Tag Archives: U.S. Equities
Exploring the Case for Global Diversification in the Middle East
What’s the role of global diversification in the Middle East? S&P DJI’s John Welling and Chimera Capital’s Sherif Salem join Dubai Financial Markets’ Eric Salomons for a closer look at the growing role of passive investing in the Middle East and how investors are using indices to inform allocations.
- Categories Equities
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Splitting Size in U.S. Equities: S&P DJI versus MSCI in H1 2023
The first half of 2023 saw a strong rebound from 2022 for equities: the S&P 500® gained 17% as the U.S. outperformed the S&P Global Ex-U.S. BMI (up 10%). Information Technology led the way across the U.S. cap spectrum, possibly reflecting investors’ expectations regarding the potential impact of artificial intelligence. The S&P Composite 1500® combines…
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S&P U.S. Indices Mid-Year 2023: Analyzing Relative Returns to CRSP
Following a challenging 2022, H1 2023 hosted a recovery among U.S. equities: the S&P 500® (up 16.9%) posted its fourth-best first half since 1996, and there were gains across the market cap spectrum. But on a relative basis, and in contrast to longer horizons, the S&P Core U.S. Equity Indices lagged their CRSP counterparts in…
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S&P U.S. Indices H1 2023: Analyzing Relative Returns to Russell
After a challenging year in 2022, the U.S. equity market saw a strong turnaround in the first half of 2023, with the S&P 500® up 17% since year-end 2022. Exhibit 1 shows that the rebound was also observed across the cap spectrum. Returns in the second quarter outperformed the first quarter after the market shook…
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Mean Reversion
Over more than 20 years of live history, the S&P 500® Equal Weight Index has outperformed the S&P 500 by a substantial margin. Between Dec. 31, 1990, and June 30, 2023, Equal Weight’s compound annual growth rate was 11.82%, well ahead of the cap-weighted S&P 500 at 10.55%. This performance edge is a product of…
- Categories Equities, Factors, S&P 500 & DJIA
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How Does the S&P 500 ESG Index Work?
Look under the hood of the sustainability-focused version of the S&P 500 and discover how index design influences diversification and performance.
- Categories Sustainability
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Disentangling Diversification
We frequently hear that “it’s a stock picker’s market.” The recent market environment could equally well be characterized as a sector picker’s market. To measure the importance of sectors, we decompose total market dispersion into within-sector and cross-sector effects. Exhibit 1 shows that the contribution of cross-sector effects to total S&P 500® dispersion has trended…
- Categories Equities, S&P 500 & DJIA
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- Equities, S&P 500 & DJIA
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SPIVA Canada Scorecard 2022: Country, Currency and Concentration Contexts
Since 2004, our SPIVA® Canada Scorecards have shown that a majority of actively managed Canadian equity funds typically underperform the S&P/TSX Composite Index. However, according to the recently published SPIVA Canada Year-End 2022 Scorecard, the annual underperformance rate dropped to the best result we have seen since 2015: just 52% of Canadian Equity managers lagged…
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Equities Recover
In the first seven weeks of 2023, U.S. equities regained a third of the ground lost in 2022 (down 18.1% in 2022 and up 6.5% YTD through February 17, 2023). Exhibit 1 shows that since its last rebalance, the S&P 500® Low Volatility Index, which seeks to mute the gyrations of the market in both…
- Categories Factors
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Active Ability versus Active Outperformance
Some commentators have argued that today’s market environment—characterized by rising rates and economic growth concerns—is a ripe environment for stock pickers. This argument is conditionally correct, as long as we remember that having the opportunity to add value does not guarantee that value gets added. In today’s environment, active managers have good potential to add…
- Categories Equities
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- Equities
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