For years, the market’s gains have been narrow, dominated by a few mega-cap tech names.
If you weren’t riding those, chances are your portfolio lagged.
But 2025 is starting to tell a different story.
In the first half of the year:
- The MSCI World ex-USA jumped +19%
- The S&P 493 (the S&P 500 minus the Magnificent 7) outperformed Big Tech for the first time in years
That’s a big deal for investors relying on active management.
Why? Because when more stocks are contributing to returns, not just a few giants, there’s more room for stock pickers to find real opportunities.
This broadening market means:
- Diversification starts working again
- Fundamentals start to matter again
- Alpha isn't just a fantasy again
After years of passive strategies winning by default, this shift could mark the beginning of a new cycle, one where active investing is back in the game.
If you’ve been questioning your portfolio mix, this might be the time to re-evaluate.
What’s your take? Are you staying passive or leaning back into active?
This article is general market commentary, not investment advice or a personal recommendation. The value of investments can fall as well as rise, and past performance is not a guide to future returns. Written and reviewed under our editorial standards.
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