BlackRock Aims to Disrupt ETFs by Rethinking Sector Classifications

BlackRock aims to disrupt the sector ETF space by introducing a new classification system. Currently, State Street and Vanguard dominate the market, with BlackRock lagging behind. The existing classification systems, GICS and ICB, often misalign, leading to inconsistencies in sector categorization. BlackRock's new system seeks to address these issues by offering a more forward-looking approach, allowing companies like Amazon to be classified in multiple sectors. This innovation could potentially help BlackRock gain traction in the market.

What is the significance of the methodologies 'geeks' and 'ICB' in sector classification?

What potential advantages do BlackRock's new sector ETFs have over traditional ones?