Here's how each sector performs in SPX
I've just calculated the average 10 year return on capital and 10 year share price growth for every company in the $S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$ .
Here's how each sector performs. Interesting to see some correlation between ROC and price growth.
Not all sectors produce winners.
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I completely agree:
Scalability (tech) and network effects (consumer) tend to produce greater operating leverage and higher returns on capital.
The price is often near-term volatility, but the long-term payoff can be stellar.
https://twitter.com/long_equity/status/1777699037753327651
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