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Sectors and Industries


Stock Market Sector

Classifications

Sectors and Industries - Stock Market Sector Classifications; picture of ten sectors shown in a circle with two rings with the words written in large white font on the outside circle

The companies listed on the stock markets can be grouped together based on their primary business activities. The companies are grouped into 10 broad groups and each broad group is further split into sub-groups and then further split into more sub-groups. The broad group is often referred to as a sector (which can be thought of as a section of the business economy). These broad groups or sectors are further divided into sub-groups which are often referred to as industries. The terms 'Sector' and 'Industry' are frequently reversed and unfortunately there are several standard classification systems that are used.

The advantage of grouping together companies of a similar business nature is that the stock investor can easily compare the financial strength of a company with the financial strength of its competitors. The investor can also compare the stock price performance of a company to that of its competitors. In addition, there are indices constructed for various sectors and industries which allows the investor to determine a stocks performance relative to the sector or industry overall performance.

There are numerous standard grouping classifications used within the U.S. stock markets. The three main classifications commonly used are ICB, GICS and TRBC. These three are very similar to each other. While there are other classifications, they tend to be more used by economists rather than stock market analysts.

Industry Classifications:

  1. The Industry Classification Benchmark (ICB) was developed by Dow Jones & Company, Inc. and the FTSE International group. The ICB classification groups companies into 10 broad groups which the ICB refers to as Industries. The Industries are further divided into 20 groups referred to as Supersectors. The Supersectors are divided into 41 Sectors and then further divided into 114 Subsectors.
  2. The Global Industry Classification Standard (GICS) was developed by MSCI inc. (Morgan Stanley Capital International) and Standard & Poor's (S&P). The GICS classification groups companies into 10 broad groups which the GICS refers to as Sectors. The Sectors are further divided into 24 sub-groups referred to as Industry groups. The Industry groups are divided into 68 Industries and then further divided into 154 sub-Industries.
  3. The Thomson Reuters Business Classification (TRBC) was developed by Thomson Reuters. The TRBC classification groups companies into 10 broad groups which the TRBC refers to as Economic sectors. The Economic sectors are further divided into 25 sub-groups referred to as Business sectors. The Business sectors are divided into 52 Industry groups and then further divided into 124 Industries.

The terms sector and industry have different meanings for grouping with the GICS and ICB classifications. Also, the TRBC classification uses the term Industry group at a different sub-group level to GICS.

The sector and industry group terminology used by GICS tends to be the more common reference cited by the financial press and is the reference used throughout this website. Although there is a lot of reference to the ICB classification system which is used by NYSE, it is common for the financial press to cite the GICS terminology. This means that the broad grouping of the 10 main groups is more commonly referred to as sectors rather than industries.

The 10 main sector groups for the ICB, GICS and the TRBC classification systems are shown below in Table 1.

Table 1. ICB, GICS and TRBC sectors

Stock Market Sector Classifications - table showing industry sectors ICB, GICS and TRBC standards for the ten sectors

Note that the ICB classification refers to sectors as Industries.

Other industry classifications used within the U.S. economy are the Standard Industrial Classification (SIC) and the North American Industry Classification System (NAICS). In additional, some financial companies serving the stock market industry come up with their own versions for the sectors and sub-groups.

Irrespective of the exact categories used for the sectors and sub-groups, the primary purpose of classifications is to simplify the analysis of the financials and the stock price performance of listed companies.

A common valuation approach is to compare the earnings of a company with the earnings of its direct competitors. For example, a car manufacturer and a grocery chain store both sell to consumers and are both retail companies. However, they cannot be directly compared to each other as they sell completely different products. By sub-grouping car manufactures together, an investor can analyze one car manufacturer directly against other car manufactures and can also establish an industry average.

Thus it is convenient to group all of these competing companies into single sub-categories. This allows for the earnings to be averaged and compared to each company within the group. Similarly, an index of the stock prices can be established for the sub-group allowing an investor to determine the performance of individual stocks against the average for the sub-group and also relative to each stock in the sub-group.

Sectors and Industries - Stock Market Sectors; picture of all of the sectors and sub-sectors shown on a brown background in glass style on a wall panel

Stock Market Sectors

The Industry Classification Benchmark (ICB) 10 main groups are referred to as Industries, although commonly cited as Sectors by the financial press and by companies that provide financial services to the stock market industry. The Global Industry Classification Standard (GICS) and the Thomson Reuters Business Classification (TRBC) also split the stock market into 10 broad sector groups and are basically the same as the ICB classification.

