Sectors
Sector Rotation & Performance (Historical Time Series)
GICS sector rankings across the full business cycle — current phase signals and structural rotation patterns.
Historical range: Jan 2000 – Apr 2026 · US business cycle classification
§1 — Current Phase Signals
OW / NE / UW rankings for US GICS sectors in the current cycle phase.
In the current expansion phase, Information Technology has historically had the strongest average monthly return and Broad Equity the weakest. Historical pattern across past cycles — not a recommendation.
Avg monthly return · current phase: expansion
Avg monthly return · current phase: expansion
Avg monthly return · current phase: expansion
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Sign in →§2 — Cycle Rotation Heat Map
Average monthly return per sector across all four cycle phases. Shows structural rotation — e.g. Energy OW in Expansion but UW in Contraction.
During the current expansion phase, Information Technology has historically led and broad_equity lagged on average monthly return. Structural pattern across past cycles — not a recommendation.
Show the full cycle rotation heatmap
| Sector | Expansion | Peak | Contraction | Trough |
|---|---|---|---|---|
| Information Technology | +1.8% | -4.6% | +1.8% | +3.5% |
| Energy | +1.6% | -11.1% | +0.6% | -1.1% |
| Industrials | +1.4% | -6.0% | +0.4% | +4.8% |
| Consumer Discretionary | +1.3% | -5.9% | +1.4% | +5.6% |
| Financials | +1.2% | -6.3% | -0.3% | +3.3% |
| Health Care | +1.2% | -2.7% | +0.1% | +1.7% |
| Communication Services | +1.1% | -5.0% | +1.1% | +2.7% |
| Materials | +1.1% | -5.9% | +0.7% | +4.4% |
| Utilities | +1.1% | -2.1% | -0.3% | +2.6% |
| Real Estate | +1.0% | -5.4% | -0.2% | +2.6% |
| Consumer Staples | +0.9% | -0.6% | +0.3% | +2.7% |
| broad_equity | +0.8% | -4.8% | +1.3% | +2.1% |
§3 — Regional Comparison
Sector performance by region — China and India live; UK, Eurozone, Japan, Australia coming soon.
China
ExpansionReturns based on US SPDR sector ETFs during China cycle phases — cross-regional proxy
India
ExpansionReturns based on US SPDR sector ETFs during India cycle phases — cross-regional proxy
UK
Sector return data being calibrated for this region.
Coming soonEurozone
Sector return data being calibrated for this region.
Coming soonJapan
Sector return data being calibrated for this region.
Coming soonAustralia
Sector return data being calibrated for this region.
Coming soonUK, Eurozone, Japan and Australia data will populate automatically once classifier v3 calibration is complete for each region.
§4 — Sector Valuations
Aggregate valuation metrics across all GICS sectors — median P/E, P/B, ROE, FCF margin and composite quality score.
Median valuation and quality metrics across 52 GICS sectors, where Information Technology screens the strongest on composite quality. Higher composite = stronger aggregate quality. Descriptive context — not investment advice.
