Financial services and energy sector returns in July belied their year-to-date status in the Russell 3000 index, according to Russell Investments.
The financial services sector gained 6.4% in July, though the year-to-date return was -21.3%. The energy sector lost 18.1% for the month, but was up 2.2% year-to-date July 31.
Value investors also got a boost in July as financial services took the lead. In a complete reversal from the month of June, value stocks at every market capitalization tier outperformed their growth counterparts, reads the release.
In the Russell 1000, 56 financial services firms gained more than 10% for July while 67 stocks in the energy sector lost more than 20%. Bank of America was up 37.8% and Wells Fargo gained 27.5%.