GICS (Global Industry Classification Standard)

Effective after close of business (US, EST) Friday February 28, 2014
Red indicates name, definition or structure changes.
Sector
10

15

Energy

Materials

Industry Group

Industry

1010

101010

Energy Equipment &

Services

101020

Oil, Gas & Consumable

Fuels

151010

Chemicals

1510

Energy

Materials

20

Industrials

2010

Capital Goods

151020

Construction Materials

151030

Containers & Packaging

151040

Metals & Mining

151050

Paper & Forest Products

201010

Aerospace & Defense

201020

Building Products

2020

Commercial & Professional

Services

201030

Construction & Engineering

201040

Electrical Equipment

201050

Industrial Conglomerates

201060

Machinery

201070

Trading Companies &

Distributors

202010

Commercial Services &

Supplies

20

Industrials

2020

(continued)

Commercial & Professional

Services

202020

Professional Services

203010

Air Freight & Logistics

203020

Airlines

203030

Marine

203040

Road & Rail

203050

Transportation Infrastructure

(continued)

2030

Transportation

25

Consumer
Discretionary 2510

2520

Automobiles & Components 251010

Consumer Durables &

Apparel

Auto Components

251020

Automobiles

252010

Household Durables

252020

Leisure Products

252030

Textiles, Apparel & Luxury

Goods

25

Consumer
Discretionary 2530

Consumer Services

253010

Hotels, Restaurants &

Leisure

253020

Diversified Consumer
Services

(continued)

2540

Media

254010

Media

2550

Retailing

255010

Distributors

30

Consumer
Staples

255020

Internet & Catalog Retail

255030

Multiline Retail

255040

Specialty Retail

3010

Food & Staples Retailing

301010

Food & Staples Retailing

3020

Food, Beverage & Tobacco

302010

Beverages

3030

35

Health Care

3510

Household & Personal

Products

Health Care Equipment &

Services

302020

Food Products

302030

Tobacco

303010

Household Products

303020

Personal Products

351010

Health Care Equipment &

Supplies

351020

Health Care Providers &

Services

351030

Health Care Technology

3520

40

Financials

4010

4020

Pharmaceuticals,
Biotechnology & Life
Sciences

Banks

Diversified Financials

352010

Biotechnology

352020

Pharmaceuticals

352030

Life Sciences Tools &

Services

401010

Banks

401020

Thrifts & Mortgage Finance

402010

Diversified Financial
Services

40

Financials

402020

Consumer Finance

402030

Capital Markets

4030

Insurance

403010

Insurance

4040

Real Estate

404010

Real Estate -- Discontinued

effective 04/28/2006

(continued)

404020

Real Estate Investment

Trusts (REITs)

404030

Real Estate Management &

Development

45

45

Information
Technology

Information
Technology

4510

4520

Software & Services

Technology Hardware &

Equipment

451010

Internet Software & Services

451020

IT Services

451030

Software

452010

Communications Equipment

452020

Technology Hardware,
Storage & Peripherals

(continued)

4530

50

Telecommuni
cation
Services
5010

Semiconductors &
Semiconductor Equipment

452030

Electronic Equipment,
Instruments & Components

452040

Office Electronics Discontinued effective

02/28/2014

452050

Semiconductor Equipment &

Products -- Discontinued
effective 04/30/2003.

