Small-cap stocks and ETFs are attempting to shed their laggard status as highlighted by a batch of US-focused small-cap ETFs hitting all-time highs Wednesday.

That group included the PowerShares DWA SmallCap Momentum Portfolio (NasdaqGM: DWAS), which gained 3% on more than double the average daily volume.

DWAS, which is more than five years old, follows the popular Dorsey, Wright & Associates proprietary selection methodology that is designed to identify small-cap firms with positive relative strength characteristics in an attempt to follow companies with strong forward momentum. The ETF is now up 16% year-to-date, good for one of the best performances among U.S. small-cap ETFs.

Furthermore, small-cap stocks were strengthening as traders renewed their outlook on the Trump administration’s pro-growth agenda. In recent weeks, U.S. markets have been roiled over uncertainty concerning President Donald Trump’s ability to push through pro-growth economic policies through Congress as the White House wades through political intrigue. However, the small-cap segment is recovering on expectations that the administration could overhaul the U.S. tax policy.

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