providers. Consumer staple companies are well known, since people see their products in stores regularly. For example, Procter & Gamble is a famous company within this sector, which produces bleach and laundry detergent under brand names such as Dawn and Tide. Another example is Kroger, which is the largest supermarket chain in the U.S.
Consumer Staples Sub-Industries
Owners and operators of primarily drug retail stores and pharmacies.
Distributors of food products to other companies and not directly to the consumer.
Owners and operators of primarily food retail stores.
Hypermarkets & Super Centers
Owners and operators of hypermarkets and super centers selling food and a wide-range of consumer staple products. Excludes Food and Drug Retailers classified in the Food Retail and Drug Retail Sub-Industries, respectively.
Producers of beer and malt liquors. Includes breweries not classified in the Restaurants Sub-Industry.
Distillers & Vintners
Distillers, vintners and producers of alcoholic beverages not classified in the Brewers Sub-Industry.
Producers of non-alcoholic beverages including mineral waters. Excludes producers of milk classified in the Packaged Foods Sub-Industry.
Producers of agricultural products. Includes crop growers, owners of plantations and companies that produce and process foods but do not package and market them. Excludes companies classified in the Forest Products Sub-Industry and those that package and market the food products classified in the Packaged Foods Sub-Industry.
Packaged Foods & Meats
Producers of packaged foods including dairy products, fruit juices, meats, poultry, fish and pet foods.
|Conagra Brands, Inc.||CAG|
|Campbell Soup Company||CPB|
|General Mills, Inc.||GIS|
|Hormel Foods Corporation||HRL|
|Kraft Heinz Company||KHC|
|Lamb Weston Holdings, Inc.||LW|
|Mondelez International, Inc. Class A||MDLZ|
|McCormick & Company, Incorporated||MKC|
|J.M. Smucker Company||SJM|
|Tyson Foods, Inc. Class A||TSN|
Manufacturers of cigarettes and other tobacco products.
Producers of non-durable household products, including detergents, soaps, diapers and other tissue and household paper products not classified in the Paper Products Sub-Industry.
Manufacturers of personal and beauty care products, including cosmetics and perfumes.
Health care consists of medical supply companies, pharmaceutical companies, and scientific-based operations or services that aim to improve the human body or mind. Familiar names include Johnson & Johnson, a medical device and pharmaceutical company that owns Tylenol, and Abiomed, which manufactures medical implant devices.Cannabis companies are a new, but rapidly growing, part of the health care sector. Currently, the more well-known ones include Canopy Growth Corp. and Aurora Cannabis, with market caps of $23 billion and $12 billion, respectively.
Health Care Sub-Industries
Health Care Equipment
Manufacturers of health care equipment and devices. Includes medical instruments, drug delivery systems, cardiovascular & orthopedic devices, and diagnostic equipment.
|Baxter International Inc.||BAX|
|Becton, Dickinson and Company||BDX|
|Boston Scientific Corporation||BSX|
|Edwards Lifesciences Corporation||EW|
|IDEXX Laboratories, Inc.||IDXX|
|Intuitive Surgical, Inc.||ISRG|
|Varian Medical Systems, Inc.||VAR|
|Zimmer Biomet Holdings, Inc.||ZBH|
Health Care Supplies
Manufacturers of health care supplies and medical products not classified elsewhere. Includes eye care products, hospital supplies, and safety needle & syringe devices.
Health Care Distributors
Distributors and wholesalers of health care products not classified elsewhere.
Health Care Services
Providers of patient health care services not classified elsewhere. Includes dialysis centers, lab testing services, and pharmacy management services. Also includes companies providing business support services to health care providers, such as clerical support services, collection agency services, staffing services and outsourced sales & marketing services.
Health Care Facilities
Managed Health Care
Owners and operators of Health Maintenance Organizations (HMOs) and other managed plans.
Health Care Technology
Companies providing information technology services primarily to health care providers. Includes companies providing application, systems and/or data processing software, internetbased tools, and IT consulting services to doctors, hospitals or businesses operating primarily in the Health Care Sector.
Companies primarily engaged in the research, development, manufacturing and/or marketing of products based on genetic analysis and genetic engineering. Includes companies specializing in protein-based therapeutics to treat human diseases. Excludes companies manufacturing products using biotechnology but without a health care application.