Each of the 10 sectors have various market indices that allow an investor to more accurately track the performance of a particular sector. Not all sectors perform equally with some sectors outperforming or underperforming other sectors at various stages of the economic business cycle.

A sector such as the Utilities is considered a defensive sector and is heavily favored by dividend investors as the stocks generally provide good dividend yields and the stocks tend to be less volatile (especially during economic recessions). Generally the remaining sectors are considered cyclical and are heavily influenced by the state of the economy. Some of the industries within the Consumer goods and Consumer Services sectors have some defensive characteristics.

A brief description of the 10 sectors will give the stock investor an idea of the types of industries that make up each sector. The 10 sectors are as follows.

1. Oil & Gas

Another term for this sector is Energy and includes companies that are engaged in the exploration, production and/or distribution of oil and gas products. Included are companies that supply equipment and machinery to the oil and gas industry. The sector also includes companies involved with alternative fuels and companies that develop renewable energy resources.

2. Basic Materials

This sector includes companies that are involved with the exploration, production and/or distribution of raw materials. Included are companies involved with chemical products, Forestry operators and sawmills and Paper producers. Also included are mining companies such as gold, coal, diamonds and iron ore miners. Steel manufacturers are also included in this sector.

3. Industrials

This broad sector includes companies whose goods are sold to other businesses rather than directly to consumers. Included are companies that produce building materials, construct commercial buildings and architectural firms. The sector includes companies that manufacture aircraft, shipbuilders, military equipment and weapons, electrical and electronic equipment, commercial vehicles, earth moving equipment and industrial machinery. Also included are companies involved with industrial transportation, waste disposal services, business training and employment agencies.

4. Consumer Goods

Companies that produce products for the consumer are included in this sector, such as cars, motorcycles and RVs, domestic appliances, toys, clothing and jewelry. The sector also includes brewers, soda drinks, food producers and cosmetics companies.

5. Health Care

Included in this sector are companies that are involved with providing health care such as hospitals, clinics and nursing homes. Also included are manufacturers and distributors of medical equipment and medical supplies. Pharmaceutical manufactures and biotechnology companies are also included in this sector.

6. Consumer Services

Companies that sell products and provide services to the consumer are included in this sector, such as supermarkets, pharmacies, clothing retailers and home improvement retailers. Also included are companies involved with providing day-care centers, schools and veterinary clinics.

7. Telecommunications

This sector includes companies that provide fixed-line telephone services. Also include are companies that provide mobile telephone services such as cellular and paging services.

8. Utilities

The utility services used by consumers and commercial industries are included in this sector such as electricity distributors, gas distributors and water supply companies. Also included in this sector are alternative electricity generators and distributors.

9. Financials

This sector includes financial companies such as banks, credit card companies, mortgage finance and insurance companies. Also included in this sector are insurance brokers, stock brokers and dealers, and real estate investment trusts.

10. Technology

Included in this sector are companies directly involved with providing technological products such as computers, printers, photocopiers, fax machines, cell phones and teleconferencing equipment. Also includes companies that provide technological services such as internet access providers, home and corporate software, network design and data management. Manufacturers and distributors of semiconductors are also included.

Sectors and Industries List

Sectors and Industries - picture of an investor holding a pen pointing at a glass panel with writing showing business industries for finance and management

The Industry Classification Benchmark (ICB) is used by the New York Stock Exchange (NYSE) for classifying the industries within the stock market. The ICB classification is grouped into 10 broad groups which the ICB refers to as Industries. The Industries are further divided into 20 groups referred to as Supersectors. The Supersectors are divided into 41 Sectors and then further divided into 114 Subsectors.

The ICB classification can cause some confusion amongst stock investors as ICB reverses the meaning of the terms 'Sector' and 'Industry' compared to other classifications systems. It is more common to refer to the main 10 groups as 'Sectors' rather 'Industries' and to use the term 'Industries' as a sub-group. This is highlighted in Table 1. which compares the ICB, GICS and TRBC grouping systems.



Table 1. Comparison of ICB, GICS and TRBC grouping system

Group Subgroup 1. Subgroup 2. Subgroup 3.
ICB Industry Supersector Sector Subsector
GICS Sector Industry group Industry Sub-Industry
TRBC Economic sector Business sectorIndustry groupIndustry

From Table 1. the GICS and TRBC classification systems both use the subgroups 'Industry Group' and 'Industry', but use the term at different subgroup levels.

Note: The terms Sector and Industry are reversed with the ICB classification compared to the GICS and TRBC classifications.

