Sector AnalysisETF: XLFUpdated Jun 21, 2026

Financial Services Sector Stocks

Financial Services covers banks, insurers, exchanges, asset managers, card networks, and other credit-and-capital businesses. It is highly macro-sensitive — loan growth, funding costs, credit quality, and regulation all shape earnings. XLF is the large-cap benchmark, but the sector spans very different models from traditional lenders to high-margin payment platforms.

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TickerCompanyPriceMkt CapP/EROEDiv Yield
Berkshire Hathaway Inc.$489.46$1.06T15.89.8%
JPMorgan Chase & Co.$325.22$908.57B16.216.1%1.8%
Visa Inc.$327.24$627.79B32.152.1%0.7%
Mastercard Incorporated$489.79$433.57B29.6209.9%0.6%
Bank of America Corporation$56.20$424.14B14.710.2%2.3%
Berkshire Hathaway Inc.$733609.75$370.98B9999.09.8%
Morgan Stanley$223.17$355.51B21.915.5%1.9%
The Goldman Sachs Group, Inc.$1096.56$348.27B21.413.9%1.5%
HSBC Holdings plc$94.97$326.39B15.711.8%3.5%
Royal Bank of Canada$201.56$281.5B20.215.3%2.2%
Citigroup Inc.$143.09$266.52B20.56.7%2%
Wells Fargo & Company$82.21$264.5B13.011.7%2.1%
Mitsubishi UFJ Financial Group, Inc.$21.08$237.94B15.111.3%2.3%
American Express Company$338.16$231.9B22.034%1%
The Toronto-Dominion Bank$119.29$201.54B14.616.9%2.6%
Banco Santander, S.A.$13.50$198.16B13.512.8%
BlackRock, Inc.$1050.09$173.68B29.610%1.9%
The Charles Schwab Corporation$91.70$160.66B19.718.1%1.4%
UBS Group AG$50.80$157.65B27.27%1.4%
Banco Bilbao Vizcaya Argentaria, S.A.$24.48$137.49B12.617.3%3.2%
Galaxy Digital$34.20$133.11B-64.5-11.9%0%
HDFC Bank Limited$25.06$128.54B17.18.2%1.3%
Chubb Limited$323.40$126.2B12.613.9%1.2%
Mizuho Financial Group, Inc.$10.30$125.58B15.512%1.9%
Capital One Financial Corporation$201.53$124.76B50.02.8%1.6%
S&P Global Inc.$410.92$121.63B28.012.1%0.9%
The Progressive Corporation$204.87$120.07B14.237%0.6%
Bank of Montreal$170.82$119.65B21.110.1%2.9%
The Bank of Nova Scotia$87.03$106.71B21.69%3.5%
Canadian Imperial Bank of Commerce$111.69$103.49B18.413.7%2.7%
BRK-B logoBRK-B
Berkshire Hathaway Inc.
$489.46Price
Mkt Cap$1.06T
P/E15.8
ROE9.8%
Div Yield
JPM logoJPM
JPMorgan Chase & Co.
$325.22Price
Mkt Cap$908.57B
P/E16.2
ROE16.1%
Div Yield1.8%
V logoV
Visa Inc.
$327.24Price
Mkt Cap$627.79B
P/E32.1
ROE52.1%
Div Yield0.7%
MA logoMA
Mastercard Incorporated
$489.79Price
Mkt Cap$433.57B
P/E29.6
ROE209.9%
Div Yield0.6%
BAC logoBAC
Bank of America Corporation
$56.20Price
Mkt Cap$424.14B
P/E14.7
ROE10.2%
Div Yield2.3%
BRK-A logoBRK-A
Berkshire Hathaway Inc.
$733609.75Price
Mkt Cap$370.98B
P/E9999.0
ROE9.8%
Div Yield
MS logoMS
Morgan Stanley
$223.17Price
Mkt Cap$355.51B
P/E21.9
ROE15.5%
Div Yield1.9%
GS logoGS
The Goldman Sachs Group, Inc.
$1096.56Price
Mkt Cap$348.27B
P/E21.4
ROE13.9%
Div Yield1.5%
HSBC logoHSBC
HSBC Holdings plc
$94.97Price
Mkt Cap$326.39B
P/E15.7
ROE11.8%
Div Yield3.5%
RY logoRY
Royal Bank of Canada
$201.56Price
Mkt Cap$281.5B
P/E20.2
ROE15.3%
Div Yield2.2%
C logoC
Citigroup Inc.
$143.09Price
Mkt Cap$266.52B
P/E20.5
ROE6.7%
Div Yield2%
WFC logoWFC
Wells Fargo & Company
$82.21Price
Mkt Cap$264.5B
P/E13.0
ROE11.7%
Div Yield2.1%
MUFG logoMUFG
Mitsubishi UFJ Financial Group, Inc.
$21.08Price
Mkt Cap$237.94B
P/E15.1
ROE11.3%
Div Yield2.3%
AXP logoAXP
American Express Company
$338.16Price
Mkt Cap$231.9B
P/E22.0
ROE34%
Div Yield1%
TD logoTD
The Toronto-Dominion Bank
$119.29Price
Mkt Cap$201.54B
P/E14.6
ROE16.9%
Div Yield2.6%
SAN logoSAN
Banco Santander, S.A.
$13.50Price
Mkt Cap$198.16B
P/E13.5
ROE12.8%
Div Yield
BLK logoBLK
BlackRock, Inc.
$1050.09Price
Mkt Cap$173.68B
P/E29.6
ROE10%
Div Yield1.9%
SCHW logoSCHW
The Charles Schwab Corporation
$91.70Price
Mkt Cap$160.66B
P/E19.7
ROE18.1%
Div Yield1.4%
UBS logoUBS
UBS Group AG
$50.80Price
Mkt Cap$157.65B
P/E27.2
ROE7%
Div Yield1.4%
BBVA logoBBVA
Banco Bilbao Vizcaya Argentaria, S.A.
$24.48Price
Mkt Cap$137.49B
P/E12.6
ROE17.3%
Div Yield3.2%
GLXY logoGLXY
Galaxy Digital
$34.20Price
Mkt Cap$133.11B
P/E-64.5
ROE-11.9%
Div Yield0%
HDB logoHDB
HDFC Bank Limited
$25.06Price
Mkt Cap$128.54B
P/E17.1
ROE8.2%
Div Yield1.3%
CB logoCB
Chubb Limited
$323.40Price
Mkt Cap$126.2B
P/E12.6
ROE13.9%
Div Yield1.2%
MFG logoMFG
Mizuho Financial Group, Inc.
$10.30Price
Mkt Cap$125.58B
P/E15.5
ROE12%
Div Yield1.9%
COF logoCOF
Capital One Financial Corporation
$201.53Price
Mkt Cap$124.76B
P/E50.0
ROE2.8%
Div Yield1.6%
SPGI logoSPGI
S&P Global Inc.
$410.92Price
Mkt Cap$121.63B
P/E28.0
ROE12.1%
Div Yield0.9%
PGR logoPGR
The Progressive Corporation
$204.87Price
Mkt Cap$120.07B
P/E14.2
ROE37%
Div Yield0.6%
BMO logoBMO
Bank of Montreal
$170.82Price
Mkt Cap$119.65B
P/E21.1
ROE10.1%
Div Yield2.9%
BNS logoBNS
The Bank of Nova Scotia
$87.03Price
Mkt Cap$106.71B
P/E21.6
ROE9%
Div Yield3.5%
CM logoCM
Canadian Imperial Bank of Commerce
$111.69Price
Mkt Cap$103.49B
P/E18.4
ROE13.7%
Div Yield2.7%
See all 50 stocks →

