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GICS® is an industry analysis framework that helps investors understand the key business activities for companies around the world. MSCI and S&P Dow Jones Indices developed this classification standard to provide investors with consistent and exhaustive industry definitions.

as of March 17, 2023


Nutshell and use cases - GICS

  • GICS® in a nutshell

    • GICS® is a four-tiered, hierarchical industry classification system. The four tiers are: Sectors, Industry Groups, Industries and Sub-Industries.
    • All definitions are standardized and applied to companies globally.
    • Each company is assigned a single GICS® classification in each of the four tiers, according to its principal business activity.
    • Revenues is a key factor in determining a firm’s principal business activity.
    • Earnings and market perception, however, are also recognized as important and relevant information for classification purposes, and are taken into account during the annual review process.
    • GICS® is reviewed annually to ensure it remains fully representative of global market dynamics.

    Learn more about the GICS® structure & Sub-Industry definitions (XLS, 77 KB) .

  • Use cases

    • Capture and assess the impact of global, regional, or local industry trends on a portfolio.
    • Compare and report on industry sector exposures versus peers or indexes.
    • Pinpoint industry investment opportunities across developed and emerging markets.
    • Analyze sector and industry contributions to portfolio performance.
    • Construct sector-based and sector rotation investment strategies.

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GICS® Framework Reclassification 2023

The evolution of industry sectors across world markets is dynamic and reflective of a constantly shifting landscape. Consequently, MSCI and S&P have announced the reclassification of several industries and sub-industries within the GICS® framework.

Download Transcript (PDF, 113 KB) (opens in a new tab)

GICS Annual Review and Consultations

OFFICIAL TRANSLATIONS OF GICS<sup>®</sup> STRUCTURE EFFECTIVE CLOSE OF MARCH 17, 2023 IN GICS<sup>®</sup> DIRECT

Historical GICS<sup>®</sup> Structures

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