The Global Industry Classification Standard (GICS®)
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.
- 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.
- 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.
Learn more about the GICS® structure & Sub-Industry definitions
Further reading
S&P Dow Jones Indices and MSCI announce revisions to The Global Industry Classification Standard (GICS®) structure in 2023
MSCI and S&P Dow Jones Indices announce GICS sub-industry definitions enhanced for greater clarity
Global Industry Classification Standard (GICS) to Include REIT-Eligible Country List
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GICS® sector definitions
Covering Energy, Materials, Industrials, Consumer Discretionary, Consumer Staples, Health Care, Financials, Information Technology, Real Estate, Communication Services and Utilities Sector.
Indexes
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Sector Indexes
MSCI has developed a wide range of sector and industry indexes, across regions and countries, to support sector allocation decisions and incorporate tactical views into investor portfolios.