Small caps are playing a significant role in leading stocks higher off the February lows. For example, the Russell 2000 Index is up nearly 15 percent over the past 90 days, but investors still have some affinity for large- and mega-cap stocks.
Just look at the Rydex Russell Top 50 ETF (NYSE: XLG). That exchange-traded fund is higher by almost 13 percent over the past three months, and XLG was one of just 22 ETFs to hit all-time highs on Wednesday. The $617.7 million XLG is just a couple of weeks shy of its eleventh anniversary. As its name implies, the ETF holds the 50 largest stocks in the S&P 500.
The Indices
XLG previously followed the Russell Top 50 Mega Cap Index, which is comprised of the 50 largest ...
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