Tag Archives: pure value
A Selective Approach to Style: The S&P Pure Growth and Value Indices
S&P Dow Jones Indices (S&P DJI) offers style and pure style indices, which categorize companies based on their growth and value characteristics. We recently published the paper Comparing S&P Style & Pure Style Indices, where we highlighted differences in design, fundamentals and potential applications for both index series. Exhibit 1 summarizes the index construction of…
- Categories Factors
- Other Tags
Surveying Style Indices
How can index construction inform style selection? S&P DJI’s Craig Lazzara takes a closer look at the S&P Style and S&P Pure Style Indices and how these different approaches to indexing Growth and Value are designed to help advisors align strategies with client objectives.
- Categories Equities, Factors
-
Other Tags
2023, Craig Lazzara, equities, factors, Financial Advisors, growth investing, growth vs. value, indexing, pure growth, pure style, S&P 500 Growth, S&P 500 Pure Growth, S&P 500 Pure Value, S&P 500 Value, S&P Pure Style, S&P Pure Style Indices, S&P Style, Style, style bias, U.S. style, US FA, value investing
- Other Tags
- 2023, Craig Lazzara, equities, factors, Financial Advisors, growth investing, growth vs. value, indexing, pure growth, pure style, S&P 500 Growth, S&P 500 Pure Growth, S&P 500 Pure Value, S&P 500 Value, S&P Pure Style, S&P Pure Style Indices, S&P Style, Style, style bias, U.S. style, US FA, value investing
Why What’s Inside the Style Box Matters
Take a closer look at the style spectrum with S&P DJI’s Garrett Glawe and explore how index construction influences risk/return.
- Categories Equities
- Other Tags
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…
- Categories Equities, S&P 500 & DJIA
- Other Tags
Value Resurgent
This year marks the 30th anniversary of the launch of indices designed to distinguish growth and value investment styles. Investment managers had classified themselves as growth or value specialists (among other possible differentiators) before 1992, but until then it wasn’t possible to evaluate a value manager against a systematically defined value benchmark or a growth…
- Categories Equities, S&P 500 & DJIA
- Other Tags
Riding the Value Wave
U.S. equity markets seemed to undergo a fundamental change of direction in September of last year. Exhibit 1 illustrates the shift; our growth indices, which had outperformed value handily through the end of August, have lagged ever since. The spreads between growth and value are even greater when we compute them using our Pure Growth…
- Categories Equities, S&P 500 & DJIA
- Other Tags
- Categories
- Equities, S&P 500 & DJIA
- Other Tags
Continued Dominance of Growth Style Investing
Growth style investing has outperformed value for over a decade but its relative returns against value so far in 2020 have been unprecedented: the S&P 500® Growth index boasts its highest-ever year-to-date relative returns (+32%) versus its value counterpart through the third quarter. This comes despite growth’s eight-month winning streak coming to an end in…
- Categories Factors, S&P 500 & DJIA
- Other Tags
Indices Made Remarkable Recovery in Q2
After a volatile start to 2020, many investors were looking at double digit declines and were probably re-evaluating their 2020 expected returns. But while COVID-19 continued to determine market sentiment, Q2 hosted a remarkable recovery. The S&P 500 (+20.54%) and the S&P MidCap 400 (+24.07%) posted their highest quarterly total returns since 1998, while the…
- Categories Equities, S&P 500 & DJIA
- Other Tags
Using GARP Strategies for Indices Part III – Risk and Return
In this blog, the third in our introduction to Growth at a Reasonable Price (GARP) strategies, we look at risk and return. The main objective of the S&P 500® GARP Index is to capture the performance of growth stocks with relatively high quality and value composite scores over a long-term investment horizon. Historically, the GARP…
- Other Tags
Using GARP Strategies for Indices Part II – Constituent Selection
In a previous blog, we took the first and second steps in our Growth at a Reasonable Price (GARP) strategy construction. We introduced the GARP investment strategy and showed how it can be implemented systematically. In this blog, we will take the third and fourth steps: using a multi-factor sequential filtering process for security selection…
- Other Tags