The Takeaway
Best Performing Themes: Emerging Green Technologies, Digital Infrastructure and Connectivity, Nanotechnology.
Worst Performing Themes: Fintech Innovation, Food Innovation, Sports Betting and iGaming.
With the "Magnificent 7" having driven a large portion of broad market returns in the US, indexes with more exposure to this basket of stocks tended to perform well.
Despite continued trade frictions and geopolitical tensions, the Morningstar Global Markets Index posted an impressive 7.7% total return in the third quarter. With the "Magnificent 7" stocks driving a significant portion of broad market returns, indexes with significant exposure to this basket of stocks tended to perform well.
Leveraging forward-looking insights from Morningstar equity analysts, Morningstar Thematic Indexes are designed to deliver unparalleled thematic purity across a range of durable themes. Across Morningstar's thematic index lineup, the three top-performing indexes in the third quarter focused on the Emerging Green Technologies, Digital Infrastructure & Connectivity, and Nanotechnology themes. Within this group, the Morningstar Global Emerging Green Technologies Select Index performed best, delivering a 19.1% total return and outperforming the Morningstar Global Markets Index by 11.4%. Meanwhile, the three worst-performing thematic indexes focused on the Fintech Innovation, Food Innovation, and Sports Betting & iGaming themes. Within this group, the Morningstar Global Fintech Innovation Index performed worst, generating a -9.0% total return and underperforming the Morningstar Global Markets Index by 16.6%.
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