Yearly Return

While strategists remain bullish on equities this year, they’re predicting returns in U.S. stocks won’t be as robust. The S&P 500 will increase 7.5 percent from where it closed Monday to 2,237 by the end of the year, according to the average of 21 equity strategists surveyed by Bloomberg.

The S&P 500, which never went more than three days without a gain in 2014, has twice fallen five straight times since January. Daily equity moves exceeding 1 percent have jumped 50 percent from last year and shares tumbled 3 percent or more over four different stretches in the first quarter, the most retreats of that magnitude since 2011, Bloomberg data show.

“The environment year-to-date has been better than last year for active management,” Kevin Divney, chief investment officer at Beaconcrest Capital Management LLC, said by phone. “Investors want to make the most amount of money. Risk-adjusted returns matter. Fee-adjusted returns matter. When you start to compound that, it starts to get much more impactful.”

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