October 2025 Model Performance Report

1. US: Model performance was unfavourable across the board for the US Large Cap universe, with the Historical Growth model earning highest returns at -0.38%. The Relative Value model performed the worst, while the rest of the models also saw negative returns. The models over the US Small Cap universe struggled during the month.On the 12-month basis, the Price Momentum model performed best at 15.37% while the performance of the Value Momentum 2 model continued to lag.
2. Developed Europe: Over the Developed Europe universe, the Price Momentum model returned 0.32% on a one month decile return spread basis. On a 12-month basis, the Earnings Momentum model performed the best, at 28.04% 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 18.87% and the performance of the Price Momentum model lagged.
4. Emerging Markets: Within the Emerging Markets universe, the Price Momentum model returned 2.27% on one month quintile return spread basis. The Deep Value model led over the one-year period, with returns at 24.06%.
5. Sector Rotation: The US Large Cap Sector Rotation model returned 0.90%. The Tech sector had a favorable ranking and the Non-Cyclicals sector had an unfavorable ranking.The US Small Cap Sector Rotation model and earned a return of 8.80%. The Healthcare sector had a favorable ranking and the Basic Materials sector had an unfavorable ranking.The Developed Europe Sector Rotation model returned 0.60%. 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 Bank and Thrift 2 models had the strongest one month quintile return spread performance returning 3.77% and 2.21%, respectively, while the Semiconductor and the Technology models saw weaker returns. The Retail model's one year cumulative performance was also the highest at 25.68% while the Technology model's performance was the lowest at -40.11%.

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AlphaSignals@spglobal.com

S&P Global provides industry-leading data, software and technology platforms and managed services to tackle some of the most difficult challenges in financial markets. We help our customers better understand complicated markets, reduce risk, operate more efficiently and comply with financial regulation.

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.