S&P 500 is now nearly a tech index – IT sector nears 40% share

Since 1990, the IT sector's share of the S&P 500 index has surged from roughly 7% to nearly 40%. When tech-driven companies formally classified in other sectors – such as Tesla, Amazon, Meta and Google – are included, the real technology exposure is even higher. As a result, an S&P 500 ETF increasingly behaves like the tech-heavy Nasdaq, posing a growing concentration risk for investors.