S&P 500 Holds Near Record Highs as Passive Indexing Beats 90% of Managers

The S&P 500 closed the period near 7,500 after touching an all-time high of 7,501.39 on May 14. Coverage opened May 19 by quantifying the steep cost of cash holdings amid 79.72% five-year gains, then shifted May 22-24 to rebut seasonal “sell in May” claims. By May 26-27 the unified message was clear: maintain time-horizon-matched equity allocations through volatility, with SPY posting 28% one-year and 80% five-year returns and 90% of active managers underperforming the index. Disciplined, automated contributions to broad-market index funds remain the dominant prescription.