Defensive investing has been left in the dust by the high-flying semiconductor rally, and plenty of individual sectors are lagging the market.
Despite a whiplash-inducing correction following the start of the Iran war, the S&P 500 is now up around 10% year-to-date (YTD). But the rally has been narrow, and the market has become sharply divided between stocks with AI connections and those without, which puts the insurance sector in perilous territory. However, not every insurance stock is lagging the market.