Microsoft Corp.
Brian Sozzi at Yahoo Finance on Tuesday posted new S&P 500 attribution data from Bloomberg and Barclays Research that shows Microsoft has erased 140.4 basis points of index‑level total return year-to-date, far more than any other constituent.
Other mega‑cap growth darlings aren't far behind on the losers list - in fact, the Magnificent 7 round out the top 7 detractors:
Nvidia Corp.
The pain extends to the rest of the Mag 7 cohort, with Amazon.com Inc.
This lineup of heavyweights at the bottom of the attribution table highlights a sharp reversal from the past few years, when mega‑cap tech effectively carried the index.
Now, their sheer size means underperformance shows up as a sizable headwind for passive investors, even as many other stocks quietly advance.
In effect, the S&P 500 remains hostage to a handful of giants - only this time, they are dragging performance down instead of pulling it higher.
XOM Tops Contributors List
On the flip side, Exxon Mobil Corp.
The energy major tops the winners column with a 35.7‑basis‑point positive contribution to the S&P 500's total return year-to-date.
Chevron Corp.
The chart below compares the year-to-date stock performances of MSFT, NVDA, XOM and CVX:
Johnson & Johnson
Further down the winners list, Costco Wholesale Corp.
GE Vernova Inc.
The Takeaway
The S&P 500 year-to-date attribution data show a market where energy, industrials and high‑quality defensives are doing the heavy lifting - while the former tech champions that once defined the bull market have become its biggest liability.
