Small-cap ETFs take a big step higher

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Exchange-traded funds with exposure to smaller companies rallied Wednesday as investors turned back to stocks that haven’t participated as much in 2020’s big run-up. The iShares Russell 2000 ETF
IWM,
+1.32%,
the Schwab U.S. Small-Cap ETF
SCHA,
+1.15%,
and the SPDR Portfolio S&P 600 Small Cap ETF
SPSM,
+1.26%
were all up 1.1% in the late morning, while the S&P 500
SPX,
+0.35%
gained 0.4%. The small-cap funds were roughly in line with the performance of the Russell 2000
RUT,
+1.07%,
which had declined earlier in the week. Over the past three months, though, the small-cap index has gained 31.5%, the S&P 500 is up 11.2%, and the Nasdaq Composite
COMP,
+0.37%
is up 15.4%.

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