The table below (click to enlarge) breaks down the 3 S&P broad indices by their 10 economic sectors:
Despite the much higher returns among small stocks, the YTD differential is still negative.
- Energy has been very strong over the past month with the exception of large-caps.
- Materials have been strong across the board.
- Industrials had a strong month, but they still lag on the year.
- Consumer Discretionary has rebounded across all market caps, but it is actually the very strongest sector of all for the S&P 600.
- Consumer Staples remain under pressure
- Healthcare remains extremely disappointing (see my in-depth explanation)
- Financials saw very different behavior across market caps, with the big boys rocking and the smaller ones getting slammed. This is opposite what was happening from last summer through March.
- Tech was moderately better than the market as a whole last month and remains one of the healthiest sectors.
- Telecom Services is performing poorly.
- Utilities are most likely reflecting the rise in rates and the exodus of "safe-haven" money.
Disclosure: None
