Real estate professional here, investing in listed and non-listed. Few ETFs will have to adapt to this change, but those that will have had a long time to figur

Real estate professional here, investing in listed and non-listed. Few ETFs will have to adapt to this change, but those that will have had a long time to figure out the most tax efficient way of doing so. While they are passive managers, they still have incentives to help their investors with structure. The new GICS sector could bring some new attention to the sector. This probably will affect small cap more than large cap as the generalists take a broader look at the sector. Many have invested in the large caps for a while just to have some exposure. There have been rumors that general stock managers have underweighted the sector overall as it was a part of their 'financial' bucket, but unlike the traditional financial stocks. However, I wouldn't expect money rushing in or out. If there is any price drop over the next couple weeks I would expect it is due to expectations around the Fed rather than ETFs selling.