453010

Semiconductors &
Semiconductor Equipment

Telecommunication Services 501010

Diversified
Telecommunication Services

55

Utilities

5510

Utilities

501020

Wireless Telecommunication
Services

551010

Electric Utilities

551020

Gas Utilities

551030

Multi-Utilities

551040

Water Utilities

551050

Independent Power and

Renewable Electricity
Producers

Sub-Industry
10101010
10101020

10102010

10102020

10102030

10102040

10102050

15101010

15101020

15101030

15101040
15101050

15102010

15103010
15103020
15104010

15104020

15104030

15104040

15104045

15104050

15105010

15105020

20101010

20102010

20103010

20104010

20104020

20105010

20106010

20106015

20106020

20107010

20201010

20201020
20201030

20201040

20201050

20201060

20201070

20201080

20202010

20202020

20301010

20302010
20303010

20304010
20304020

20305010
20305020

20305030

25101010

25101020
25102010

25102020

25201010

25201020

25201030

25201040

25201050

25202010

25202020

25203010

25203020

25203030

25301010

25301020

25301030

25301040

25302010

25302020

25401010
25401020

25401025

25401030

25401040

25501010

25502010

25502020
25503010
25503020

25504010
25504020

25504030

25504040

25504050

25504060

30101010
30101020
30101030
30101040

30201010

30201020

30201030

30202010

30202020

30202030

30203010

30301010

30302010

35101010

35101020

35102010
35102015

35102020

35102030

35103010

35201010

35202010

35203010

40101010

40101015

40102010

40201010

40201020

40201030

40201040

40202010

40203010

40203020

40203030

40301010

40301020

40301030

40301040
40301050

40401010
40401020

40402010

40402020

40402030

40402035

40402040

40402045

40402050

40402060

40402070

40403010

40403020

40403030

40403040

45101010

45102010

45102020

45103010

45103020

45103030

45201020

45201010

45201020

45202010

45202020

45202030

45203010

45203015

45203020

45203030

45204010

45205010
45205020

45301010

45301020

50101010

50101020

50102010

55101010

55102010

55103010

55104010

55105010

55105020

ub-Industry
Oil & Gas Drilling
Drilling contractors or owners of drilling rigs that contract their services for drilling wells
Oil & Gas Equipment & Services
Manufacturers of equipment, including drilling rigs and equipment, and providers of supplies and services to companies
involved in the drilling, evaluation and completion of oil and gas wells.
Integrated Oil & Gas
Integrated oil companies engaged in the exploration & production of oil and gas, as well as at least one other significant
activity in either refining, marketing and transportation, or chemicals.
Oil & Gas Exploration & Production
Companies engaged in the exploration and production of oil and gas not classified elsewhere.
Oil & Gas Refining & Marketing
Companies engaged in the refining and marketing of oil, gas and/or refined products not classified in the Integrated Oil & Gas
or Independent Power Producers & Energy Traders Sub-Industries.
Oil & Gas Storage & Transportation
Companies engaged in the storage and/or transportation of oil, gas and/or refined products. Includes diversified midstream
natural gas companies facing competitive markets, oil and refined product pipelines, coal slurry pipelines and oil & gas
shipping companies.
Coal & Consumable Fuels
Companies primarily involved in the production and mining of coal, related products and other consumable fuels related to the
generation of energy. Excludes companies primarily producing gases classified in the Industrial Gases sub-industry and
companies primarily mining for metallurgical (coking) coal used for steel production.
Commodity Chemicals

Companies that primarily produce industrial chemicals and basic chemicals. Including but not limited to plastics, synthetic
fibers, films, commodity-based paints & pigments, explosives and petrochemicals. Excludes chemical companies classified in
the Diversified Chemicals, Fertilizers & Agricultural Chemicals, Industrial Gases, or Specialty Chemicals Sub-Industries.
Diversified Chemicals
Manufacturers of a diversified range of chemical products not classified in the Industrial Gases, Commodity Chemicals,
Specialty Chemicals or Fertilizers & Agricultural Chemicals Sub-Industries.
Fertilizers & Agricultural Chemicals
Producers of fertilizers, pesticides, potash or other agriculture-related chemicals not classified elsewhere.
Industrial Gases
Manufacturers of industrial gases.
Specialty Chemicals

Companies that primarily produce high value-added chemicals used in the manufacture of a wide variety of products,
including but not limited to fine chemicals, additives, advanced polymers, adhesives, sealants and specialty paints, pigments
and coatings.
Construction Materials
Manufacturers of construction materials including sand, clay, gypsum, lime, aggregates, cement, concrete and bricks. Other
finished or semi-finished building materials are classified in the Building Products Sub-Industry.
Metal & Glass Containers
Manufacturers of metal, glass or plastic containers. Includes corks and caps.
Paper Packaging
Manufacturers of paper and cardboard containers and packaging.
Aluminum
Producers of aluminum and related products, including companies that mine or process bauxite and companies that recycle
aluminum to produce finished or semi-finished products. Excludes companies that primarily produce aluminum building
materials classified in the Building Products Sub-Industry.
Diversified Metals & Mining

