Morningstar sectors are designed to help investors and investment professionals more easily compare and understand the sector exposures of investment options and portfolios. Morningstar divides the economy into three "Super Sectors"-- Cyclical, Sensitive and Defensive -- each of which contains three or four sub-sectors. For investment options that have more significant fixed income exposure (for example, Balanced/Asset Allocation investment options), keep in mind that the percentages displayed are only reflective of the equity or stock portion of the investment option.