Below is a chart comparing the performance of the S&P 500 to Bloomberg's World Stock Market index over the last 10 years. As shown, after a lot of ups, downs and ups, the two have performed pretty much right inline with each other. The S&P 500 is up 63.7% over the last 10 years, while the Bloomberg World index is up 62.1%.
During the bull market of the mid-2000s, the Bloomberg World index significantly outperformed the US. Emerging markets were all the rage back then, but they have lagged significantly over the last couple of years, allowing the US to play catch up.
Below is a table highlighting the percentage of total world stock market cap that the largest countries (by market cap) make up. For each country, we show where its % of world market cap currently stands as well as where it stood at the end of the mid-2000s bull market (10/9/07), at the start of the current bull market (3/9/09), and the end of 2012.
As shown, the US has really gained a lot of market cap share in 2013. At the end of 2012, the US made up 32.14% of total world market cap, and it has gained 3.77 percentage points this year to move up to 35.90%. Japan, France, Germany, Switzerland, Spain, Sweden and Italy are the other countries in the table that have gained share in 2013.
All four BRICs (Brazil, Russia, India, China) have lost share to other countries in 2013. Brazil has lost the most at -0.68 percentage points to leave it at just 1.6% of world market cap. Hong Kong has also lost share, but it remains the fourth largest stock market in the world. Japan ranks second at 7.42%, while the UK ranks third at 6.41%.