Some strategists think sentiment has hit rock bottom and that a rally may be near.
Investors are concerned that aggressive tightening by the Federal Reserve will erode economic growth.
Revenue declines won't be as bad as the market anticipates, the firm's analysts said.
The firm's analysts base their view on an index they say has been 100% accurate outside of recessions for the past 30 years.
UBS's market-value lead over its Swiss rival has increased to levels not seen since the global financial crisis.
Cathie Wood and Warren Buffett have both delivered returns of about 35% over the past 24 months.
The famous tech fund is now down 22% in 2021, heading for its worst annual performance since its inception in 2014.
Risk-averse investors are turning away from the growth tech stocks favored by Wood's flagship fund.
Most managers believe there are still good times to come in the second half of 2021.
Some analysts are even calling for a period of "stagflation" in the coming years.
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