Companies engaged in the diversified production or extraction of metals and minerals not classified elsewhere. Including, but
not limited to, nonferrous metal mining (except bauxite), salt and borate mining, phosphate rock mining, and diversified mining
operations. Excludes iron ore mining, classified in the Steel Sub-Industry, bauxite mining, classified in the Aluminum SubIndustry, and coal mining, classified in either the Steel or Coal & Consumable Fuels Sub-Industries.
Gold
Producers of gold and related products, including companies that mine or process gold and the South African finance houses
which primarily invest in, but do not operate, gold mines.
Precious Metals & Minerals
Companies mining precious metals and minerals not classified in the Gold Sub-Industry. Includes companies primarily mining
platinum.
Silver
Companies primarily mining silver. Excludes companies classified in the Gold or Precious Metals & Minerals Sub-Industries.
Steel
Producers of iron and steel and related products, including metallurgical (coking) coal mining used for steel production.
Forest Products
Manufacturers of timber and related wood products. Includes lumber for the building industry.
Paper Products
Manufacturers of all grades of paper. Excludes companies specializing in paper packaging classified in the Paper Packaging
Sub-Industry.
Aerospace & Defense
Manufacturers of civil or military aerospace and defense equipment, parts or products. Includes defense electronics and
space equipment.
Building Products
Manufacturers of building components and home improvement products and equipment. Excludes lumber and plywood
classified under Forest Products and cement and other materials classified in the Construction Materials Sub-Industry.

Construction & Engineering

Companies engaged in primarily non-residential construction. Includes civil engineering companies and large-scale
contractors. Excludes companies classified in the Homebuilding Sub-Industry.
Electrical Components & Equipment
Companies that produce electric cables and wires, electrical components or equipment not classified in the Heavy Electrical
Equipment Sub-Industry.
Heavy Electrical Equipment
Manufacturers of power-generating equipment and other heavy electrical equipment, including power turbines, heavy
electrical machinery intended for fixed-use and large electrical systems. Excludes cables and wires, classified in the Electrical
Components & Equipment Sub-Industry.
Industrial Conglomerates
Diversified industrial companies with business activities in three or more sectors, none of which contributes a majority of
revenues. Stakes held are predominantly of a controlling nature and stake holders maintain an operational interest in the
running of the subsidiaries.
Construction Machinery & Heavy Trucks
Manufacturers of heavy duty trucks, rolling machinery, earth-moving and construction equipment, and manufacturers of
related parts. Includes non-military shipbuilding.
Agricultural & Farm Machinery
Companies manufacturing agricultural machinery, farm machinery, and their related parts. Includes machinery used for the
production of crops and agricultural livestock, agricultural tractors, planting and fertilizing machinery, fertilizer and chemical
application equipment, and grain dryers and blowers.
Industrial Machinery
Manufacturers of industrial machinery and industrial components. Includes companies that manufacture presses, machine
tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings and other metal
fabrications.
Trading Companies & Distributors
Trading companies and other distributors of industrial equipment and products.

Commercial Printing
Companies providing commercial printing services. Includes printers primarily serving the media industry.
Data Processing Services -- Discontinued effective 04/30/2003.
Providers of commercial electronic data processing services.
Diversified Commercial & Professional Services -- Discontinued effective 08/31/2008
Companies primarily providing commercial, industrial and professional services to businesses and governments not classified
elsewhere. Includes commercial cleaning services, consulting services, correctional facilities, dining & catering services,
document & communication services, equipment repair services, security & alarm services, storage & warehousing, and
uniform rental services.
Human Resource & Employment Services -- Discontinued effective 08/31/2008
Companies providing business support services relating to human capital management. Includes employment agencies,
employee training, payroll & benefit support services, retirement support services and temporary agencies.
Environmental & Facilities Services

Companies providing environmental and facilities maintenance services. Includes waste management, facilities management
and pollution control services. Excludes large-scale water treatment systems classified in the Water Utilities Sub-Industry.
Office Services & Supplies
Providers of office services and manufacturers of office supplies and equipment not classified elsewhere.
Diversified Support Services

Companies primarily providing labor oriented support services to businesses and governments. Includes commercial cleaning
services, dining & catering services, equipment repair services, industrial maintenance services, industrial auctioneers,
storage & warehousing, transaction services, uniform rental services, and other business support services.
Security & Alarm Services

Companies providing security and protection services to business and governments. Includes companies providing services
such as correctional facilities, security & alarm services, armored transportation & guarding. Excludes companies providing
security software classified under the Systems Software Sub-Industry and home security services classified under the
Specialized Consumer Services Sub-Industry. Also excludes companies manufacturing security system equipment classified
under the Electronic Equipment & Instruments Sub-Industry.

