Market Extra: Small-cap stocks are on a tear—but shares in tiny companies have done even better

Much has been made about the outperformance of small-capitalization stocks as fears about global trade have intensified, but a subset of small-cap equities has produced even more stellar results this year.

The Russell Microcap Index RUMIC, -0.46% which is a benchmark of companies with an average market value of about $730 million, has gained 14% so far in 2018, as of Wednesday’s close, that compares with a year-to-date advance of 11.1% for the Russell 2000 index RUT, -0.51% which has a roster of companies with an average market value of $2.6 billion.

Both are trading in record territory, with the Russell Microcap putting in a 24th all-time high for 2018.

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