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Tag Archives: GICS

Mar 5, 2021

Celebrating 64 Years of the S&P 500

The S&P 500® was launched on March 4, 1957, and so yesterday marked its 64th birthday. To celebrate this milestone, a number of my colleagues and I recently appeared on our Index Investment Strategy team’s weekly call (sign up for the daily dashboard to receive the invite). If you couldn’t make it, here are a…

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Feb 2, 2021

How Carbon Weight Adjustment May Reduce Carbon Intensity among Asian Equities

In a previous blog, we reviewed the carbon efficiencies of Asian companies in comparison with their global industry group peers. In this blog, we examine the potential carbon intensity1 reduction on various Asian markets by incorporating a carbon weight adjustment to their respective S&P Global BMI index universes, following the S&P Global Carbon Efficient Index…

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Jan 12, 2021

Style Rotation through the Revenue Exposure Lens

One of the major trends in the last few years has been the outperformance of large, growth-oriented stocks and, at first glance, 2020 represented a continuation of this trend. For example, the S&P 500® Growth (33.5%) outperformed the S&P 500 Value (1.4%) by 32.1% last year, the largest difference in calendar year total returns between…

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Dec 10, 2020

Learning from Sector Changes in the S&P Composite 1500

The S&P Composite 1500® serves as a benchmark for around 90% of the U.S. equity market and offers a comprehensive perspective on it.1 Companies in the S&P Composite 1500 are classified into sectors based on the Global Industry Classification Standard (GICS®). As with the benchmark, the S&P Composite 1500 Sector Indices are weighted by float-adjusted…

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Nov 17, 2020

Tesla Added to the S&P 500

Yesterday, S&P Dow Jones Indices announced that Tesla will be added to the S&P 500® prior to the open on Monday, Dec. 21, 2020. The Index Committee has not yet determined which current constituent Tesla will replace, nor how Tesla will be added to the index—because of its size, S&P DJI is seeking feedback through…

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Oct 6, 2020

Is the S&P 500 Doing Its Job?

On Sept. 4, 2020, S&P DJI’s U.S. Index Committee announced that Etsy, Teradyne, and Catalent were being added to the S&P 500®, replacing H&R Block, Coty, and Kohl’s. The changes attracted significant market attention and sparked a discussion around the names being added to the index, as well as those that were not. These updates…

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Jul 8, 2020

Indices Made Remarkable Recovery in Q2

After a volatile start to 2020, many investors were looking at double digit declines and were probably re-evaluating their 2020 expected returns. But while COVID-19 continued to determine market sentiment, Q2 hosted a remarkable recovery.  The S&P 500 (+20.54%) and the S&P MidCap 400 (+24.07%) posted their highest quarterly total returns since 1998, while the…

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Mar 16, 2020

Bye Bye Bull Market: Reaction to Coronavirus

The last few weeks have definitely felt like a “where were you when…?” moment as coronavirus fears spread around the world and many people’s day-to-day lives have been disrupted.  Amid the anxiety and disruption, global financial markets nosedived, sending all major equity indices tumbling, VIX® soaring to levels not seen since the financial crisis, and…

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Feb 27, 2020

U.S. Equities: Staying the Course

The last few days have been turbulent for financial markets as coronavirus contagion fears took hold.  Global equities fell; the S&P 500®’s 6.6% price return plunge since the end of last week wiped off its year-to-date gains; recent U.S. sector and industry declines mean that nearly all S&P Composite 1500® industries are down month-to-date; and…

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Jan 15, 2020

What’s Your U.S. View?

Every year, certain trends take centre stage and help to explain market returns. For example, expectations over trade negotiations and Fed policy were useful for explaining market performance in 2019.  Many of these developments often appear obvious with the benefit of hindsight, but identifying the trends and their subsequent impact in advance is far from…

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