This chart plots monthly total returns for the IGV, the iShares Expanded Tech-Software Sector ETF, going back to 2001. May 2026 stands out, with the fund returning about 21.2%, its strongest month since October 2001 and the second best of 298 monthly readings on record. It captures how powerful the May surge in software was, as enthusiasm around enterprise AI spending lifted the group. The scale of the move is a reminder of both the momentum behind the trade and how far sentiment has traveled in a short time.
Source: Bloomberg