The industries and sectors used for the ICB classification are listed below in Table 2.

A brief summary of the types of companies in each ICB subsector is listed in the next article Summary of Industry listings.



Table 2. ICB Industries and Sectors

Industry Supersector Sector Subsector
Oil & Gas Oil & Gas Oil & Gas Producers Exploration & Production
Integrated Oil & Gas
Oil Equipment, Services & Distribution Oil Equipment & Services
Pipelines
Alternative Energy Renewable Energy Equipment
Alternative Fuels
Industry Supersector Sector Subsector
Basic Materials Chemicals Chemicals Commodity Chemicals
Specialty Chemicals
Basic Resources Forestry & Paper Forestry
Paper
Industrial Metals Aluminum
Nonferrous Metals
Iron & Steel
Mining Coal
Diamonds & Gemstones
General Mining
Gold Mining
Platinum & Precious Metals
Industry Supersector Sector Subsector
Industrials Construction & Materials Construction & Materials Building Materials & Fixtures
Heavy Construction
Industrial Goods & Services Aerospace & Defense Aerospace
Defense
General Industrials Containers & Packaging
Diversified Industrials
Electronic & Electrical Equipment Electrical Components & Equipment
Electronic Equipment
Industrial Engineering Commercial Vehicles & Trucks
Industrial Machinery
Industrial Transportation Delivery Services
Marine Transportation
Railroads
Transportation Services
Trucking
Support Services Business Support Services
Business Training & Employment Agencies
Financial Administration
Industrial Suppliers
Waste & Disposal Services
Industry Supersector Sector Subsector
Consumer Goods Automobiles & Parts Automobiles & Parts Automobiles
Auto Parts
Tires
Food & Beverage Beverages Brewers
Distillers & Vintners
Soft Drinks
Food Producers Farming & Fishing
Food Products
Personal & Household Goods Household Goods & Home ConstructionDurable Household Products
Nondurable Household Products
Furnishings
Home Construction
Leisure Goods Consumer Electronics
Recreational Products
Toys
Personal Goods Clothing & Accessories
Footwear
Personal Products
Tobacco Tobacco
Industry Supersector Sector Subsector
Health Care Health Care Health Care Equipment & Services Health Care Providers
Medical Equipment
Medical Supplies
Pharmaceuticals & Biotechnology Biotechnology
Pharmaceuticals
Industry Supersector Sector Subsector
Consumer Services Retail Food & Drug Retailers Drug Retailers
Food Retailers & Wholesalers
General Retailers Apparel Retailers
Broadline Retailers
Home Improvement Retailers
Specialized Consumer Services
Specialty Retailers
Media Media Broadcasting & Entertainment
Media Agencies
Publishing
Travel & Leisure Travel & Leisure Airlines
Gambling
Hotels
Recreational Services
Restaurants & Bars
Travel & Tourism
Industry Supersector Sector Subsector
Telecom-munications Telecom-munications Fixed Line Tele-communications Fixed Line Tele-communications
Mobile Tele-communications Mobile Tele-communications
Industry Supersector Sector Subsector
Utilities Utilities Electricity Conventional Electricity
Alternative Electricity
Gas, Water & Multi-utilities Gas Distribution
Multi-utilities
Water
Industry Supersector Sector Subsector
Financials Banks Banks Banks
Insurance Nonlife Insurance Full Line Insurance
Insurance Brokers
Property & Casualty Insurance
Reinsurance
Life Insurance Life Insurance
Real Estate Real Estate Investment & Services Real Estate Holding & Development
Real Estate Services
Real Estate Investment Trusts Industrial & Office REITs
Retail REITs
Residential REITs
Diversified REITs
Specialty REITs
Mortgage REITs
Hotel & Lodging REITs
Financial Services Financial Services Asset Managers
Consumer Finance
Specialty Finance
Investment Services
Mortgage Finance
Equity Investment Instruments Equity Investment Instruments
Nonequity Investment Instruments Nonequity Investment Instruments
Industry Supersector Sector Subsector
Technology Technology Software & Computer Services Computer Services
Internet
Software
Technology Hardware & Equipment Computer Hardware
Electronic Office Equipment
Semiconductors
Telecommunications Equipment

Summary of Industry Listings

 Sectors and Industries - Summary of Industry Listings; picture showing all of the industry list on a brown background of glass panel with light speed style effects

It is beneficial for stock investors to understand the industries that are contained within each sector. While the 10 broad sector groupings are useful for analysis, most sectors are quite broad and consist of numerous industries that are not in direct competition with other. Therefore, for investors to perform a more through analysis they need to look at the sub-groupings.

