{"id":7025323,"date":"2026-08-03T16:17:21","date_gmt":"2026-08-03T16:17:21","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/investing\/everything-changed-in-early-2023-wonder-how-many-investors-noticed-investment-moats\/"},"modified":"2026-08-03T16:17:21","modified_gmt":"2026-08-03T16:17:21","slug":"everything-changed-in-early-2023-wonder-how-many-investors-noticed-investment-moats","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=7025323","title":{"rendered":"Everything Changed in Early 2023. Wonder how many Investors noticed. \u2013 Investment Moats"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<aside class=\"mashsb-container mashsb-main mashsb-stretched\">\n                <\/aside>\n<p>            <!-- Share buttons by mashshare.net - Version: 4.0.47--><\/p>\n<p>I was taking a look at the <a href=\"https:\/\/www.ishares.com\/uk\/individual\/en\/products\/270057\/ishares-msci-world-size-factor-ucits-etf\" data-type=\"link\" data-id=\"https:\/\/www.ishares.com\/uk\/individual\/en\/products\/270057\/ishares-msci-world-size-factor-ucits-etf\">iShares MSCI World Mid-Cap Equal Weighted UCITS ETF<\/a> (ticker: IWSZ) while trying to answer a reader question regarding my last post that is pretty much equal weight centered:<\/p>\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-investment-moats wp-block-embed-investment-moats\"\/>\n<p>And I sort of layered a few total return (price gains + dividends) charts together and sort of notice the same thing I see again and again.<\/p>\n<p>And I am not sure if readers here noticed what I see.<\/p>\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/IWFS_2026-08-02_12-21-15_efbca-scaled.png\" data-slb-active=\"1\" data-slb-asset=\"2080182546\" data-slb-internal=\"0\" data-slb-group=\"24565\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"669\" src=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/IWFS_2026-08-02_12-21-15_efbca-1024x669.png\" alt=\"\" class=\"wp-image-24566\" srcset=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/IWFS_2026-08-02_12-21-15_efbca-1024x669.png 1024w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/IWFS_2026-08-02_12-21-15_efbca-300x196.png 300w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/IWFS_2026-08-02_12-21-15_efbca-768x502.png 768w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/IWFS_2026-08-02_12-21-15_efbca-2048x1338.png 2048w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/IWFS_2026-08-02_12-21-15_efbca-960x627.png 960w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/IWFS_2026-08-02_12-21-15_efbca-1080x706.png 1080w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/IWFS_2026-08-02_12-21-15_efbca-1200x784.png 1200w\" sizes=\"(max-width: 760px) calc(100vw - 24px), 720px\"\/><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"669\" alt=\"\" class=\"wp-image-24566 eager-load\" sizes=\"(max-width: 760px) calc(100vw - 24px), 720px\" data-pin-media=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/IWFS_2026-08-02_12-21-15_efbca-scaled.png\" id=\"mv-trellis-img-1\" loading=\"eager\" src=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/IWFS_2026-08-02_12-21-15_efbca-1024x669.png\" srcset=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/IWFS_2026-08-02_12-21-15_efbca-1024x669.png 1024w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/IWFS_2026-08-02_12-21-15_efbca-300x196.png 300w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/IWFS_2026-08-02_12-21-15_efbca-768x502.png 768w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/IWFS_2026-08-02_12-21-15_efbca-2048x1338.png 2048w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/IWFS_2026-08-02_12-21-15_efbca-960x627.png 960w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/IWFS_2026-08-02_12-21-15_efbca-1080x706.png 1080w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/IWFS_2026-08-02_12-21-15_efbca-1200x784.png 1200w\" data-svg=\"1\" data-trellis-processed=\"1\"\/><\/a><figcaption class=\"wp-element-caption\">Click to view a larger chart.