Market performance
Small caps tell us more
The Russell 2000 Index provides live index tracking data, with historical performance dating back to January 1984. Academic and practitioner research confirms that large-cap stocks behave differently than small-cap stocks. And performance is variable. There are sub-periods during which the Russell 1000 outperforms the Russell 2000 and vice versa. Quarterly performance assessment provides valuable datapoints for understanding market sentiment and US economic activity.
Exhibit 1: Market cap performance
Annual return (%)
Exhibit 2: Performance — growth of a unit
Total return (Growth of 1,000) - 10 years (as of 12/31/2022)
Exhibit 3: Market cap performance
Total return (%) (as of 12/31/2022)
Exhibit 4: Style performance
Total return (%) (as of 12/31/2022)
Exhibit 5: Style box performance
Total return (%) (as of 12/31/2022)
Exhibit 5: Style box performance
Total return (%) (as of 12/31/2022)