Small-cap ETFs keep the rally going

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Small-cap exchange-traded funds surged on Thursday, extending a winning streak that’s lasted several months. Small-cap funds with a growth tilt were the big winners: the iShares Morningstar Small-Cap Growth ETF was up 1.2% midday, and the iShares Russell 2000 Growth ETF gained 1%. The Schwab U.S. Small-Cap ETF was up 0.5%, and the Vanguard S&P Small-Cap 600 ETF gained 0.4%. In contrast, the S&P 500 was up 0.4% Thursday. Small-caps have gained as investors have seen bigger companies as increasingly expensive, and looked for opportunity among some of the laggards of the year. In the past three months, these four funds have gained from 26% – 30%, versus a 10.6% rise for the S&P 500.
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