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

Materials29.2%+26.88 ppEnergy2.3%-0.54 ppCommunication Services2.2%-0.64 ppUtilities2.1%-0.78 ppReal Estate1.6%-0.97 ppIndustrials7.6%-2.18 ppConsumer Staples4.9%-2.47 ppConsumer Discretionary8.4%-3.06 ppFinancials7.9%-4.65 ppHealth Care8.0%-4.97 ppInformation Technology25.9%-6.63 pp

2 · Industry

Inside Financials

Diversified Banks2.63%-1.07 ppTransaction & Payment Processing Services0.51%-0.73 ppAsset Management & Custody Banks0.90%-0.57 ppProperty & Casualty Insurance0.70%-0.54 ppFinancial Exchanges & Data0.63%-0.51 ppInsurance Brokers0.38%-0.49 ppInvestment Banking & Brokerage1.03%-0.22 ppLife & Health Insurance0.24%-0.20 ppConsumer Finance0.50%-0.16 ppMulti-line Insurance0.11%-0.09 ppRegional Banks0.25%-0.06 ppReinsurance0.02%-0.02 ppMulti-Sector Holdings0.00%-0.00 pp

3 · Sub-industry

Inside Investment Banking & Brokerage

Investment Banking & Brokerage1.03%-0.224 pp
Concentrated

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

View all contributions →
Investment Banking & Brokerage · weight
1.03%
Industry change · 12M
-0.22 pp
Investment Banking & Brokerage · contribution
-0.224 pp
Company participation
0%
of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Mar 2026 · sorted by absolute contribution to 12-month change

CompanyCountryMarket capUniverse weight3M contribution12M contribution12M price returnAbove 6M weight average
Charles Schwab Corporation →
SCHW
United States$164.7bn0.240%-0.108 pp-0.097 pp+21.5%No
Morgan Stanley →
MS
United States$261.3bn0.381%-0.172 pp-0.066 pp+44.8%No
Goldman Sachs →
GS
United States$251.1bn0.366%-0.151 pp-0.039 pp+58.1%No
Raymond James Financial →
RJF
United States$28.5bn0.042%-0.020 pp-0.026 pp+5.6%No
Interactive Brokers →
IBKR
United States$2.8bn0.004%-0.001 pp+0.004 pp+62.8%No

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.