“Growth stocks have been outperforming value stocks, they have been since the end of Q1 2014, and I don’t see any reason for that to change,” Johnson told CNBC. “I agree that growth stocks are going to continue to work, and that is really where we want to be at this point in time.”
Value stocks have been relatively flat for the year. For instance, year-to-date, iShares S&P 500 Value ETF (NYSEArca: IVE) was up 0.2%, Guggenheim S&P 500 Pure Value ETF (NYSEArca: RPV) dipped 1.7%, Vanguard S&P 500 Value ETF (NYSEArca: VOOV) was 0.3% higher and SPDR S&P 500 Value ETF (NYSEArca: SPYV) was up 0.2%.
The value ETFs lean toward the financial sector, which remains one of the cheapest areas of the market on a price-to-earnings basis, along with a significant position in the downtrodden energy sector.
iShares S&P 500 Growth ETF
For more information on the S&P 500, visit our S&P 500 category.
Max Chen contributed to this article.