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‌

7/9/2026

Why the Fed’s July Meeting Matters More for Small Caps Than Anyone Else

The Russell 2000 has gained 33.8% over the past twelve months, comfortably beating the S&P 500’s 20% return, and just posted its best first-half performance since 1991. That’s the headline every small-cap investor has been celebrating. The number underneath it tells a different story.

3 min read