All Large cap articles

  • Has the PE recovery gone too far, too fast?
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    Blog | Has the PE recovery gone too far, too fast?

    2020-05-20T08:46:00Z By FTSE Russell

    Forward PE multiples have fully recovered from their March lows, with most now at or approaching their highest levels of the past five years. The bounce has been particularly striking for the US large-cap Russell 1000, which has climbed more than 600 basis points to around 20× (a 15-year high), and for the FTSE Europe, up more than 500 basis points. The Russell 1000 multiple retains its sizable premium to those of its developed peers, which have converged around 14-15×.

  • SPIVA® U.S. Scorecard
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    SPIVA® U.S. Scorecard

    2020-05-13T13:43:00Z By S&P Dow Jones Indices

    2019 was a remarkable year for equity markets in the U.S. and around the world. Boosted by an accommodative Fed policy, low unemployment, low inflation, and continued global growth, risk assets across the board did well—all of the benchmarks tracked in the SPIVA U.S. Scorecard had positive returns, with the S&P 500® Value leading the pack at 31.9%.

  • Business as Usual for the S&P Paris-Aligned Climate Indices
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    Business as Usual for the S&P Paris-Aligned Climate Indices

    2020-05-05T13:59:00Z By S&P Dow Jones Indices

    On April 20, 2020, the S&P Eurozone LargeMidCap Paris-Aligned Climate Index (S&P Eurozone PA Climate Index) was launched (see press release). This index has been designed to align with recommendations from the Task Force on Climate-related Financial Disclosures and follow the new minimum standards for EU Paris-Aligned Benchmarks proposed by the EU,[1] while remaining as close as possible to its benchmark index, the S&P Eurozone LargeMidCap.

  • Forty+ Years of Insights
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    Research paper: Russell 2000 – Forty+ Years of Insights

    2020-04-23T11:33:00Z By FTSE Russell

    The Russell 2000 has become the preeminent representative of the US small-cap stock domain since its inception in 1984. More than 40 years of data enables deep insights into the relative performance and distinct characteristics of small-cap stocks. While there has been no clear performance advantage of small-cap stocks over large-cap stocks over the past four decades, there have been material differences over shorter periods, primarily driven by the underlying industry composition and economic sensitivities that distinguish large companies from their smaller counterparts. 

  • Performance Trickery, part 3
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    Performance Trickery, part 3

    2020-04-16T07:47:00Z By S&P Dow Jones Indices

    Success is hard to come by for active managers, as readers of our SPIVA reports know well.  Sometimes what appears to be stock selection skill is in fact simply a byproduct of style drift across the capitalization scale.

  • The Case for Technology Dividend Growers
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    The Case for Technology Dividend Growers

    2020-04-15T21:44:00Z By S&P Dow Jones Indices

    It was once thought that companies from the Information Technology sector do not pay dividends. While this may have been the trend a long time ago, it certainly has not been for the last decade. Over the past 10 years, within the Information Technology sector of the S&P 500®, 26 companies initiated dividend payments and 59 companies increased their dividends at various points throughout those years, for a total of 376 dividend increases in the sector.

  • Glory or Embarrassment
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    Glory or Embarrassment?

    2020-04-13T21:49:00Z By S&P Dow Jones Indices

    Active funds generally lagged their passive benchmarks in 2019, but the market environment in 2020 has already shifted radically. Volatility has skyrocketed as the S&P 500® and other indices have fallen. Ironically, it is precisely in a time such as this, when absolute returns are hard to come by, that relative returns might be most readily attainable. This is true not just for traditional stock pickers, but also for active managers looking to express tactical views on the business cycle through sector rotation.

  • 2 birds one stone
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    Two Birds, One Stone: How the S&P Paris-Aligned Climate Index Concept Meets the Proposed EU Climate Benchmark Regulation and the Recommendations of the TCFD

    2020-04-07T20:47:00Z By S&P Dow Jones Indices

    As the world continues to pump the gas on a one-way street toward catastrophic climate change, market actors are attempting to slow down the traffic by limiting global temperature rise to within 1.5°C since pre-industrial levels.

  • Russell 1000 leads Russell 2000 in stampede to safety
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    Blog | Russell 1000 leads Russell 2000 in stampede to safety

    2020-04-01T06:21:00Z By FTSE Russell

    The outperformance of US large caps over their small-cap peers that began last June persisted through the March 2020 turmoil, underpinned by the extreme investor run for safer ground. The Russell 1000 fell 20.2% in Q1 2020, versus a drop of 30.6% for the Russell 2000. While both indexes enjoyed sharp rebounds in late March, only the Russell 1000 is back in positive territory for the longer term (up 4.9% since January last year). The Russell 2000 remains deeply in the red (down 12.9% for the same period).

