The gap in returns between the S&P 500 and the index's equal-weighted counterpart is at its widest in 15 years, underscoring the need to diversify beyond AI heavyweights such as Nvidia.
FILE PHOTO: U.S. dollar notes are seen in front of a stock graph in this November 7, 2016 picture illustration. REUTERS/Dado Ruvic/Illustration/File PhotoThe gap in returns between the S&P 500 and the index's equal-weighted counterpart is at its widest in 15 years, underscoring the need to diversify beyond AI heavyweights such as Nvidia.
The spread in total returns between the S&P 500 and the benchmark index's equal-weighted peer widened to 10.21 per cent in the first half of the year, according to data from S&P Dow Jones Indices. The spread between the S&P 500 and its equal-weighted counterpart was the most since 2009, when tech stocks rebounded from a bruising selloff during the 2007-08 financial crisis.
Excluding Nvidia, whose shares have more than doubled, the S&P 500 is up about 10 per cent in the first half of 2024, and without the so-called"Magnificent Seven" stocks the benchmark index's gains are just over 6 per cent, S&P Dow Jones Indices data showed.
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