Market Comparison

Financial Services Sector vs S&P 500 in one glance

This should answer the only question that matters here: are you getting something better than the market for the price you are paying?

Price vs market

Cheaper

47% below S&P 500 trailing P/E

Quality vs market

Lower quality

Net margin 22.4% vs 25.7%; ROE 28.8% vs 47.7%

Income vs market

Higher yield

Sector yield 1.50% vs 1.00%

Comparison table

Winner should register in under three seconds.

MetricFinancial Services SectorS&P 500DeltaWinner

Trailing P/E

Sector is cheaper

18.3x34.5x-47%Sector cheaper

Forward P/E

Sector is cheaper

16.2x24.2x-33%Sector cheaper

EV/EBITDA

Sector is cheaper

16.1x23.1x-30%Sector cheaper

Net Margin

Market is stronger

22.4%25.7%-13%S&P 500 stronger

ROE

Market is stronger

28.8%47.7%-40%S&P 500 stronger

Dividend Yield

Sector is stronger

1.5%1.0%+50%Sector yields more

History check

Is the current premium normal?

1-year contextRich vs history

80th percentile; range 15.1x to 19.1x

5-year contextCheap vs history

9th percentile; range 8.6x to 116.1x

Internal health

Median revenue growth8.5%
Median gross margin54.6%
Median FCF margin19.0%

Against the S&P 500, Financial Services Sector currently trades at 18.3x trailing earnings versus 34.5x for the broad market. That premium only makes sense if investors keep believing the sector deserves better margins, stronger returns on equity, and more durable growth than the index overall.

Industry Breakdown

Where the real weight sits inside Financial Services Sector

These cards are built from the full sector universe, then ranked by market cap so you can see which pockets are leading, rich, resilient, or dangerously concentrated.

Industry Scoreboard

Fast scan of Financial Services Sector industry setups

Use this table to spot heavyweights, cheap pockets, leaders, and genuinely beaten-down areas before opening the detailed cards below.