<\/figcaption><\/figure>\n<p>This chart starts from end 2014, which is when IWSZ incepted. Its probably a 10 year history not too long but also not too short. <\/p>\n<p>I want to put out the returns of a few index together:<\/p>\n<ol class=\"wp-block-list\">\n<li>IWSZ: 195%<\/li>\n<li>S&amp;P 500 Equal Weighted (RSP): 259%<\/li>\n<li>S&amp;P 600 (IJR): 244%<\/li>\n<li>S&amp;P 400 (MDY): 236%<\/li>\n<li>L&amp;G Russell 2000 US Small Cap Quality UCITS ETF USD Accumulate (RTWO): 228%<\/li>\n<li>S&amp;P 500 Cap-weighted (SPY): 377%<\/li>\n<\/ol>\n<p>Clearly the S&amp;P 500 cap weighted index did pretty well, but if you look at the chart you would see a clear pattern:<\/p>\n<p>Everyone was jostling for positions from 2015 to 2023. Then in Feb 2023, the SPY took off. <\/p>\n<p>Everyone else has differing returns but largely not too far off. Small caps, mid caps, large caps all the same. It was whether you have mega companies.<\/p>\n<p>Now I think there may be 4 or 5 questions you can reflect as you look at this chart.<\/p>\n<p>The small, mid and large, even with some international can own different groups of companies. <\/p>\n<p>The first thing is, their returns are not too far off! A follow up personal ponder is: <strong><span style=\"text-decoration: underline;\">What is the factor that caused different portfolios of stocks to do pretty well?<\/span><\/strong><\/p>\n<p>We know what happen in Feb 2023, the AI trade took off and greatly benefit the mega companies in the US.<\/p>\n<p>Now think about this: <\/p>\n<p><strong><span style=\"text-decoration: underline;\">In Oct 2014 you could have made 1 single investment in either IWSZ, RSP, IJR, MDY, RTWO or SPY.  How would you explain your \u201cunderperformance\u201d if you chose IWSZ, RSP, IJR, MDY or RTWO?<\/span><\/strong><\/p>\n<p>That you didn\u2019t foresee a group of companies would do extremely well?<\/p>\n<p>But perhaps you thought all 500 large caps are pretty good so equal weighting them is not a bad idea! the data from 2003 to 2014 looked so compellling!<\/p>\n<p>Now the next question:<\/p>\n<p><strong><span style=\"text-decoration: underline;\">Now is Aug 2026. If you were to make the decision, again with one out of these six, which would you put your money into?<\/span><\/strong><\/p>\n<p>If you stick with a cap-weighted S&amp;P 500, why did you make this decision?<\/p>\n<p>Your 10 year older self is going to come back and find your reason today.<\/p>\n<p>There is also something very hidden:<\/p>\n<p>Some folks consider Microsoft, Amazon, Google, Meta Platforms to be superior companies. Microsoft probably bottom near 2014 when Nadella took over the company and since then, Microsoft, Amazon have a long run way of growth from meeting cloud computing resources demand. Google later joined in. <\/p>\n<p><strong><span style=\"text-decoration: underline;\">But if you look at the chart from 2014 to 2023, despite this \u201csuperior\u201d business model, they were essentially\u2026 no different from smaller mid caps and small cap stocks!<\/span><\/strong><\/p>\n<p>In a way, are mega companies really superior that you have to invest in a cap-weighted large cap index? I don\u2019t always think so. <\/p>\n<p>If we lengthen this over 15 years, 20 years, you might realize that this AI may just be a short blip. <\/p>\n<p>But there is a last question to ponder about:<\/p>\n<p><strong><span style=\"text-decoration: underline;\">Now so these mega companies have gain so much, relative to the others. Usually what comes next? long term strength strengthens even more? or Mean reversion?<\/span><\/strong><\/p>\n<p>It is a good question because\u2026 you are seeing the same pattern on the STI:<\/p>\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/ES3_2026-08-02_12-59-12_63c02-scaled.png\" data-slb-active=\"1\" data-slb-asset=\"577569913\" data-slb-internal=\"0\" data-slb-group=\"24565\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"669\" src=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/ES3_2026-08-02_12-59-12_63c02-1024x669.png\" alt=\"\" class=\"wp-image-24567\" srcset=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/ES3_2026-08-02_12-59-12_63c02-1024x669.png 1024w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/ES3_2026-08-02_12-59-12_63c02-300x196.png 300w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/ES3_2026-08-02_12-59-12_63c02-768x502.png 