May 2023 Factor Performance Analysis



Value is out, Growth is in, as AI-impacted stocks drive factor rotation

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The latest May factor performance data highlights Value is out and Growth is in, as AI-impacted stocks drive factor rotation.

Global equities experienced negative returns, specifically European equities undergoing a correction of 6% after a strong rally in the first four months of the year. Emerging Markets and US equities returned slightly above 0%, while the UK and Canada faced losses of 5% in the same period.

Find out what this trend means and which sub-factors to keep an eye on, all in our latest global report.



Gain insights regarding:
  • The rotation out of Value into Growth worldwide

  • What sectors and companies led Growth to outperform in May

  • Which regions observed volatile growth stocks outperform high-quality growth stocks

  • Which companies capitalized on the AI boom

  • How Emerging Markets equities performed differently than in Developed Markets.


Download the report today for our latest factor performance analysis.




About the Author


Alex Lustig
Senior Consultant
Investment Metrics, a Confluence company

Alex Lustig is a Senior Consultant at Investment Metrics working on the research team. He joined when Investment Metrics acquired Style Analytics in 2021, where he focused on client relationships and style factor research. Alex holds an undergraduate degree in Economics from Boston University.