🔎 No Hope for Small Caps

April 29, 2025

📊 Daily ETF Overview

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We continue to see small caps stuck deep in the red, while large caps remain firmly in the green.

This isn’t surprising — it’s part of a well-established secular trend — but it’s worth highlighting again.

Small Caps ($IWM) look terrible, and there's little hope for a turnaround anytime soon. Just look at how brutally the small-cap ratio has been crushed.

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Even with money flowing out of growth stocks — the very names that drive the large-cap indexes — small caps are still breaking to new lows.

If they couldn’t outperform when tech was getting hit, what are the odds they’ll ever outperform?

It's a bleak outlook for America's small stocks.