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Dow Closes YTD Performance Gap with S&P 500

Two weeks ago, the S&P 500 was up 12.39% in 2012, while the Dow Jones Industrial Average was up just 8.04%.  This represented a spread of 4.35 percentage points.  As shown below, the YTD performance spread between the two indices has tightened considerably over the past two weeks, and it now sits at 3.22%.

The reason?  Apple (AAPL).  With a 4%+ weighting in the S&P 500 and a 0% weighting in the Dow, Apple's 10% decline over the past two weeks has caused the S&P 500 to underperform.  The second chart below of Apple's share price looks nearly the exact same as the S&P 500/Dow spread chart.

Bespoke 50