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Is the Time up for US Equities’ Leadership?

July 2020 
By Sean Markowicz

US equities have outperformed the rest of the world since the Global Financial Crisis. But if history is any guide, outperformance does not last forever.

From our sub-adviser, Schroders Investment Management
Sean Markowicz
Research and Analytics Strategist


The last decade has belonged to the US, but history shows that the winners change over time, both within and across markets. Many of the tailwinds that have favored the US equity market are fading or are under threat. Earnings growth differentials have flattened, profit margins have peaked, valuations look stretched, and political pressure is mounting against the largest technology firms. Against this backdrop, we think investors would be unwise to have all their eggs in that one basket. 

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. • Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political and economic developments. These risks may be greater for investments in emerging markets. Diversification does not ensure a profit or protect against a loss.

The views expressed herein are those of Schroders Investment Management, are for informational purposes only, and are subject to change based on prevailing market, economic, and other conditions. The views expressed may not reflect the opinions of Hartford Funds or any other sub-adviser to our funds. They should not be construed as research or investment advice nor should they be considered an offer or solicitation to buy or sell any security. This information is current at the time of writing and may not be reproduced or distributed in whole or in part, for any purpose, without the express written consent of Schroders Investment Management or Hartford Funds.

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