As September progresses, historical data indicates it is typically the weakest period of the year for the stock market, dating back to 1950. The S&P 500 has averaged a decline of 1.4% in September since 1998, with the worst days of the month yet to come. On the 13th, the S&P 500 was down 0.4%. Real Estate (XLRE) has been the best-performing sector since the S&P 500 bottomed in October 2023, surging by 44%, while Energy (XLE) has seen marginal gains of 4%. The Utilities sector (XLU) has reached an all-time high, recovering from a drawdown that began in September 2022, and has gained 27% year-to-date, leading all sectors by over 5.5 percentage points. Additionally, XLRE has beaten the S&P 500 by 6.8% over the last month, while historically, XLRE and XLB have been the worst-performing sectors in September, with average declines of 4.83% and 3.19%, respectively.