U.S. equities ended Q2 with strength, with the S&P 500® posting a gain of 9%, despite inflation concerns and uncertainty over the future course of the Fed’s stimulus efforts. In a reversal from Q1, mid- and small-caps underperformed, with the S&P MidCap 400® and S&P SmallCap 600® up 4% and 5%, respectively. Volatility declined, with the VIX closing at 15.83.
All factors posted gains, with Momentum in the lead, after its disappointing performance in Q1. In another reversal, Growth outpaced Value.
All sectors except Utilities posted gains, with Real Estate in the lead, up 13%.
