This article series provides a monthly dashboard of industries in each sector of the GICS classification. It compares valuation and quality factors relative to their historical averages in each industry.
Executive summary
Power producers/energy traders are the only attractive industries in utilities. They are moderately underpriced relative to their historical averages in valuation ratios, and above the historical baseline in profitability (measured by return on equity). Other industries are close to their profitability baseline, but significantly overpriced relative to their historical averages in the valuation ratios reported below. The Utilities Select Sector SPDR ETF (