The Financial sector has been an overweight for some time in client accounts, and it's hurt performance for the last two years, or since Jan 1, '18.
Clients' biggest financial weighting has been Schwab (SCHW) given its asset-gathering prowess (and it is our only 3rd party client custodian) and then JPMorgan (JPM), Chicago Mercantile Exchange (CME), the [[XLF]] (big bank ETF) and unfortunately the [[KRE]] (regional bank ETF).
Bill Nygren, the famed OakMark Fund Value manager had this to say to Christine Benz in a Morningstar podcast on where Bill and the OakMark Select Fund