> ## Content Index
> Fetch the complete content index at: https://www.yardeniquicktakes.com/llms.txt
> Use this file to discover other available public pages before exploring further.

# And the Winner Is ...
- URL: https://www.yardeniquicktakes.com/and-the-winner-is/
- Published: 2023-01-22T02:32:08.000Z
- Updated: 2023-01-22T02:32:08.000Z
- Author: Ed Yardeni

When comparing the performance of various stock market indexes, the financial press tends to focus on just a few including the S&P 500 index that is market-cap weighted rather than equal weighted and excludes dividends. 

The following performance derby table shows what a difference these two other factors can make. It sorts the percent changes in the various indexes shown since January 3, 2022 through Friday's close. 

![](https://storage.ghost.io/c/16/ef/16efc0dd-240f-4f5e-9e01-d619d6fd4fd1/content/images/2023/01/capture1-21.jpg)

The S&P 500 LargeCap index is down 17.2% since last year's peak. The total return index is down 15.7%. The LargeCap equal-weighted index is down 9.4%. The LargeCap equal-weighted total return index is down 7.6%. Diversification and dividends cushioned the downside.

Below is the same performance derby table since last year's bear market low. While the S&P 500 is up 11.1%, the total return index is up 11.6%, the equal-weighted index is up 15.2%, and the equal-weighted total return index is up 15.8%.

![](https://storage.ghost.io/c/16/ef/16efc0dd-240f-4f5e-9e01-d619d6fd4fd1/content/images/2023/01/capture1-23.jpg)

[View All QuickTakes](https://www.yardeniquicktakes.com/)

[View Our Live Charts](https://www.yardeniquicktakes.com/live-charts/)