- Small-caps are outperforming and have outperformed on an absolute basis since last fall, really around November 1, 2020.
- The big date last fall was September 2nd, 2020, when many of the mega-cap stocks peaked like Apple, Amazon, Microsoft, Google, etc., although Microsoft and Google have gone on to make new all-time-highs.
- When discussing index returns with clients at performance meetings in January, February '21, what struck me was the disparity between the Russell 1000 Growth index return of 20.32%, and the Russell 1000 Value index return of 1.92%.
For further details see:
Style-Box Analysis: Watch The Rotation From Large-Cap To Small-Cap