While both the DJIA and S&P 500 are used by investors to determine the general trend of the U.S. stock market, the S&P 500 is more encompassing, as it is based on a larger sample of total U.S. stocks.Answer & Explanation
The S&P 500 covers a broader spectrum of industries, offering better diversification compared to the DJIA, which is more concentrated in industrial companies.The Dow, for example, has higher weightings in financials, healthcare, consumer discretionary, and industrials than the S&P 500 and Nasdaq Composite, but lower weightings in high-growth sectors like tech and communications (with the latter including Alphabet, Meta Platforms, Netflix, and other growth stocks).
What are the key differences between the S&P 500 and the Dow Jones Industrial Average Chegg : The S&P 500 represents a much fewer number of companies and is weighted based on company stock prices, while the DJIA represents a much larger number of companies and its index is market cap weighted.
Why is S&P better than Dow
The Dow represents only a narrow slice of the economy. Professional investors tend to look at broader measures of the market, such as the S&P 500 index, which has nearly 17 times the number of companies within it.
Is Dow Jones more volatile than S&P 500 : The downside to having more sectors included in the index is that the S&P 500 tends to be more volatile than the Dow. Thus, its gains may be higher on days when the market does well and losses steeper when the market falls.
Why might the S&P 500's market-capitalization-weighted calculation provide a more accurate representation of the overall market than the DJIA's price-weighted calculation Because it ensures that all companies, regardless of size, have equal influence on the index.
Disadvantages of Using the S&P 500 as a Benchmark
Also, the index contains only larger market-cap companies from the U.S.4 In contrast, investors may own small-cap or foreign companies in their portfolios. Using the S&P 500 as a benchmark may be an inaccurate measure of portfolio return for individual investors.
What index is better than S&P 500
The S&P 500's track record is impressive, but the Vanguard Growth ETF has outperformed it. The Vanguard Growth ETF leans heavily toward tech businesses that exhibit faster revenue and earnings gains. No matter what investments you choose, it's always smart to keep a long-term mindset.The Bottom Line. Both the Dow and the Nasdaq are stock market indexes that provide insight into the broader economy. While the Nasdaq is also a stock exchange, the Dow is purely a stock market index.The S&P500 is considered less volatile than the DJIA.
Industrial companies' performance is often seen as synonymous with that of the overall economy, making the DJIA a key measure of broader economic health. 2 Although the economy's health is now tied to many other sectors, the DJIA is still seen as a vital indicator of the U.S. economy's well-being.
Why is the Dow so popular : In addition to representing 30 of the most highly capitalized and influential companies in the U.S. economy, the Dow is also the financial media's most referenced U.S. market index and remains a good indicator of general market trends.
Why is the S&P 500 not a good investment : The S&P 500 weighting system gives a small number of companies major influence, which could have an undue negative effect on the index if one or a few of them run into trouble. The index does not expose investors to small or emerging companies with the potential for market-beating growth.
Can anyone beat the S&P 500
It's not easy to beat the S&P 500. In fact, most hedge funds and mutual funds underperform the S&P 500 over an extended period of time. That's because the S&P 500 selects from a large pool of stocks and continuously refreshes its holdings, dumping underperformers and replacing them with up-and-coming growth stocks.
10 funds that beat the S&P 500 by over 20% in 2023
Fund | 2023 performance (%) | 5yr performance (%) |
---|---|---|
MS INVF US Insight | 52.26 | 34.65 |
Sands Capital US Select Growth Fund | 51.3 | 76.97 |
Natixis Loomis Sayles US Growth Equity | 49.56 | 111.67 |
T. Rowe Price US Blue Chip Equity | 49.54 | 81.57 |
the S&P 500
The most popular index and the one most investors and analysts use to gauge the health of the U.S. economy is the S&P 500. The Nasdaq 100 has handily outperformed the other major market indexes over the last decade.
What are the two major differences between the S&P 500 and the DJIA : There are three main points of difference among the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average (DJIA, or Dow): the criteria that they use to include stocks, their method of assigning weightings to constituents, and their coverage universe.