768w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/ES3_2026-08-02_12-59-12_63c02-2048x1338.png 2048w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/ES3_2026-08-02_12-59-12_63c02-960x627.png 960w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/ES3_2026-08-02_12-59-12_63c02-1080x706.png 1080w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/ES3_2026-08-02_12-59-12_63c02-1200x784.png 1200w\" sizes=\"auto, (max-width: 760px) calc(100vw - 24px), 720px\"\/><img decoding=\"async\" width=\"1024\" height=\"669\" src=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/ES3_2026-08-02_12-59-12_63c02-1024x669.png\" alt=\"\" class=\"wp-image-24567 lazyload\" srcset=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/ES3_2026-08-02_12-59-12_63c02-1024x669.png 1024w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/ES3_2026-08-02_12-59-12_63c02-300x196.png 300w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/ES3_2026-08-02_12-59-12_63c02-768x502.png 768w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/ES3_2026-08-02_12-59-12_63c02-2048x1338.png 2048w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/ES3_2026-08-02_12-59-12_63c02-960x627.png 960w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/ES3_2026-08-02_12-59-12_63c02-1080x706.png 1080w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/ES3_2026-08-02_12-59-12_63c02-1200x784.png 1200w\" sizes=\"auto, (max-width: 760px) calc(100vw - 24px), 720px\" data-pin-media=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2026\/08\/ES3_2026-08-02_12-59-12_63c02-scaled.png\" id=\"mv-trellis-img-2\" loading=\"lazy\" data-trellis-processed=\"1\"\/><\/a><\/figure>\n<p>Investing is sometimes about luck but also being able to stay in the game. And very often, it is about seeing something and learning the right lessons. <\/p>\n<p>It is also very psychological. Sometimes, we lament we made poor investments but it\u2019s not the investment\u2019s fault.<\/p>\n<p>Sometimes it is we set our expectations so lofty due to how we interpret it, position them based on our interpretations. We set ourselves up for disappointments. <\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><a href=\"https:\/\/t.me\/investmentmoats\"><img loading=\"lazy\" decoding=\"async\" width=\"366\" height=\"88\" src=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2021\/08\/telegram-button.png\" alt=\"\" class=\"wp-image-14188\" srcset=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2021\/08\/telegram-button.png 366w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2021\/08\/telegram-button-300x72.png 300w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2021\/08\/telegram-button-360x88.png 360w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2021\/08\/telegram-button-335x81.png 335w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2021\/08\/telegram-button-347x83.png 347w\" sizes=\"auto, (max-width: 366px) 100vw, 366px\"\/><img loading=\"lazy\" decoding=\"async\" width=\"366\" height=\"88\" src=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2021\/08\/telegram-button.png\" alt=\"\" class=\"wp-image-14188 lazyload\" srcset=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2021\/08\/telegram-button.png 366w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2021\/08\/telegram-button-300x72.png 300w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2021\/08\/telegram-button-360x88.png 360w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2021\/08\/telegram-button-335x81.png 335w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2021\/08\/telegram-button-347x83.png 347w\" sizes=\"auto, (max-width: 366px) 100vw, 366px\" data-pin-media=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2021\/08\/telegram-button.png\" id=\"mv-trellis-img-3\" data-trellis-processed=\"1\"\/><\/a><\/figure>\n<\/div>\n<p>Do\u00a0<a href=\"https:\/\/www.facebook.com\/InvestmentMoats\/\"><strong>Like Me<\/strong><\/a>\u00a0on\u00a0<strong>Facebook<\/strong>. I share some tidbits that are not on the blog post there often. You can also choose to subscribe to my content via<strong>\u00a0the email below<\/strong>.