We’re quickly approaching the one-year anniversary of the S&P 500’s all-time closing high made last May 21st. Below is a look at the performance of the S&P 500 and its ten sectors since that day. As shown, the S&P 500 as a whole is currently 2.4% below its all-time closing high. Since 5/21, four sectors are positive, while six are down. Utilities is up the most with a gain of 10.56%, followed by Consumer Staples at +8.79% and Telecom at 5.69%. All three of these sectors are defensive in nature, which speaks to the type of market we’ve been in over the last 11.5 months. The only other sector in the green since 5/21 is Consumer Discretionary, but nearly all of that gain is due to Amazon.com (AMZN) and Netflix (NFLX). On an equal-weighted basis, the Consumer Discretionary sector would be down as well.
The Energy sector is the main reason why the S&P 500 is still below its 5/21/15 all-time high. Energy is still down 16.56% since then even though it has rallied back 25% from its lows. Materials is down the second-most at -9.3%, followed by Health Care at -6.24% and Financials at -5.91%. The Technology sector is down 2.99%, which is just a bit more than the S&P 500 as a whole.
Over the next two weeks we’ll be doing a few more posts looking at asset class performance since the S&P’s last all-time high, so be on the lookout if you’re interested!