For example, the Basic Materials sector contains a Gold Miner and a Timber Mill. While both of these companies produce a raw material, they are not in competition with each other. Comparing the earnings of a Gold Miner to the earnings of a Timber Mill is pointless and useless. These two companies each belong in their own sub-industry category. Thus a Gold Miner can be compared to other Gold Miners and similarly for the Timber Mill.

The Industry Classification Benchmark (ICB) is shown below with a brief description of the companies in each of the sub-industries as listed in the previous article Sectors and Industries List. The descriptions along with the ICB code are extracted from the ICB information document. The ICB groups shown below are the ICB Industry, then the Sector and finally the Sub-sector.

0001 Oil & Gas

0530 Oil & Gas Producers

  • 0533 Exploration & Production: Companies engaged in the exploration for and drilling, production, refining and supply of oil and gas products.
  • 0537 Integrated Oil & Gas: Integrated oil and gas companies engaged in the exploration for and drilling, production, refining, distribution and retail sales of oil and gas products.

0570 Oil Equipment, Services & Distribution

  • 0573 Oil Equipment & Services: Suppliers of equipment and services to oil fields and offshore platforms, such as drilling, exploration, seismic-information services and platform construction.
  • 0577 Pipelines: Operators of pipelines carrying oil, gas or other forms of fuel. Excludes pipeline operators that derive the majority of their revenues from direct sales to end users, which are classified under Gas Distribution.

0580 Alternative Energy

  • 0583 Renewable Energy Equipment: Companies that develop or manufacture renewable energy equipment utilizing sources such as solar, wind, tidal, geothermal, hydro and waves.
  • 0587 Alternative Fuels: Companies that produce alternative fuels such as ethanol, methanol, hydrogen and bio-fuels that are mainly used to power vehicles, and companies that are involved in the production of vehicle fuel cells and/or the development of alternative fuelling infrastructure.

1000 Basic Materials

1350 Chemicals

  • 1353 Commodity Chemicals: Producers and distributors of simple chemical products that are primarily used to formulate more complex chemicals or products, including plastics and rubber in their raw form, fiberglass and synthetic fibers.
  • 1357 Specialty Chemicals: Producers and distributors of finished chemicals for industries or end users, including dyes, cellular polymers, coatings, special plastics and other chemicals for specialized applications. Includes makers of colorings, flavors and fragrances, fertilizers, pesticides, chemicals used to make drugs, paint in its pigment form and glass in its unfinished form. Excludes producers of paint and glass products used for construction, which are classified under Building Materials & Fixtures.

1730 Forestry & Paper

  • 1733 Forestry: Owners and operators of timber tracts, forest tree nurseries and sawmills. Excludes providers of finished wood products such as wooden beams, which are classified under Building Materials & Fixtures.
  • 1737 Paper: Producers, converters, merchants and distributors of all grades of paper. Excludes makers of printed forms, which are classified under Business Support Services, and manufacturers of paper items such as cups and napkins, which are classified under Nondurable Household Products.

1750 Industrial Metals & Mining

  • 1753 Aluminum: Companies that mine or process bauxite or manufacture and distribute aluminum bars, rods and other products for use by other industries. Excludes manufacturers of finished aluminum products, such as siding, which are categorized according to the type of end product.
  • 1755 Nonferrous Metals: Producers and traders of metals and primary metal products other than iron, aluminum and steel. Excludes companies that make finished products, which are categorized according to the type of end product.
  • 1757 Iron & Steel: Manufacturers and stockholders of primary iron and steel products such as pipes, wires, sheets and bars, encompassing all processes from smelting in blast furnaces to rolling mills and foundries. Includes companies that primarily mine iron ores.

1770 Mining

  • 1771 Coal: Companies engaged in the exploration for or mining of coal.
  • 1773 Diamonds & Gemstones: Companies engaged in the exploration for and production of diamonds and other gemstones.
  • 1775 General Mining: Companies engaged in the exploration, extraction or refining of minerals not defined elsewhere within the Mining sector.
  • 1777 Gold Mining: Prospectors for and extractors or refiners of gold-bearing ores.
  • 1779 Platinum & Precious: Metals Companies engaged in the exploration for and production of platinum, silver and other precious metals not defined elsewhere.

