{"id":8993,"date":"2019-05-12T14:24:32","date_gmt":"2019-05-12T14:24:32","guid":{"rendered":"https:\/\/fundamentalis.com\/?p=8993"},"modified":"2019-05-12T14:24:32","modified_gmt":"2019-05-12T14:24:32","slug":"style-box-update-small-and-mid-cap-value-closes-performance-gap-vs-growth","status":"publish","type":"post","link":"https:\/\/fundamentalis.com\/?p=8993","title":{"rendered":"Style Box Update: Small and Mid-Cap &#8220;Value&#8221; Closes Performance Gap vs Growth"},"content":{"rendered":"<figure id=\"attachment_8994\" aria-describedby=\"caption-attachment-8994\" style=\"width: 300px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/fundamentalis.com\/?attachment_id=8994\" rel=\"attachment wp-att-8994\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-8994\" src=\"https:\/\/fundamentalis.com\/wp-content\/uploads\/stylebox51019-300x144.png\" alt=\"\" width=\"300\" height=\"144\" srcset=\"https:\/\/fundamentalis.com\/wp-content\/uploads\/stylebox51019-300x144.png 300w, https:\/\/fundamentalis.com\/wp-content\/uploads\/stylebox51019-768x370.png 768w, https:\/\/fundamentalis.com\/wp-content\/uploads\/stylebox51019-1024x493.png 1024w, https:\/\/fundamentalis.com\/wp-content\/uploads\/stylebox51019.png 1358w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><figcaption id=\"caption-attachment-8994\" class=\"wp-caption-text\">click to enhance \/ enlarge<\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n<p>&#8220;Value&#8221; hasn&#8217;t significantly outperformed &#8220;Growth&#8221; since 2016 and even then it was only for a year or so.<\/p>\n<p>Is now the time where Value investing comes back in vogue ?<\/p>\n<p>Small and mid-cap value sub-sectors are starting to perform better relative to growth. For large-cap, the Growth out-performance is still material (i.e. 200 bp&#8217;s YTD as of 5\/10\/19).<\/p>\n<p>Here is the <a href=\"https:\/\/fundamentalis.com\/?p=8830\">early April &#8217;19 Style Box Update<\/a> and then <a href=\"https:\/\/fundamentalis.com\/?p=8703\">the mid-February &#8217;19 update<\/a>.<\/p>\n<p><em><strong>Summary \/ conclusion: <\/strong><\/em>The consistent theme for the first 4 &#8211; 5 months of 2019 is that small and mid-cap value have been narrowing the performance differential over growth, but it&#8217;s been a slow transition.\u00a0 The last decent correction that ended in Q1 &#8217;16 saw large-cap growth outperform substantially. With the correction of Q4 &#8217;18, perhaps now value starts to reassert itself.<\/p>\n<p>Thanks for reading.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; &#8220;Value&#8221; hasn&#8217;t significantly outperformed &#8220;Growth&#8221; since 2016 and even then it was only for a year or so. Is&hellip;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[142],"tags":[],"class_list":["post-8993","post","type-post","status-publish","format-standard","hentry","category-style-analysis"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/posts\/8993","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8993"}],"version-history":[{"count":2,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/posts\/8993\/revisions"}],"predecessor-version":[{"id":8996,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/posts\/8993\/revisions\/8996"}],"wp:attachment":[{"href":"https:\/\/fundamentalis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}