<\/p>\n<p>If you\u2019re thinking of opening an<strong> Interactive Brokers<\/strong> account, <strong><a href=\"https:\/\/ibkr.com\/referral\/lip893\" data-type=\"link\" data-id=\"https:\/\/ibkr.com\/referral\/lip893\">my referral link is here<\/a><\/strong>.<\/p>\n<p>As the new account holder, you\u2019ll receive USD 1 in IBKR stock for every USD 100 you deposit, up to USD 1,000 in shares \u2014 so a USD 10,000 deposit gets you USD 100 in IBKR stock, and the bonus is capped at USD 1,000 for deposits of USD 100,000 or more. A few other things to know: the minimum deposit to qualify is USD 10,000, done within 30 days of opening, and the bonus shares are locked up for one year from the award date. The promotion is currently active, and using the link costs you nothing extra. On a separate note, if you haven\u2019t already, it\u2019s worth taking a look at how IBKR\u2019s share price has performed over the past five years \u2014 the stock you receive as a bonus isn\u2019t just a token; it\u2019s a stake in a company that has done quite well for its shareholders.<\/p>\n<p>I break down my resources according to these topics:<\/p>\n<ol class=\"wp-block-list\">\n<li><a href=\"https:\/\/investmentmoats.com\/managing-kyith-personal-notes\/\" data-type=\"link\" data-id=\"https:\/\/investmentmoats.com\/managing-kyith-personal-notes\/\">All my personal notes<\/a> about how my philosophy behind my own money and how I manage it.<\/li>\n<li><a href=\"https:\/\/investmentmoats.com\/wealth-foundation\/\">Building Your Wealth Foundation<\/a>\u00a0\u2013 If you know and apply these simple financial concepts, your long term wealth should be pretty well managed. Find out what they are<\/li>\n<li><a href=\"https:\/\/investmentmoats.com\/active-investing\/\">Active Investing<\/a>\u00a0\u2013 For active stock investors. My deeper thoughts from my stock investing experience<\/li>\n<li><a href=\"https:\/\/investmentmoats.com\/reits-training-center\/\">Learning about REITs<\/a>\u00a0\u2013 My Free \u201cCourse\u201d on REIT Investing for Beginners and Seasoned Investors<\/li>\n<li><a href=\"https:\/\/investmentmoats.com\/DividendScreener\/DividendScreener.php\">Dividend Stock Tracker \u2013 Track all the common 4-10% yielding dividend stocks in SG<\/a><\/li>\n<li><a href=\"https:\/\/investmentmoats.com\/StockPortfolioTracker\/stockportfolioinvestmenttracker.php\">Free Stock Portfolio Tracking Google Sheets that many love<\/a><\/li>\n<li><a href=\"https:\/\/investmentmoats.com\/budgeting\/retirement-planning\/planning-your-retirement-right-now\/\">Retirement Planning, Financial Independence and Spending down money<\/a>\u00a0\u2013 My deep dive into how much you need to achieve these, and the different ways you can be financially free<\/li>\n<li><a href=\"https:\/\/providend.com\/about\/\">Providend <\/a>\u2013 Where I work and do research. Fee-Only Advisory. No Commissions. Financial Independence Advisers and Retirement Specialists. No charge for the first meeting to understand how it works<\/li>\n<\/ol>\n<div class=\"abh_box abh_box_down abh_box_business\">\n<div class=\"abh_tab_content\">\n<section class=\"vcard author abh_about_tab abh_tab\" itemscope=\"\" itemprop=\"author\" itemtype=\"https:\/\/schema.org\/Person\" style=\"display:block\">\n<div class=\"abh_image\" itemscope=\"\" itemtype=\"https:\/\/schema.org\/ImageObject\"><a href=\"https:\/\/investmentmoats.com\" class=\"url\" target=\"_blank\" title=\"Kyith\" rel=\"nofollow\"> <img loading=\"lazy\" decoding=\"async\" alt=\"Kyith\" src=\"https:\/\/secure.gravatar.com\/avatar\/890153f982ca7f3ebad7a6aae66e6a7e1aff9c4e4039389840653b8ae2b775a7?s=250&amp;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/890153f982ca7f3ebad7a6aae66e6a7e1aff9c4e4039389840653b8ae2b775a7?s=500&amp;r=g 2x\" class=\"avatar avatar-250 photo\" height=\"250\" width=\"250\"\/><img decoding=\"async\" alt=\"Kyith\" src=\"https:\/\/secure.gravatar.com\/avatar\/890153f982ca7f3ebad7a6aae66e6a7e1aff9c4e4039389840653b8ae2b775a7?s=250&amp;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/890153f982ca7f3ebad7a6aae66e6a7e1aff9c4e4039389840653b8ae2b775a7?s=500&amp;r=g 2x\" class=\"avatar avatar-250 photo lazyload\" height=\"250\" width=\"250\" loading=\"lazy\" data-trellis-processed=\"1\"\/><\/a> <\/div>\n<div class=\"abh_text\">\n<div class=\"description note abh_description\" itemprop=\"description\">\n<p>Kyith is the Owner and Sole Writer behind Investment Moats. Readers tune in to Investment Moats to learn and build stronger, firmer wealth foundations, how to have a Passive investment strategy, know more about investing in REITs and the nuts and bolts of Active Investing.