US Equities
Today’s price sits at the 88.6th percentile of modeled fair value — 11% of modeled scenarios put fair value above the market.
- Median fair value
- 89.3
- Upside to median
- -10.7%
- Last close
- $772.49
- Confidence
- high
Return distributions, not point forecasts
Percentiles describe the spread of scenario outcomes under the stated method. The width of the range carries as much information as the midpoint.
One year
blended- P90
- +25.0%
- P75
- +16.0%
- Median
- +5.0%
- P25
- -7.0%
- P10
- -18.0%
60% of modeled scenarios end positive.
Blended current fundamentals, income, valuation-convergence scenarios and institutional long-run return priors; long-run averages are used only as priors, not one-year forecasts.
Three years, annualised
blended- P90
- +12.0%
- P75
- +8.5%
- Median
- +4.8%
- P25
- +1.0%
- P10
- -4.0%
Blended current fundamentals, income, valuation-convergence scenarios and institutional long-run return priors; long-run averages are used only as priors, not one-year forecasts.
Against the Treasury hurdle
- 1y Treasury
- 4.03%
- Expected excess
- +1.0%
- Basis
- direct
DGS1 is the preferred current one-year annual-return hurdle; expected excess is a modeled spread, not a guaranteed excess return.
10 in this asset class
| Symbol | Valuation | Fair value | Last close | 1y modeled |
|---|---|---|---|---|
| DIA US Blue-Chip Index | -2.3Exceptionally expensive | 89.3 | $537.15 | +5.0% |
| IWM US Small-Cap Index | -2.3Exceptionally expensive | 89.3 | $302.71 | +5.0% |
| QQQ US Technology Index | -2.3Exceptionally expensive | 89.3 | $723.70 | +5.0% |
| RSP US Equal-Weight Index | -2.3Exceptionally expensive | 89.3 | $221.08 | +5.0% |
| SMH US Semiconductor Sector | -2.3Exceptionally expensive | 89.3 | $584.83 | +5.0% |
| SPY US Large-Cap Index | -2.3Exceptionally expensive | 89.3 | $772.49 | +5.0% |
| XLF US Financial Sector | -2.3Exceptionally expensive | 89.3 | $57.92 | +5.0% |
| XLI US Industrial Sector | -2.3Exceptionally expensive | 89.3 | $185.88 | +5.0% |
| XLV US Healthcare Sector | -2.3Exceptionally expensive | 89.3 | $168.44 | +5.0% |
| XLY US Consumer Discretionary Sector | -2.3Exceptionally expensive | 89.3 | $117.89 | +5.0% |