The recent equity rally has seen small caps lagging behind, with the Nasdaq Composite outperforming the Russell 2000 by the largest gap since 1999. The Russell 2000 is down 1.57% on the day, about twice the decline of the large-cap indices. Small-caps have performed the worst, with the Micro-Cap ETF $IWC down 12.4% YTD, while the S&P 100 $OEF and Nasdaq 100 $QQQ are up 20%+ YTD. Small-caps now represent less than 4% of the total US equity market. There has been a significant divergence among major index ETFs, with small-caps down 3%+ this week while large-caps were up 1-3%. The ratio of US Small Caps to US Large Caps is at its lowest level since December 2000.
Weekly snapshot of US LARGE CAP sectors https://t.co/uNAcbCFvwX
The Ratio of US Small Caps to US Large Caps is at its lowest level since December 2000. $IWM $SPY Video: https://t.co/rFI8ngoqtX https://t.co/2RlJzluRl6
Rare to see this much divergence among major index ETFs. Small-caps down 3%+ this week while large-caps were up 1-3%. https://t.co/dUlvXRgL7S
Ugly divergence this week with S&P up <1% vs R2K -4% and this chart may suggest small caps are in the lead $SPY $IWM https://t.co/JQU8KnmewF
Small-caps now represent less than 4% of the total US equity market. via Jefferies https://t.co/XomHVD2lg6
Market action over the last week nearly perfectly lines up with market action YTD. Small-caps have done the worst, then mid-caps, while large-caps have rallied. The Micro-Cap ETF $IWC is now down 12.4% YTD while the blue-chip S&P 100 $OEF and Nasdaq 100 $QQQ are up 20%+ YTD. https://t.co/0Hs6K3pid6
After sitting in positive territory for the first hour or so of the trading day, the small-cap Russell 2,000 has gotten back to its usual ways this afternoon, now down 1.57% on the day, about twice the decline of the large-cap indices. Groundhog Day for small-caps. https://t.co/EYmrBEnld6
This recent equity rally has left small caps behind. The Nasdaq Composite has outperformed the Russell 2000 by the largest gap since 1999, the lead-up to the Dot-Com bubble. Can it be a new bull market without small caps participating? Trial for more: https://t.co/yYD9RQaWGR https://t.co/sn4mSaEOR7