Investment Banking & Brokerage
Investment Banking & Brokerage is losing market weight. Gained weight for 1 consecutive month.
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
Apr 2019 – Mar 2024 · 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 |
|---|---|---|---|---|---|---|
| Morgan Stanley → MS | Investment Banking & Brokerage | United States | 0.427% | -0.077 pp | +11.6% | 0.0 |
| Charles Schwab Corporation → SCHW | Investment Banking & Brokerage | United States | 0.259% | +0.028 pp | +40.6% | 0.0 |
| Raymond James Financial → RJF | Investment Banking & Brokerage | United States | 0.074% | +0.006 pp | +39.9% | 0.0 |
| Goldman Sachs → GS | Investment Banking & Brokerage | United States | 0.377% | +0.003 pp | +31.7% | 0.0 |
Underlying monthly industry observations
| Month | Weight | 1M change | 3M change | 6M change | 12M change | Relative return · 12M |
|---|---|---|---|---|---|---|
| Mar 2024 | 1.137% | +0.052 pp | -0.028 pp | +0.023 pp | -0.040 pp | +1.8% |
| Feb 2024 | 1.085% | -0.023 pp | +0.017 pp | -0.022 pp | -0.336 pp | -19.6% |
| Jan 2024 | 1.107% | -0.058 pp | +0.072 pp | +0.280 pp | -0.304 pp | -16.2% |
| Dec 2023 | 1.165% | +0.097 pp | +0.051 pp | +0.368 pp | -0.243 pp | -13.4% |
| Nov 2023 | 1.068% | +0.033 pp | -0.038 pp | +0.250 pp | -0.356 pp | -22.4% |
| Oct 2023 | 1.035% | -0.079 pp | +0.207 pp | -0.158 pp | -0.338 pp | -24.8% |
| Sep 2023 | 1.114% | +0.008 pp | +0.317 pp | -0.063 pp | -0.260 pp | -16.6% |
| Aug 2023 | 1.106% | +0.279 pp | +0.288 pp | -0.314 pp | -0.231 pp | -14.2% |
| Jul 2023 | 0.828% | +0.030 pp | -0.366 pp | -0.584 pp | -0.449 pp | -4.2% |
| Jun 2023 | 0.798% | -0.021 pp | -0.379 pp | -0.611 pp | -0.506 pp | -6.6% |
| May 2023 | 0.818% | -0.375 pp | -0.602 pp | -0.606 pp | -0.528 pp | -7.4% |
| Apr 2023 | 1.193% | +0.016 pp | -0.218 pp | -0.179 pp | -0.081 pp | +2.6% |
| Mar 2023 | 1.177% | -0.243 pp | -0.231 pp | -0.197 pp | -0.165 pp | -2.2% |
| Feb 2023 | 1.420% | +0.009 pp | -0.004 pp | +0.082 pp | +0.003 pp | +13.2% |
| Jan 2023 | 1.411% | +0.003 pp | +0.039 pp | +0.135 pp | -0.060 pp | +7.1% |
| Dec 2022 | 1.408% | -0.016 pp | +0.034 pp | +0.105 pp | +0.020 pp | +15.2% |
| Nov 2022 | 1.424% | +0.051 pp | +0.086 pp | +0.078 pp | +0.013 pp | +18.2% |
| Oct 2022 | 1.373% | -0.001 pp | +0.096 pp | +0.098 pp | -0.117 pp | +11.1% |
| Sep 2022 | 1.374% | +0.036 pp | +0.071 pp | +0.032 pp | -0.071 pp | +9.8% |
| Aug 2022 | 1.338% | +0.061 pp | -0.008 pp | -0.079 pp | -0.122 pp | +4.6% |
| Jul 2022 | 1.276% | -0.027 pp | +0.002 pp | -0.195 pp | -0.114 pp | +5.1% |
| Jun 2022 | 1.303% | -0.043 pp | -0.039 pp | -0.085 pp | -0.128 pp | +0.6% |
| May 2022 | 1.346% | +0.072 pp | -0.071 pp | -0.065 pp | -0.097 pp | +2.4% |
| 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% |
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.