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May 20, 2022

A Reliable Strategy in Unreliable Times

Try as one might, it is hard not to notice the woes of equities this year. Through May 19, 2022, the S&P 500® has declined 18%, losing 9% in the last three months alone. This pain was felt across most sectors of the index, with only Consumer Staples, Energy, and Utilities in positive territory for…

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May 19, 2022

Hedging Inflation with the S&P/BMV IPC

Inflation in Mexico has reached levels not seen in over 20 years, as the S&P/BMV IPC has receded from its all-time high reached earlier this year (see Exhibit 1). In this environment, market participants may question how inflation may affect index performance and the effectiveness of equity allocations as a hedge against it. First, let’s…

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May 18, 2022

Emerging Market-Listed Companies Enter the S&P Global Clean Energy Index

In October 2021, the S&P Global Clean Energy Index implemented most of the items addressed in the August 2021 consultation, which improved transparency, reduced the index’s carbon footprint and better aligned the index methodology with market trends.1 The latest rebalance (effective April 25, 2022), was a continuation of that consultation, with a focus on diversification…

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May 17, 2022

The (Re)Balancing Act of the S&P 500 ESG Index

It is that time of year yet again: the seasons are changing, spring is in the air and the S&P 500® ESG Index has undergone its fourth annual rebalance. Just as it has in years past, the changes of the 2022 rebalance reflect the delicate balancing act of providing for broad-based market exposure but with…

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May 17, 2022

Perspectives on the Current Crypto Slump

I’ll avoid the usual platitudes about the market downturn. Instead, I’d like to focus on how we can better understand the current cryptocurrency market movement by looking at the S&P Cryptocurrency Indices. First, to set the context for the current drawdown, we’ll take a look at the biggest declines in Bitcoin. Then, we’ll take a…

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May 16, 2022

A Practical Look at Index Liquidity in Asia

What role does index liquidity play in helping market-participants in Asia participate in the U.S. equity ecosystem during Asia’s trading hours? Join S&P DJI and State Street Global Advisors for a practical look at using indices to assess the potential opportunity set. Learn more: Regional Relevancy of S&P 500 and Dow Jones Industrial Average Futures…

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May 12, 2022

S&P 500 Weekly Options Now Expire Five Days a Week

Since their debut in 1983, S&P 500 options have grown into the most liquid index options in the market today.1 In 2005, Cboe introduced PM-settled S&P 500 weekly options (SPXW) to meet market demand for additional trading frequency. The first weekly options expired only on Fridays, with Monday and Wednesday expirations added over time. On…

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May 10, 2022

Transparency, Independence and Integrity as the Bedrocks of Indexing

I am deeply honored to assume the chairmanship of the Index Industry Association (IIA) this year. Since 2012, the IIA has been a tireless advocate for independent index providers globally. As the IIA celebrates its 10th anniversary this year, now more than ever, our role in educating people about how indexing has transformed and democratized…

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May 9, 2022

Value Resurgent, Part 2

The years between 2017 and 2021 were a frustrating half-decade for value investors. The S&P 500 Growth Index advanced at a compound annual rate of 24.1%, more than double the 11.9% return of its Value counterpart. Despite occasional (and sometimes prematurely celebrated) periods of success, Value underperformed Growth in four years of the five (and…

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May 9, 2022

Parsing Persistence

Similar to active managers, who attempt to identify stocks with above-average performance, investors who use active funds aim to identify managers who will outperform their peers. Our SPIVA® Scorecards consistently show that most active managers underperform most of the time. But not all funds, and not all the time. How might such outperforming funds be…

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