Top 5 vs. S&P 500 ex-Top 5 - YoY Contribution of EPS and P/E to Returns

The performance gap could widen further, as the top 5 largest stocks in the S&P 500 are superior on almost every financial metric (revenue, profit growth, margin structure, volatility and corporate leverage).

Image: Credit Suisse Research

Top 5 vs. S&P 500 ex-Top 5 - YoY Contribution of EPS and PE to Returns