The 50 largest stocks in the S&P500 have a median return of +13% this year while the 50 smallest stocks in the index are down 12%.
$SPX Source: Charlie Bilello
The S&P 500 climbed Wednesday to a fresh record, breaking above 5,600 for the first time, as a sharp rise in semiconductor stocks led the market higher.
The broad market index jumped 1.02%, closing at 5,633.91, and notching a seventh straight day of gains.
Sector composition of the S&P500 has shifted significantly over time.
energy used to be 26% of the index... Source: Goldman Sachs, Blake B. Millard
The S&P 493 earnings have been flat to down for the past five quarters.
2Q is expected to mark the first growth quarter for the Other 493. Could it lead to a more balanced market? Source: BofA
The S&P 500 is up 16.9% in 2024, the 13th best start to a year going back to 1928 and the best start to a presidential election year in history.
$SPX Source: Charlie Bilello
A good chart on how narrow the US market has been this year:
Source: Hidden Value Gems This was actually made originally by Grant Hawkridge https://lnkd.in/e8nwsZYA
S&P500 concentration at the highest level in at least 60 years: 5 largest stocks within S&P 500 = 28.99%
As mentioned by Jim Bianco: The risk of the current S&P500 concentration is that one day the opposite happens: five stocks could kill the index funds while everything else outperforms... "Restated, one buys an index fund to get diversification. But with record concentration, they are not getting it". Source: Bianco Research
Almost half of the S&P500 is now essentially tech...
Source: Wisdom Tree, Mike Zaccardi
