As the S&P 500 sets new record highs this month – led by tech reaching new highs, while energy revisits 2016 lows – we decided to reexamine the S&P 500's sector composition now vs. history. This note presents the percentage share of S&P 500 market capitalization and net income by sector back to 1967. We point out that while the S&P 500 still represents a well-diversified equity index with broad industry and sector exposure, more of its earnings come from technology related businesses and less from energy related than ever before.
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