FYI: In Nov. 20, S&P and MSCI announced dramatic changes to its Global Industry Classification Standard (GICS), which underpins the indexes of hundreds of sector ETFs.
The changes include the introduction of a new communications services sector, built on top of the existing telecommunication services sector, and the probable reclassification of some of the most-well-known tech and media stocks, such as the FAANG (Facebook, Amazon, Apple, Netflix, Google) stocks.
To make sense of the developments, ETF.com recently spoke with Denise Chisholm, a sector strategist for Fidelity Investments, whose specialty is the use of historical probability analysis to tease fact from fiction in how sectors work.
Regards,
Ted
http://www.etf.com/sections/features-and-news/what-know-about-sector-etf-investing?nopaging=1