2000 Industrials

2350 Construction & Materials

  • 2353 Building Materials & Fixtures: Producers of materials used in the construction and refurbishment of buildings and structures, including cement and other aggregates, wooden beams and frames, paint, glass, roofing and flooring materials other than carpets. Includes producers of bathroom and kitchen fixtures, plumbing supplies and central air-conditioning and heating equipment. Excludes producers of raw lumber, which are classified under Forestry.
  • 2357 Heavy Construction: Companies engaged in the construction of commercial buildings, infrastructure such as roads and bridges, residential apartment buildings, and providers of services to construction companies, such as architects, masons, plumbers and electrical contractors.

2710 Aerospace & Defense

  • 2713 Aerospace: Manufacturers, assemblers and distributors of aircraft and aircraft parts primarily used in commercial or private air transport. Excludes manufacturers of communications satellites, which are classified under Telecommunications Equipment.
  • 2717 Defense: Producers of components and equipment for the defense industry, including military aircraft, radar equipment and weapons.

2720 General Industrials

  • 2723 Containers & Packaging: Makers and distributors of cardboard, bags, boxes, cans, drums, bottles and jars and glass used for packaging.
  • 2727 Diversified Industrials: Industrial companies engaged in three or more classes of business within the Industrial industry that differ substantially from each other.

2730 Electronic & Electrical Equipment

  • 2733 Electrical Components & Equipment: Makers and distributors of electrical parts for finished products, such as printed circuit boards for radios, televisions and other consumer electronics. Includes makers of cables, wires, ceramics, transistors, electric adapters and security cameras.
  • 2737 Electronic Equipment: Manufacturers and distributors of electronic products used in different industries. Includes makers of lasers, smart cards, bar scanners, fingerprinting equipment and other electronic factory equipment.

2750 Industrial Engineering

  • 2753 Commercial Vehicles & Trucks: Manufacturers and distributors of commercial vehicles and heavy agricultural and construction machinery, including rail cars, tractors, bulldozers, cranes, buses and industrial lawn mowers. Includes non-military shipbuilders, such as builders of cruise ships and ferries.
  • 2757 Industrial Machinery: Designers, manufacturers, distributors and installers of industrial machinery and factory equipment, such as machine tools, lathes, presses and assembly line equipment. Includes makers of pollution control equipment, castings, pressings, welded shapes, structural steelwork, compressors, pumps, bearings, elevators and escalators.

2770 Industrial Transportation

  • 2771 Delivery Services: Operators of mail and package delivery services for commercial and consumer use. Includes courier and logistic services primarily involving air transportation.
  • 2773 Marine Transportation: Providers of on-water transportation for commercial markets, such as container shipping. Excludes ports, which are classified under Transportation Services, and shipbuilders, which are classified under Commercial Vehicles & Trucks.
  • 2775 Railroads: Providers of industrial railway transportation and railway lines. Excludes passenger railway companies, which are classified under Travel & Tourism, and manufacturers of rail cars, which are classified under Commercial Vehicles & Trucks.
  • 2777 Transportation Services: Companies providing services to the Industrial Transportation sector, including companies that manage airports, train depots, roads, bridges, tunnels, ports, and providers of logistic services to shippers of goods. Includes companies that provide aircraft and vehicle maintenance services.
  • 2779 Trucking: Companies that provide commercial trucking services. Excludes road and tunnel operators, which are classified under Transportation Services, and vehicle rental and taxi companies, which are classified under Travel & Tourism.

2790 Support Services

  • 2791 Business Support Services: Providers of nonfinancial services to a wide range of industrial enterprises and governments. Includes providers of printing services, management consultants, office cleaning services, and companies that install, service and monitor alarm and security systems.
  • 2793 Business Training & Employment Agencies: Providers of business or management training courses and employment services. Industry Supersector Sector Subsector Definition.
  • 2795 Financial Administration: Providers of computerized transaction processing, data communication and information services, including payroll, bill payment and employee benefit services.
  • 2797 Industrial Suppliers: Distributors and wholesalers of diversified products and equipment primarily used in the commercial and industrial sectors. Includes builders merchants.
  • 2799 Waste & Disposal Services: Providers of pollution control and environmental services for the management, recovery and disposal of solid and hazardous waste materials, such as landfills and recycling centers. Excludes manufacturers of industrial air and water filtration equipment, which are classified under Industrial Machinery.

3000 Consumer Goods

3350 Automobiles & Parts

  • 3353 Automobiles: Makers of motorcycles and passenger vehicles, including cars, sport utility vehicles (SUVs) and light trucks. Excludes makers of heavy trucks, which are classified under Commercial Vehicles & Trucks, and makers of recreational vehicles (RVs and ATVs), which are classified under Recreational Products.
  • 3355 Auto Parts: Manufacturers and distributors of new and replacement parts for motorcycles and automobiles, such as engines, carburetors and batteries. Excludes producers of tires, which are classified under Tires.
  • 3357 Tires: Manufacturers, distributors and retreaders of automobile, truck and motorcycle tires.

