Tag Archives: S&P Composite 1500
SPIVA U.S. Year-End 2019 Scorecard: Active Funds Continued to Lag
2019 was a remarkable year for risky assets. All benchmarks tracked in the SPIVA U.S. Year-End 2019 Scorecard delivered positive returns. Information Technology-heavy and more internationally diversified companies of the S&P 500® pushed the index to its second- and fourth-highest annual return since 2001 and 1990, respectively. In addition, the S&P MidCap 400® (26.2%) and…
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S&P Composite 1500®: Providing Higher Quality U.S. Equity Exposure
Over the last few years, mega-cap companies have played an increasingly important role in driving U.S. equity market returns. Indeed, the five largest names in the S&P 500® accounted for 16.8% of the index at the end of last year, the highest year-end weight since 1982 and higher than the 16.6% reached at the end…
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S&P Composite 1500®: Providing Efficient, Non-Overlapping Coverage of the U.S. Equity Market
When it comes to measuring the performance of U.S. equity market, some broad market indices have more constituents than others. But having a larger number of constituents does not necessarily lead to significantly wider market capitalization coverage. That’s because broad equity benchmarks are usually market-capitalization weighted, with the majority of the index weight concentrated in…
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S&P Composite 1500®: SPIVA
While the iconic S&P 500® is one of the world’s best known benchmarks, the S&P Composite 1500 (comprising the S&P 500, S&P MidCap 400®, and S&P SmallCap 600®) covers a broader spectrum of the capitalization of the U.S. equity market. Though the S&P 500 is often used as a measuring stick for large-cap fund performance…
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S&P Composite 1500®: Measuring Market Trends
The S&P Composite 1500 measures the U.S. equity market by combining three world-renowned benchmarks – the S&P 500®, S&P MidCap 400®, and S&P SmallCap 600® – which together encompass approximately 90% of U.S. equity market capitalization. With 2019 in the rear-view mirror, it is obvious that last year was extremely positive for U.S. equities: the…
- Categories Equities, S&P 500 & DJIA
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S&P High Yield Dividend Aristocrats Part I: Strategy Characteristics
With the 10-Year Treasury yield around just 1.5% and the potential for more interest rate cuts on the horizon, yield-seeking investors may become more interested in equity dividend yield strategies. Dividend strategies can satisfy investors’ needs in several regards, namely higher dividend income, favorable risk-adjusted returns, lower volatility, and more downside protection in bearish market…
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For Active Managers, Staying on Top Is Not Enough
S&P DJI’s Mid-Year 2019 Persistence Scorecard may offer a hint of encouragement for active fund managers. Performance persistence, measured over the three-year period ending March 2019, rose from prior periods. Among the domestic equity funds that were in the top quartile as of March 2017, 11.36% were able to go on and maintain their top-quartile…
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2018 SPIVA® Scorecard: Volatility Does Not Help Active Performance
Contrary to the myth that active managers tend to fare better than their benchmarks during volatile markets, 68.83% of domestic equity funds lagged the S&P Composite 1500® during the one-year period ending Dec. 31, 2018, making 2018 the fourth-worst year for active U.S. equity managers since 2001 (see Exhibit 1). Evidence from the SPIVA U.S….
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SPIVA® U.S. Mid-Year 2018 Summary
The latest results from the SPIVA U.S. Mid-Year 2018 Scorecard show improvement in the relative performance of actively managed domestic equity funds against their respective benchmarks. During the one-year period ending June 30, 2018, the overall percentage of all domestic funds outperforming the S&P Composite 1500® increased to 42.02%, compared with six months prior (36.57%)….
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The Impact of Style Classification on Active Management Performance in 2017: Part 2
In our previous blog, we highlighted the contribution to domestic equity market returns by mega-cap stocks in 2017 and the implications for active management. In this blog, we focus our discussion on investment style classification. Specifically, we analyze the impact of the style classification scheme on managers’ performance analysis, such as in the SPIVA® U.S….