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{“web page”:0,”12 months”:2023,”monthnum”:12,”day”:12,”title”:”get-a-holistic-lens-on-sustainability”,”error”:””,”m”:””,”p”:0,”post_parent”:””,”subpost”:””,”subpost_id”:””,”attachment”:””,”attachment_id”:0,”pagename”:””,”page_id”:0,”second”:””,”minute”:””,”hour”:””,”w”:0,”category_name”:””,”tag”:””,”cat”:””,”tag_id”:””,”writer”:””,”author_name”:””,”feed”:””,”tb”:””,”paged”:0,”meta_key”:””,”meta_value”:””,”preview”:””,”s”:””,”sentence”:””,”title”:””,”fields”:””,”menu_order”:””,”embed”:””,”category__in”:[],”category__not_in”:[],”category__and”:[],”post__in”:[],”post__not_in”:[],”post_name__in”:[],”tag__in”:[],”tag__not_in”:[],”tag__and”:[],”tag_slug__in”:[],”tag_slug__and”:[],”post_parent__in”:[],”post_parent__not_in”:[],”author__in”:[],”author__not_in”:[],”search_columns”:[],”ignore_sticky_posts”:false,”suppress_filters”:false,”cache_results”:true,”update_post_term_cache”:true,”update_menu_item_cache”:false,”lazy_load_term_meta”:true,”update_post_meta_cache”:true,”post_type”:””,”posts_per_page”:”5″,”nopaging”:false,”comments_per_page”:”50″,”no_found_rows”:false,”order”:”DESC”}
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Indices”,”image”:”/wp-content/authors/barbara_velado-413.jpg”,”url”:”https://www.indexologyblog.com/author/barbara_velado/”},{“display”:”Benedek Vu00f6ru00f6s”,”title”:”Director, Index Investment Strategy”,”image”:”/wp-content/authors/benedek_voros-440.jpg”,”url”:”https://www.indexologyblog.com/author/benedek_voros/”},{“display”:”Cristopher Anguiano”,”title”:”Senior Analyst, U.S. Equity Indices”,”image”:”/wp-content/authors/cristopher_anguiano-506.jpg”,”url”:”https://www.indexologyblog.com/author/cristopher_anguiano/”},{“display”:”Joseph Nelesen”,”title”:”Senior Director, Index Investment Strategy”,”image”:”/wp-content/authors/joseph_nelesen-452.jpg”,”url”:”https://www.indexologyblog.com/author/joseph_nelesen/”},{“display”:”Michael Mell”,”title”:”Global Head of Custom Indices”,”image”:”/wp-content/authors/michael_mell-362.jpg”,”url”:”https://www.indexologyblog.com/author/michael_mell/”},{“display”:”Maya Beyhan”,”title”:”Senior Director, ESG Specialist, Index Investment 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Indices”,”image”:”/wp-content/authors/fei_wang-443.jpg”,”url”:”https://www.indexologyblog.com/author/fei_wang/”},{“display”:”Jaspreet Duhra”,”title”:”Managing Director, Global Head of Sustainability Indices”,”image”:”/wp-content/authors/jaspreet_duhra-504.jpg”,”url”:”https://www.indexologyblog.com/author/jaspreet_duhra/”},{“display”:”Eduardo Olazabal”,”title”:”Senior Analyst, Global Equity Indices”,”image”:”/wp-content/authors/eduardo_olazabal-451.jpg”,”url”:”https://www.indexologyblog.com/author/eduardo_olazabal/”},{“display”:”Srineel Jalagani”,”title”:”Senior Director, Thematic Indices”,”image”:”/wp-content/authors/srineel_jalagani-446.jpg”,”url”:”https://www.indexologyblog.com/author/srineel_jalagani/”},{“display”:”Ari Rajendra”,”title”:”Senior Director, Head of Thematic Indices”,”image”:”/wp-content/authors/Ari.Rajendra-524.jpg”,”url”:”https://www.indexologyblog.com/author/ari-rajendra/”},{“display”:”Daniel Perrone”,”title”:”Former Director and Head of Operations, ESG 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Get a Holistic Lens on Sustainability
Classes
ESG
Tags
Company Sustainability Evaluation, ESG, ESG knowledge, ESG scores, affect investing, Indexing ESG, indexing sustainability, S&P International Company Sustainability Evaluation, S&P International CSA, S&P International ESG Scores, S&P International S1, S&P International Sustainability1, sustainability, sustainability knowledge, sustainability indices
Make extra knowledgeable sustainability selections with deeper knowledge – our indices are powered by analytics from the world-renowned S&P International Company Sustainability Evaluation.
The posts on this weblog are opinions, not recommendation. Please learn our Disclaimers.
Forging the International Vitality Transition: An Index for Important Metals
Classes
ESG, Thematics
Tags
cobalt, vitality transition expertise, ESG thematics, important metals, world vitality transition, lithium, Palladium, uncommon earths, S&P International Important Metals Producers Index, sustainability, Thematics ESG
Look contained in the S&P International Important Metals Producers Index, a pure-play index that tracks the businesses serving to the world forge the way forward for vitality innovation.
The posts on this weblog are opinions, not recommendation. Please learn our Disclaimers.
Surveying the Newest SPIVA India Scorecard Outcomes
Classes
Equities, Fastened Revenue
Tags
Lively vs. Passive, Benedek Voros, Bhavna Sadarangani, IIS, indexing, indexing India, India, Indian Composite Bond Funds, Indian ELSS Funds, Indian Authorities Bond Funds, institutional investor, S&P BSE 100, S&P BSE 200, s&p indices versus lively, SPIVA, SPIVA India Mid-Yr 2023
Have been lively and glued earnings fund managers in a position to sustain with their benchmarks within the newest SPIVA India Scorecard? Dive into the most recent outcomes with S&P DJI’s Bhavna Sadarangani and Benedek Vörös.