Diversified Banks

21 stocks

29.0%

$4.13T

Leading

+21.9% median 3M

Fair

12.1x median Fwd P/E

Weak

12.4% median ROE

Average

- rev growth

Mixed

Diversified

Regional Banks

338 stocks

13.4%

$1.91T

Leading

+14.0% median 3M

Fair

11.0x median Fwd P/E

Mixed

9.7% median ROE

Average

- rev growth

Mixed

Diversified

Credit Services

67 stocks

12.1%

$1.72T

Neutral

+2.8% median 3M

Cheap

8.4x median Fwd P/E

Mixed

10.3% median ROE

Strong

- rev growth

Attractive

Concentrated

Diversified Insurance

20 stocks

11.7%

$1.66T

Lagging

+0.3% median 3M

Cheap

9.2x median Fwd P/E

Weak

10.3% median ROE

Weak

1.3% rev growth

Broken

One-name heavy

Capital Markets

75 stocks

10.6%

$1.51T

Neutral

+4.4% median 3M

Premium

16.9x median Fwd P/E

Weak

8.7% median ROE

Strong

- rev growth

Mixed

Diversified

Asset Management

163 stocks

8.1%

$1.15T

Lagging

+0.6% median 3M

Cheap

9.3x median Fwd P/E

High

6.2% median ROE

Weak

- rev growth

Broken

Diversified

Property & Casualty Insurance

48 stocks

4.1%

$577.79B

Neutral

+1.1% median 3M

Cheap

10.9x median Fwd P/E

Mixed

16.9% median ROE

Strong

7.2% rev growth

Attractive

Diversified

Financial Data & Exchanges

11 stocks

3.8%

$539.29B

Lagging

-5.0% median 3M

Premium

20.1x median Fwd P/E

High

18.5% median ROE

Average

- rev growth

Mixed

Diversified

Life Insurance

23 stocks

2.4%

$347.79B

Neutral

+8.5% median 3M

Cheap

8.6x median Fwd P/E

Mixed

10.2% median ROE

Strong

4.1% rev growth

Attractive

Diversified

Insurance Brokers

18 stocks

1.9%

$272.1B

Lagging

+1.1% median 3M

Premium

16.7x median Fwd P/E

Weak

10.1% median ROE

Average

10.5% rev growth

Broken

Concentrated

Investment Banking

16 stocks

0.6%

$88.28B

Neutral

+1.0% median 3M

Cheap

10.3x median Fwd P/E

Mixed

5.2% median ROE

Strong

- rev growth

Attractive

One-name heavy

Global Asset Management

3 stocks

0.6%

$79.61B

Lagging

-1.9% median 3M

Premium

12.9x median Fwd P/E

Mixed

5.5% median ROE

Weak

- rev growth

Broken

One-name heavy

Specialty Insurance

19 stocks

0.5%

$70.15B

Neutral

+1.0% median 3M

Cheap

10.4x median Fwd P/E

Mixed

12.0% median ROE

Average

7.8% rev growth

Mixed

Diversified

Mortgage Finance

15 stocks

0.4%

$51.6B

Lagging

-2.4% median 3M

Cheap

7.1x median Fwd P/E

Mixed

4.1% median ROE

Strong

- rev growth

Beaten Down

One-name heavy

Reinsurance

9 stocks

0.3%

$48.36B

Neutral

+4.9% median 3M

Cheap

7.3x median Fwd P/E

Mixed

13.3% median ROE

Strong

12.6% rev growth

Attractive

One-name heavy

SPACs & Shell Companies

125 stocks

0.3%

$46.3B

Neutral

+1.1% median 3M

Premium

3.7x median Fwd P/E

Weak

3.1% median ROE

Weak

- rev growth

Mixed

One-name heavy

Financial Conglomerates

21 stocks

0.2%

$25.15B

Neutral

+1.3% median 3M

Premium

8.9x median Fwd P/E

Weak

2.8% median ROE

Strong

- rev growth

Mixed

One-name heavy

Diversified Financial

1 stocks

0.0%

$4.99B

Neutral

+8.7% median 3M

Premium

13.1x median Fwd P/E

Mixed

2.1% median ROE

Weak

- rev growth

Mixed

One-name heavy

Income Asset Management

6 stocks

0.0%

$1.67B

Neutral

+0.3% median 3M

Premium

7.5x median Fwd P/E

Mixed

2.4% median ROE

Strong

- rev growth

Mixed

One-name heavy

IT Services

1 stocks

0.0%

$1.14B

Leading

+100.9% median 3M

Premium

- median Fwd P/E

Weak

-26.1% median ROE

Weak