Human Resource & Employment Services

Companies providing business support services relating to human capital management. Includes employment agencies,
employee training, payroll & benefit support services, retirement support services and temporary agencies.
Research & Consulting Services

Companies primarily providing research and consulting services to businesses and governments not classified elsewhere.
Includes companies involved in management consulting services, architectural design, business information or scientific
research, marketing, and testing & certification services. Excludes companies providing information technology consulting
services classified in the IT Consulting & Other Services Sub-Industry.
Air Freight & Logistics
Companies providing air freight transportation, courier and logistics services, including package and mail delivery and
customs agents. Excludes those companies classified in the Airlines, Marine or Trucking Sub-Industries.
Airlines
Companies providing primarily passenger air transportation.
Marine
Companies providing goods or passenger maritime transportation. Excludes cruise-ships classified in the Hotels, Resorts &
Cruise Lines Sub-Industry.
Railroads
Companies providing primarily goods and passenger rail transportation.
Trucking
Companies providing primarily goods and passenger land transportation. Includes vehicle rental and taxi companies.
Airport Services
Operators of airports and companies providing related services.
Highways & Railtracks
Owners and operators of roads, tunnels and railtracks.

Marine Ports & Services

Owners and operators of marine ports and related services.

Auto Parts & Equipment

Manufacturers of parts and accessories for automobiles and motorcycles. Excludes companies classified in the Tires &
Rubber Sub-Industry.
Tires & Rubber
Manufacturers of tires and rubber.
Automobile Manufacturers
Companies that produce mainly passenger automobiles and light trucks. Excludes companies producing mainly motorcycles
and three-wheelers classified in the Motorcycle Manufacturers Sub-Industry and heavy duty trucks classified in the
Construction Machinery & Heavy Trucks Sub-Industry.
Motorcycle Manufacturers
Companies that produce motorcycles, scooters or three-wheelers. Excludes bicycles classified in the Leisure Products SubIndustry.
Consumer Electronics

Manufacturers of consumer electronics products including TVs, home audio equipment, game consoles, digital cameras, and
related products. Excludes personal home computer manufacturers classified in the Technology Hardware, Storage &
Peripherals Sub-Industry, and electric household appliances classified in the Household Appliances Sub-Industry.
Home Furnishings
Manufacturers of soft home furnishings or furniture, including upholstery, carpets and wall-coverings.
Homebuilding
Residential construction companies. Includes manufacturers of prefabricated houses and semi-fixed manufactured homes.
Household Appliances

Manufacturers of electric household appliances and related products. Includes manufacturers of power and hand tools,
including garden improvement tools. Excludes TVs and other audio and video products classified in the Consumer Electronics
Sub-Industry and personal computers classified in the Technology Hardware, Storage & Peripherals Sub-Industry.
Housewares & Specialties
Manufacturers of durable household products, including cutlery, cookware, glassware, crystal, silverware, utensils,
kitchenware and consumer specialties not classified elsewhere.
Leisure Products
Manufacturers of leisure products and equipment including sports equipment, bicycles and toys.
Photographic Products - Discontinued effective 02/28/2014
Manufacturers of photographic equipment and related products.
Apparel, Accessories & Luxury Goods
Manufacturers of apparel, accessories & luxury goods. Includes companies primarily producing designer handbags, wallets,
luggage, jewelry and watches. Excludes shoes classified in the Footwear Sub-Industry.
Footwear

Manufacturers of footwear. Includes sport and leather shoes.

Textiles
Manufacturers of textile and related products not classified in the Apparel, Accessories & Luxury Goods, Footwear or Home
Furnishings Sub-Industries.

