ESG Funds Set a Dismal Record. Performance Was a Drag.
Investors yanked a record $13 billion from U.S. sustainable funds in 2023, stung by mediocre performance and the continuing backlash against environmental, social, and governance investing. Last year was the worst calendar year for outflows since Morningstar started keeping track more than a decade ago. Steep outflows from one passive iShares ESG fund accounted for
Stock-market investors fear a megacap meltdown. Here’s what history says.
Investors spent 2023 fretting about the sustainability of a stock-market rally largely driven by a handful of megacap tech stocks. Those worries remain in place as the S&P 500 has returned to record territory in the new year. “With the usual set of select megacap stocks pacing early 2024 performance, concentration-risk worries have been getting