The S&P 500 Is Up More Than 10% This Year: But Nearly 40% of S&P 500 Stocks Are Down 20% From Their Highs.

MarketWatch's analysis puts nearly four in 10 of the benchmark's constituent stocks in what investors commonly describe as bear-market territory, even as the index remains comfortably higher for 2026. (Credit: Michael M. Santiago/Getty Images)

The S&P 500's double-digit gain this year conceals steep losses across a substantial portion of its membership, with 191 stocks trading at least 20% below their 52-week highs, according to an analysis published Friday.

MarketWatch's report puts nearly four in 10 of the benchmark's constituent stocks in what investors commonly describe as bear-market territory, even as the index remains comfortably higher for 2026. It highlights how differently a portfolio of individual stocks can perform from the market average.