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What ETF Investors Need to Know About GICS Changes

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  • (0:45) - Understanding The Changes To The Global Industry Classification Standard
  • (7:00) - How Will The Incoming Changes Impact The Sector Valuations?
  • (12:30) - What Kind Of Fundamental Changes To Industries Can Investors Expect?
  • (17:10) - Breaking Down The ETF Fund Flow Trends: What Should You Know Right Now?
  • (20:45) - Episode Roundup: XLK, XLF, XLI, XLY, XLP, VGT, VFH, VCR, VTC, VIS


In this episode of ETF Spotlight, I speak with Matthew Bartolini, Head of SPDR Americas Research at State Street Global Advisors, about GICS changes that will impact many popular sector and industry ETFs.

Last year, S&P Dow Jones Indices and MSCI announced changes to the Global Industry Classification Standard (GICS) and published the full list of companies that will be affected. These changes will go into effect after the close of trading on March 17, 2023.

The reclassification of firms will occur across five GICS sectors and will impact sector ETFs like the $44 billion Vanguard Information Technology ETF (VGT - Free Report) and the $41 billion Technology Select Sector SPDR ETF (XLK - Free Report) .

Visa (V - Free Report) and MasterCard (MA - Free Report) , will leave the Information Technology sector as the Data Processing & Outsourced Services sub-industry is being discontinued. These firms will join the Financials Sector and ETFs like the Financial Select Sector SPDR ETF (XLF - Free Report) and the Vanguard Financial ETF (VFH - Free Report) .     

Retailers that generate most of their revenue or earnings from staple items like food, household, and personal care products will be moved from Consumer Discretionary to Consumer Staples Sector.

As a result, firms like Target (TGT - Free Report) and Dollar General (DG - Free Report) will leave the Consumer Discretionary Select Sector SPDR ETF (XLY - Free Report) and join the Consumer Staples Select Sector SPDR ETF (XLP - Free Report) .

Tune in to the podcast to learn more. Make sure to be on the lookout for the next edition of the ETF Spotlight! If you have any comments or questions, please email


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