September 2025 Model Performance Report

1. US: Model performance varied across the board for the US Large Cap universe, where the Historical Growth model produced the highest returns at 4.75%. The Deep Value model performed the worst. The models over the US Small Cap universe struggled during the month.On the 12-month basis, the Price Momentum model performed best at 14.01% while the performance of the GARP model continued to lag.
2. Developed Europe: Over the Developed Europe universe, the Price Momentum model returned 2.59% on a one month decile return spread basis. On a 12-month basis, the Earnings Momentum model performed the best, at 34.05% cumulative.
3. Developed Pacific: The models struggled over the Developed Pacific universe during this month. On the 12-month basis, the Deep Value model performed best at 28.2% and the performance of the Price Momentum model lagged.
4. Emerging Markets: Within the Emerging Markets universe, the Deep Value model returned 2.88% on one month quintile return spread basis. The Value Momentum model led over the one-year period, with returns at 22.27%.
5. Sector Rotation: The US Large Cap Sector Rotation model returned 0.50%. The Tech sector had a favorable ranking and the Basic Materials sector had an unfavorable ranking.The US Small Cap Sector Rotation model and earned a return of 1.60%. The Non-Cyclicals sector had a favorable ranking and the Basic Materials sector had an unfavorable ranking.The Developed Europe Sector Rotation model returned 1.30%. The Utilities sector had a favorable ranking and the Basic Materials sector had an unfavorable ranking. 
6. Specialty Models: Within the specialty model library, the Retail and the Insurance models had the strongest one month quintile return spread performance returning 3.93% and 3.55%, respectively, while the Semiconductor and the Technology models saw weaker returns. The Retail model's one year cumulative performance was also the highest at 21.7% while the Technology model's performance was the lowest at -23.79%.

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This article was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.