SPSM - Style-Box Update Small-Cap And High-Yield And Sector Returns
Nothing has really changed yet in terms of “style-box” returns with Growth outpacing Value and Large-Cap beating Small-Cap.
Late in the week of May 222nd, The CFA Society of Chicago held a webinar with Gina Adams of Bloomberg (one of Bloomberg’s Equity Strategists), which was very informative.
One area of interest Gina covered on the call was the small-cap sector’s out-performance attribution tends to be correlated with high-yield credit out-performance.
Readers should look at the above spreadsheet and note that the last time the smallcap asset class beat large-caps was 2016, which was also a