Investment Banking & Brokerage
Investment Banking & Brokerage is losing market weight. Lost weight for 3 consecutive months.
Most of this industry's losses came from a few companies.
Where did the weight change come from?
12-month contribution in universe percentage points · contributions add to the industry change
The three largest same-direction contributors explain 100% of gross losses. Opposing contributions can make an individual company’s change larger than the industry’s net change.
How has it moved through history?
Share of matched S&P 500 members
Jan 2018 – Apr 2022 · market weight (%)
Relative performance
Industry return versus ACWI · no future data shown
Is participation broad or concentrated?
Actual constituent counts at this date, not the legacy synthetic breadth proxy
This is size concentration, not contribution to the 12-month change. The attribution above measures the latter.
Evidence can disagree
Independent dimensions · no combined score or bullish/bearish verdict
Other evidence and availability
Valuation data: unavailable; shown as zero placeholder.
Attention data: unavailable; shown as zero placeholder.
Actual fund flows: unavailable. No ETF, mutual-fund or institutional flow feed is connected.
Volume / turnover: unavailable in this dataset.
Follow the contribution to individual companies
Sorted by absolute 12-month weight contribution, not investment merit
| Company | Sub-industry | Country | Universe weight | 12M contribution | 12M price return | Revisions |
|---|---|---|---|---|---|---|
| Goldman Sachs → GS | Investment Banking & Brokerage | United States | 0.373% | -0.063 pp | -10.6% | 0.0 |
| Raymond James Financial → RJF | Investment Banking & Brokerage | United States | 0.073% | +0.030 pp | +13.2% | 0.0 |
| Morgan Stanley → MS | Investment Banking & Brokerage | United States | 0.519% | -0.024 pp | +0.6% | 0.0 |
| Charles Schwab Corporation → SCHW | Investment Banking & Brokerage | United States | 0.309% | -0.020 pp | -4.9% | 0.0 |
Underlying monthly industry observations
| Month | Weight | 1M change | 3M change | 6M change | 12M change | Relative return · 12M |
|---|---|---|---|---|---|---|
| Apr 2022 | 1.275% | -0.067 pp | -0.197 pp | -0.216 pp | -0.077 pp | +2.4% |
| Mar 2022 | 1.342% | -0.075 pp | -0.046 pp | -0.103 pp | +0.659 pp | +8.9% |
| Feb 2022 | 1.417% | -0.054 pp | +0.006 pp | -0.043 pp | +0.737 pp | +13.5% |
| Jan 2022 | 1.472% | +0.084 pp | -0.018 pp | +0.082 pp | +0.777 pp | +34.8% |
| Dec 2021 | 1.388% | -0.023 pp | -0.057 pp | -0.043 pp | +0.207 pp | +26.9% |
| Nov 2021 | 1.411% | -0.079 pp | -0.049 pp | -0.032 pp | +0.297 pp | +35.1% |
| Oct 2021 | 1.490% | +0.045 pp | +0.100 pp | +0.138 pp | +0.539 pp | +56.9% |
| Sep 2021 | 1.445% | -0.015 pp | +0.014 pp | +0.762 pp | +1.444 pp | +57.7% |
| Aug 2021 | 1.460% | +0.070 pp | +0.017 pp | +0.780 pp | +1.459 pp | +59.6% |
| Jul 2021 | 1.390% | -0.041 pp | +0.038 pp | +0.695 pp | +1.389 pp | +49.6% |
| Jun 2021 | 1.431% | -0.013 pp | +0.748 pp | +0.250 pp | +1.430 pp | +43.5% |
| May 2021 | 1.443% | +0.092 pp | +0.764 pp | +0.329 pp | +1.442 pp | +43.3% |
| Apr 2021 | 1.352% | +0.669 pp | +0.657 pp | +0.400 pp | +0.338 pp | +36.1% |
| Mar 2021 | 0.683% | +0.003 pp | -0.498 pp | +0.682 pp | +0.682 pp | +39.8% |
| Feb 2021 | 0.680% | -0.015 pp | -0.434 pp | +0.679 pp | +0.679 pp | +25.8% |
| Jan 2021 | 0.695% | -0.486 pp | -0.256 pp | +0.694 pp | -0.468 pp | +3.2% |
| Dec 2020 | 1.181% | +0.067 pp | +1.180 pp | +1.180 pp | +0.036 pp | +6.0% |
| Nov 2020 | 1.114% | +0.163 pp | +1.113 pp | +1.113 pp | -0.046 pp | -2.4% |
| Oct 2020 | 0.951% | +0.950 pp | +0.950 pp | -0.062 pp | -0.163 pp | -5.1% |
| Sep 2020 | 0.001% | -0.000 pp | -0.000 pp | +0.000 pp | -1.100 pp | -7.9% |
