Megacaps Are Now S&P 500’s Curse as Smart Beta Gets Payback

  • Breadth improves as more U.S. stocks participate in rally
  • Equal-weighted index beats S&P 500 by most in three years

The world is turning upside-down for U.S. equities, with the biggest gains coming from a strategy that has done little of late but deliver losses to investors and taking over market leadership from large technology stocks.

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