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Tesla's Inclusion in the S&P 500 Leaves Less Room for Some Sectors


Make Room for Tesla–and Less Room for Energy, Financials, and Materials
Published: Dec. 24, 2020 at 6:15 p.m. ET
By
Make Room for Tesla
Dec. 23: On Monday, Dec. 21,
Tesla
(ticker: TSLA) replaced
Apartment Investment & Management
(AIV) in the S&P 500. Tesla was added to the S&P 500 Automobile sub-industry index within the S&P 500 Consumer Discretionary sector. Since Tesla is now the fifth-largest company within the
S&P 500
by market value, sector weightings will change—one quite dramatically. In particular, the Consumer Discretionary sector grew by 13.6% from its Dec. 18 representation within the S&P 500 of 11.2% to the 12.8% exposure as of Tesla’s date of entry on Dec. 21. In order to make room for Tesla, all other sectors initially shrank from as little as 1.2% for energy, to as much as 1.9% for financials and materials.

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