Show the full sector valuation table
| Sector | Median P/E | Median P/B | Median ROE | Median FCF Margin | Avg Composite | Symbols |
|---|---|---|---|---|---|---|
| Agriculture | — | — | — | — | — | 1 |
| Asia ex-Japan Equity | — | — | — | — | — | 1 |
| Basic Materials | 20.5 | 1.3 | 5.0% | 3.0% | 50.0 | 829 |
| Broad Commodities | — | — | — | — | — | 3 |
| China Equity | — | — | — | — | — | 1 |
| Clean Energy | — | — | — | — | — | 1 |
| Communication Services | 19.2 | 1.6 | 5.3% | 7.2% | 50.0 | 401 |
| Consumer Cyclical | 18.6 | 1.3 | 6.2% | 4.0% | 50.0 | 1078 |
| Consumer Defensive | 18.7 | 1.6 | 8.7% | 4.0% | 50.0 | 488 |
| Consumer Discretionary | 41.5 | 6.3 | 14.0% | 2.2% | 50.1 | 89 |
| Consumer Staples | 49.7 | 8.3 | 17.6% | 2.9% | 50.4 | 29 |
| Copper | — | — | — | — | — | 1 |
| Crude Oil | — | — | — | — | — | 1 |
| Cryptocurrency | — | — | — | — | — | 8 |
| Developed Markets Equity | — | — | — | — | — | 1 |
| Emerging Markets Bond | — | — | — | — | — | 1 |
| Emerging Markets Equity | — | — | — | — | — | 2 |
| Energy | 15.5 | 1.5 | 8.5% | 6.1% | 50.0 | 425 |
| ETF | — | — | — | — | — | 9 |
| European Bond | — | — | — | — | — | 1 |
| Financial Services | 13.0 | 1.1 | 9.0% | 18.0% | 50.0 | 1580 |
| Financials | 24.2 | 2.7 | 14.2% | -0.5% | 50.1 | 102 |
| Global Equity | — | — | — | — | — | 6 |
| Gold | — | — | — | — | — | 2 |
| Health Care | 46.9 | 5.9 | 15.1% | 4.5% | 50.2 | 50 |
| Healthcare | 22.4 | 2.2 | -15.1% | -4.6% | 50.0 | 1397 |
| High Yield Bond | — | — | — | — | — | 2 |
| Hong Kong Equity | — | — | — | — | — | 1 |
| India Equity | — | — | — | — | — | 1 |
| Industrials | 25.5 | 2.4 | 8.7% | 4.0% | 50.0 | 1606 |
| Inflation-Protected Bond | — | — | — | — | — | 1 |
| Information Technology | 26.7 | 4.9 | 19.8% | 6.3% | 50.4 | 27 |
| International Bond | — | — | — | — | — | 2 |
| Investment Grade Bond | — | — | — | — | — | 1 |
| Italy Equity | — | — | — | — | — | 1 |
| Japan Equity | — | — | — | — | — | 1 |
| Materials | 35.5 | 3.2 | 11.5% | -2.1% | 50.2 | 56 |
| Natural Gas | — | — | — | — | — | 1 |
| Other | — | — | — | — | — | 1 |
| Platinum | — | — | — | — | — | 1 |
| Real Estate | 20.5 | 1.0 | 4.7% | 20.7% | 50.0 | 446 |
| Silver | — | — | — | — | — | 1 |
| South Africa Equity | — | — | — | — | — | 1 |
| South Korea Equity | — | — | — | — | — | 1 |
| Taiwan Equity | — | — | — | — | — | 1 |
| Technology | 36.9 | 2.7 | 5.2% | 2.9% | 50.0 | 1570 |
| UK Bond | — | — | — | — | — | 1 |
| UK Equity | — | — | — | — | — | 2 |
| US Bond | — | — | — | — | — | 1 |
| US Equity | — | — | — | — | — | 3 |
| US Treasury | — | — | — | — | — | 2 |
| Utilities | 18.8 | 1.7 | 9.0% | -3.4% | 50.0 | 268 |
Computed 2026-05-27 · weekly refresh
§5 — Policy Catalyst Overlay
Analyst-curated structural government policy tailwinds and headwinds by sector — US only. Qualitative overlay; not included in cycle phase calculations.
7 sectors have active policy signals, with Utilities the strongest net tailwind and Consumer Cyclical the strongest net headwind. Analyst-curated structural overlay — not investment advice.
Show the full policy overlay table
| Sector | Net | Tailwinds | Headwinds |
|---|---|---|---|
| Utilities | +5 | ↑3/3↑2/3 | — |
| Industrials | +4 | ↑3/3↑2/3 | ↓1/3 |
| Technology | +3 | ↑3/3 | — |
| Energy | -2 | — | ↓2/3 |
| Real Estate | -2 | — | ↓2/3 |
| Consumer Cyclical | -2 | — | ↓2/3 |
| Basic Materials | +2 | ↑2/3 | — |
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Net = sum of tailwind magnitudes − sum of headwind magnitudes. Policy data is analyst-curated. Not investment advice.