3530 Beverages

  • 3533 Brewers: Manufacturers and shippers of cider or malt products such as beer, ale and stout.
  • 3535 Distillers & Vintners: Producers, distillers, vintners, blenders and shippers of wine and spirits such as whisky, brandy, rum, gin or liqueurs.
  • 3537 Soft Drinks: Manufacturers, bottlers and distributors of non-alcoholic beverages, such as soda, fruit juices, tea, coffee and bottled water.

3570 Food Producers

  • 3573 Farming & Fishing: Companies that grow crops or raise livestock, operate fisheries or own nontobacco plantations. Includes manufacturers of livestock feeds and seeds and other agricultural products but excludes manufacturers of fertilizers or pesticides, which are classified under Specialty Chemicals.
  • 3577 Food Products: Food producers, including meatpacking, snacks, fruits, vegetables, dairy products and frozen seafood. Includes producers of pet food and manufacturers of dietary supplements, vitamins and related items. Excludes producers of fruit juices, tea, supplements, vitamins and related items. Excludes producers of fruit juices, tea, coffee, bottled water and other non-alcoholic beverages, which are classified under Soft Drinks.

3720 Household Goods & Home Construction

  • 3722 Durable Household Products: Manufacturers and distributors of domestic appliances, lighting, hand tools and power tools, hardware, cutlery, tableware, garden equipment, luggage, towels and linens.
  • 3724 Nondurable Household Products: Producers and distributors of pens, paper goods, batteries, light bulbs, tissues, toilet paper and cleaning products such as soaps and polishes.
  • 3726 Furnishings: Manufacturers and distributors of furniture, including chairs, tables, desks, carpeting, wallpaper and office furniture.
  • 3728 Home Construction: Constructors of residential homes, including manufacturers of mobile and prefabricated homes intended for use in one place.

3740 Leisure Goods

  • 3743 Consumer Electronics: Manufacturers and distributors of consumer electronics, such as TVs, VCRs, DVD players, audio equipment, cable boxes, calculators and camcorders.
  • 3745 Recreational Products: Manufacturers and distributors of recreational equipment. Includes musical instruments, photographic equipment and supplies, RVs, ATVs and marine recreational vehicles such as yachts, dinghies and speedboats.
  • 3747 Toys: Manufacturers and distributors of toys and video/computer games, including such toys and games as playing cards, board games, stuffed animals and dolls.

3760 Personal Goods

  • 3763 Clothing & Accessories: Manufacturers and distributors of all types of clothing, jewelry, watches or textiles. Includes sportswear, sunglasses, eyeglass frames, leather clothing and goods, and processors of hides and skins.
  • 3765 Footwear: Manufacturers and distributors of shoes, boots, sandals, sneakers and other types of footwear.
  • 3767 Personal Products: Makers and distributors of cosmetics, toiletries and personal-care and hygiene products, including deodorants, soaps, toothpaste, perfumes, diapers, shampoos, razors and feminine-hygiene products. Includes makers of contraceptives other than oral contraceptives, which are classified under Pharmaceuticals.

3780 Tobacco

  • 3785 Tobacco: Manufacturers and distributors of cigarettes, cigars and other tobacco products. Includes tobacco plantations.

4000 Health Care

4530 Health Care Equipment & Services

  • 4533 Health Care Providers: Owners and operators of health maintenance organizations, hospitals, clinics, dentists, opticians, nursing homes, rehabilitation and retirement centers. Excludes veterinary services, which are classified under Specialized Consumer Services.
  • 4535 Medical Equipment: Manufacturers and distributors of medical devices such as MRI scanners, prosthetics, pacemakers, X-ray machines and other non-disposable medical devices.
  • 4537 Medical Supplies: Manufacturers and distributors of medical supplies used by health care providers and the general public. Includes makers of contact lenses, eyeglass lenses, bandages and other disposable medical supplies.

4570 Pharmaceuticals & Biotechnology

  • 4573 Biotechnology: Companies engaged in research into and development of biological substances for the purposes of drug discovery and diagnostic development, and which derive the majority of their revenue from either the sale or licensing of these drugs and diagnostic tools.
  • 4577 Pharmaceuticals: Manufacturers of prescription or over-the-counter drugs, such as aspirin, cold remedies and birth control pills. Includes vaccine producers but excludes vitamin producers, which are classified under Food Products.

