{"id":124306,"date":"2025-08-08T18:54:51","date_gmt":"2025-08-08T22:54:51","guid":{"rendered":"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/defensive-tilt-weighs-on-bmvp-in-fast-stock-market-rebound\/"},"modified":"2025-08-12T18:21:49","modified_gmt":"2025-08-12T22:21:49","slug":"defensive-tilt-weighs-on-bmvp-in-fast-stock-market-rebound","status":"publish","type":[3762],"link":"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/defensive-tilt-weighs-on-bmvp-in-fast-stock-market-rebound\/","title":{"rendered":"Defensive tilt weighs on BMVP in fast stock market rebound"},"content":{"rendered":"<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6a09a51d24b82'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-7\"\n    style=\"\"\n    >\n    <p><div\n    class=\"bbg-spacer bbg-spacer--lg\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p class=\"small\"><strong><span style=\"font-size: 14px; letter-spacing: 1px; color: #0062dd;\">ARTICLE<\/span><\/strong><\/p>\n\n<\/div>\n<div\n    class=\"bbg-spacer bbg-spacer--sm\"\n    >\n<\/div>    <h1 class=\"bbg-metadata bbg-metadata--title\">Defensive tilt weighs on BMVP in fast stock market rebound<\/h1>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 50px !important\"\n    >\n<\/div>    <ul class=\"bbg-categories_list\">\n                    <li>\n                <a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/category\/markets\/\" rel=\"category tag\">\n                    Markets\n                <\/a>\n            <\/li>\n                    <li>\n                <a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/category\/trading\/\" rel=\"category tag\">\n                    Trading\n                <\/a>\n            <\/li>\n            <\/ul>\n<\/p>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-5\"\n    style=\"\"\n    >\n    <div id=\"\" class=\"wpb_content_element bbg-single-image align-left\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"800\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/365376363-2.jpeg\" class=\"bbg-single-image__image attachment-full\" alt=\"Stock market movements\" title=\"Stock market movements\" \/>\n        \n            <\/figure>\n<\/div>\n\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6a09a51d2f413'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-6 bbg-column--m-width-6\"\n    style=\"\"\n    >\n    <p>    <p class=\"bbg-metadata bbg-metadata--date\">August 8, 2025<\/p>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><strong>Bloomberg Intelligence<\/strong><\/p>\n\n<\/div>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2 bbg-column--valign-middle bbg-column--m-width-2 bbg-column--s-padding-right-2\"\n    style=\"\"\n    >\n    <div class=\"bb-tts\"\n\tdata-selector=\"main\"\n\tdata-label=\"Speak this page\"\n\tdata-custom-play=\"Play\"\n\tdata-custom-pause=\"Pause\"\n\tdata-custom-stop=\"Stop\"\n\tdata-overlay=\"false\"\n\tdata-invert=\"false\"\n\tdata-no-time=\"false\"\n\tdata-no-button-text=\"false\"\n\tdata-one-button=\"true\"\n\tdata-one-style=\"true\"\n\tdata-hide-stop=\"true\"\n\tdata-voice=\"Gordon\"\n\tdata-pitch=\"1\"\n\tdata-speed=\"1\"\n\tdata-align=\"flex-start\"\n>\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-compact bbg-row--full-bg-bleed\" data-anchor='row-6a09a51d31a3f'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <p><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><i>This article was written by Bloomberg Intelligence Quantitative Equity Strategist Christopher Cain and Director of Equity Strategy, Chief Equity Strategist Gina Martin Adams. It appeared first on the Bloomberg Terminal.<\/i><\/p>\n<p>Bloomberg&#8217;s large-cap BMVP portfolio delivered positive returns in 2Q but trailed its benchmarks, held back by its defensive tilt during one of the fastest market rebounds on record. The primary drag came from its exposure to low-volatility stocks, which lagged as investors rotated into higher-risk names. Despite near-term underperformance, BMVP&#8217;s long-term record remains intact, with higher annualized returns and lower risk than both equal and market cap-weighted benchmarks &#8212; underscoring the value of a disciplined, multifactor approach.<\/p>\n<h2>Large-cap BMVP underperformed benchmarks in 2Q<\/h2>\n<p>Bloomberg&#8217;s large-cap BMVP portfolio underperformed its benchmarks in 2Q, weighed down by its defensive tilt &#8212; particularly the low-volatility component &#8212; during the fastest market rebound after a 15% drawdown on record. The BMVP portfolio returned 1.82% on the quarter, trailing the Bloomberg 500 equal-weight benchmark&#8217;s 5.46% gain. Low volatility was the weakest contributing factor, with the sector-neutralized Q1 cohort declining 58 bps on the quarter. Despite 2Q softness, the BMVP strategy maintains higher long-term returns (10.71% annualized) than both the equal-weight (7.87%) and market-cap-weight (8.82%) benchmarks, along with lower volatility and drawdowns.