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 Technology40.9%+4.04 pp Energy3.9%+1.55 pp Health Care10.6%+0.01 pp Communication Services2.3%-0.19 pp Materials2.0%-0.23 pp Real Estate1.9%-0.31 pp Industrials9.3%-0.48 pp Utilities2.2%-0.48 pp Consumer Staples5.5%-0.92 pp Consumer Discretionary10.8%-1.27 pp Financials10.5%-1.72 pp

2 · Industry

Inside Financials

Diversified Banks3.54%-0.33 pp Transaction & Payment Processing Services0.68%-0.30 pp Financial Exchanges & Data0.77%-0.27 pp Asset Management & Custody Banks1.30%-0.21 pp Consumer Finance0.63%-0.21 pp Insurance Brokers0.47%-0.20 pp Property & Casualty Insurance0.87%-0.15 pp Life & Health Insurance0.33%-0.04 pp Investment Banking & Brokerage1.44%+0.03 pp Multi-line Insurance0.13%-0.03 pp Reinsurance0.02%-0.01 pp Regional Banks0.32%-0.00 pp Multi-Sector Holdings0.00%-0.00 pp

3 · Sub-industry

Inside Investment Banking & Brokerage

Investment Banking & Brokerage1.44%+0.034 pp

Concentrated

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

View all contributions →

Investment Banking & Brokerage · weight

1.44%

Industry change · 12M

+0.03 pp

Investment Banking & Brokerage · contribution

+0.034 pp

Company participation

100%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

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

Company	Country	Market cap	Universe weight	3M contribution	12M contribution	12M price return	Above 6M weight average
Morgan Stanley → MS	United States	$335.0bn	0.558%	-0.011 pp	+0.060 pp	+45.0%	Yes
Charles Schwab Corporation → SCHW	United States	$189.9bn	0.316%	+0.053 pp	-0.044 pp	+16.1%	Yes
Goldman Sachs → GS	United States	$298.7bn	0.497%	-0.027 pp	+0.030 pp	+39.7%	Yes
Raymond James Financial → RJF	United States	$34.3bn	0.057%	+0.009 pp	-0.013 pp	+6.6%	Yes
Interactive Brokers → IBKR	United States	$4.1bn	0.007%	+0.000 pp	+0.001 pp	+56.8%	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.