Observatory · observe first

Follow the allocation change

Matched S&P 500 members → sector → industry → sub-industry → company. Each step uses the same percentage points.

Historical time machine
Historical observation
20182026
Universe›Financials›Investment Banking & Brokerage›Investment Banking & Brokerage

1 · Sector

Weight and 12M allocation change

Information Technology38.1%+4.07 ppUtilities2.8%-0.02 ppConsumer Discretionary12.0%-0.02 ppEnergy2.3%-0.32 ppMaterials2.1%-0.33 ppReal Estate2.1%-0.38 ppIndustrials9.4%-0.40 ppCommunication Services2.2%-0.48 ppHealth Care11.5%-0.58 ppConsumer Staples6.2%-0.72 ppFinancials11.4%-0.82 pp

2 · Industry

Inside Financials

Transaction & Payment Processing Services0.79%-0.41 ppInvestment Banking & Brokerage1.41%+0.20 ppInsurance Brokers0.57%-0.17 ppFinancial Exchanges & Data0.92%-0.15 ppProperty & Casualty Insurance0.98%-0.15 ppConsumer Finance0.82%+0.13 ppAsset Management & Custody Banks1.33%-0.11 ppLife & Health Insurance0.34%-0.10 ppRegional Banks0.29%-0.06 ppDiversified Banks3.75%+0.03 ppMulti-line Insurance0.15%-0.03 ppReinsurance0.03%-0.01 ppMulti-Sector Holdings0.00%-0.00 pp

3 · Sub-industry

Inside Investment Banking & Brokerage

Investment Banking & Brokerage1.41%+0.205 pp
Concentrated

Most of this industry's gains came from a few companies.

View all contributions →
Investment Banking & Brokerage · weight
1.41%
Industry change · 12M
+0.20 pp
Investment Banking & Brokerage · contribution
+0.205 pp
Company participation
60%
of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Nov 2025 · sorted by absolute contribution to 12-month change

CompanyCountryMarket capUniverse weight3M contribution12M contribution12M price returnAbove 6M weight average
Charles Schwab Corporation →
SCHW
United States$164.8bn0.324%-0.037 pp+0.088 pp+13.4%No
Goldman Sachs →
GS
United States$247.8bn0.487%+0.019 pp+0.065 pp+38.5%Yes
Morgan Stanley →
MS
United States$269.6bn0.530%+0.032 pp+0.062 pp+32.5%Yes
Raymond James Financial →
RJF
United States$30.8bn0.060%-0.010 pp-0.016 pp-6.3%No
Interactive Brokers →
IBKR
United States$2.7bn0.005%-0.000 pp+0.005 pp+36.7%Yes

Company contributions use weights among matched S&P 500 members and add through each level without rescaling. Companies without matched shares and prices are omitted. These observations do not establish official index weights or actual fund flows.