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John Welling

Director, Equity Indices, S&P Dow Jones Indices

John Welling is Director, Equity Indices at S&P Dow Jones Indices (S&P DJI). He is responsible for the product management of S&P DJI’s global index suites, including the S&P Global BMI, S&P Global 1200, and S&P Islamic Indices. In his role, John leads efforts to develop new benchmarks, promotes existing offerings, and regularly publishes market commentary, analytical reports, and research.
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Jul 15, 2020

Global Islamic Indices Outperformed Benchmark by Nearly 10% in H1 2020: Examining the Key Drivers

Global equities rallied during Q2 2020, gaining 20% as measured by the S&P Global BMI. Shariah-compliant benchmarks, meanwhile, including the S&P Global BMI Shariah and Dow Jones Islamic Market (DJIM) World Index, significantly outperformed—entering positive territory YTD—well ahead of the 6.8% decline of the S&P Global BMI (see Exhibit 1). The outperformance trend played out…

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Apr 16, 2020

S&P and Dow Jones Islamic Indices Continue Outperformance in Q1 2020

Amid Losses, Shariah-Compliant Benchmarks Beat Conventional Counterparts by Substantial Margins Global equities fell 22.3% during Q1 2020, as measured by the S&P Global BMI, with COVID-19 taking center stage and cases growing worldwide. The S&P Global BMI Shariah—which fell 17.2%—markedly outperformed its conventional benchmark by more than 500 bps, marking its greatest quarterly outperformance since…

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Apr 3, 2020

China: An Unlikely Stabilizer in Emerging Markets

As investors grapple with the economic fallout of COVID-19 and seek to understand its impact, China has become an unexpected stabilizing force in emerging markets. Despite being the epicenter of the outbreak, Chinese equities have experienced lower volatility, minimal currency fluctuation, and less exposure to falling oil prices in the recent market environment in comparison…

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Jan 16, 2020

S&P and Dow Jones Islamic Benchmarks Finished 2019 with Standout Performance

Shariah-Compliant Benchmarks Continued to Outperform Conventional Indices Global S&P and Dow Jones Shariah-compliant benchmarks finished a standout 2019, a welcomed turnaround in comparison to the lackluster returns of the prior year. Broad-based Islamic indices outperformed their conventional counterparts in 2019 as Information Technology—which tends to be overweight in Islamic indices—led sector returns by significant margins,…

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Jan 13, 2020

S&P China 500 Ignores Trade Tensions to End the Year on a High Note

The S&P China 500 advanced 12.9% in Q4 2019, an indication that investors shrugged off U.S.-China trade tensions and signs of a slowing economy. The performance was a reversal from losses during the prior two quarters, which had followed an outstanding 23.6% surge in Q1 2019. The full-year result was a welcome contrast to the…

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Oct 14, 2019

The Outperformance of S&P and Dow Jones Islamic Market Indices versus Conventional Indices through Q3 2019

Developed Market Indices Lead, Emerging Markets Lag the Broad Market Global S&P and Dow Jones Shariah-compliant benchmarks outperformed their conventional counterparts YTD in 2019, as Information Technology—which tends to be overweight in Islamic indices—continued to lead the sectors, while Financials—which is underrepresented in Islamic indices—continued to underperform the broader market. The S&P Global BMI Shariah…

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Jul 12, 2019

S&P and Dow Jones Islamic Market Indices Largely Outperformed Conventional Indices in Q2 2019

Developed Market Indices Continued to Outperform Conventional Indices, Emerging Markets Lagged Global S&P and Dow Jones Shariah-compliant benchmarks outperformed their conventional counterparts YTD in 2019, as Information Technology—which tends to be overweight in Islamic indices—has been a sector leader, while Financials—which is underrepresented in Islamic indices—continued to underperform the broader market. The S&P Global BMI…

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Jul 11, 2019

S&P China 500 Declined 2.8% in Q2 2019; Gains Stood at 20.2% YTD

The S&P China 500 declined 2.8% in Q2 2019, as the U.S.-China trade tensions and threat of company sanctions weighed on returns, even as expectations for eased tensions improved. The decline followed the 23.6% Q1 2019 surge in the index, ultimately leading to overall healthy gains of 20.2% YTD. Chinese stocks generally lagged global benchmarks…

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May 30, 2019

S&P/TSX 60 2019 Gains Boosted by Exposure to the U.S.

The S&P/TSX 60 gained 15.5% YTD[i] and many companies included in the index have benefitted from business prospects in the U.S. While nearly all stocks in the index are domiciled in Canada, 49%[ii] of combined revenues come from within Canada’s borders, while another 30% are sourced in the U.S. As shown in Exhibit 1, stocks…

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Apr 12, 2019

S&P and Dow Jones Islamic Indices Outperform Conventional Benchmarks in Q1 2019

Information Technology and Financial Sectors Biggest Contributors Global S&P and Dow Jones Shariah-compliant benchmarks outperformed their conventional counterparts in Q1 2019 as Information Technology—which tends to be overweight in Islamic indices—finished the quarter at the top of the sector leaderboard while Financials—which is underrepresented in Islamic indices—underperformed the broader market. The S&P Global BMI Shariah…

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