  • The Rising Importance of ESG Data
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    The Rising Importance of ESG Data

    2020-03-25T20:56:00Z By S&P Dow Jones Indices

    The demand from investors for environment, social, and governance (ESG) data and ESG products has never been stronger. This has triggered a growing industry of ESG data providers in the market. It is vital for S&P Dow Jones Indices (S&P DJI), when choosing ESG data providers who drive our ESG solutions to work with market-leading global practitioners. These practitioners must be able to demonstrate in-depth company analysis and robust governance structures, ensuring the quality of their data and our products.

  • Through the Turbulence a New Breed of ESG Indices Delivers
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    Through the Turbulence, a New Breed of ESG Indices Delivers

    2020-03-24T20:59:00Z By S&P Dow Jones Indices

    Have the new beta-like ESG indices delivered on their objectives, notwithstanding the market turmoil? The answer is yes, and then some. The S&P 500® ESG Index has provided low tracking error relative to the S&P 500 and similar risk, but also a better return.

  • Tipping the scales of corporate profitability with gender-diverse boards
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    Insights: Tipping the scales of corporate profitability with gender-diverse boards

    2020-03-03T10:22:00Z By Eaton Vance

    Published research links board diversity to increased corporate profitability, but a key question for investors is how much diversity is required to make a financially material difference to companies.

  • 2020 Long-Term Capital Market Assumptions Q1 update
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    2020 Long-Term Capital Market Assumptions Q1 update

    2020-02-11T14:13:00Z By Invesco

    Invesco Investment Solutions develops capital market assumptions (CMAs) that provide long-term estimates for the behaviour of major asset classes globally. 

  • S&P Composite 1500 - SPIVA
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    S&P Composite 1500®: SPIVA

    2020-01-14T13:23:00Z By S&P Dow Jones Indices

    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 (and rightly so), the S&P Composite 1500 can be a more appropriate benchmark for funds that are not limited to large-cap stocks.

  • Small could be beautiful, as mega caps overreach
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    Small could be beautiful, as mega caps overreach

    2020-01-13T17:06:00Z By Fidelity International

    At 11 years and counting, this is the longest bull market in history - driven primarily by the record-breaking performance of mega caps, led by the technology giants. But the big names seldom maintain their position at the top of the S&P leader board from one decade to the next. Investors may be better placed focusing on small and mid caps, which are under-owned, cheaper and will benefit more quickly if the global economy picks up steam.

  • After a banner year for global equities, what can we expect in 2020?
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    Blog | After a banner year for global equities, what can we expect in 2020?

    2020-01-08T11:04:00Z By FTSE Russell

    The strong rally in global equities in the fourth quarter capped a year of robust gains across global equity markets as reflected in FTSE Russell index performance. This included a more than 31% return for the US large-cap Russell 1000® Index with similar positive returns across other developed and emerging markets equities.

  • BLOG US equity markets - a focus on size and style
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    Blog | US equity markets - a focus on size and style

    2019-12-12T14:13:00Z By FTSE Russell

    As investors race toward the finish for 2019 and look ahead to 2020, US large caps continue to outperform small caps while growth still leads value. FTSE Russell market experts share insight on whether these trends are likely to continue into the new year

  • China A50 is big still beautiful
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    Blog | China A50: is big still beautiful?

    2019-12-10T14:25:00Z By FTSE Russell

    China A Shares have made headlines as major index providers have begun phasing them into their major global equity indexes. The inclusion process began recently, but FTSE Russell has offered China A Shares indexes since 2001, when China first started easing restrictions on A Shares foreign investment.

  • Blending Low Volatility with Dividend Yield in the China A-Share Market
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    Blending Low Volatility with Dividend Yield in the China A-Share Market

    2019-11-19T12:57:00Z By S&P Dow Jones Indices

    This paper examines the potential benefits of blending high dividend and low volatility strategies in the China A-share large-cap equity market.

  • CFA Institute Blueprint for the EU Capital Markets Union for the European Parliamentary Legislative Period, 2019–2024
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    CFA Institute Blueprint for the EU Capital Markets Union for the European Parliamentary Legislative Period, 2019–2024

    2019-11-14T10:38:00Z By CFA Institute

    This blueprint addresses four principal topics: capital markets union, fintech, sustainable finance, and value for money. We worked together with our members from 23 CFA EU societies to publish a this paper describing the main policy and regulation challenges they encounter in their local financial market and underlining some possible solutions.