I have a mixture of stocks, and spend more time watching the growth stocks more than the value ones for the simple reason that the former are more volatile and selling options on them makes good income.
And I observe that defensive stocks such as utilities and consumer staples stocks have beaten the S&P YTD. Going back 2 years, they are all about equal.
This should not be surprising, given the widely known fact about investors been preparing for an economy slow down. They certainly have shifted to a more defensive posture.
What comes next is of course unknown. Have all the misgivings been baked into the price, such that the defensive stocks cannot go up more? Or do they have more to run?
Even if one is broadly diversified, for me it is more fun to own individual market segments instead of the whole market index. You get to see what goes into the sausage making. I always find it interesting how investors shift their money here and there. And if you could front run them a little to pick up a bit more, it's that much more fun.