Value investors had a hard time in 2018 watching their holdings fall much more than the overall US market: Value and small value have strongly outperformed the overall US market and the momentum factor ETF thus far in 2019.
2019 ytd (Momentum in black,value in gold, small value in blue, total US market in green) Performance top volatility bottom in bar chart.
This is in sharp contrast to 2018 where value stocks had larger losses than the total market or momenetum.
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