5000 Consumer Services

5330 Food & Drug Retailers

  • 5333 Drug Retailers: Operators of pharmacies, including wholesalers and distributors catering to these businesses.
  • 5337 Food Retailers & Wholesalers: Supermarkets, food-oriented convenience stores and other food retailers and distributors. Includes retailers of dietary supplements and vitamins.

5370 General Retailers

  • 5371 Apparel Retailers: Retailers and wholesalers specializing mainly in clothing, shoes, jewelry, sunglasses and other accessories.
  • 5373 Broadline Retailers: Retail outlets and wholesalers offering a wide variety of products including both hard goods and soft goods.
  • 5375 Home Improvement Retailers:Retailers and wholesalers concentrating on the sale of home improvement products, including garden equipment, carpets, wallpaper, paint, home furniture, blinds and curtains, and building materials.
  • 5377 Specialized Consumer Services: Providers of consumer services such as auction houses, day-care centers, dry cleaners, schools, consumer rental companies, veterinary clinics, hair salons and providers of funeral, lawn-maintenance, consumer-storage, heating and cooling installation and plumbing services.
  • 5379 Specialty Retailers: Retailers and wholesalers concentrating on a single class of goods, such as electronics, books, automotive parts or closeouts. Includes automobile dealerships, video rental stores, dollar stores, duty-free shops and automotive fuel stations not owned by oil companies.

5550 Media

  • 5553 Broadcasting & Entertainment: Producers, operators and broadcasters of radio, television, music and filmed entertainment. Excludes movie theatres, which are classified under Recreational Services.
  • 5555 Media Agencies: Companies providing advertising, public relations and marketing services. Includes billboard providers and telemarketers.
  • 5557 Publishing: Publishers of information via printed or electronic media.

5750 Travel & Leisure

  • 5751 Airlines: Companies providing primarily passenger air transport. Excludes airports, which are classified under Transportation Services.
  • 5752 Gambling: Providers of gambling and casino facilities. Includes online casinos, racetracks and the manufacturers of pachinko machines and casino and lottery equipment.
  • 5753 Hotels: Operators and managers of hotels, motels, lodges, resorts, spas and campgrounds.
  • 5755 Recreational Services: Providers of leisure facilities and services, including fitness centers, cruise lines, movie theatres and sports teams.
  • 5757 Restaurants & Bars: Operators of restaurants, fast-food facilities, coffee shops and bars. Includes integrated brewery companies and catering companies.
  • 5759 Travel & Tourism: Companies providing travel and tourism related services, including travel agents, online travel reservation services, automobile rental firms and companies that primarily provide passenger transportation, such as buses, taxis, passenger rail and ferry companies.

6000 Telecommunications

6530 Fixed Line Telecommunications

  • 6535 Fixed Line Telecommunications: Providers of fixed-line telephone services, including regional and long-distance. Includes companies that primarily provide telephone services through the internet. Excludes companies whose primary business is Internet access, which are classified under Internet.

6570 Mobile Telecommunications

  • 6575 Mobile Telecommunications: Providers of mobile telephone services, including cellular, satellite and paging services. Includes wireless tower companies that own, operate and lease mobile site towers to multiple wireless service providers.

7000 Utilities

7530 Electricity

  • 7535 Conventional Electricity: Companies generating and distributing electricity through the burning of fossil fuels such as coal, petroleum and natural gas, and through nuclear energy.
  • 7537 Alternative Electricity: Companies generating and distributing electricity from a renewable source. Includes companies that produce solar, water, wind and geothermal electricity.

7570 Gas, Water & Multi-utilities

  • 7573 Gas Distribution: Distributors of gas to end users. Excludes providers of natural gas as a commodity, which are classified under the Oil & Gas industry.
  • 7575 Multi-utilities: Utility companies with significant presence in more than one utility.
  • 7577 Water: Companies providing water to end users, including water treatment plants.

8000 Financials

8350 Banks

  • 8355 Banks: Banks providing a broad range of financial services, including retail banking, loans and money transmissions.

8530 Nonlife Insurance

  • 8532 Full Line Insurance: Insurance companies with life, health, property & casualty and reinsurance interests, no one of which predominates.
  • 8534 Insurance Brokers: Insurance brokers and agencies.
  • 8536 Property & Casualty Insurance: Companies engaged principally in accident, fire, automotive, marine, malpractice and other classes of nonlife insurance.
  • 8538 Reinsurance: Companies engaged principally in reinsurance.

