In a topsy-turvy year for the stock market, one group of stocks is standing head and shoulders above the crowd: the mega-caps. That's the name Bloomberg News has given to the 100 largest stocks in the S&P 500, which are showing the greatest strength relative to the market than they've had in over a decade.
So far in 2012, the S&P 100 have returned 7.7 percent. Bloomberg adjusted the overall S&P 500 to strip out the weighting adjustment for market caps, and found that the rest of companies in there had returned just 5.1 percent this year. Overall, the S&P 500 as a whole is up 6.8 percent this year.
That's a big reversal from recent years. From the market's bottoming out on March 9, 2009, through the end of last year, those 100 largest companies returned 77 percent, while the average company in the S&P 500 had returned 128 percent. Overall, the mega-caps haven't beaten the rest of the S&P 500 by as wide a margin as they're showing this year since 1999.
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