<\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1836\" height=\"1248\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-1-BMVP-Trails-in-2Q-But-Maintains-Long-Term-Edge.png\" class=\"bbg-single-image__image attachment-full\" alt=\"figure 1 - BMVP Trails in 2Q But Maintains Long-Term Edge\" title=\"figure-1-BMVP-Trails-in-2Q-But-Maintains-Long-Term-Edge\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-1-BMVP-Trails-in-2Q-But-Maintains-Long-Term-Edge.png 1836w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-1-BMVP-Trails-in-2Q-But-Maintains-Long-Term-Edge.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-1-BMVP-Trails-in-2Q-But-Maintains-Long-Term-Edge.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-1-BMVP-Trails-in-2Q-But-Maintains-Long-Term-Edge.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-1-BMVP-Trails-in-2Q-But-Maintains-Long-Term-Edge.png 1536w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-1-BMVP-Trails-in-2Q-But-Maintains-Long-Term-Edge.png 159w\" sizes=\"auto, (max-width: 1836px) 100vw, 1836px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2>Low-volatility drag explains 2Q BMVP lag<\/h2>\n<p>A breakdown of individual factor performance helps explain Bloomberg&#8217;s large-cap BMVP portfolio underperformance in 2Q. Two of the long-only Q1 factor legs outpaced the S&amp;P 500 Equal Weight benchmark (SPW), including high momentum (11.15%) and high BI profitability (7.38%). BI value trailed slightly, returning 5.42%, while low volatility was the clear drag, declining 0.58% for the quarter. As investors rotated out of low-risk names during the sharp post-April 2 rebound, lowvolatility exposure weighed heavily on BMVP&#8217;s relative performance.<\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1830\" height=\"1384\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-2-Momentum-Profitability-Lead-Low-Vol-Weighs.png\" class=\"bbg-single-image__image attachment-full\" alt=\"figure 2 - Momentum-Profitability Lead-Low Vol Weighs\" title=\"figure-2-Momentum-Profitability-Lead-Low-Vol-Weighs\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-2-Momentum-Profitability-Lead-Low-Vol-Weighs.png 1830w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-2-Momentum-Profitability-Lead-Low-Vol-Weighs.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-2-Momentum-Profitability-Lead-Low-Vol-Weighs.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-2-Momentum-Profitability-Lead-Low-Vol-Weighs.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-2-Momentum-Profitability-Lead-Low-Vol-Weighs.png 1536w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-2-Momentum-Profitability-Lead-Low-Vol-Weighs.png 143w\" sizes=\"auto, (max-width: 1830px) 100vw, 1830px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--margin-top-compact bbg-row--margin-bottom-compact bbg-row--full-bg-bleed\" data-anchor='row-6a09a51d35862'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <div class=\"bbg-interstitial\" aria-label=\"interstitial\" tabindex=\"0\">\n\t<style>\n\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\tbackground: url(https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Interstitial_bg.png);\n\t\t\t\tbackground-repeat: no-repeat;\n\t\t\t\tbackground-position: center center;\n\t\t\t\tbackground-size: cover;\n\t\t\tpadding: 104px;\n\t\t\t\n\t\t\t\n\t\t}\n\t\t.bbg-interstitial #card_1.bbg-card_hasCta .bbg-card__content, .bbg-interstitial #card_1.bbg-card_hasCta .bbg-card__content p{\n\t\t\tcolor:white;\n\t\t}\n\t\t@media (max-width: 768px) {\n\t\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 32px;\n\t\t\t}\n\t\t}\n\t\t@media (max-width: 480px) {\n\t\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 18px;\n\t\t\t}\n\t\t}\n\t<\/style>\n\t<div class=\"wpb_content_element bbg-card  bbg-card-dark bbg-card_hasCta has_interstitial\" id=\"card_1\" data-card_type=\"no_image\">\n  \n  \n  <div class=\"bbg-card__innerwrapper\">\n    <div class=\"bbg-card__content\">\n      \n      \n                      <h3 class=\"bbg-card__title\">Tailored indices insights and invitations in your inbox<\/h3>\n      \n              <div class=\"bbg-card__wysiwyg bb-wysiwyg\"><p>Sign up<\/p>\n<\/div>\n          <\/div>\n\n          \n<div\n  id=\"cta_677554842575530853\"\n  class=\"wpb_content_element bbg-cta icon icon-arrow\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p right\">\n      <a\n        class=\"bbg-cta-link link