The stock market lags dozens of countries, in a year of record highs

For only the third time in 10 years, one of America’s most broadly representative stock indexes, the S&P 500, is poised to give up its longtime spot as the world’s top performing stock index.

But drill down deeper, and the scale of the S&P’s underperformance becomes even starker.

Ranked against dozens of other countries’ indexes, the S&P’s annual performance so far is not even among the world’s top 20. Or the top 30, or 40.

With annual returns of 16% through Monday, the S&P lands in 41st place among more than 60 stock indexes around the globe, according to an NBC News analysis.

This number requires a few caveats, however.

The companies in the S&P have created more value so far this year than listings on any other country’s index — more than $7.7 trillion in market value.

That exceeds