Small cap Russell 2000 value index is up 21% this year, thanks to the growing popularity of meme stocks led by AMC and GameStop.
Comparatively, the Russell 2000 growth index, which consists of firms with earnings that are expected to beat the market only rose 5% in the same period. S&P 500 has gained 15% this year.
The surge Russell 2000 value index reflects investors shifts to value stocks this year, snapping up cyclical stocks. The index is designed to include entities with lower price-to-book ratios and lower expected growth.
The surge in Russell 2000 value index means it has outperformed the Russell 2000 growth stock by the biggest margin since 2002.
AMC, which is the biggest in the Russell 2000 value ETF with about $16 billion holdings, has rallied at least 2,000% this year.
iShares Russell 2000 Value ETF: IWM is up +0.78%.
