Risky option
Another option may prove appealing for investors who are concerned about US equities looking expensive. Threadneedle American Extended Alpha sits toward the bottom of our table, but has an extra weapon in its arsenal: the ability to short sell equities. This can prove riskier than long-only investing, but the fund may stand to benefit if the worst happens to markets.
At the end of October the offering had nearly 18 per cent of assets dedicated to short selling, with nearly half of this in the IT sector.
As such, there are still many ways to access a market that has increasingly polarised investors. But at this stage, making the wrong decision may prove costlier than ever.