Equal weighted making a comeback
As Bloomberg noted, the S&P 500 equal weighted index is trying to make a comeback after years of underperformance. The equal weighted index is on track to outperform the market cap weighted S&P 500 by more than 1.2% for 2 months in a row:
This is the first time this has happened in more than 7 years. When this happened in the past, the S&P 500 equal weighted index usually pushed higher over the next 3 months...
...whereas the S&P 500 market cap weighted index did not perform that well over the next 3 months:
As a result, the equal weighted S&P 500 usually outperformed the market cap weighted S&P 500 over the next 6+ months: