Summary

• The Russell 2000 has been the leadership story of June. Through the early sessions of the month, the index gained roughly 14.2 percent year to date.
• On a one-year basis, the divergence is even sharper, with the Russell 2000 returning roughly 43.1 percent against 28.8 percent for the Russell 1000.
• Volatility in the small-cap complex has remained elevated relative to large cap, with the Russell 2000 Volatility Index at 25.96 on June 11.

The Russell 2000 has been the leadership story of June. Through the early sessions of the month, the index gained roughly 14.2 percent year to date, outpacing the Nasdaq Composite at 8.3 percent, the Dow Jones Industrial Average at