Companies engaged in the research, development or production of pharmaceuticals. Includes veterinary drugs.
Life Sciences Tools & Services
Companies enabling the drug discovery, development and production continuum by providing analytical tools, instruments, consumables & supplies, clinical trial services and contract research services. Includes firms primarily servicing the pharmaceutical and biotechnology industries.
The financial sector includes all companies involved in finance, investing, and the movement or storage of money. It includes banks, credit card issuers, credit unions, insurance companies, and mortgage real estate investment trusts (REITs). Companies within this sector are usually relatively stable, as many are mature, well-established firms. Banks in this sector include Bank of America Corp, JPMorgan Chase & Co., and Goldman Sachs. Other notable sector names include Berkshire Hathaway, American Express, and Aon plc.
Large, geographically diverse banks with a national footprint whose revenues are derived primarily from conventional banking operations, have significant business activity in retail banking and small and medium corporate lending, and provide a diverse range of financial services. Excludes banks classified in the Regional Banks and Thrifts & Mortgage Finance Sub-Industries. Also excludes investment banks classified in the Investment Banking & Brokerage Sub-Industry.
Commercial banks whose businesses are derived primarily from conventional banking operations and have significant business activity in retail banking and small and medium corporate lending. Regional banks tend to operate in limited geographic regions. Excludes companies classified in the Diversified Banks and Thrifts & Mortgage Banks sub-industries. Also excludes investment banks classified in the Investment Banking & Brokerage Sub-Industry.
|Citizens Financial Group, Inc.||CFG|
|Fifth Third Bancorp||FITB|
|First Republic Bank||FRC|
|Huntington Bancshares Incorporated||HBAN|
|M&T Bank Corporation||MTB|
|People's United Financial, Inc.||PBCT|
|PNC Financial Services Group, Inc.||PNC|
|Regions Financial Corporation||RF|
|SVB Financial Group||SIVB|
|Truist Financial Corporation||TFC|
|Zions Bancorporation, N.A.||ZION|
A company with significantly diversified holdings across three or more Sectors, none of which contributes a majority of profit and/or sales. Stakes held are predominantly of a non-controlling nature. Includes diversified financial companies where stakes held are of a controlling nature. Excludes other diversified companies classified in the Industrials Conglomerates SubIndustry.
Providers of consumer finance services, including personal credit, credit cards, lease financing, travel-related money services and pawn shops. Excludes mortgage lenders classified in the Thrifts & Mortgage Finance Sub-Industry
Asset Management & Custody Banks
Financial institutions primarily engaged in investment management and/or related custody and securities fee-based services. Includes companies operating mutual funds, closedend funds and unit investment trusts. Excludes banks and other financial institutions primarily involved in commercial lending, investment banking, brokerage and other specialized financial activities
Investment Banking & Brokerage
Financial institutions primarily engaged in investment banking & brokerage services, including equity and debt underwriting, mergers and acquisitions, securities lending and advisory services. Excludes banks and other financial institutions primarily involved in commercial lending, asset management and specialized financial activities.
Financial Exchanges & Data
Financial exchanges for securities, commodities, derivatives and other financial instruments, and providers of financial decision support tools and products including ratings agencies.
Insurance and reinsurance brokerage firms.
Life & Health Insurance
Companies providing primarily life, disability, indemnity or supplemental health insurance. Excludes managed care companies classified in the Managed Health Care Sub-Industry.
Insurance companies with diversified interests in life, health and property and casualty insurance.
Property & Casualty Insurance
Companies providing primarily property and casualty insurance.
Companies providing primarily reinsurance.
The information technology – IT – sector consists of companies that develop or distribute technological items or services, and includes internet companies. Technology products include computers, microprocessors, and operating systems. Example of companies in this sector includes big names like Microsoft Corporation, Oracle Corp., and Mastercard Inc. This sector has seen a lot of change in recent years because of the rapid rise in technology-based companies.
Information Technology Sub-Industries
IT Consulting & Other Services
Providers of information technology and systems integration services not classified in the Data Processing & Outsourced Services Sub-Industry. Includes information technology consulting and information management services.
Data Processing & Outsourced Svcs.