The Tech Stocks that Impressed in November—Not Big Tech
December 12, 2020 at 13:21 PM EST
By Brandon Rakszawski, VanEck Senior ETF Product Manager The Morningstar® Wide Moat Focus IndexSM fired back strongly in November relative to the S&P 500 Index to erase a good portion of its 2020 relative underperformance. The Index posted a 15.01% return for the month vs. 10.95% for the S&P 500, leaving it trailing by 2.35% in 2020 thus far. A large portion of underperformance in 2020 was “driven by poor relative returns in the summer months”: following the index’s shift toward oversold core and value-oriented stocks. Those moves were finally rewarded in November, after the U.S. presidential election, as values stocks began to starkly outpace growth-oriented stocks. Every one of the top 10 performing stocks in the Index in November were classified as either value or core stocks by Morningstar on November 30.