The Russell stock indexes posted across-the-board gains during the third quarter as small stocks beat large stocks and growth stocks outperformed value stocks, according to Frank Russell Co., Tacoma, Wash.
The Russell 3000 index was up 5.3% for the quarter ended Sept. 30, and 0.72% for the first nine months of the year. (All data is total return, including dividends.)
The Russell 1000 index of large company stocks was up 5.12% for the quarter and 0.77% for the nine months.
The Russell 2000 index of small company stocks returned 6.94% for the quarter and 0.05% for the nine months.
This quarter marked the seventh time in the last eight quarters that smaller stocks outperformed larger ones.
"The strong performance of technology and health-care stocks fueled advances in all Russell indexes this quarter," said Paul Greenwood, senior research analyst, Frank Russell Co. "Interest-sensitive issues fared poorly in the face of rising interest rates."
By contrast, the Standard & Poor's 500 stock index was up 4.92% for the quarter and 1.32% for the nine months.
The Russell 1000 Growth Index increased 7.69% for the quarter and 1.89% for the nine months, while the Russell 1000 Value Index was up 2.55% for the quarter and down 0.41% for the nine months.
The Russell 2000 Growth Index was up 9.32% for the quarter and down 1.7% for the nine months, while the Russell 2000 Value Index was up 4.73% for the quarter and 1.46% for the nine months.