Casinos & Gaming

Owners and operators of casinos and gaming facilities. Includes companies providing lottery and betting services.
Hotels, Resorts & Cruise Lines
Owners and operators of hotels, resorts and cruise-ships. Includes travel agencies, tour operators and related services not
classified elsewhere . Excludes casino-hotels classified in the Casinos & Gaming Sub-Industry.
Leisure Facilities
Owners and operators of leisure facilities, including sport and fitness centers, stadiums, golf courses and amusement parks
not classified in the Movies & Entertainment Sub-Industry.
Restaurants
Owners and operators of restaurants, bars, pubs, fast-food or take-out facilities. Includes companies that provide food
catering services.
Education Services
Companies providing educational services, either on-line or through conventional teaching methods. Includes, private
universities, correspondence teaching, providers of educational seminars, educational materials and technical education.
Excludes companies providing employee education programs classified in the Human Resources & Employment Services
Sub-Industry
Specialized Consumer Services
Companies providing consumer services not classified elsewhere. Includes residential services, home security, legal services,
personal services, renovation & interior design services, consumer auctions and wedding & funeral services.
Advertising
Companies providing advertising, marketing or public relations services.
Broadcasting
Owners and operators of television or radio broadcasting systems, including programming. Includes, radio and television
broadcasting, radio networks, and radio stations.
Cable & Satellite
Providers of cable or satellite television services. Includes cable networks and program distribution.
Movies & Entertainment
Companies that engage in producing and selling entertainment products and services, including companies engaged in the
production, distribution and screening of movies and television shows, producers and distributors of music, entertainment
theaters and sports teams.
Publishing
Publishers of newspapers, magazines and books, and providers of information in print or electronic formats.
Distributors
Distributors and wholesalers of general merchandise not classified elsewhere. Includes vehicle distributors.

Catalog Retail
Mail order and TV home shopping retailers. Includes companies that provide door-to-door retail.
Internet Retail
Companies providing retail services primarily on the internet, not classified elsewhere.
Department Stores
Owners and operators of department stores.
General Merchandise Stores
Owners and operators of stores offering diversified general merchandise. Excludes hypermarkets and large-scale super
centers classified in the Hypermarkets & Super Centers Sub-Industry.
Apparel Retail
Retailers specialized mainly in apparel and accessories.
Computer & Electronics Retail
Owners and operators of consumer electronics, computers, video and related products retail stores.
Home Improvement Retail
Owners and operators of home and garden improvement retail stores. Includes stores offering building materials and supplies.
Specialty Stores
Owners and operators of specialty retail stores not classified elsewhere. Includes jewelry stores, toy stores, office supply
stores, health & vision care stores, and book & entertainment stores.
Automotive Retail
Owners and operators of stores specializing in automotive retail. Includes auto dealers, gas stations, and retailers of auto
accessories, motorcycles & parts, automotive glass, and automotive equipment & parts.
Homefurnishing Retail
Owners and operators of furniture and home furnishings retail stores. Includes residential furniture, homefurnishings,
housewares, and interior design. Excludes home and garden improvement stores, classified in the Home Improvement Retail
Sub-Industry.
Drug Retail
Owners and operators of primarily drug retail stores and pharmacies.
Food Distributors
Distributors of food products to other companies and not directly to the consumer.
Food Retail
Owners and operators of primarily food retail stores.
Hypermarkets & Super Centers
Owners and operators of hypermarkets and super centers selling food and a wide-range of consumer staple products.
Excludes Food and Drug Retailers classified in the Food Retail and Drug Retail Sub-Industries, respectively.
Brewers
Producers of beer and malt liquors. Includes breweries not classified in the Restaurants Sub-Industry.
Distillers & Vintners
Distillers, vintners and producers of alcoholic beverages not classified in the Brewers Sub-Industry.

Soft Drinks
Producers of non-alcoholic beverages including mineral waters. Excludes producers of milk classified in the Packaged Foods
Sub-Industry.
Agricultural Products
Producers of agricultural products. Includes crop growers, owners of plantations and companies that produce and process
foods but do not package and market them. Excludes companies classified in the Forest Products Sub-Industry and those
that package and market the food products classified in the Packaged Foods Sub-Industry.
Meat, Poultry & Fish (discontinued, effective March 28 2002)
Companies that raise livestock or poultry, fishing companies and other producers of meat, poultry or fish products.
Packaged Foods & Meats
Producers of packaged foods including dairy products, fruit juices, meats, poultry, fish and pet foods.
Tobacco
Manufacturers of cigarettes and other tobacco products.
Household Products
Producers of non-durable household products, including detergents, soaps, diapers and other tissue and household paper
products not classified in the Paper Products Sub-Industry.
Personal Products
Manufacturers of personal and beauty care products, including cosmetics and perfumes.

