New S&P 500 Group Now Most Popular With Funds as Tech De-FANGed
- Communications ETF has trailed the market since creation
- Darling stocks, now spread out in sectors, may gain traction
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There’s a new kid in the U.S. stock market, and it’s already winning a popularity contest.
The freshly minted communication services group will have a bigger representation in active funds than any of the other S&P 500 Index sectors when it debuts Monday, according to Bank of America. The industry, created amid the biggest reshuffling of the Global Industry Classification Standard since 1999, replaces consumer discretionary atop the ranking.