While a surge in bond yields has interrupted the equity rally from the first half of 2023, the performance gap between the largest companies by market capitalization and the rest of the market remains wide. Valuation has become a focal point for investors. Earnings are expected to grow again at a rate above historical average despite three consecutive quarters of declines. Investors may want to consider quality at a discount with the equal-weighted S&P 500® Dividend Aristocrats.®
