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ProShares S&P 500 Ex-Technology ETF To Change Index: (SPXT)
If the index name is to be believed (ex-IT, not ex-IT and communications), this means that the reconstituted index and fund will include such "non-technology" (but communications) names as Google (Alphabet) and Facebook. In part because these tech companies are being moved to communications, and in part because the index will no longer exclude telecom (which is now just com).
In a sense it's not surprising. Just as "internet companies" became mainstream as the intrinsic value of the technology was dwarfed by its value in applications, so too are social networks (Facebook, Google, Twitter) more valuable as communications platforms than as technology.
So this ex-tech ETF will add Facebook, Google (Alphabet) and Twitter, and also eBay, which joins Amazon in the consumer discretionary sector. https://www.msci.com/gics
Comments
In a sense it's not surprising. Just as "internet companies" became mainstream as the intrinsic value of the technology was dwarfed by its value in applications, so too are social networks (Facebook, Google, Twitter) more valuable as communications platforms than as technology.
So this ex-tech ETF will add Facebook, Google (Alphabet) and Twitter, and also eBay, which joins Amazon in the consumer discretionary sector.
https://www.msci.com/gics