<\/p>\n<p>Readers also follow Kyith to learn how to plan well for Financial Security and Financial Independence.<\/p>\n<p>Kyith worked as an IT operations engineer from 2004 to 2019. Currently, he works as a Senior Solutions Specialist in Fee-only Wealth Advisory Firm Providend. All opinions on Investment Moats are his own and does not represent the views of Providend.<\/p>\n<p>You can view <a href=\"https:\/\/investmentmoats.com\/StockPortfolioTracker\/stockportfolioinvestmenttracker.php\"><b>Kyith&#8217;s current portfolio here<\/b><\/a>, which uses his <a href=\"https:\/\/investmentmoats.com\/stock-market-commentary\/portfolio-management\/introducing-our-free-stock-portfolio-tracker-spreadsheet\/\"><b>Free Google Stock Portfolio Tracker<\/b><\/a>. <\/p>\n<p>His investment broker of choice is <a href=\"https:\/\/www.interactivebrokers.com.sg\/mkt\/?src=imoats3\"><b>Interactive Brokers<\/b><\/a>, which allows him to invest in securities from different exchanges all over the world, at very low commission rates, without custodian fees, near spot currency rates.<\/p>\n<p>You can read more <a href=\"https:\/\/investmentmoats.com\/about\/\">about Kyith here<\/a>.<\/p>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"abh_posts_tab abh_tab\">\n<div class=\"abh_image\"><a href=\"https:\/\/investmentmoats.com\" class=\"url\" target=\"_blank\" title=\"Kyith\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" alt=\"Kyith\" src=\"https:\/\/secure.gravatar.com\/avatar\/890153f982ca7f3ebad7a6aae66e6a7e1aff9c4e4039389840653b8ae2b775a7?s=250&amp;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/890153f982ca7f3ebad7a6aae66e6a7e1aff9c4e4039389840653b8ae2b775a7?s=500&amp;r=g 2x\" class=\"avatar avatar-250 photo\" height=\"250\" width=\"250\"\/><img decoding=\"async\" alt=\"Kyith\" src=\"https:\/\/secure.gravatar.com\/avatar\/890153f982ca7f3ebad7a6aae66e6a7e1aff9c4e4039389840653b8ae2b775a7?s=250&amp;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/890153f982ca7f3ebad7a6aae66e6a7e1aff9c4e4039389840653b8ae2b775a7?s=500&amp;r=g 2x\" class=\"avatar avatar-250 photo lazyload\" height=\"250\" width=\"250\" loading=\"lazy\" data-trellis-processed=\"1\"\/><\/a><\/div>\n<\/section>\n<\/div><\/div>\n<aside class=\"mashsb-container mashsb-main mashsb-stretched\">\n                <\/aside>\n<p>            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\t\t\t<\/div>\n<p><script>(function(d, s, id) {\n  var js, fjs = d.getElementsByTagName(s)[0];\n  if (d.getElementById(id)) return;\n  js = d.createElement(s); js.id = id;\n  js.src = \\\"\/\/connect.facebook.net\/en_US\/all.js#xfbml=1&amp;appId=138893592824587\\\";\n  fjs.parentNode.insertBefore(js, fjs);\n}(document, \\'script\\', \\'facebook-jssdk\\'));<\/script><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>I was taking a look at the iShares MSCI World Mid-Cap Equal Weighted UCITS ETF (ticker: IWSZ) while trying to answer a reader question regarding my last post that is pretty much equal weight centered: And I sort of layered a few total return (price gains + dividends) charts together and sort of notice the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7025324,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[96],"tags":[14525,5508,10910,11223,37679,37457],"dealstore":[],"offerexpiration":[],"class_list":["post-7025323","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing","tag-changed","tag-early","tag-investment","tag-investors","tag-moats","tag-noticed"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Everything Changed in Early 2023. Wonder how many Investors noticed. \u2013 Investment Moats - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=7025323\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Everything Changed in Early 2023. 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