Tag Archives: 2022
The Power of Style
At some risk of oversimplification, the 16.1% decline in the S&P 500® for the first eight months of 2022 can be divided into three intervals, as the market fell by 20.0% through June, rallied in July, and then resumed its decline in August. This story, of course, is still evolving: for all we now know,…
SPIVA Institutional and the Pharaohs of Finance
Ptolemy I (367 BC-282 BC), one-time companion of Alexander the Great and later pharaoh of Egypt, has an important role in intellectual history. Among other contributions, he is credited with founding the library at Alexandria, one of the seven wonders of the ancient world, and for personally sponsoring the work of Euclid, a mathematician whose…
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Tucking in to the SPIVA Australia Mid-Year 2022 Scorecard
The semiannual S&P Indices Versus Active (SPIVA®) Scorecard1 measures the performance of actively managed funds against their corresponding benchmarks in various markets around the world. The latest Australian edition, the SPIVA Australia Mid-Year 2022 Scorecard, provides a number of interesting insights about the performance of active versus passive across active fund categories. Although the long-term…
- Categories Equities, Fixed Income
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Active, active management, Active vs. Passive, ASX, Australia, Australian bonds, Australian equities, Benedek Voros, IIS, Index Investment Strategy, Mid-Year 2022, Passive, passive investing, REIT, S&P Developed Ex-Australia LargeMidCap, s&p/asx 200, S&P/ASX 200 A-REIT, S&P/ASX Australian Fixed Interest 0+ Index, S&P/ASX Mid-Small, SPIVA, SPIVA Australia
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- Active, active management, Active vs. Passive, ASX, Australia, Australian bonds, Australian equities, Benedek Voros, IIS, Index Investment Strategy, Mid-Year 2022, Passive, passive investing, REIT, S&P Developed Ex-Australia LargeMidCap, s&p/asx 200, S&P/ASX 200 A-REIT, S&P/ASX Australian Fixed Interest 0+ Index, S&P/ASX Mid-Small, SPIVA, SPIVA Australia
S&P U.S. Core Indices Mid-Year 2022: Analyzing Relative Returns to Russell
In Q2 2022, the S&P 500®, S&P MidCap 400® and S&P SmallCap 600® all fell about 15%, continuing the declines from Q1 as of June 30, 2022 (see Exhibit 1). The S&P 500 experienced its worst first half since 1970. Amid the challenging environment, the S&P U.S. Core and Style Indices have generally proved more…
- Categories Equities, S&P 500 & DJIA
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S&P U.S. Indices Mid-Year 2022: Analyzing Relative Returns to CRSP
The first half of 2022 saw supply chain disruptions, interest rate hikes amid rising inflation and geopolitical tensions sour sentiment, creating a complex environment for equity markets. The S&P 500® was down 20%, which represented the worst start of the year since 1970. What was the impact on other S&P DJI U.S. equity indices and…
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Tumultuous Trends
The S&P 500® posted its worst first-half performance since 1970,1 as inflation concerns, Fed rate hikes and slowing economic growth have weighed on markets. Mega caps were hit particularly hard, with the S&P 500 Top 50 posting a loss of 22%, underperforming the S&P 500 by 2%. Exhibit 1 shows that Information Technology was the…
- Categories Equities, Factors, S&P 500 & DJIA
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Simplicity Yields Outperformance: The S&P 500 Low Volatility High Dividend Index
Last week, the S&P 500® officially entered a bear market, dropping more than 20% from its record close in January. However, not all equity indices suffered comparable losses, and one such example is the S&P 500 Low Volatility High Dividend Index. In fact, this index has outperformed by a wide margin so far in 2022….
Combining Dividend Strategies
Throughout this year’s market turmoil, dividend strategies have been among the most reliable sources of relative, if not absolute, performance. Through June 21, 2022, e.g., when the S&P 500® had declined -20.4% YTD, the S&P 500 High Dividend Index (roughly speaking, the 80 highest-yielding stocks in the 500) sustained a loss of only -3.7%. The…
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500 Dividend Aristocrats, 500 High Dividend, Craig Lazzara, diversification, Dividend, Dividend Aristocrats, dividend growth, dividend yield, dividends, efficient frontier, equities, Factor Performance, high dividend, index combinations, index performance, institutional investor, S&P 500, S&P 500 Dividend, S&P 500 Dividend Aristocrats, US FA
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A Closer Look at Indexing Equal Weight
How does indexing equal weight work in times of volatility and inflation? S&P DJI’s Craig Lazzara and Invesco’s Nick Kalivas discuss the key drivers behind equal-weight’s historical outperformance vs. the benchmark and what happens when equal weight is combined with factors and/or ESG.
Canadian Equities Go the Way of Global Equities
There has been no shortage of macroeconomic headwinds in 2022. Canadian equities were an exception in posting gains for the first three months of the year, but they have since fallen in step with most global equity markets. The S&P/TSX Composite Index lost 12.07% since its last rebalance on March 17, 2022. Uncommonly, the S&P/TSX…