The United States stock market is the largest in the world. So it is really interesting to take a closer look at this market and evaluate how it has changed.
In particular, we focus on changes in the sectors of the broad American index S&P500 over a long period. So here's a chart showing how the composition of the S&P500 has changed over the years.
The main changes are the long-term increase in the share of technology (currently half of the index) at the expense of traditional industrial enterprises (in 1980 – two-thirds of the index). This chart essentially answers the question of where the impressive long-term growth of this index comes from.
Also very interesting is the analysis of the structure of the American stock market over time, divided into separate groups of investors. In recent decades, mutual funds with "active" investment strategies and pension funds have lost much of their importance.
On the other side are passive mutual funds and ETFs, which did not exist at all 20 years ago, and foreign investors, with 17 percent, second only to households, which dominate with almost 40 percent.
