Concentrated Leadership

The collective weight of the top five holdings in the S&P 500 has approached levels last seen in 2000. Concentration has become more prominent as five companies have accounted for nearly one-third of the S&P 500’s total return since 2017. While reallocating to an S&P 500 Equal-Weight product may alleviate concerns over holdings concentration, ACG discusses why investors should consider the dispersion in returns, lower average market cap, and higher expense ratios and turnover relative to passive products tracking the cap-weighted index.


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U.S. - China Technology Cold War

The recently signed “Phase One” trade deal has led to some optimism surrounding U.S. - China relations. That said, both countries are striving for technological dominance while reducing dependence on one another. ACG examines the emerging divide and how economic growth might be impacted in the near-term, as well as opportunities for investors.  

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Climate Change and Investment Implications

The World Economic Forum recently ranked risks associated with climate change the second biggest risk globally in terms of potential impact. The question for investors is: How does climate change impact my portfolio? ACG describes the environmental and economic impacts, as well as implications for investors.

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Growing Dispersion in Credit

Lower-rated credit has been a notable laggard year-to-date. While spreads and yields for higher quality issues continue to compress, spreads and yields for the lowest quality issues have increased. ACG examines the causes of this dispersion, opportunities, and factors to keep in mind.

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