Equal-Weighted Nasdaq 100 Underperforms S&P 500 by Record 6.8 Percentage Points

Equal-weighted Nasdaq 100 lags S&P 500 by 6.8% in July, its worst monthly relative performance on record, as tech stocks fall 4.6% while broader market hits highs.

Woofun AI data shows that the equal-weighted Nasdaq 100 Index underperformed the equal-weighted S&P 500 Index by 6.8 percentage points in July, marking the worst monthly relative performance in history. This decline follows four consecutive months where equal-weighted tech stocks outperformed the broader market. Over the past two decades, the average tech stock performance has never lagged the S&P 500 average by more than 5 percentage points.

The equal-weighted S&P 500 Index rose 2.2% in July, reaching a historical high, while the equal-weighted Nasdaq 100 Index fell 4.6%, approaching its lowest level since mid-May. Investors are rapidly taking profits from tech stocks at a record pace.