根据FactSet的数据，罗素2000指数——衡量美国小盘股表现的指标——在11月迄今已上涨11.2%，预计将创下自去年12月以来的最大单月涨幅。总体来看，小盘股正在逐步赶上标普500指数（S&P 500）自年初以来的涨幅。E-mini Russell 2000 Index In November, it surged by 11.2%, marking the largest monthly increase of the year, and is just one step away from the historical high.
The e-mini russell 2000 index (Russell 2000), which is mainly composed of small cap stocks, has achieved a double-digit percentage increase so far in November.
On Monday, the rise of small cap stocks approached historical highs, poised to set the largest monthly increase of the year. Due to the Thanksgiving holiday, trading hours are shortened this week as investors are preparing to close out November.
According to FactSet's data, the e-mini russell 2000 index - an index measuring the performance of small cap stocks in the USA - has already risen by 11.2% so far in November, expected to achieve the largest single-month increase since December of last year. Overall, small cap stocks are gradually catching up with the gains of the s&p 500 index since the beginning of the year.
FactSet data shows that the November increase of the e-mini russell 2000 index far surpasses the 4.9% increase of the s&p 500 index in the same month. Recently, small cap stocks have been boosted by investor expectations, believing that the policies of the elected president, Trump, will promote economic growth, partially driven by anticipated tax cuts.
According to Morningstar Indexes strategist Dan Lefkovitz's report earlier this month, small cap stocks are mainly focused on market sectors that are "domestically oriented and economically sensitive," including financial services, basic materials, consumer cyclicals, and real estate, which are considered likely to perform well under the Trump administration policies.
In the days following the presidential election on November 5th, analysts at Jefferies pointed out in a stock report that the trend of interest rates will determine the sustainability of the post-election rally in small cap stocks.
On Monday, bond market interest rates decreased. According to Dow Jones market data, as of 3 p.m. Eastern time, the 10-year Treasury bond yield - a benchmark interest rate for stock valuations - fell by 14.7 basis points to 4.262%, marking the largest single-day decline since August 2.
As bond yields fell, small-cap stocks rebounded significantly on Monday. FactSet data shows that the Russell 2000 Index rose by 1.5% to close at 2442.03 points. This increase exceeded the moderate 0.3% increase of the S&P 500 on the same day, bringing the Russell 2000 Index close to its historical closing high of 2442.74 points set on November 8, 2021.
Meanwhile, the S&P 500 Index has set multiple new historical highs this year, recording its 51st all-time high closing price on November 11, 2024.
According to Dow Jones market data, historical data indicates that the e-mini Russell 2000 Index may further rise in December. The average return rate for the e-mini Russell 2000 Index in December is 2.8%, making it the best-performing month of the year.
Despite the e-mini Russell 2000 Index's year-to-date gain of about 5 percentage points lower than the S&P 500's 25.5%, exchange-traded funds (ETFs) focusing on small-cap growth sectors have performed more closely to the S&P 500's gain.
According to FactSet data, as of Monday, Vanguard Small-Cap Growth ETF tracking the U.S. small-cap growth stock index has risen by 24.8% this year, while iShares Russell 2000 Growth ETF has risen by 24.7% during the same period.
