Tech dominates the S&P 500

Tech has absolutely dominated the S&P 500 this year. Just take a look at this data visualisation that I published yesterday. Now I've covered this before, but I've never actually broken down the return contribution into its component parts i.e. the Magnificent Seven: Apple, Microsoft, Amazon, Alphabet (Google), Meta, Nvidia and Tesla.

In some instances during this year, the rest of the S&P 500 (colloquially called, the S&P 493) actually took away performance from the Index. Watch the video and spot those moments when that occurred. It really makes you wonder, what does the S&P 500 mean anymore? Should it just be called the S&P 7?

It's pretty mad isn't it? Without those seven magnificent, mega technology firms, we as investors would've only earned 4.07% from the S&P 500 this year. Bear in mind inflation is 3.2% in the United States year-on-year.