interstitial_cta\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/explore\/indices-insights-tailored-to-your-interests\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"\"\n                role=\"button\"\n        aria-label=\"Learn more\"\n        >\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n\n      <\/div>\n\n  <\/div>\n\n<\/div>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6a09a51d3e7fa'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2>Low volatility and profitability lead BMVP factor profile<\/h2>\n<p>A cross-factor analysis of Bloomberg&#8217;s large-cap BMVP portfolio reveals strong exposures to low volatility and profitability, with minimal tilt toward value. The largest loading is to low volatility, at minus 0.62 sigma relative to the S&amp;P 500 equal weight index, followed by return-on-equity (ROE) at positive 0.56 sigma. Momentum shows a modest positive tilt at 0.28 sigma. Interestingly, the portfolio&#8217;s value exposure is near neutral-despite being a model input. This reflects the fact that high momentum, high profitability and low volatility stocks carry elevated valuations, effectively offsetting the model&#8217;s value component.<\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1840\" height=\"1348\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-3-Value-Exposure-Muted-Despite-Model-Input.png\" class=\"bbg-single-image__image attachment-full\" alt=\"figure 3 - Value Exposure Muted Despite Model Input\" title=\"figure-3-Value-Exposure-Muted-Despite-Model-Input\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-3-Value-Exposure-Muted-Despite-Model-Input.png 1840w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-3-Value-Exposure-Muted-Despite-Model-Input.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-3-Value-Exposure-Muted-Despite-Model-Input.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-3-Value-Exposure-Muted-Despite-Model-Input.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-3-Value-Exposure-Muted-Despite-Model-Input.png 1536w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-3-Value-Exposure-Muted-Despite-Model-Input.png 147w\" sizes=\"auto, (max-width: 1840px) 100vw, 1840px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2>Synchrony, Cardinal Health, IBM lead BMVP portfolio in 2Q<\/h2>\n<p>Top contributors to Bloomberg&#8217;s large-cap BMVP portfolio in 2Q included Synchrony Financial, which returned 26.77%, and perennial factor standout Cardinal Health (CAH), with a 22.39% gain. Cardinal has been a factor star for some time, and currently ranks in the 99th percentile in BI&#8217;s multifactor model, showing especially strong scores in BI momentum (100th) and BI low volatility (94th). IBM also delivered strong performance, rising 19.35% for the quarter.<\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1832\" height=\"1228\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-4-Top-Performers-Boost-BMVP-Despite-Headwinds.png\" class=\"bbg-single-image__image attachment-full\" alt=\"figure 4 - Top Performers Boost BMVP Despite Headwinds\" title=\"figure-4-Top-Performers-Boost-BMVP-Despite-Headwinds\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-4-Top-Performers-Boost-BMVP-Despite-Headwinds.png 1832w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-4-Top-Performers-Boost-BMVP-Despite-Headwinds.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-4-Top-Performers-Boost-BMVP-Despite-Headwinds.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-4-Top-Performers-Boost-BMVP-Despite-Headwinds.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-4-Top-Performers-Boost-BMVP-Despite-Headwinds.png 1536w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-4-Top-Performers-Boost-BMVP-Despite-Headwinds.png 161w\" sizes=\"auto, (max-width: 1832px) 100vw, 1832px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2>Top-ranked MVP stocks: TJX, CF Industries, Cencora<\/h2>\n<p>TJX, CF Industries and Cencora are all top-rated names in BI&#8217;s &#8220;MVP&#8221; multifactor model, ranking in the 100th multifactor percentile of the Bloomberg 500 index. TJX&#8217;s top ranking is driven by exceptional low-volatility (100th percentile) and profitability (92nd) scores. CF Industries combines strong momentum (92nd) with low volatility (96th). Cencora, a consistent factor standout, pairs a 100th percentile low-volatility score with 92nd percentile ranks in both momentum and profitability.<\/p>\n<p>Click our visual or follow the link on the left for fully BI factor scores across the Bloomberg 500 universe. Factor scores are as of June 30. BI&#8217;s &#8220;MVP&#8221; multifactor equally combines BI momentum, value, low-volatility and profitability scores.