AT the end of March 2021, the S&P 500 is up 6% for the year and the quarter whereas the Nasdaq 100 is up less than 2%.

Small and Mid Caps have greatly outperformed Big Caps: +18.2% and +13.4% respectively vs 6% for the SPY.

With inflation expectations moving quickly higher and above the Fed 2% Target, Q1 2021 experienced a large bonds sell-off with the U.S. 10 year moving from 1% to 1.7%.

Retail, Energy, Banks, Steel… have outperformed the overall market. They benefited from the reopening of the U.S. Economy, the reflation trade, the steepening of the yield curve, the fiscal stimulus…

Rotation, dispersion, alpha generation were keys in Q1 2021.

Commodities ex Risk-off Trade (Gold or Silver) have experienced great returns.

In Q1 2021, Value outpeformed Growth by more than 10%.

Price Action is always very important and knowing what has underperformed or underperformed on different timeframes help massively.

If you would like to get an excel spreadsheet with the data for the S&P 500 sectors at the end of Q1 2021, send an email to: greg@duponttrading.com

Find below some of the performances for Q1 2021:

Countries

Asset Classes

Industries

Commodities

Currencies

Investment Styles

I hope it helps,

Gregoire