U.S. Performance Dashboard – August 2023
- Despite a strong recovery in the latter part of the month, the U.S. market rally took a breather in August, with the S&P 500® down 2%, as inflation concerns coupled with uncertainty around the future trajectory of rate hikes reared their head again. Smaller caps performed even worse, with the S&P SmallCap 600® down 4%.
- Energy maintained its spot at the top of the leaderboard and was the sole sector to post a gain.
- Momentum led among our reported factor indices, and in a sign of defense, Quality was in second place. Meanwhile, Low Volatility recovered, performing relatively better compared to High Beta, which was the laggard.
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