344-345 / 499
S&P 500 Weightings
Tech
21%
Financials
13%
Hlth Care
15%
C. Disc.
13%
C. Stpls
10%
Indst.
10%
Energy
7%
Utilities
3%
Mat.
3%
Telecom
3%
Real Estate
3%
Dispersion in returns seems to be increasing, as the ten primary economic sectors generated
wide variance in performance, making sector and security selection especially important.
As with the prior quarter, the performance disparity between the best- and worst-performing sectors was
substantial, coming in at more than 25% for the three months. Financials, energy, and industrials were the
strongest performers, delivering gains of +21.1%, +7.3%, and +7.2%, respectively. The real estate, health
care, and consumer staples sectors were the poorest relative performers, posting returns of -4.4, -4.0%, and
-2.0% respectively.
4Q16
1 Year
Forward P/E
20 Yr. Avg.
Fwd. P/E
Financials
21.1
22.7
14.0
13.1
Energy
7.3
27.4
33.4
17.6
Industrials
7.2
18.8
17.8
17.5
Telecom
4.8
23.5
14.0
17.8
Materials
4.7
16.7
17.2
16.5
Consumer Discretionary
2.3
6.0
18.1
19.4
Technology
1.2
13.8
16.4
22.4
Utilities
0.1
16.3
17.1
14.4
Consumer Staples
-2.0
5.4
19.3
20.0
Health Care
-4.0
-2.7
14.3
18.8
Real Estate
-4.4
3.4
17.5
15.6
Equity Performance
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