<\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1828\" height=\"1098\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-5-TJX-CF-Cencora-Lead-BI-Multifactor-Rankings.png\" class=\"bbg-single-image__image attachment-full\" alt=\"figure 5 - TJX-CF-Cencora Lead BI Multifactor Rankings\" title=\"figure-5-TJX-CF-Cencora-Lead-BI-Multifactor-Rankings\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-5-TJX-CF-Cencora-Lead-BI-Multifactor-Rankings.png 1828w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-5-TJX-CF-Cencora-Lead-BI-Multifactor-Rankings.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-5-TJX-CF-Cencora-Lead-BI-Multifactor-Rankings.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-5-TJX-CF-Cencora-Lead-BI-Multifactor-Rankings.png 100w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-5-TJX-CF-Cencora-Lead-BI-Multifactor-Rankings.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-5-TJX-CF-Cencora-Lead-BI-Multifactor-Rankings.png 1536w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-5-TJX-CF-Cencora-Lead-BI-Multifactor-Rankings.png 180w\" sizes=\"auto, (max-width: 1828px) 100vw, 1828px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2>Trending value: The intersection of value and momentum<\/h2>\n<p>CVS, Exelon, and Ventas are standout examples of &#8220;trending value&#8221; stocks &#8212; Bloomberg 500 names that combine inexpensive valuations with strong recent performance. CVS ranks in the 99th percentile on BI&#8217;s value factor and the 92nd on momentum. Exelon shows a 93rd percentile momentum score alongside a 96th percentile value rank, with a price-to-sales ratio of just 1.85x vs. the 3.21x utilities sector average. REIT Ventas, with a 93rd percentile momentum score and an 83rd percentile value rank, has returned 28.91% over the past year vs. 9.92% for the real estate sector.<\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1828\" height=\"1216\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-6-Strong-Momentum-Meets-Deep-Value-in-Key-Names.png\" class=\"bbg-single-image__image attachment-full\" alt=\"figure 6 - Strong Momentum Meets Deep Value in Key Names\" title=\"figure-6-Strong-Momentum-Meets-Deep-Value-in-Key-Names\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-6-Strong-Momentum-Meets-Deep-Value-in-Key-Names.png 1828w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-6-Strong-Momentum-Meets-Deep-Value-in-Key-Names.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-6-Strong-Momentum-Meets-Deep-Value-in-Key-Names.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-6-Strong-Momentum-Meets-Deep-Value-in-Key-Names.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-6-Strong-Momentum-Meets-Deep-Value-in-Key-Names.png 1536w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/figure-6-Strong-Momentum-Meets-Deep-Value-in-Key-Names.png 162w\" sizes=\"auto, (max-width: 1828px) 100vw, 1828px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none bbg-row--full-bg-bleed\" data-anchor='row-6a09a51d45315'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div class=\"bbg-accordion transparent\">\n\t<input type=\"checkbox\"  id=\"bbg-accordion-toggle-6a09a51d46437\">\n\t<div class=\"bbg-accordion-parent\" data-accordion-toggle aria-expanded=\"false\">\n\t\t<label class=\"bbg-accordion-label\" for=\"bbg-accordion-toggle-6a09a51d46437\">\n\t\t\t\t<h5 class=\"bbg-accordion-title\" data-label=\"Disclaimer\">\n\t\tDisclaimer\n\t<\/h5>\n\n\t\t\t\t\t<\/label>\n\t<\/div>\n\t<div class=\"bbg-accordion-content\">\n\t\t<div class=\"bb-wysiwyg\">\n\t<p style=\"font-size: 16px !important; line-height: 24px;\">The data included in these materials are for illustrative purposes only. The BLOOMBERG TERMINAL service and Bloomberg data products (the \u201cServices\u201d) are owned and distributed by Bloomberg Finance L.P. (\u201cBFLP\u201d) except (i) in Argentina, Australia and certain jurisdictions in the Pacific Islands, Bermuda, China, India, Japan, Korea and New Zealand, where Bloomberg L.P. and its subsidiaries (\u201cBLP\u201d) distribute these products, and (ii) in Singapore and the jurisdictions serviced by Bloomberg\u2019s Singapore office, where a subsidiary of BFLP distributes these products. BLP provides BFLP and its subsidiaries with global marketing and operational support and service. Certain features, functions, products and services are available only to sophisticated investors and only where permitted. BFLP, BLP and their affiliates do not guarantee the accuracy of prices or other information in the Services. Nothing in the Services shall constitute or be construed as an offering of financial instruments by BFLP, BLP or their affiliates, or as investment advice or recommendations by BFLP, BLP or their affiliates of an investment strategy or whether or not to \u201cbuy\u201d, \u201csell\u201d or \u201chold\u201d an investment. Information available via the Services should not be considered as information sufficient upon which to base an investment decision. The following are trademarks and service marks of BFLP, a Delaware limited partnership, or its subsidiaries: BLOOMBERG, BLOOMBERG ANYWHERE, BLOOMBERG MARKETS, BLOOMBERG NEWS, BLOOMBERG PROFESSIONAL, BLOOMBERG TERMINAL and BLOOMBERG.COM. Absence of any trademark or service mark from this list does not waive Bloomberg\u2019s intellectual property rights in that name, mark or logo. All rights reserved. \u00a9 2025 Bloomberg.