| Aug 2020 | 0.001% | +0.000 pp | -0.000 pp | +0.000 pp | -1.082 pp | -5.9% |
| Jul 2020 | 0.001% | -0.000 pp | -1.013 pp | -1.162 pp | -1.174 pp | -11.4% |
| Jun 2020 | 0.001% | -0.000 pp | +0.000 pp | -1.144 pp | -1.132 pp | -2.2% |
| May 2020 | 0.001% | -1.012 pp | +0.000 pp | -1.159 pp | -1.155 pp | -1.9% |
| Apr 2020 | 1.014% | +1.013 pp | -0.149 pp | -0.101 pp | -0.256 pp | -8.9% |
| Mar 2020 | 0.001% | -0.000 pp | -1.144 pp | -1.101 pp | -1.190 pp | -8.0% |
| Feb 2020 | 0.001% | -1.162 pp | -1.159 pp | -1.082 pp | -1.235 pp | -2.0% |
| Jan 2020 | 1.162% | +0.017 pp | +0.048 pp | -0.012 pp | +0.446 pp | +1.3% |
| Dec 2019 | 1.145% | -0.015 pp | +0.044 pp | +0.012 pp | +0.453 pp | +2.8% |
| Nov 2019 | 1.160% | +0.046 pp | +0.077 pp | +0.004 pp | +0.444 pp | +1.5% |
| Oct 2019 | 1.114% | +0.013 pp | -0.061 pp | -0.156 pp | +0.319 pp | -13.6% |
| Sep 2019 | 1.101% | +0.018 pp | -0.031 pp | -0.090 pp | +0.333 pp | -9.5% |
| Aug 2019 | 1.083% | -0.092 pp | -0.073 pp | -0.153 pp | +0.268 pp | -15.6% |
| Jul 2019 | 1.175% | +0.042 pp | -0.095 pp | +0.458 pp | -0.324 pp | -12.1% |
| Jun 2019 | 1.133% | -0.023 pp | -0.058 pp | +0.441 pp | -0.353 pp | -14.8% |
| May 2019 | 1.156% | -0.114 pp | -0.080 pp | +0.440 pp | -0.412 pp | -18.3% |
| Apr 2019 | 1.270% | +0.079 pp | +0.553 pp | +0.474 pp | -0.369 pp | -15.3% |
| Mar 2019 | 1.191% | -0.045 pp | +0.499 pp | +0.423 pp | -0.474 pp | -22.0% |
| Feb 2019 | 1.236% | +0.520 pp | +0.521 pp | +0.421 pp | -0.446 pp | -20.0% |
| Jan 2019 | 0.717% | +0.025 pp | -0.079 pp | -0.782 pp | -0.904 pp | -14.6% |
| Dec 2018 | 0.692% | -0.024 pp | -0.077 pp | -0.794 pp | -0.928 pp | -18.0% |
| Nov 2018 | 0.716% | -0.080 pp | -0.100 pp | -0.853 pp | -0.905 pp | -15.4% |
| Oct 2018 | 0.796% | +0.027 pp | -0.703 pp | -0.843 pp | -0.825 pp | -7.5% |
| Sep 2018 | 0.769% | -0.047 pp | -0.717 pp | -0.896 pp | -0.852 pp | -12.2% |
| Aug 2018 | 0.815% | -0.683 pp | -0.753 pp | -0.866 pp | -0.805 pp | -7.5% |
| Jul 2018 | 1.499% | +0.013 pp | -0.140 pp | -0.121 pp | -0.121 pp | -5.9% |
| Jun 2018 | 1.486% | -0.083 pp | -0.179 pp | -0.135 pp | -0.135 pp | -7.8% |
| May 2018 | 1.568% | -0.071 pp | -0.113 pp | -0.052 pp | -0.052 pp | -3.2% |
| Apr 2018 | 1.639% | -0.026 pp | +0.019 pp | +0.019 pp | +0.019 pp | -0.4% |
| Mar 2018 | 1.665% | -0.017 pp | +0.045 pp | +0.045 pp | +0.045 pp | +1.6% |
| Feb 2018 | 1.682% | +0.062 pp | +0.062 pp | +0.062 pp | +0.062 pp | +3.5% |
| Jan 2018 | 1.620% | +0.000 pp | +0.000 pp | +0.000 pp | +0.000 pp | +0.0% |
How are these descriptive states defined?
Gaining / losing: 12-month weight change above +0.005pp / below −0.005pp. Direction and speed are separate dimensions, not mutually exclusive recommendations.
Accelerating / slowing: compare the most recent 3M change with the preceding 3M change. Accelerating means a positive change speeds up by >0.02pp. Slowing means the magnitude of movement declines by >0.02pp. A falling industry can also slow.
Reversing: the last two 3M changes have opposite signs, outside a ±0.005pp tolerance. Persistence counts consecutive same-direction monthly changes.
Broad / concentrated: company attribution, not a market-cap concentration shortcut. Concentrated means the three largest same-direction contributors account for ≥70% of gross same-direction changes; otherwise broad requires ≥60% of constituents moving with the industry. Other cases are mixed.
Weights use matched S&P 500 members’ market-cap estimates, based on SEC-reported shares available by each month-end and monthly closing prices. Companies without a matched price or share record are omitted, so the denominator is the matched sample rather than every index member. These are not official float-adjusted S&P weights. Flow is not measured.