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Defensive Stocks: The Potential for Downside Mitigation May be Cheaper Than You Think

September 2018

As the economic cycle matures, defensive sectors can not only help mitigate drawdowns, they may be more attractively priced than they’ve been in years.


After periods of prolonged economic expansion and robust market performance, it is easy to discount the importance of preparing for potential downside risks. After investing in defensive stocks through multiple cycles, we have learned that they can represent a compelling opportunity set during times of market volatility and economic slowdown.

Peter Fisher, Portfolio Manager at Wellington Management
Samuel Sansom, Investment Specialist at Wellington Management

Important Risks: Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Focusing on investments in particular sectors may increase its volatility and risk of loss if adverse developments occur.

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