Trading Calendar presents full-year and monthly cumulative performance profiles for the overall stock market (S&P 500 Index) based on its average daily behavior. How much do the corresponding monthly behaviors of the various size and value/growth styles deviate from an overall equity market profile? To investigate, we consider the the following six exchange-traded funds (ETF) that cut across capitalization (large, medium and small) and value versus growth:
iShares Russell 1000 Value Index (IWD) - large capitalization value stocks.
iShares Russell 1000 Growth Index (IWF) - large capitalization growth stocks.
iShares Russell Midcap Value Index (IWS) - mid-capitalization value stocks.
iShares Russell Midcap Growth Index (IWP) - mid-capitalization growth stocks.
iShares Russell 2000 Value Index (IWN) - small capitalization value stocks.
iShares Russell 2000 Growth Index (IWO) - small capitalization growth stocks.
Using monthly dividend-adjusted closing prices for the style ETFs and SPDR S&P 500 (SPY) during August 2001 through June 2026 (limited by data for IWS/IWP), we find that:
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