Earnings yield vs bonds drags all 10 — 10 of 10. Expected 6m returns all negative, -13.6% to -8.7%, median conf 87. Consumer cyclical and healthcare show up multiple times, but the common thread is ra

Fast Retailing Co., Ltd. ($9983.T) consumer cyclical worst at -13.6%, conf 89; 12mo momentum and illiquidity pile on. Sompo Holdings, Inc. ($8630.T) financials -13.0%, conf 88; the only positive driver here is 12mo momentum +0.0105, but earnings yield vs bonds dominates. Takeda Pharmaceutical Company Limited ($4502.T) healthcare -11.8%, conf 86; deepest earnings-yield hit -0.0919 plus downside risk. Mitsubishi Heavy Industries, Ltd. ($7011.T) industrials -10.8%, conf 90; sector rank 2 but 6mo momentum and illiquidity add drag. HOYA Corporation ($7741.T) healthcare -10.3%, conf 82; low-conf outlier, sector rank 15, smaller earnings-yield damage but no offset. Aeon Co., Ltd. ($8267.T) consumer cyclical -10.2%, conf 87; positive 12mo momentum +0.0195 fights negative 6mo momentum, earnings yield wins. Shin-Etsu Chemical Co., Ltd. ($4063.T) basic materials -9.6%, conf 88; adds SPY-relative alpha drag -0.0126 on top of momentum. Teijin Limited ($3401.T) industrials -9.1%, conf 89; positive i

Fast Retailing Co., Ltd. ($9983.T) consumer cyclical worst at -13.6%, conf 89; 12mo momentum and illiquidity pile on. Sompo Holdings, Inc. ($8630.T) financials -13.0%, conf 88; the only positive drive