Health Care Equipment

Manufacturers of health care equipment and devices. Includes medical instruments, drug delivery systems, cardiovascular &
orthopedic devices, and diagnostic equipment.
Health Care Supplies
Manufacturers of health care supplies and medical products not classified elsewhere. Includes eye care products, hospital
supplies, and safety needle & syringe devices.

Health Care Distributors

Distributors and wholesalers of health care products not classified elsewhere.
Health Care Services

Providers of patient health care services not classified elsewhere. Includes dialysis centers, lab testing services, and
pharmacy management services. Also includes companies providing business support services to health care providers, such
as clerical support services, collection agency services, staffing services and outsourced sales & marketing services
Health Care Facilities
Owners and operators of health care facilities, including hospitals, nursing homes, rehabilitation centers and animal hospitals.
Managed Health Care
Owners and operators of Health Maintenance Organizations (HMOs) and other managed plans.
Health Care Technology

Companies providing information technology services primarily to health care providers. Includes companies providing
application, systems and/or data processing software, internet-based tools, and IT consulting services to doctors, hospitals or
businesses operating primarily in the Health Care Sector

Biotechnology

Companies primarily engaged in the research, development, manufacturing and/or marketing of products based on genetic
analysis and genetic engineering. Includes companies specializing in protein-based therapeutics to treat human diseases.
Excludes companies manufacturing products using biotechnology but without a health care application.
Pharmaceuticals
Companies engaged in the research, development or production of pharmaceuticals. Includes veterinary drugs.
Life Sciences Tools & Services
Companies enabling the drug discovery, development and production continuum by providing analytical tools, instruments,
consumables & supplies, clinical trial services and contract research services. Includes firms primarily servicing the
pharmaceutical and biotechnology industries.
Diversified Banks

Large, geographically diverse banks with a national footprint whose revenues are derived primarily from conventional banking
operations, have significant business activity in retail banking and small and medium corporate lending, and provide a diverse
range of financial services. Excludes banks classified in the Regional Banks and Thrifts & Mortgage Finance Sub-Industries.
Also excludes investment banks classified in the Investment Banking & Brokerage Sub-Industry.
Regional Banks

Commercial banks whose businesses are derived primarily from conventional banking operations and have significant
business activity in retail banking and small and medium corporate lending. Regional banks tend to operate in limited
geographic regions. Excludes companies classified in the Diversified Banks and Thrifts & Mortgage Banks sub-industries.
Also excludes investment banks classified in the Investment Banking & Brokerage Sub-Industry.
Thrifts & Mortgage Finance
Financial institutions providing mortgage and mortgage related services. These include financial institutions whose assets are
primarily mortgage related, savings & loans, mortgage lending institutions, building societies and companies providing
insurance to mortgage banks.
Consumer Finance -- Discontinued effective 04/30/2003.
Providers of consumer finance services, including personal credit, credit cards, lease financing, mortgage lenders, travelrelated money services and pawn shops.
Other Diversified Financial Services
Providers of a diverse range of financial services and/or with some interest in a wide range of financial services including
banking, insurance and capital markets, but with no dominant business line. Excludes companies classified in the Regional
Banks and Diversified Banks Sub-Industries.
Multi-Sector Holdings

A company with significantly diversified holdings across three or more sectors, none of which contributes a majority of profit
and/or sales. Stakes held are predominantly of a non-controlling nature. Includes diversified financial companies where stakes
held are of a controlling nature. Excludes other diversified companies classified in the Industrials Conglomerates Sub-Industry.
Specialized Finance
Providers of specialized financial services. Includes credit agencies, stock exchanges and specialty boutiques. Companies in
this Sub-Industry derive a majority of revenue from one, specialized line of business.
Consumer Finance
Providers of consumer finance services, including personal credit, credit cards, lease financing, travel-related money services
and pawn shops. Excludes mortgage lenders classified in the Thrifts & Mortgage Finance Sub-Industry.
Asset Management & Custody Banks