8570 Life Insurance

  • 8575 Life Insurance: Companies engaged principally in life and health insurance.

8630 Real Estate Investment & Services

  • 8633 Real Estate Holding & Development: Companies that invest directly or indirectly in real estate through development, investment or ownership. Excludes real estate investment trusts and similar entities, which are classified as Real Estate Investment Trusts.
  • 8637 Real Estate Services: Companies that provide services to real estate companies but do not own the properties themselves. Includes agencies, brokers, leasing companies, management companies and advisory services. Excludes real estate investment trusts and similar entities, which are classified as Real Estate Investment Trusts.

8670 Real Estate Investment Trusts

  • 8671 Industrial & Office REITs: Real estate investment trusts or corporations (REITs) or listed property trusts (LPTs) that primarily invest in office, industrial and flex properties.
  • 8672 Retail REITs: Real estate investment trusts or corporations (REITs) or listed property trusts (LPTs) that primarily invest in retail properties. Includes malls, shopping centers, strip centers and factory outlets.
  • 8673 Residential REITs: Real estate investment trusts or corporations (REITs) or listed property trusts (LPTs) that primarily invest in residential home properties. Includes apartment buildings and residential communities.
  • 8674 Diversified REITs: Real estate investment trusts or corporations (REITs) or listed property trusts (LPTs) that invest in a variety of property types without a concentration on any single type.
  • 8675 Specialty REITs: Real estate investment trusts or corporations (REITs) or listed property trusts (LPTs) that invest in self storage properties, properties in the health care industry such as hospitals, assisted living facilities and health care laboratories, and other specialized properties such as auto dealership facilities, timber properties and net lease properties.
  • 8676 Mortgage REITs: Real estate investment trusts or corporations (REITs) or listed property trusts (LPTs) that are directly involved in lending money to real estate owners and operators or indirectly through the purchase of mortgages or mortgage backed securities.
  • 8677 Hotel & Lodging REITs: Real estate investment trusts or corporations (REITs) or listed property trusts (LPTs) that primarily invest in hotels or lodging properties.

8770 Financial Services

  • 8771 Asset Managers: Companies that provide custodial, trustee and other related fiduciary services. Includes mutual fund management companies.
  • 8773 Consumer Finance: Credit card companies and providers of personal finance services such as personal loans and check cashing companies.
  • 8775 Specialty Finance: Companies engaged in financial activities not specified elsewhere. Includes companies not classified under Equity Investment Instruments or Nonequity Investment Instruments engaged primarily in owning stakes in a diversified range of companies.
  • 8777 Investment Services: Companies providing a range of specialized financial services, including securities brokers and dealers, online brokers and security or commodity exchanges.
  • 8779 Mortgage Finance: Companies that provide mortgages, mortgage insurance and other related services.

8980 Equity Investment Instruments

  • 8985 Equity Investment Instruments: Corporate closed-ended investment entities identified under distinguishing legislation, such as investment trusts and venture capital trusts.

8990 Nonequity Investment Instruments

  • 8995 Nonequity Investment Instruments: Noncorporate, open-ended investment instruments such as open-ended investment companies and funds, unit trusts, ETFs and currency funds and split capital trusts.

9000 Technology

9530 Software & Computer Services

  • 9533 Computer Services: Companies that provide consulting services to other businesses relating to information technology. Includes providers of computer-system design, systems integration, network and systems operations, data management and storage, repair services and technical support.
  • 9535 Internet: Companies providing Internet-related services, such as Internet access providers and search engines and providers of Web site design, Web hosting, domain-name registration and e-mail services.
  • 9537 Software: Publishers and distributors of computer software for home or corporate use. Excludes computer game producers, which are classified under Toys.

9570 Technology Hardware & Equipment

  • 9572 Computer Hardware: Manufacturers and distributors of computers, servers, mainframes, workstations and other computer hardware and subsystems, such as mass-storage drives, mice, keyboards and printers.
  • 9574 Electronic Office Equipment: Manufacturers and distributors of electronic office equipment, including photocopiers and fax machines.
  • 9576 Semiconductors: Producers and distributors of semiconductors and other integrated chips, including other products related to the semiconductor industry, such as semiconductor capital equipment and motherboards. Excludes makers of printed circuit boards, which are classified under Electrical Components & Equipment.
  • 9578 Telecommunications Equipment: Makers and distributors of high-technology communication products, including satellites, mobile telephones, fibers optics, switching devices, local and wide-area networks, teleconferencing equipment and connectivity devices for computers, including hubs and routers.

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