<\/p>\n\n<\/div>\n\n\n\t<\/div>\n<\/div>\n\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <style>section[data-anchor=row-6a09a51d47738]::before {\n\t\t\t\tbackground-color: #f4f4f9;\n\t\t\t}<\/style>\n    <section class=\"bbg-row bg--custom-color  bg--f4f4f9 text--black bbg-row--full-bg-bleed\" data-anchor='row-6a09a51d47738'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h3>Related Content<\/h3>\n\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-4 bbg-column--halign-right\"\n    style=\"\"\n    >\n    \n<div\n  id=\"cta_1833667989809512045\"\n  class=\"wpb_content_element bbg-cta icon icon-arrow\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p right\">\n      <a\n        class=\"bbg-cta-link link\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/insights\/tag\/indices\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"View all\"\n        >\n                      View all\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <script>\n    window.feed = window.feed || {};\n    window.feed['6a09a51d49377'] = {\"config\":{\"uuid\":\"\",\"title\":\"\",\"filter_label\":\"\",\"post_type\":\"post\",\"order_by\":\"date\",\"direction\":\"desc\",\"show_date\":\"no\",\"show_excerpt\":\"no\",\"display\":\"limit\",\"filter\":\"OR\",\"max_items\":\"3\",\"skip_cache\":\"no\",\"feed_style\":\"grid\",\"published_date\":\"\",\"show_cta\":\"\",\"featured_image\":\"yes\",\"el_class\":\"\",\"terms_post\":\"post_tag__indices\",\"terms_page\":\"\",\"terms_attachment\":\"\",\"terms_webinar\":\"\",\"terms_bbmegamenu\":\"\",\"terms_directory\":\"\",\"terms_datalayer\":\"\",\"terms_templatera\":\"\",\"terms_bbg-fourofour\":\"\",\"terms_reusable\":\"\",\"terms_cookie_items\":\"\",\"terms_bbl_email_subscriber\":\"\",\"terms_dynamic_table_ticker\":\"\",\"terms_bfix\":\"\",\"terms_quicklinks\":\"\",\"terms_interstitial\":\"\",\"terms_slide\":\"\",\"terms_gated_content_form\":\"\",\"terms_site_alert\":\"\",\"terms_country\":\"\",\"terms_region\":\"\",\"terms\":\"post_tag__indices\"},\"cpt\":{\"name\":\"post\",\"label\":\"Posts\",\"labels\":{\"name\":\"Posts\",\"singular_name\":\"Post\",\"add_new\":\"Add New\",\"add_new_item\":\"Add New Post\",\"edit_item\":\"Edit Post\",\"new_item\":\"New Post\",\"view_item\":\"View Post\",\"view_items\":\"View Posts\",\"search_items\":\"Search Posts\",\"not_found\":\"No posts found.\",\"not_found_in_trash\":\"No posts found in Trash.\",\"parent_item_colon\":null,\"all_items\":\"All Posts\",\"archives\":\"Post Archives\",\"attributes\":\"Post Attributes\",\"insert_into_item\":\"Insert into post\",\"uploaded_to_this_item\":\"Uploaded to this post\",\"featured_image\":\"Featured image\",\"set_featured_image\":\"Set featured image\",\"remove_featured_image\":\"Remove featured image\",\"use_featured_image\":\"Use as featured image\",\"filter_items_list\":\"Filter posts list\",\"filter_by_date\":\"Filter by date\",\"items_list_navigation\":\"Posts list navigation\",\"items_list\":\"Posts list\",\"item_published\":\"Post published.\",\"item_published_privately\":\"Post published privately.\",\"item_reverted_to_draft\":\"Post reverted to draft.\",\"item_trashed\":\"Post trashed.\",\"item_scheduled\":\"Post scheduled.\",\"item_updated\":\"Post updated.\",\"item_link\":\"Post Link\",\"item_link_description\":\"A link to a post.\",\"menu_name\":\"Posts\",\"name_admin_bar\":\"Post\"},\"description\":\"\",\"public\":true,\"hierarchical\":false,\"exclude_from_search\":false,\"publicly_queryable\":true,\"show_ui\":true,\"show_in_menu\":true,\"show_in_nav_menus\":true,\"show_in_admin_bar\":true,\"menu_position\":5,\"menu_icon\":\"dashicons-admin-post\",\"capability_type\":\"post\",\"map_meta_cap\":true,\"register_meta_box_cb\":null,\"taxonomies\":[],\"has_archive\":false,\"query_var\":false,\"can_export\":true,\"delete_with_user\":true,\"template\":[],\"template_lock\":false,\"_builtin\":true,\"_edit_link\":\"post.php?post=%d\",\"cap\":{\"edit_post\":\"edit_post\",\"read_post\":\"read_post\",\"delete_post\":\"delete_post\",\"edit_posts\":\"edit_posts\",\"edit_others_posts\":\"edit_others_posts\",\"delete_posts\":\"delete_posts\",\