The posts on this weblog are opinions, not recommendation. Please learn our Disclaimers.
Pleased Days for How Lengthy?
Anu Ganti
Senior Director, Index Funding Technique
S&P Dow Jones Indices
Classes
Equities, Fastened Revenue, S&P 500 & DJIA
Tags
2023, Anu Ganti, equities, fairness efficiency, mounted earnings, iBoxx Liquid Funding Grade, IIS, info expertise, institutional investor, IT, S&P 500, S&P 500 Sectors, S&P China 500, U.S. Fairness, US FA, VIX
With lower than a month left to go to shut out the 12 months, it’s time to mirror on the highs and lows that market contributors have skilled. Whereas the 12 months started with a rocky begin as a result of Silicon Valley Financial institution collapse, the market continued to energy ahead, stumbling in Q3 as 10-year Treasury yields rose to a 15-year excessive, however recovering with a bang in November, with the S&P 500® up 21% YTD.1 One consequence of rising Treasury yields was the surge within the U.S. greenback, which generally is a forex headwind for mega caps, as U.S. multi-nationals have a tendency to realize most of their income from abroad. However that didn’t hamper the tear that mega caps had been on this 12 months, as Exhibit 1 illustrates, with the S&P 500 High 50 outpacing the S&P 600® by 28% YTD. Whereas we lately noticed a pullback in 10-year yields together with the greenback, with the S&P U.S. Greenback Futures Index down 2% in November, if that development continues, that might probably be an extra profit to mega-cap power.
Whereas small caps recovered in November, this 12 months’s large-cap-led rally has been uncommon by way of its slender breadth. We are able to visualize this in Exhibit 2, the place we rank the historic annual S&P 500 returns in our database by skewness of constituent returns, as measured by the distinction between the typical versus median constituent return, and subsequently divide them into quartiles. Then we carry out the identical train, now rating by skewness of constituents’ return contribution. Thus far this 12 months, the typical return has been better than the median by 3.5%, in between the third and fourth quartile, whereas the typical constituent contribution has been better than the median by 3.7%, positioned proper under the fourth quartile stage. These comparatively excessive outcomes are according to the focus of outperformance inside the Magnificent Seven shares, which has been unusually excessive relative to historical past, and maybe a headwind for extra concentrated lively managers which might be underweight the most important shares.
Returning to the ascent of 10-year Treasury yields, the rise was not restricted to the lengthy finish of the curve, with a major climb in short-term Treasury yields on the again of Fed price hikes to fight inflation. However as 10-year yields picked up steam, the inverted yield curve started to disinvert. At a sector stage, Exhibit 3 exhibits that the momentum in Data Know-how has continued regardless of the sector’s conventional sensitivity to greater charges, whereas Utilities, historically extra bond-like in nature, is unsurprisingly the worst sectoral performer YTD. What’s shocking is that whereas Financials ought to profit from the disinversion of the yield curve, which might enhance banks’ internet curiosity margins, the sector has not managed to completely get better submit the Silicon Valley Financial institution tumult.
Along with spectacular fairness efficiency, we witnessed a robust restoration in mounted earnings in comparison with final 12 months’s abysmal efficiency, with the iBoxx Liquid Funding Grade up 8% in November, its greatest month-to-month return since December 2008. However whereas absolute efficiency has been rosy, risk-adjusted efficiency might be more difficult given continued optimistic correlations between equities and bonds, a pure end result of features throughout each asset courses. In the meantime, regardless of China’s financial and actual property woes, with the S&P China 500 down 14% in USD phrases year-to-date, Asian markets supplied some solace, as we see in Exhibit 4, the place a constant unfavourable unfold in trailing 12-month volatility between the S&P International BMI and S&P International ex-Pan Asia BMI signifies Pan Asia has acted as a diversifier.
Placing threat into context, regardless of geopolitical tensions coupled with lingering inflation and recession issues, Exhibit 5 exhibits that the market has been comfortable, with the VIX® trending downward previously 12 months, ending November under the 13 deal with. However what sign has low fairness implied volatility given for future fairness returns traditionally? We rank the identical years in our database by VIX and divide them into three buckets based mostly on a VIX stage at year-end of lower than 13, between 13 and 20, and above 20. Traditionally, we see a linear relationship between the year-end stage of VIX and median subsequent 12 months S&P 500 returns, indicating that, on common, years ending with greater implied volatility tended to be adopted by greater returns.
Whereas predicting the long run has confirmed to be a futile train, if VIX continues to keep up its standing within the lowest fairness implied volatility bucket, a pullback from this 12 months’s extraordinary market efficiency wouldn’t be stunning.
1 YTD as of Dec. 5, 2023.
The posts on this weblog are opinions, not recommendation. Please learn our Disclaimers.
Monitoring Thematics: How Indexing Megatrends Works
Classes
Thematics
Tags
4th industrial revolution, altering demographics, clear vitality, Local weather Transition, disruptive expertise, Electrical Automobiles, ESG, well being care, Jason Ye, machine studying, megatrends, pure language processing, robotics, S&P Kensho New Economies, sustainability, thematics
What’s driving curiosity in thematics and the way can indices assist buyers goal world-shaping structural tendencies? Be a part of S&P DJI’s Jason Ye for a more in-depth have a look at how progressive benchmarks, together with the S&P Kensho New Economic system Indices, are monitoring long-term, market-altering themes by design.
The posts on this weblog are opinions, not recommendation. Please learn our Disclaimers.
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