SPIVA U.S. Scorecard
After a dismal 2022, the market recovered with a vengeance in 2023 and the S&P 500® gained an impressive 26%. Optimism that the U.S. Federal Reserve would be able to engineer a soft landing accompanied a broadening of the rally to the S&P MidCap 400® and the S&P SmallCap 600®, which both climbed 16%.
Meanwhile, despite persistent inflation concerns and a rough start to the year for regional banks, U.S. fixed income markets also gained in 2023— albeit less materially and with a few more bumps along the way.
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