- rev growth

Mixed

One-name heavy

Other

4 stocks

0.0%

$908M

Neutral

+13.8% median 3M

Premium

40.3x median Fwd P/E

Weak

4.8% median ROE

Weak

- rev growth

Mixed

One-name heavy

Crypto Asset Management

5 stocks

0.0%

$707M

Lagging

-21.7% median 3M

Cheap

6.4x median Fwd P/E

Weak

-13.2% median ROE

Strong

- rev growth

Broken

One-name heavy

Internet Services

1 stocks

0.0%

$18M

Lagging

-36.9% median 3M

Fair

- median Fwd P/E

Weak

- median ROE

Strong

- rev growth

Broken

One-name heavy

Showing 23 of 23 industries in Financial Services Sector.

Setup is a quick read of value, quality, growth, momentum, and concentration together.

29.0% OF SECTOR

Diversified Banks

Fairly pricedWeak qualityLeadingAverage growthDiversified

Diversified Banks is a core pocket of financial services, still leading on price action; growth is near the sector average, quality metrics trail the sector median, and valuation is close to sector norms.

Median 3M return

+21.9%

Forward P/E

12.1x

Top 3 weight

40.2%

Market cap

$4.13T

Coverage

21 stocks

Breadth

95% pos. in 3M

Open filtered screener
13.4% OF SECTOR

Regional Banks

Fairly pricedMixed qualityLeadingAverage growthDiversified

Regional Banks is a major pocket of financial services, still leading on price action; growth is near the sector average, quality signals are mixed, and valuation is close to sector norms.

Median 3M return

+14.0%

Forward P/E

11.0x

Top 3 weight

18.6%

Market cap

$1.91T

Coverage

338 stocks

Breadth

92% pos. in 3M

Open filtered screener
12.1% OF SECTOR

Credit Services

Cheap vs sectorMixed qualityNeutralStrong growthConcentrated

Credit Services is a major pocket of financial services, moving broadly in line with the rest of the sector; growth is running above sector norms, quality signals are mixed, and valuation sits below sector norms. Leadership is concentrated in a few names.

Median 3M return

+2.8%

Forward P/E

8.4x

Top 3 weight

75.4%

Market cap

$1.72T

Coverage

67 stocks

Breadth

61% pos. in 3M

Open filtered screener
11.7% OF SECTOR

Diversified Insurance

Cheap vs sectorWeak qualityLaggingWeak growthOne-name heavy

Diversified Insurance is a major pocket of financial services, currently lagging on price action; growth is softer than the sector average, quality metrics trail the sector median, and valuation sits below sector norms. Leadership is extremely concentrated in one or two names.

Median 3M return

+0.3%

Forward P/E

9.2x

Top 3 weight

88.4%

Market cap

$1.66T

Coverage

20 stocks

Breadth

50% pos. in 3M

Open filtered screener
10.6% OF SECTOR

Capital Markets

Premium vs sectorWeak qualityNeutralStrong growthDiversified

Capital Markets is a major pocket of financial services, moving broadly in line with the rest of the sector; growth is running above sector norms, quality metrics trail the sector median, and valuation still carries a premium.

Median 3M return

+4.4%

Forward P/E

16.9x

Top 3 weight

57.1%

Market cap

$1.51T

Coverage

75 stocks

Breadth

57% pos. in 3M

Open filtered screener
8.1% OF SECTOR

Asset Management

Cheap vs sectorHigh qualityLaggingWeak growthDiversified

Asset Management is a meaningful pocket of financial services, currently lagging on price action; growth is softer than the sector average, business quality is stronger than the sector median, and valuation sits below sector norms.

