A little over a year ago, I wrote that value stocks were coming back. After trailing growth stocks badly for more than a decade, value beat growth in 2022 and appeared in the ascendancy.
But I jumped the gun. Over the past 12 months, the S&P 500 Value index performed well, returning 15.3%, but the S&P 500 Growth index did far better, gaining 32.5%. The Russell 1000 Value index, which is calculated in a different way and includes midsize stocks, lagged the Russell 1000 Growth index by even more, returning 13.1% to Growth’s 33.5%. (Returns and other data are as of June 30; securities I like are in bold.)
