After all the ups and downs – or more accurately, downs and then ups in the market over the last six months, the S&P 500 is now just over 2% from its all-time closing high on 9/20. As you might expect, though, not all groups have seen the same moves over that time. During this span, a number of Industries in the S&P 500 have done very well while even more have fared poorly. In the tables below, we highlight the best and worst performing Industries since 9/20/18 along with their current weighting in the S&P 500.
First the bad news. On the downside, over a third of S&P 500 Industries are still down 5% or more from their closing levels on 9/20, and ten of those are down over 10%. The worst performers on the list include Energy Equipment, which has lost over a quarter of its value, and Leisure Equipment, which is down nearly 20%. Thankfully for the market, both of these Industries have rather small weightings in the index. The same, however, can’t be said for Health Care Providers, Technology Hardware, and Banks, which all have weightings ranging from 2.4% to 5.5% and together account for 11.8% of the entire index. In terms of sector representation, Consumer Discretionary, Industrials, and Financials are all well represented. The same is true for Energy as both Industries in the sector are on the list.
Shifting to the good news, seven Industries in the S&P 500 have bucked the trend and are up over 10% since the market peaked back on 9/20. Leading the way higher, Power and Renewable Electricity is up nearly 25%, but unfortunately, even after the move it still only accounts for just 0.1% of the entire index. Behind Power and Renewables, though, the next four Industries all have weightings of 1% or more. The biggest contributor to the upside on the list has been Software as it has risen 6.5% and accounts for 6.2% of the entire S&P 500. Start a two-week free trial to Bespoke Premium to access our interactive research portal. You won’t be disappointed!