There was a huge divergence between growth and value that took off during the early stage of the pandemic. It was believed that value would improve earlier this year as rates rose. There were stronger value returns earlier in 2021, but the outperformance did not last.
The S&P growth/index ratio and value/index ratios have been within a 5 percent range. Growth is on the high-end of the range and value is on the low-end of the range. Actual performance for the year is the same across growth, value, and the overall index; however, it should be noted that growth will do better in a higher inflation environment.
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