FSI Sector Allocation - September 2025 Update

Please CLICK HERE to download the sector allocation report in PDF format.

Market Recap
From a seasonality perspective, August during the first year of a U.S. presidential term or cycle tends to be challenging for investors, but this month, equities defied expectations. The S&P 500 closed August 2025 up 1.9%, and it has added 9.8% this year so far. This year-to-date performance would have been impressive for any year, but what makes it particularly impressive is that the S&P 500 had two consecutive annual gains of more than 20% in 2023 and 2024.

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