Financial Services vs the S&P 500 (IYG): is it outperforming?
Over the past month, IYG has outperformed the S&P 500 by 3.1 points. Here is where that puts it in the sector rotation — updated daily.
Where IYG sits on the rotation map
Financial Services highlighted against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window — the methodology explains the math.
IYG vs SPY: head-to-head returns
IYG (financial services) and SPY (the S&P 500) side by side over every window Zensei tracks. The spread is the difference — positive means IYG won that window.
Data as of 2026-07-13 · computed from daily adjusted closes · how we measure
The read
Financial Services (IYG) has just turned the corner. Over the longer, time-shifted window it trailed the S&P 500 by 4.4 points, but over the past month it has moved clearly ahead of the market — a 3.1-point edge that puts it in the improving quadrant. Ranked by one-month spread, it currently stands #16 of the 115 groups Zensei tracks.
On the shorter tape, IYG is in a dip window: the last sessions have pulled back while the longer intraday trend remains intact — the pattern rotation traders watch for re-entries. IYG's relative-strength line — its price ratio against the S&P 500 — is trading above its moving averages, the healthiest configuration we track. The two signals agree — the short-term tape and the longer trend point the same way.
The exposure comes via iShares U.S. Financial Services ETF, whose 99 tracked holdings are led by BERKSHIRE HATHAWAY INC CLASS B, JPMORGAN CHASE & CO and VISA INC CLASS A. Weighted by portfolio, the fund's holdings trade at roughly 21.8× earnings and 6.3× sales. The thing to watch from here is confirmation: improving groups that hold a positive one-month spread long enough for the longer window to turn are the classic early-rotation entries — the ones that fail fall back quickly.
What's inside IYG
Top 5 of 99 tracked holdings, by portfolio weight.
Financial Services vs the market — common questions
Is financial services outperforming the S&P 500?
Right now, yes: over the past month IYG has outperformed the S&P 500 by 3.1 points. This page updates daily, so the answer reflects current market data rather than a dated article.
What is IYG?
IYG is iShares U.S. Financial Services ETF, the fund Zensei uses to measure the financial services group against the S&P 500 benchmark (SPY).
Which stocks are in IYG?
IYG's largest tracked positions are BERKSHIRE HATHAWAY INC CLASS B, JPMORGAN CHASE & CO, VISA INC CLASS A, MASTERCARD INC CLASS A, BANK OF AMERICA CORP — 99 holdings in total. The full list, with each stock measured against the group, is part of Zensei Premium.
What quadrant is financial services in right now?
As of the latest daily data, financial services is in the improving quadrant — behind the market over the longer window, but ahead over the past month. The quadrant rules are documented on the Zensei methodology page.
Related sectors
Track financial services against the whole market
Zensei Edge maps 100+ sectors and themes against the S&P 500 — with the stocks inside each one, rotation history and alerts when leadership changes hands.