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The U.S. stock market staged a remarkable rally in 2023, but 173 stocks in the S&P 500 were still down for the year.
Here’s a roundup of how well the 11 sectors of the S&P 500 fared through 10 a.m. Eastern time on Friday:
| Sector or index | 2023 price change | 2022 price change | Price change since end of 2021 | Forward P/E | Forward P/E at end of 2022 | Forward P/E at end of 2021 |
| Information Technology | 57.1% | -28.9% | 11.5% | 26.7 | 20.0 | 28.2 |
| Communication Services | 54.9% | -40.4% | -7.6% | 17.4 | 14.3 | 21.0 |
| Consumer Discretionary | 42.1% | -37.6% | -11.4% | 26.2 | 21.7 | 34.7 |
| Industrials | 16.2% | -7.1% | 8.0% | 20.0 | 18.7 | 22.0 |
| Materials | 10.4% | -14.1% | -4.9% | 19.5 | 15.8 | 16.6 |
| Financials | 10.2% | -12.4% | -3.4% | 14.6 | 13.0 | 16.3 |
| Real Estate | 9.0% | -28.4% | -21.6% | 18.3 | 16.9 | 24.7 |
| Healthcare | 0.3% | -3.6% | -3.3% | 18.2 | 17.7 | 17.3 |
| Consumer Staples | -2.3% | -3.2% | -5.4% | 19.3 | 20.6 | 21.4 |
| Energy | -4.7% | 59.0% | 51.8% | 10.9 | 9.8 | 11.1 |
| Utilities | -10.4% | -1.4% | -11.4% | 15.9 | 18.7 | 20.4 |
|
S&P 500 SPX |
24.6% | -19.4% | 0.4% | 19.7 | 16.8 | 21.6 |
|
Dow Jones Industrial Average DJIA |
13.8% | -8.8% | 3.8% | 17.6 | 16.6 | 18.9 |
|
Nasdaq Composite Index COMP |
44.2% | -33.1% | -3.5% | 26.9 | 22.6 | 32.0 |
|
Nasdaq-100 Index NDX |
54.6% | -33.0% | 3.5% | 26.3 | 20.9 | 30.3 |
| Source: FactSet | ||||||
All price changes in this article exclude dividends.
Also read: These 20 stocks soared the most in 2023
Because the 2023 rally followed a dismal 2022, the table includes price changes from the end of 2021, as well as forward price-to-earnings values based on current data and those at the end of 2022 and 2021.
Here are the 20 stocks in the S&P 500 whose prices have fallen the most in 2023:
| Company | Ticker | 2023 price change | 2022 price change | Price change since end of 2021 | Forward P/E | Forward P/E at end of 2022 | Forward P/E at end of 2021 |
| FMC Corp. |
FMC, |
-49% | 14% | -42% | 14.1 | 14.9 | 14.2 |
| Enphase Energy Inc. |
ENPH, |
-49% | 45% | -26% | 31.9 | 48.8 | 60.1 |
| Dollar General Corp. |
DG, |
-45% | 4% | -42% | 18.3 | 20.2 | 21.2 |
| Moderna Inc. |
MRNA, |
-44% | -29% | -61% | N/A | 38.7 | 9.3 |
| Pfizer Inc. |
PFE, |
-44% | -13% | -51% | 12.5 | 10.5 | 9.7 |
| Estee Lauder Cos. Class A |
EL, |
-41% | -33% | -60% | 45.6 | 39.8 | 46.4 |
| Paycom Software Inc. |
PAYC, |
-33% | -25% | -50% | 25.4 | 42.3 | 73.9 |
| Albemarle Corp. |
ALB, |
-33% | -7% | -38% | 11.2 | 7.8 | 38.9 |
| AES Corp. |
AES, |
-33% | 18% | -20% | 10.2 | 16.4 | 14.7 |
| Etsy Inc. |
ETSY, |
-31% | -45% | -62% | 31.3 | 44.9 | 64.0 |
| VF Corp. |
VFC, |
-31% | -62% | -74% | 10.5 | 11.9 | 20.4 |
| Illumina Inc. |
ILMN, |
-30% | -47% | -63% | 152.3 | 66.0 | 90.2 |
| Hormel Foods Corp. |
HRL, |
-30% | -7% | -34% | 20.3 | 23.9 | 24.6 |
| Walgreens Boots Alliance Inc. |
WBA, |
-30% | -28% | -50% | 7.7 | 8.1 | 10.4 |
| Bristol-Myers Squibb Co. |
BMY, |
-29% | 15% | -18% | 7.1 | 9.0 | 7.9 |
| NextEra Energy Inc. |
NEE, |
-27% | -10% | -35% | 17.9 | 27.0 | 34.0 |
| Eversource Energy |
ES, |
-27% | -8% | -32% | 13.6 | 19.2 | 22.1 |
| Insulet Corp. |
PODD, |
-26% | 11% | -18% | 87.4 | 260.4 | 194.9 |
| Conagra Brands Inc. |
CAG, |
-26% | 13% | -16% | 10.5 | 15.2 | 13.3 |
| Devon Energy Corp. |
DVN, |
-26% | 40% | 4% | 7.6 | 7.0 | 8.4 |
| Source: FactSet | |||||||
Click on the tickers for more about each company.
Click here for Tomi Kilgore’s detailed guide to the wealth of information available for free on the MarketWatch quote page.
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