Across our sector universe, we're seeing an emerging rotation into small cap sector ETFs.
While it's still early days, this is a key dynamic to watch because it could define the next leg of market leadership. With the way the Russell 2000 Small Cap ETF $IWM looks relative to Large Caps $SPY, it's looking like small caps will outperform into the back half of the year.
For a bull market that's maturing, it's unsurprising to see rotation down into the speculative end.
