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Year-to-date, investors have yanked just over $3.7 billion from IWM, but roughly the same amount has flowed into IJR. IWM is the better performer of the two small-cap ETFs with a 3.3% year-to-date gain.
Possibly weighing on small-cap are expectations for better earnings growth and strength from larger companies.
“The number of companies in the main US equity benchmark that are revising future profits higher is outpacing those making downward adjustments by the most since 2012. Looking at this same measure for the Russell 2000, the small-cap gauge is underperforming the S&P 500 by the most in two years, according to Morgan Stanley data,” reports Business Insider.
Tom Lydon’s clients own shares of IWM.