Market Recap

Check out our monthly market recap for performance related metrics, including analysis’ on factors and sectors of the market

Market Summary

  • Financial markets (DOW, NASDAQ, S&P500) finished mixed for the month
  • Long-term indicators for an ongoing sector rotation from growth into value remain
    • Value outperformed growth for the month and continues to outperform YTD
      • Led by small cap equities

Factor Analysis


Sector Analysis


Closing Thoughts

  • The chart below shows a 3-year performance of DVY (dividend/value) versus the S&P500 (growth)
    • While growth has outperformed value on a long-term basis, the performance spread is narrowing in the short-term
      • Performance data is consistent with an ongoing sector rotation from growth into value

3-year performance differential

  • Second chart shows a 3-year comparison of the performance spread between the 2-Y and the 10-Y yields;
    • Investor fears continue as the gap in the yield curve continues to widen

Performance Spread Differential between 2-Y bonds and 10-Y bonds

Past Performance is no guarantee of future results

All performance related metrics were gathered from Fidelity Research

Market Recap

Check out our monthly market recap for performance related metrics, including analysis’ on factors and sectors of the market

Market Summary

  • Financial markets (DOW, NASDAQ, S&P500) finished mixed for the month
  • Long-term indicators for an ongoing sector rotation from growth into value remain
    • Value outperformed growth for the month and continues to outperform YTD

Factor Analysis


Sector Analysis


Closing Thoughts

  • The chart below shows a 3-year performance of DVY (dividend/value) versus the S&P500 (growth)
    • While growth has outperformed value on a long-term basis, the performance spread is narrowing in the short-term
      • Performance data is consistent with an ongoing sector rotation from growth into value

3-year performance differential

  • Second chart shows a 3-year comparison of the performance spread between the 2-Y and the 10-Y yields;
    • Investor fears continue as the gap in the yield curve continues to widen

Performance Spread Differential between 2-Y bonds and 10-Y bonds

Past Performance is no guarantee of future results

All performance related metrics were gathered from Fidelity Research

Market Recap

Check out our monthly market recap for performance related metrics, including analysis’ on factors and sectors of the market

Market Summary

  • Financial markets (DOW, NASDAQ, S&P500) finished mixed for the month
  • Long-term indicators for an ongoing sector rotation from growth into value remain
    • Value outperformed growth for the month and continues to outperform YTD
      • Led by small cap performance
Factor Analysis:

Sector Analysis:

Closing Thoughts

  • The chart below shows a 3-year performance of DVY (dividend/value) versus the S&P500 (growth)
    • While growth has outperformed value on a long-term basis, the performance spread is narrowing in the short-term
      • Performance data is consistent with an ongoing sector rotation from growth into value

3-year performance differential

  • Second chart shows a 3-year comparison of the performance spread between the 2-Y and the 10-Y yields;
    • Investor fears continue as the gap in the yield curve continues to widen

Performance Spread Differential between 2-Y bonds and 10-Y bonds

Past Performance is no guarantee of future results

All performance related metrics were gathered from Fidelity Research