Investors should prefer the Canadian TSX Composite benchmark index in 2024 to the S & P 500 , according to Bank of America.
Last year, while inflation was moderating, the TSX underperformed the S & P 500 by 16 percentage points.
However, the Canadian index beat the S & P 500 in 2022 when inflation was investors' prime concern.
According to FactSet, the P/E currently stands at 15.75x, lower than the 20.28x of the S & P 500.
Canadian investors can access the index through the near-identical iShares Core S & P/TSX Capped Composite Index ETF and BMO S & P/TSX Capped Composite Index ETF .
Persons:
Ohsung Kwon, FactSet, Kwon, SPX
Organizations:
Canadian, Bank of America, TSX, of America's, BMO, U.S
Locations:
of America's Canada, 15.75x, United States, Canada, Yom Kippur, Vietnam