Industry Group US TSR Medians for Performance-Related Policy

The list below identifies the median one-year and three-year total shareholder returns1 (TSR) for each respective Global Industry Classification Standard (GICS®)2group as of the end of the most recent calendar quarter. This list is solely for informational purposes.

Company performance relative to industry medians is incorporated into ISS’ evaluation of shareholder proposals seeking an independent chair and for ISS’ evaluation of director performance. However, the TSR sector medians in our reports are updated monthly and align with the subject company’s fiscal year end.

AS OF MAR 31, 2020
GICs Industry Group MedianOneYrGICS MedianThreeYrGICS MedianFiveYrGICS currentDate
1010 Energy -75.38 -40.7 -28.84 31/03/2020
1510 Materials -31.56 -14.25 -5 31/03/2020
2010 Capital Goods -22.59 -5.65 1.04 31/03/2020
2020 Commercial & Professional Services -32.44 -8.59 -3.29 31/03/2020
2030 Transportation -31.07 -8.24 -7.85 31/03/2020
2510 Automobiles & Components -38 -19.24 -9.07 31/03/2020
2520 Consumer Durables & Apparel -36.1 -15.13 -7.39 31/03/2020
2530 Consumer Services -44.74 -12.34 -5.91 31/03/2020
2550 Retailing -48.18 -12.78 -11.76 31/03/2020
3010 Food & Staples Retailing -9.67 -7.01 -8.31 31/03/2020
3020 Food, Beverage & Tobacco -11.94 -2.49 3.78 31/03/2020
3030 Household & Personal Products -27.92 -0.85 6.4 31/03/2020
3510 Health Care Equipment & Services -15.95 4.05 5.19 31/03/2020
3520 Pharmaceuticals, Biotechnology & Life Sciences -27.67 -5.47 -6.5 31/03/2020
4010 Banks -26.67 -10.26 1.98 31/03/2020
4020 Diversified Financials -30.67 -7.93 -4.03 31/03/2020
4030 Insurance -19.07 -4.03 2.31 31/03/2020
4510 Software & Services -16.18 12.48 8.72 31/03/2020
4520 Technology Hardware & Equipment -23.47 -3.57 0.71 31/03/2020
4530 Semiconductors & Semiconductor Equipment 2.91 5.27 9.81 31/03/2020
5010 Telecommunication Services -16.91 -6.33 -3.67 31/03/2020
5020 Media & Entertainment -32.44 -10.31 -8.73 31/03/2020
5510 Utilities -4.09 6.61 8.56 31/03/2020
6010 Real Estate -28.57 -7.15 -2.86 31/03/2020
AS OF JUN 30, 2020
GICs Industry Group MedianOneYrGICS MedianThreeYrGICS MedianFiveYrGICS currentDate
1010 Energy -56.76 -27.56 -22.77 30/06/2020
1510 Materials -14.33 -6.27 -0.32 30/06/2020
2010 Capital Goods -12.3 0.84 5.54 30/06/2020
2020 Commercial & Professional Services -15.82 -1.45 1.29 30/06/2020
2030 Transportation -16 -3.99 -4.85 30/06/2020
2510 Automobiles & Components -21.62 -6.98 -2.66 30/06/2020
2520 Consumer Durables & Apparel -4.98 -1.1 -2.09 30/06/2020
2530 Consumer Services -29.4 -7.3 -0.65 30/06/2020
2550 Retailing -9.86 -0.55 -3.12 30/06/2020
3010 Food & Staples Retailing 15.78 3.82 -1.05 30/06/2020
3020 Food, Beverage & Tobacco -2.15 0.45 4.37 30/06/2020
3030 Household & Personal Products 5.06 4.02 9.23 30/06/2020
3510 Health Care Equipment & Services -6.75 6.54 8.68 30/06/2020
3520 Pharmaceuticals, Biotechnology & Life Sciences 2.38 6.34 -4 30/06/2020
4010 Banks -26.64 -8.42 2.11 30/06/2020
4020 Diversified Financials -16.05 -0.98 0.98 30/06/2020
4030 Insurance -20.19 -4.37 3.1 30/06/2020
4510 Software & Services -0.01 17.6 13.19 30/06/2020
4520 Technology Hardware & Equipment -6.75 0.36 6.81 30/06/2020
4530 Semiconductors & Semiconductor Equipment 27.08 13.12 17.05 30/06/2020
5010 Telecommunication Services -8.94 -7.6 -4.91 30/06/2020
5020 Media & Entertainment -22.85 -6.52 -4.14 30/06/2020
5510 Utilities -10.92 4.32 8.78 30/06/2020
6010 Real Estate -19.29 -4.2 1.75 30/06/2020
AS OF SEP 30, 2020
GICs Industry Group MedianOneYrGICS MedianThreeYrGICS MedianFiveYrGICS currentDate
1010 Energy -55.59 -30.25 -19.98 9/30/20
