ETFs
The best and worst active funds and ETFs for the first half of 2024
The stock market in the first half of 2024 is largely a continuation of 2023, with a few very big tech names responsible for the index’s 15% return over the six-month period
Five of the “Magnificent Seven” stocks beat the index, with Nvidia closing the half-year up 149.5% and Meta up 42.7%. One of the seven, You’re hereturned out to be anything but stellar, ending the half-year in the red with a loss of 20.4%. That’s much better than it could have been after the stock gained 12.6% in the second quarter of the year.
The contribution of large-cap technology stocks to the performance of the broader market is evident when comparing the S&P 500’s 15% return to that of the Invesco S&P 500 Equal Weight ETFThe 4.97% yield is significantly more anemic. Even though Tesla is down, the “Magnificent Seven” now represent nearly 30% of the market-cap-weighted index.