#sp-500

#sp-500

FXAIX exists to be a core holding. It replicates the S&P 500, meaning you own roughly proportional slices of the 500 largest U.S. companies, weighted by market cap. The return engine is simple: capital appreciation from those underlying companies, plus reinvested dividends from the index, minus a sliver for fund expenses. There are no options overlays, no factor tilts, no manager picking winners. The fund's published expense ratio of 0.015% sits among the lowest in the industry, which means almost every dollar of index return flows through to shareholders.

The S&P 500 is set to extend a record run as crude tumbles and traders welcome signs the Iran conflict could be winding down. Stocks are soaring because the Strait of Hormuz appears clear and a chip-led rally is rolling into a second day.

Carvana's Q4 2025 report delivered EPS of $4.22 against a $1.09 consensus and revenue of $5.60 billion, up 58% year over year. This report pushed full-year 2025 revenue past $20 billion for the first time, while Carvana's annual operating income climbed 88%.

The S&P 500 rose 67.82% on a price basis from inauguration day to the end of Trump's first term, gaining 9.27% in the first six months and 24.15% after one year. Trade tensions with China caused corrections, but the market recovered as company earnings continued to grow.

The current pressure is largely driven by tensions in the Middle East, as signals from the U.S. and Iran remain conflicting. While the U.S. has indicated that negotiations are ongoing, Iran has firmly denied any talks, increasing uncertainty around the prospects of de-escalation.

By the numbers: The S&P 500 climbed 15.7% between Trump's second inauguration day and last Friday, which marked the final trading day of his first year in office. It was up 24.1% during the first year of his prior term, and up 19.3% during Biden's first year. Obama outperformed them both with a 35.9% gain. Zoom in: Other indices were kinder to Trump 2.0, at least compared to his Democratic predecessors.