The benchmark Russell 1000 Growth ETF rose 7.09%, while the strategy rose 8.17%1 net in the quarter. Over the full year, the strategy rose 33.99% vs. the Russell 1000 Growth ETF’s increase of 33.12%. Considering the incredibly concentrated and speculative backdrop to 2024, the L2 team considers this performance a win. We believe our evidence-based process will deliver significant excess returns in the years ahead as more nimble up-and-coming growth companies get the market’s attention.
U.S. equities as measured by the Russell 1000 ETFs experienced a wide divergence in outcomes over the fourth quarter. The Russell 1000 Value ETF fell -1.95%, the Russell Core ETF rose 2.79% while Russell’s Large Cap Growth ETF rose 7.09%.2 Midcap stocks as measured by the Russell Midcap ETF rose 0.65% and 0.40% for the S&P Midcap ETF which tends to favor higher quality names.
L2 US Mid Cap Select Strategy – Q4 2024
Table of contents
When
January 1, 2025
Who
Matthew Malgari
Dr. Sanjeev Bhojraj
Nathan Przybylo
Q4 2024 Fund Performance
The benchmark Russell 1000 Growth ETF rose 7.09%, while the strategy rose 8.17%1 net in the quarter. Over the full year, the strategy rose 33.99% vs. the Russell 1000 Growth ETF’s increase of 33.12%. Considering the incredibly concentrated and speculative backdrop to 2024, the L2 team considers this performance a win. We believe our evidence-based process will deliver significant excess returns in the years ahead as more nimble up-and-coming growth companies get the market’s attention.
Market Overview
U.S. equities as measured by the Russell 1000 ETFs experienced a wide divergence in outcomes over the fourth quarter. The Russell 1000 Value ETF fell -1.95%, the Russell Core ETF rose 2.79% while Russell’s Large Cap Growth ETF rose 7.09%.2 Midcap stocks as measured by the Russell Midcap ETF rose 0.65% and 0.40% for the S&P Midcap ETF which tends to favor higher quality names.