The Bloomberg New Constructs Core Earnings Leaders Index (ticker: BCORET:IND) turned 1-year old on October 1, 2025. Its performance over the past year is impressive, to say the least. The Core Earnings Leaders Index, which invests in stocks based on Earnings Capture and Core Earnings, leverages the same AI-driven research that powers our new AI-Agent for Investing that we built with Google Cloud.
The performance of The Core Earnings Leaders Index speaks for itself. The Index beat the S&P 500 by over 9% in its first year! The Index was up 26% while the S&P 500 was up 18%. That’s no small feat!
Figure 1: Bloomberg New Constructs Core Earnings Leaders Index Vs. S&P 500: 1 Year Performance
Sources: Bloomberg as of October 1, 2025
Note: Past performance is no guarantee of future results.
The Core Earnings Leaders Index performs even better year-to-date (YTD) and beats the S&P 500 by 12%. The Index is up 26% while the S&P 500 is up 14% YTD through October 2, 2025.
Figure 2: Bloomberg New Constructs Core Earnings Leaders Index Vs. S&P 500: YTD Through 10/2/25
Sources: Bloomberg as of October 2, 2025
Note: Past performance is no guarantee of future results.
The outperformance of the Core Earnings Leaders Index is a strong proof point in the SLM vs. LLM argument. SLMs concentrate on more narrow, well-defined domains, where human experts can carefully curate high-quality datasets and build deterministic rules that produce reliable human-expert-level insights.
We’re able to empirically prove the accuracy and reliability of our SLM because it is based on:
- Publicly available data in financial filings,
- Systematically gathering data into proprietary taxonomies that support an ontology that produces
- Metrics and signals whose accuracy can be measured objectively by stock market performance.
For more details on why SLMs perform much better than large language models (LLMs) on tasks that require subject matter expertise, read our report Thinking Small Drives Big Leaps in AI.
Note that these indices are not available to the public. The only way to take advantage of our industry leading SLM AI that achieves this kind of outperformance is to be a New Constructs member.
This article was originally published on October 3, 2025.
Disclosure: David Trainer, Kyle Guske II, and Hakan Salt receive no compensation to write about any specific stock, style, or theme.
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