{"id":11967,"date":"2021-09-01T07:15:07","date_gmt":"2021-09-01T13:15:07","guid":{"rendered":"https:\/\/fundamentalis.com\/?p=11967"},"modified":"2021-09-01T07:15:07","modified_gmt":"2021-09-01T13:15:07","slug":"mega-cap-stopped-being-momentun-exactly-one-year-ago","status":"publish","type":"post","link":"https:\/\/fundamentalis.com\/?p=11967","title":{"rendered":"Mega-cap Stopped Being Momentun Exactly One Year Ago"},"content":{"rendered":"<p><a href=\"https:\/\/fundamentalis.com\/wp-content\/uploads\/2021\/09\/megacapsince912083121.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-11968\" src=\"https:\/\/fundamentalis.com\/wp-content\/uploads\/2021\/09\/megacapsince912083121-300x223.png\" alt=\"\" width=\"300\" height=\"223\" srcset=\"https:\/\/fundamentalis.com\/wp-content\/uploads\/2021\/09\/megacapsince912083121-300x223.png 300w, https:\/\/fundamentalis.com\/wp-content\/uploads\/2021\/09\/megacapsince912083121-1024x763.png 1024w, https:\/\/fundamentalis.com\/wp-content\/uploads\/2021\/09\/megacapsince912083121-150x112.png 150w, https:\/\/fundamentalis.com\/wp-content\/uploads\/2021\/09\/megacapsince912083121-768x572.png 768w, https:\/\/fundamentalis.com\/wp-content\/uploads\/2021\/09\/megacapsince912083121.png 1145w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>It was exactly one year ago today &#8211; September 1, 2020, that mega-cap tech stocks stopped being momentum stocks within the SP 500, and the laggards in 2020 began to show progress.<\/p>\n<p>This table from YCharts shows the performance of the large-cap tech stocks since 9\/1\/20.<\/p>\n<p>Amazon and Apple are notable underperformers in the last 12 months.<\/p>\n<p>As of June 30th, 2021, the SP 500&#8217;s YTD total return was 15.25% versus the Nasdaq 100&#8217;s 13.24%, while as of August 31, &#8217;21, the SP 500 returned 21.5% while the QQQ&#8217;s have returned 21.39% YTD. (Performance data for downloading isn&#8217;t ready until tomorrow, so the YTD August 31 &#8217;21 data is from Morningstar.)<\/p>\n<p>Clients are long all of the above, with the biggest weights being Microsoft and Amazon.<\/p>\n<p>Thanks for reading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It was exactly one year ago today &#8211; September 1, 2020, that mega-cap tech stocks stopped being momentum stocks within&hellip;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[273,116],"tags":[],"class_list":["post-11967","post","type-post","status-publish","format-standard","hentry","category-momentum","category-morningstar-data"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/posts\/11967","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11967"}],"version-history":[{"count":2,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/posts\/11967\/revisions"}],"predecessor-version":[{"id":11970,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/posts\/11967\/revisions\/11970"}],"wp:attachment":[{"href":"https:\/\/fundamentalis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11967"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11967"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}