Financial institutions primarily engaged in investment management and/or related custody and securities fee-based services.
Includes companies operating mutual funds, closed-end funds and unit investment trusts. Excludes banks and other financial
institutions primarily involved in commercial lending, investment banking, brokerage and other specialized financial activities.
Investment Banking & Brokerage
Financial institutions primarily engaged in investment banking & brokerage services, including equity and debt underwriting,
mergers and acquisitions, securities lending and advisory services. Excludes banks and other financial institutions primarily
involved in commercial lending, asset management and specialized financial activities.
Diversified Capital Markets
Financial institutions primarily engaged in diversified capital markets activities, including a significant presence in at least two
of the following area: large/major corporate lending, investment banking, brokerage and asset management. Excludes less
diversified companies classified in the Asset Management & Custody Banks or Investment Banking & Brokerage subindustries. Also excludes companies classified in the Banks or Insurance industry groups or the Consumer Finance SubIndustry.
Insurance Brokers
Insurance and reinsurance brokerage firms.
Life & Health Insurance
Companies providing primarily life, disability, indemnity or supplemental health insurance. Excludes managed care companies
classified in the Managed Health Care Sub-Industry.
Multi-line Insurance
Insurance companies with diversified interests in life, health and property and casualty insurance.
Property & Casualty Insurance
Companies providing primarily property and casualty insurance.
Reinsurance
Companies providing primarily reinsurance.

Real Estate Investment Trusts -- Discontinued effective 04/28/2006

Real estate investment trusts (REITs). Includes Property Trusts.
Real Estate Management & Development -- Discontinued effective 04/28/2006
Companies engaged in real estate ownership, development or management.

Diversified REITs
A company or Trust with significantly diversified operations across two or more property types.
Industrial REITs
Companies or Trusts engaged in the acquisition, development, ownership, leasing, management and operation of industrial
properties. Includes companies operating industrial warehouses and distribution properties.
Mortgage REITs
Companies or Trusts that service, originate, purchase and/or securitize residential and/or commercial mortgage loans.
Includes trusts that invest in mortgage-backed securities and other mortgage related assets.
Hotel & Resort REITs
Companies or Trusts engaged in the acquisition, development, ownership, leasing, management and operation of hotel and
resort properties.
Office REITs
Companies or Trusts engaged in the acquisition, development, ownership, leasing, management and operation of office
properties.
Health Care REITs
Companies or Trusts engaged in the acquisition, development, ownership, leasing, management and operation of properties
serving the health care industry, including hospitals, nursing homes, and assisted living properties.
Residential REITs
Companies or Trusts engaged in the acquisition, development, ownership, leasing, management and operation of residential
properties including multifamily homes, apartments, manufactured homes and student housing properties
Retail REITs
Companies or Trusts engaged in the acquisition, development, ownership, leasing, management and operation of shopping
malls, outlet malls, neighborhood and community shopping centers.
Specialized REITs
Companies or Trusts engaged in the acquisition, development, ownership, leasing, management and operation of properties
not classified elsewhere. Includes trusts that operate and invest in storage properties. It also includes REITs that do not
generate a majority of their revenues and income from real estate rental and leasing operations.

Diversified Real Estate Activities

Companies engaged in a diverse spectrum of real estate activities including real estate development & sales, real estate
management, or real estate services, but with no dominant business line.
Real Estate Operating Companies
Companies engaged in operating real estate properties for the purpose of leasing & management.
Real Estate Development
Companies that develop real estate and sell the properties after development. Excludes companies classified in the
Homebuilding Sub-Industry.
Real Estate Services
Real estate service providers such as real estate agents, brokers & real estate appraisers.

Internet Software & Services

Companies developing and marketing internet software and/or providing internet services including online databases and
interactive services, as well as companies deriving a majority of their revenues from online advertising. Excludes companies
classified in the Internet Retail Sub-Industry.
IT Consulting & Other Services
Providers of information technology and systems integration services not classified in the Data Processing & Outsourced
Services or Internet Software & Services Sub-Industries. Includes information technology consulting and information
management services.
Data Processing & Outsourced Services
Providers of commercial electronic data processing and/or business process outsourcing services. Includes companies that
provide services for back-office automation.
Application Software
Companies engaged in developing and producing software designed for specialized applications for the business or
consumer market. Includes enterprise and technical software. Excludes companies classified in the Home Entertainment
Software Sub-Industry. Also excludes companies producing systems or database management software classified in the
Systems Software Sub-Industry.
Systems Software
Companies engaged in developing and producing systems and database management software.
Home Entertainment Software
Manufacturers of home entertainment software and educational software used primarily in the home.

