What is the S&P 500?

"S&P 500" is an abbreviation for the Standard & Poor's 500 Total Return Index, a market-value weighted index of 500 stocks chosen to reflect the risk/return characteristics of the large cap universe and one of the common benchmarks for the US stock market. Any comparison to the S&P 500, or to any other benchmark, is shown for illustrative purposes only. Swell’s portfolios differ from the S&P 500 in that, among other factors, Swell’s portfolios are managed, primarily focused on small and mid-cap stocks, undiversified, bear fees and may vary materially in volatility.

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