EQUITIES

Equity investment strategies for navigating a variety of market conditions

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Index definitions and key terms:

S&P 500 Index is a market capitalization-weighted index based on the results of approximately 500 widely held common stocks. This index is unmanaged, and its results include reinvested dividends and/or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes.

MSCI EAFE (Europe, Australasia, Far East) Index is a free float-adjusted market capitalization weighted index that is designed to measure developed equity market results, excluding the United States and Canada. Results reflect dividends net of withholding taxes. This index is unmanaged, and its results include reinvested dividends and/or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes. 

MSCI USA Index is a free float-adjusted, market capitalization-weighted index that is designed to measure the U.S. portion of the world market. This index is unmanaged and includes reinvested dividends and/or distributions, but does not reflect sales charges, commissions, expenses, or taxes. Results reflect dividends gross of withholding taxes.

J.P. Morgan U.S. Real Broad Effective Exchange Rate Index (CPI) 2021=100 measures the value of the USD against a weighted average basket of global currencies to show relative strength/weakness indexed to 100, with 2021 as the indexing date.

Dividends are a way in which companies may choose to distribute capital to investors. These dividends are typically paid out in cash, and it’s common for payments to occur on quarterly schedules, but companies are not legally obligated to issue dividends or adhere to a schedule until they officially announce the dividend.

Magnificent 7 refers to seven companies (Microsoft, Apple, Alphabet, Amazon, NVIDIA, Meta and Tesla) whose stocks drove most of the growth of the S&P 500 Index in 2023.