"publish_posts\":\"publish_posts\",\"read_private_posts\":\"read_private_posts\",\"read\":\"read\",\"delete_private_posts\":\"delete_private_posts\",\"delete_published_posts\":\"delete_published_posts\",\"delete_others_posts\":\"delete_others_posts\",\"edit_private_posts\":\"edit_private_posts\",\"edit_published_posts\":\"edit_published_posts\",\"create_posts\":\"edit_posts\"},\"rewrite\":false,\"show_in_rest\":true,\"rest_base\":\"posts\",\"rest_namespace\":\"wp\\\/v2\",\"rest_controller_class\":\"WP_REST_Posts_Controller\",\"rest_controller\":{},\"revisions_rest_controller_class\":false,\"revisions_rest_controller\":{},\"autosave_rest_controller_class\":false,\"autosave_rest_controller\":{},\"late_route_registration\":false},\"taxonomies\":[{\"taxonomy\":\"post_tag\",\"terms\":[{\"term_id\":547,\"name\":\"Indices\",\"slug\":\"indices\",\"term_group\":0,\"term_taxonomy_id\":547,\"taxonomy\":\"post_tag\",\"description\":\"\",\"parent\":0,\"count\":200,\"filter\":\"raw\"}]}],\"excluded_taxonomies\":{\"tags\":[]},\"post_id\":124306};\n<\/script>\n<div class=\"feed\" data-id=\"6a09a51d49377\"><\/div>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none bbg-row--margin-top-normal bbg-row--margin-bottom-normal bbg-row--full-bg-bleed\" data-anchor='row-6a09a51d4a0ec'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <div class=\"bbg-interstitial\" aria-label=\"interstitial\" tabindex=\"0\">\n\t<style>\n\t\t.bbg-interstitial #card_2.bbg-card_hasCta{\n\t\t\tbackground:#e6f3ff;\n\t\t\tpadding: 104px;\n\t\t\t\n\t\t\t\n\t\t}\n\t\t.bbg-interstitial #card_2.bbg-card_hasCta .bbg-card__content, .bbg-interstitial #card_2.bbg-card_hasCta .bbg-card__content p{\n\t\t\tcolor:black;\n\t\t}\n\t\t@media (max-width: 768px) {\n\t\t\t.bbg-interstitial #card_2.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 32px;\n\t\t\t}\n\t\t}\n\t\t@media (max-width: 480px) {\n\t\t\t.bbg-interstitial #card_2.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 18px;\n\t\t\t}\n\t\t}\n\t<\/style>\n\t<div class=\"wpb_content_element bbg-card  bbg-card-dark bbg-card_hasCta has_interstitial\" id=\"card_2\" data-card_type=\"no_image\">\n  \n  \n  <div class=\"bbg-card__innerwrapper\">\n    <div class=\"bbg-card__content\">\n      \n      \n                      <h3 class=\"bbg-card__title\">Get insights delivered to your inbox<\/h3>\n      \n              <div class=\"bbg-card__wysiwyg bb-wysiwyg\"><p>Sign up for Bloomberg Professional Services newsletter<\/p>\n<\/div>\n          <\/div>\n\n          \n<div\n  id=\"cta_1506653670500444868\"\n  class=\"wpb_content_element bbg-cta icon icon-arrow\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p right\">\n      <a\n        class=\"bbg-cta-link link interstitial_cta\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/insights\/newsletter\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"\"\n                role=\"button\"\n        aria-label=\"Learn more\"\n        >\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n\n      <\/div>\n\n  <\/div>\n\n<\/div>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg&#8217;s large-cap BMVP portfolio delivered positive returns in 2Q but trailed its benchmarks, held back by its defensive tilt during one of the fastest market rebounds on record.<\/p>\n","protected":false},"author":1933,"featured_media":104986,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"template-article.php","format":"standard","meta":{"_yoast_wpseo_primary_category":"453","footnotes":""},"categories":[453,444],"tags":[565,454,547],"series":[],"class_list":["post-124306","post","type-post","status-publish","format-standard","hentry","category-markets","category-trading","tag-bloomberg-intelligence","tag-equities","tag-indices","type-article"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.11 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Defensive tilt weighs on BMVP in fast stock market rebound | Insights | Bloomberg Professional Services<\/title>\n<meta name=\"description\" content=\"Bloomberg&#039;s large-cap BMVP portfolio delivered positive returns in 2Q but trailed its benchmarks, held back by its defensive tilt during one of the fastest market rebounds on record.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/defensive-tilt-weighs-on-bmvp-in-fast-stock-market-rebound\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Defensive tilt weighs on BMVP in fast stock market rebound | Insights | Bloomberg Professional Services\" \/>\n<meta property=\"og:description\" content=\"Bloomberg&#039;s large-cap BMVP portfolio delivered positive returns in 2Q but trailed its benchmarks, held back by its defensive tilt during one of the fastest market rebounds on record.