S&P Factor Performance Highlights Momentum in June & Q2

The article reviews June and Q2 S&P factor performance, highlighting a sharp leadership rotation toward momentum while growth lagged. The S&P 500 Momentum Index rose 7.5% in June, delivered a 44.4% gain in Q2, and is up 36% year-to-date, outperforming all other S&P factors. Quality and dividend factors also held up well, acting as defensive shelters during a global tech selloff, while growth was the only losing factor in June (-1.76%). The commentary points to broader market breadth, with small caps and equal-weight strategies outperforming the cap-weighted S&P 500. For ETF investors, the piece frames momentum, quality, low volatility, and dividend strategies as ways to reduce concentration risk and ride the prevailing market leadership.