While the strategies are quite similar in many ways, a deeper dive reveals some subtle differences intended to satisfy clients with varying risk tolerances and portfolio structures.


The primary benchmark for US Small Cap Growth is the Russell 2000 Growth Index. US Small Cap is benchmarked against the Russell 2000 Index.

Portfolio characteristics

Small Cap Growth may have higher volatility than Small Cap.  It may tolerate higher valuation risk and somewhat lower earnings quality.

Performance attribution

Small Cap Growth returns are expected to derive predominantly from earnings growth. Small Cap will likely see greater contributions from valuation expansion and dividends.

Portfolio role

Clients allocating to style specialists will appreciate how well Small Cap Growth complements small cap value strategies.  Small Cap offers a single portfolio solution to diversify US large cap exposure.