Median 3M return

+0.6%

Forward P/E

9.3x

Top 3 weight

32.5%

Market cap

$1.15T

Coverage

163 stocks

Breadth

55% pos. in 3M

Open filtered screener
4.1% OF SECTOR

Property & Casualty Insurance

Cheap vs sectorMixed qualityNeutralStrong growthDiversified

Property & Casualty Insurance is a smaller pocket of financial services, moving broadly in line with the rest of the sector; growth is running above sector norms, quality signals are mixed, and valuation sits below sector norms.

Median 3M return

+1.1%

Forward P/E

10.9x

Top 3 weight

54.1%

Market cap

$577.79B

Coverage

48 stocks

Breadth

53% pos. in 3M

Open filtered screener
3.8% OF SECTOR

Financial Data & Exchanges

Premium vs sectorHigh qualityLaggingAverage growthDiversified

Financial Data & Exchanges is a smaller pocket of financial services, currently lagging on price action; growth is near the sector average, business quality is stronger than the sector median, and valuation still carries a premium.

Median 3M return

-5.0%

Forward P/E

20.1x

Top 3 weight

53.9%

Market cap

$539.29B

Coverage

11 stocks

Breadth

27% pos. in 3M

Open filtered screener
2.4% OF SECTOR

Life Insurance

Cheap vs sectorMixed qualityNeutralStrong growthDiversified

Life Insurance is a smaller pocket of financial services, moving broadly in line with the rest of the sector; growth is running above sector norms, quality signals are mixed, and valuation sits below sector norms.

Median 3M return

+8.5%

Forward P/E

8.6x

Top 3 weight

52.7%

Market cap

$347.79B

Coverage

23 stocks

Breadth

68% pos. in 3M

Open filtered screener
1.9% OF SECTOR

Insurance Brokers

Premium vs sectorWeak qualityLaggingAverage growthConcentrated

Insurance Brokers is a smaller pocket of financial services, currently lagging on price action; growth is near the sector average, quality metrics trail the sector median, and valuation still carries a premium. Leadership is concentrated in a few names.

Median 3M return

+1.1%

Forward P/E

16.7x

Top 3 weight

76.6%

Market cap

$272.1B

Coverage

18 stocks

Breadth

50% pos. in 3M

Open filtered screener
0.6% OF SECTOR

Investment Banking

Cheap vs sectorMixed qualityNeutralStrong growthOne-name heavy

Investment Banking is a smaller pocket of financial services, moving broadly in line with the rest of the sector; growth is running above sector norms, quality signals are mixed, and valuation sits below sector norms. Leadership is extremely concentrated in one or two names.

Median 3M return

+1.0%

Forward P/E

10.3x

Top 3 weight

91.3%

Market cap

$88.28B

Coverage

16 stocks

Breadth

79% pos. in 3M

Open filtered screener
0.6% OF SECTOR

Global Asset Management

Premium vs sectorMixed qualityLaggingWeak growthOne-name heavy

Global Asset Management is a smaller pocket of financial services, currently lagging on price action; growth is softer than the sector average, quality signals are mixed, and valuation still carries a premium. Leadership is extremely concentrated in one or two names.

Median 3M return

-1.9%

Forward P/E

12.9x

Top 3 weight

100.0%

Market cap

$79.61B

Coverage

3 stocks

Breadth

33% pos. in 3M

Open filtered screener

Showing top 12 of 23 industries

Sector Outlook

Financial Services Sector Outlook - Q1 2026

Updated Q1 2026

Financials in 2026 hinge on rates, deposit competition, consumer credit, and capital markets health. Stable credit and improved deal flow lift sentiment; funding pressure and reserve builds cap upside for lenders.

Exchanges, data providers, and payment platforms may keep attracting premium valuations — their earnings are less balance-sheet dependent than banks.

Stock selection matters more than broad exposure. The gap between strong franchises and optically cheap value traps widens when macro shifts.

Earnings Calendar

Upcoming Earnings in Financial Services Sector

Earnings reports are the biggest near-term catalysts for sector moves. Track which names report in the next 60 days and size your positions accordingly.

No earnings in the next 60 days

Check individual stock pages for the latest earnings dates and estimated EPS.

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