As of 2026-08-31, the tracked universe spans eight sectors. How you rank them depends entirely on whether you count companies or capital — and the two disagree sharply.
Where the companies are
By sheer headcount, Technology dominates with 593 names — roughly a quarter of the tracked set — anchored by familiar megacaps like AAPL, MSFT, and NVDA alongside chip challengers AMD and INTC. Industrials follows with 417 companies, a notably diverse bench that ranges from Honeywell (HON) to speculative eVTOL play Archer Aviation (ACHR) and Asian listings like Xiamen Solex. Healthcare (362) rounds out the top three, spanning insurance giant UNH, pharma stalwarts JNJ and ABBV, and smaller names such as GoodRx.
The tail is thinner but strategically important: Basic Materials (295), Consumer Cyclical (159), Financials (128), Energy (127), and Communication Services (86). That last group is small in count yet holds some of the most-watched names anywhere — GOOGL, META, NFLX, and Tencent.
Where the capital is
Rank by total market cap and the picture inverts. Financials top the list, followed by Energy and Basic Materials — with Technology only fourth. Consumer Cyclical, despite housing Amazon and Tesla, reports the smallest aggregate cap.
That inversion should raise an eyebrow rather than a conclusion. A universe where Basic Materials and Financials out-weigh Technology by aggregate cap runs against the grain of how public equity value is normally distributed. The most likely explanation is visible in the data itself: duplicate cross-listings. Tesla appears as TL0.F and TL0.DE; Alphabet as GOOGL and GOOG; Novo Resources as NVO.TO and NVO.AX; Galantas as GAL.V and GAL.L; Obsidian as OBE and OBE.TO. When the same underlying company is counted through several exchange tickers, both company counts and cap totals inflate unevenly.
What an investor might watch
- Concentration risk in Tech. With 593 names, Technology offers breadth, but its megacap anchors (Apple, Microsoft, NVIDIA) mean exposure here is easy to over-weight without noticing.
- The Industrials wildcards. A sector this broad mixes cash-generative incumbents with pre-revenue stories like Archer. Screen by fundamentals before treating it as one bloc.
- Small-count, high-signal sectors. Communication Services and Financials carry few tickers but outsized index influence. Do not mistake a short list for low importance.
- Data hygiene first. Before drawing allocation conclusions from the cap-weighted view, de-duplicate cross-listings. The company-count lens is the more trustworthy read of breadth right now.
The headline takeaway is unglamorous but useful: this universe is broad and Tech-tilted by name, but its capital-weighted ranking needs cleaning before it can be trusted. Breadth is real; the cap totals deserve scrutiny.