• Despite the ongoing pandemic, record inflation, and looming rate hikes, U.S. equities had a banner year, with the S&P 500® reaching 70 closing highs on its way to a 29% return. Mega-caps outperformed, with the S&P 500 Top 50 up 31%.
  • International performance was positive, with the S&P Developed Ex-U.S. BMI up 11%. Emerging markets managed to eke out a gain, with the S&P Emerging BMI up 1% despite large losses in the S&P China BMI, which makes up almost 40% of the benchmark’s weight.
  • All sectors posted gains in 2021, led by Energy, up a dramatic 55%, a stunning turnaround after its 34% loss in 2020.

 

December 2021 Market Review