1510 Materials -4.67 -5.35 5.81 9/30/20
2010 Capital Goods -3.42 0 10.52 9/30/20
2020 Commercial & Professional Services -11.72 -4.05 5.04 9/30/20
2030 Transportation 1.37 -1.21 2.88 9/30/20
2510 Automobiles & Components -6.36 -7.33 0.6 9/30/20
2520 Consumer Durables & Apparel 14.11 3.32 5.02 9/30/20
2530 Consumer Services -16.36 -3.62 6.05 9/30/20
2550 Retailing 4.44 3.67 2.55 9/30/20
3010 Food & Staples Retailing 1.54 4.16 -0.16 9/30/20
3020 Food, Beverage & Tobacco -5.49 -0.86 5.2 9/30/20
3030 Household & Personal Products 8.16 4.44 10.49 9/30/20
3510 Health Care Equipment & Services 9.13 7.61 11.62 9/30/20
3520 Pharmaceuticals, Biotechnology & Life Sciences 20.84 -1.87 -0.02 9/30/20
4010 Banks -32.99 -12.83 1.19 9/30/20
4020 Diversified Financials -11.82 -2.05 4.7 9/30/20
4030 Insurance -25.07 -4.86 3.55 9/30/20
4510 Software & Services 12.52 15.22 16.12 9/30/20
4520 Technology Hardware & Equipment -5.33 -0.73 8.36 9/30/20
4530 Semiconductors & Semiconductor Equipment 23.3 12.19 21.26 9/30/20
5010 Telecommunication Services -9.55 -6.86 -2.25 9/30/20
5020 Media & Entertainment -15.02 -5.97 0.93 9/30/20
5510 Utilities -15.76 2.84 8.92 9/30/20
6010 Real Estate -25.1 -5.06 0.53 9/30/20
AS OF DEC 31, 2020
GICs Industry Group MedianOneYrGICS MedianThreeYrGICS MedianFiveYrGICS currentDate
1010 Energy -39.85 -21.54 -9.27 12/31/20
1510 Materials 8.17 -0.11 10.93 12/31/20
2010 Capital Goods 12.56 6.09 14.06 12/31/20
2020 Commercial & Professional Services -4.27 2.38 7.91 12/31/20
2030 Transportation 11.21 -1.91 8.48 12/31/20
2510 Automobiles & Components 16.37 -0.88 8.15 12/31/20
2520 Consumer Durables & Apparel 20.91 5.72 10.01 12/31/20
2530 Consumer Services 2.83 2.56 10.37 12/31/20
2550 Retailing 25.2 13.78 12.11 12/31/20
3010 Food & Staples Retailing 3.88 7.22 0.78 12/31/20
3020 Food, Beverage & Tobacco 2.56 2.75 6.18 12/31/20
3030 Household & Personal Products 23.74 7.2 9.99 12/31/20
3510 Health Care Equipment & Services 14.09 15.16 15.35 12/31/20
3520 Pharmaceuticals, Biotechnology & Life Sciences 6.63 2.76 2.52 12/31/20
4010 Banks -15.42 -2.82 6.48 12/31/20
4020 Diversified Financials 6.27 4.57 10.18 12/31/20
4030 Insurance -9.25 1 7.28 12/31/20
4510 Software & Services 24.04 21.34 18.29 12/31/20
4520 Technology Hardware & Equipment 12.07 8.23 13.01 12/31/20
4530 Semiconductors & Semiconductor Equipment 43.34 19.19 27.1 12/31/20
5010 Telecommunication Services 8.84 -3.7 4.33 12/31/20
5020 Media & Entertainment -2.29 3.74 3.56 12/31/20
5510 Utilities -7.67 4.43 10.61 12/31/20
6010 Real Estate -11.47 0.71 4.79 12/31/20

1ISS utilizes S&P’s Compustat database for TSR calculated values. The Total Return concepts are annualized rates of return reflecting price appreciation plus reinvestment of dividends (calculated monthly) and the compounding effect of dividends paid on reinvested dividends.

2GICS® is a registered servicemark of MSCI Inc. and Standard & Poors.

Bottom 10% of the U.S. Market
Capital Authorization Policy

A reduced allowable increase in capital authorizations applies for companies in the bottom 10% the U.S. Market. The universe used for the “U.S. market” is the $C set in Standard & Poor’s Research Insight product. To calculate these thresholds, any companies that do not have both one- and three-year TSRs are removed.

Most Recent Fiscal Year End One-Year TSR Three-Year TSR
Feb. 15, 2020 – May 14, 2020 -77.43% -53.58%
May 15, 2020 – Aug. 14, 2020 -66.06% -47.39%
Aug. 15, 2020 – Nov. 14, 2020 -61.49% -46.38%
Nov. 15, 2020 – Feb. 14, 2021 -48.05% -43.81%

For details on the latest policy guidelines, please visit

ISS Policy Gateway

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