The trouble with mid-caps and their exchange traded funds (ETFs) is that they don’t get the same coverage in the financial media as the large-caps. Even small-caps get more attention as investors mine through them, hoping to discover a diamond in the rough that will make them rich.

But perhaps it’s time investors give mid-caps a look, because for the last three months, they’ve been handily outperforming both the large- and small-cap ETFs. The mid-cap growth category has been up 13.1% in that time frame. The mid-cap blends are up 11% and mid-cap value is up 9.8%.

Contrast that with the large-cap category, where the values are up 2.2% and growth is up 8.9%. In the small-caps, growth is up 7% while value is up 5.1%.

The latest economic concerns have kept many away from both the smalls and the larges. The Dow and S&P have had a rough year so far, and those track the largest U.S. companies. 

Gary Gordon For ETF Expert noticed "momentum" in the iShares S&P 400 Mid-Cap Growth (IJK) in both February and April. With "cautious optimism," he says one could note that mid-cap is in an uptrend.

Growth has outdone value within the mid-cap arena, but these companies are beating the other sizes across the board, with major mid-cap indicators positive for 2008, and most are above their trend lines. Other mid-cap ETFs that give investors some middle ground:

• iShares Russell Mid-Cap Index Fund (IWR), up 1.9% year-to-date
• Vanguard Mid-Cap (VO), up 1.4% year-to-date
• WisdomTree Mid-Cap Dividend Fund (DON), up 1.9% year-to-date

Tags | Large Caps, Media, Mid-Caps, S&P 500, Small-Caps