By Matthew Ziehl, CFA, Portfolio Manager; Adam Weiner Portfolio Manager and Jason Farrell, CFA, Product Director
Small-cap stocks have outperformed large caps since this year's market low, perhaps a sign of a historical pattern.
Small-cap stocks have had a tough run versus the larger-cap cohort of the US equity market, having underperformed large caps three consecutive calendar years and four of the past five years (on the basis of the Russell 2000 Index representing small caps, and the Russell 1000 Index, large caps). After a tough start to 2020, things have improved for small