Communications Equipment
Manufacturers of communication equipment and products, including LANs, WANs, routers, telephones, switchboards and
exchanges. Excludes cellular phone manufacturers classified in the Technology Hardware, Storage & Peripherals SubIndustry.
Networking Equipment -- Discontinued effective 04/30/2003.
Manufacturers of computer networking equipment and products, including LANs, WANs and routers.
Telecommunications Equipment -- Discontinued effective 04/30/2003.
Manufacturers of telecommunication equipment, including telephones, switchboards and exchanges. Excludes companies
classified in the Networking Equipment Sub-Industry.

Computer Hardware - Discontinued effective 02/28/2014

Manufacturers of personal computers, servers, mainframes and workstations. Includes manufacturers of Automatic Teller
Machines (ATMs). Excludes manufacturers of copiers, faxes and related products classified in the Office Electronics SubIndustry.
Computer Storage & Peripherals - Discontinued effective 02/28/2014

Manufacturers of electronic computer components and peripherals. Includes data storage components, motherboards, audio
and video cards, monitors, keyboards, printers and other peripherals. Excludes semiconductors classified in the
Semiconductors Sub-Industry.
Technology Hardware, Storage & Peripherals
Manufacturers of cellular phones, personal computers, servers, electronic computer components and peripherals. Includes
data storage components, motherboards, audio and video cards, monitors, keyboards, printers, and other peripherals.
Excludes semiconductors classified in the Semiconductors Sub-Industry.

Electronic Equipment & Instruments

Manufacturers of electronic equipment and instruments including analytical, electronic test and measurement instruments,
scanner/barcode products, lasers, display screens, point-of-sales machines, and security system equipment.
Electronic Components
Manufacturers of electronic components. Includes electronic components, connection devices, electron tubes, electronic
capacitors and resistors, electronic coil, printed circuit board, transformer and other inductors, signal processing
technology/components.
Electronic Manufacturing Services
Producers of electronic equipment mainly for the OEM (Original Equipment Manufacturers) markets.
Technology Distributors
Distributors of technology hardware and equipment. Includes distributors of communications equipment, computers &
peripherals, semiconductors, and electronic equipment and components.

Office Electronics - Discontinued effective 02/28/2014

Manufacturers of office electronic equipment including copiers and faxes.

Semiconductor Equipment -- Discontinued effective 04/30/2003.

Manufacturers of semiconductor equipment.
Semiconductors -- Discontinued effective 04/30/2003.
Manufacturers of semiconductors and related products.

Semiconductor Equipment
Manufacturers of semiconductor equipment, including manufacturers of the raw material and equipment used in the solar
power industry.
Semiconductors
Manufacturers of semiconductors and related products, including manufacturers of solar modules and cells.

Alternative Carriers
Providers of communications and high-density data transmission services primarily through a high bandwidth/fiber-optic cable
network.

Integrated Telecommunication Services

Operators of primarily fixed-line telecommunications networks and companies providing both wireless and fixed-line
telecommunications services not classified elsewhere.

Wireless Telecommunication Services

Providers of primarily cellular or wireless telecommunication services, including paging services.
Electric Utilities
Companies that produce or distribute electricity. Includes both nuclear and non-nuclear facilities.
Gas Utilities

Companies whose main charter is to distribute and transmit natural and manufactured gas. Excludes companies primarily
involved in gas exploration or production classified in the Oil & Gas Exploration & Production Sub-Industry. Also excludes
diversified midstream natural gas companies classified in the Oil & Gas Storage & Transportation Sub-Industry.
Multi-Utilities
Utility companies with significantly diversified activities in addition to core Electric Utility, Gas Utility and/or Water Utility
operations.
Water Utilities
Companies that purchase and redistribute water to the end-consumer. Includes large-scale water treatment systems.

Independent Power Producers & Energy Traders

Companies that operate as Independent Power Producers (IPPs), Gas & Power Marketing & Trading Specialists and/or
Integrated Energy Merchants. Excludes producers of electricity using renewable sources, such as solar power, hydropower,
and wind power. Also excludes electric transmission companies and utility distribution companies classified in the Electric
Utilities Sub-Industry.
Renewable Electricity

Companies that engage in the generation and distribution of electricity using renewable sources, including, but not limited to,
companies that produce electricity using biomass, geothermal energy, solar energy, hydropower, and wind power. Excludes
companies manufacturing capital equipment used to generate electricity using renewable sources, such as manufacturers of
solar power systems, installers of photovoltaic cells, and companies involved in the provision of technology, components, and
services mainly to this market.