Stats › Concentration and breadth › Market breadth
Only 26.9% of S&P 500 shares beat the index in 2023
In a normally distributed market you would expect somewhere near half. Three consecutive years below a third is the anomaly, and 46.3% in 1H 2026 is a return toward normal. Source: First Trust.
Breadth measures how many companies in an index beat the index itself. In 2023 only 26.9% of S&P 500 constituents did, and just over a quarter again in 2024. The headline return described a small minority of its own members.
Members only
The rest of this page is for members
Below this point there are 7 sections, 1 table and 2 named sources, roughly 900 words of it. Every figure carries the source it came from and the date the data is from.
You can keep browsing every statistic in the library for free. The intro and the summary are always open.