Off the Desk | Equity

To start the year, investors were already navigating a volatile market environment. Since November, cyclicals, value, and the equal weight version of the S&P 500 Index had been outperforming cap weighted benchmarks and growth stocks, signaling a broadening in market leadership after a narrow mega cap driven rally. We noticed that this shift prompted significant repositioning and drove elevated volatility across single stocks, factors, and themes. Into this unsettled backdrop, rotational forces were exacerbated by rapid advances in generative AI, large language models, and autonomous workflow tools that have added a new source of disruption[KB1] [CR2] .

[KB1]Should the below references state “S&P 500 Equal Weight Index”?For the legend titles, the use of Index twice in the definition is confusing - is this intentional? Should it just state, for example, S&P 500 Total Return Index? If yes, then should the index references in the chart tile also get updated?[CR2]Thank you. Fixed