Year-to-date, small-cap stocks that are turning a profit are continuing to outpace those that are not, which is a significant reversal from the upside-down market dynamics we witnessed last year. For the purpose of this comparison, profitable companies are defined as those with trailing 12-month earnings per share greater than $0.

Source: Bloomberg, as of 2/20/2026. Please be aware that indexes are unmanaged, do not incur management fees, costs, and expenses, and cannot be invested in directly. Past performance is no guarantee of future results.