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/defensive-tilt-weighs-on-bmvp-in-fast-stock-market-rebound\/\" \/>\n<meta property=\"og:site_name\" content=\"Bloomberg Professional Services\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/bloomberglp\" \/>\n<meta property=\"article:published_time\" content=\"2025-08-08T22:54:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-08-12T22:21:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2F365376363-2.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"mvannucci2\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&type=webp&url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/365376363-2-800x533.jpeg\" \/>\n<meta name=\"twitter:creator\" content=\"@theterminal\" \/>\n<meta name=\"twitter:site\" content=\"@theterminal\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mvannucci2\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/defensive-tilt-weighs-on-bmvp-in-fast-stock-market-rebound\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/defensive-tilt-weighs-on-bmvp-in-fast-stock-market-rebound\/\"},\"author\":{\"name\":\"mvannucci2\",\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#\/schema\/person\/9392da8fa760e7387613a2b07459b554\"},\"headline\":\"Defensive tilt weighs on BMVP in fast stock market rebound\",\"datePublished\":\"2025-08-08T22:54:51+00:00\",\"dateModified\":\"2025-08-12T22:21:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/defensive-tilt-weighs-on-bmvp-in-fast-stock-market-rebound\/\"},\"wordCount\":\"1373\",\"publisher\":{\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#organization\"},\"keywords\":[\"Bloomberg Intelligence\",\"Equities\",\"Indices\"],\"articleSection\":[\"Markets\",\"Trading\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/defensive-tilt-weighs-on-bmvp-in-fast-stock-market-rebound\/\",\"url\":\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/defensive-tilt-weighs-on-bmvp-in-fast-stock-market-rebound\/\",\"name\":\"Defensive tilt weighs on BMVP in fast stock market rebound | Insights | Bloomberg Professional Services\",\"isPartOf\":{\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#website\"},\"datePublished\":\"2025-08-08T22:54:51+00:00\",\"dateModified\":\"2025-08-12T22:21:49+00:00\",\"description\":\"Bloomberg's large-cap BMVP portfolio delivered positive returns in 2Q but trailed its benchmarks, held back by its defensive tilt during one of the fastest market rebounds on record.\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/defensive-tilt-weighs-on-bmvp-in-fast-stock-market-rebound\/\"]}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#website\",\"url\":\"https:\/\/www.bloomberg.com\/professional\/\",\"name\":\"Bloomberg Professional Services\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.bloomberg.com\/professional\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#organization\",\"name\":\"Bloomberg Professional Services\",\"url\":\"https:\/\/www.bloomberg.com\/professional\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2Flogo.png\",\"contentUrl\":\"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2Flogo.png\",\"width\":\"512\",\"height\":\"103\",\"caption\":\"Bloomberg Professional Services\"},\"image\":{\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.instagram.com\/bloomberg\/\",\"https:\/\/www.linkedin.com\/showcase\/bloomberg-professional-service\/\",\"https:\/\/www.facebook.com\/bloomberglp\",\"https:\/\/twitter.com\/theterminal\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#\/schema\/person\/9392da8fa760e7387613a2b07459b554\",\"name\":\"Bloomberg Professional Services\",\"url\":\"https:\/\/www.bloomberg.com\/professional\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Defensive tilt weighs on BMVP in fast stock market rebound | Insights | Bloomberg Professional Services","description":"Bloomberg's large-cap BMVP portfolio delivered positive returns in 2Q but trailed its benchmarks, held back by its defensive tilt during one of the fastest market rebounds on record.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/defensive-tilt-weighs-on-bmvp-in-fast-stock-market-rebound\/","og_locale":"en_US","og_type":"article","og_title":"Defensive tilt weighs on BMVP in fast stock market rebound | Insights | Bloomberg Professional Services","og_description":"Bloomberg's large-cap BMVP portfolio delivered positive returns in 2Q but trailed its benchmarks, held back by its defensive tilt during one of the fastest market rebounds on record.","og_url":"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/defensive-tilt-weighs-on-bmvp-in-fast-stock-market-rebound\/","og_site_name":"Bloomberg Professional