Recently, I started looking into how the Mexican stock market is doing in 2026, and honestly, I was pretty surprised. The S&P/BMV IPC is up around 22% over the past 12 months, which is a huge difference compared with the S&P 500, which is only around 5%. So while the U.S. market is calmer, the companies listed on Mexico’s stock exchange are doing an impressive job.

In fact, the Bolsa Mexicana de Valores is the second-largest in Latin America, even though Mexico’s capital markets are still relatively small. There are only around 145 companies listed, but the ones that are there are quite solid. The main index, the S&P/BMV IPC, covers the 35 largest companies and accounts for nearly 80% of the total market value.

What’s interesting is that five companies account for almost half of the entire market capitalization. We’re talking about Walmart de México, América Móvil, Grupo México, FEMSA, and Fresnillo plc. These are the ones that really move the needle. Walmart de México has nearly 950 billion in market capitalization, América Móvil is around 1.38 trillion, and Grupo México leads with 1.56 trillion pesos. These aren’t small numbers.

What caught my attention is that the companies listed on the Mexican stock exchange in sectors like mining, basic consumption, and telecommunications are the ones pulling the cart. Grupo México, with its mining division; América Móvil, in telecom with its 323 million users; and Walmart de México in retail. FEMSA is also there as the world’s largest Coca-Cola bottler. Fresnillo plc, the world’s largest producer of primary silver, closed 2025 with revenues of 4561 million dollars—nothing to complain about.

The macroeconomic backdrop is complicated, of course. Inflation is hovering around 4.5-4.6% annually, U.S. tariffs caused initial volatility, and there’s all the political drama with Trump. But Mexico has shown resilience thanks to nearshoring, remittances, and a peso that trades in a relatively narrow range of 17.30-17.80 per dollar. That has helped companies on the stock exchange keep costs more controlled.

Right now, the index moves between 68,000 and 70,000 points, slightly below the February highs of 72,000. But considering everything happening globally, the performance is solid. The companies listed on the Mexican stock exchange have shown that they can grow even in a difficult environment.

For anyone who has everything in the United States, 2026 is a good time to rethink things. A diversified portfolio that combines Mexican stocks in mining, basic consumption, and telecommunications, along with some exposure to local bonds, could be an interesting strategy. The Mexican market isn’t the biggest, but it’s definitely offering opportunities worth considering at the moment.