S&P500 Return Attribution

Strong Fundamentals, Macro Drag 

SPY has now returned +6.5% in the first 6 months of 2025 but note the breakdown - idio actually delivered +10.16%, but macro factors were a 3.66% drag on performance.

Read more by downloading the PDF below

Author
Qi Analytics Team

Related Articles

MacroSpotlight 26/01/2026
January 26, 2026
Qi Macro Risk

MacroSpotlight 26/01/2026

US Equity L/S: The Short Squeeze Puzzle of January 2026
January 22, 2026
Qi Macro Risk

US Equity L/S: The Short Squeeze Puzzle of January 2026

MacroSpotlight 08/01/26
January 8, 2026
Qi Macro Risk

MacroSpotlight 08/01/26

Macro Spotlight 10/12/25
December 10, 2025
Qi Macro Risk

Macro Spotlight 10/12/25