Services","article_publisher":"https:\/\/www.facebook.com\/bloomberglp","article_published_time":"2025-08-08T22:54:51+00:00","article_modified_time":"2025-08-12T22:21:49+00:00","og_image":[{"width":1200,"height":800,"url":"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2F365376363-2.jpeg","type":"image\/jpeg"}],"author":"mvannucci2","twitter_card":"summary_large_image","twitter_image":"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&type=webp&url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/365376363-2-800x533.jpeg","twitter_creator":"@theterminal","twitter_site":"@theterminal","twitter_misc":{"Written by":"mvannucci2","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/defensive-tilt-weighs-on-bmvp-in-fast-stock-market-rebound\/#article","isPartOf":{"@id":"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/defensive-tilt-weighs-on-bmvp-in-fast-stock-market-rebound\/"},"author":{"name":"mvannucci2","@id":"https:\/\/www.bloomberg.com\/professional\/#\/schema\/person\/9392da8fa760e7387613a2b07459b554"},"headline":"Defensive tilt weighs on BMVP in fast stock market rebound","datePublished":"2025-08-08T22:54:51+00:00","dateModified":"2025-08-12T22:21:49+00:00","mainEntityOfPage":{"@id":"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/defensive-tilt-weighs-on-bmvp-in-fast-stock-market-rebound\/"},"wordCount":"1373","publisher":{"@id":"https:\/\/www.bloomberg.com\/professional\/#organization"},"keywords":["Bloomberg Intelligence","Equities","Indices"],"articleSection":["Markets","Trading"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/defensive-tilt-weighs-on-bmvp-in-fast-stock-market-rebound\/","url":"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/defensive-tilt-weighs-on-bmvp-in-fast-stock-market-rebound\/","name":"Defensive tilt weighs on BMVP in fast stock market rebound | Insights | Bloomberg Professional Services","isPartOf":{"@id":"https:\/\/www.bloomberg.com\/professional\/#website"},"datePublished":"2025-08-08T22:54:51+00:00","dateModified":"2025-08-12T22:21:49+00:00","description":"Bloomberg's large-cap BMVP portfolio delivered positive returns in 2Q but trailed its benchmarks, held back by its defensive tilt during one of the fastest market rebounds on record.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.bloomberg.com\/professional\/insights\/markets\/defensive-tilt-weighs-on-bmvp-in-fast-stock-market-rebound\/"]}]},{"@type":"WebSite","@id":"https:\/\/www.bloomberg.com\/professional\/#website","url":"https:\/\/www.bloomberg.com\/professional\/","name":"Bloomberg Professional Services","description":"","publisher":{"@id":"https:\/\/www.bloomberg.com\/professional\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.bloomberg.com\/professional\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.bloomberg.com\/professional\/#organization","name":"Bloomberg Professional Services","url":"https:\/\/www.bloomberg.com\/professional\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.bloomberg.com\/professional\/#\/schema\/logo\/image\/","url":"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2Flogo.png","contentUrl":"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2Flogo.png","width":"512","height":"103","caption":"Bloomberg Professional Services"},"image":{"@id":"https:\/\/www.bloomberg.com\/professional\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.instagram.com\/bloomberg\/","https:\/\/www.linkedin.com\/showcase\/bloomberg-professional-service\/","https:\/\/www.facebook.com\/bloomberglp","https:\/\/twitter.com\/theterminal"]},{"@type":"Person","@id":"https:\/\/www.bloomberg.com\/professional\/#\/schema\/person\/9392da8fa760e7387613a2b07459b554","name":"Bloomberg Professional Services","url":"https:\/\/www.bloomberg.com\/professional"}]}},"_links":{"self":[{"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/posts\/124306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/users\/1933"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/comments?post=124306"}],"version-history":[{"count":10,"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/posts\/124306\/revisions"}],"predecessor-version":[{"id":124404,"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/posts\/124306\/revisions\/124404"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/media\/104986"}],"wp:attachment":[{"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/media?parent=124306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/categories?post=124306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/tags?post=124306"},{"taxonomy":"post_series","embeddable":true,"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/series?post=124306"},{"taxonomy":"type","embeddable":true,"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/type?post=124306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}