Value and Volatility were the driving factors. Each spread for the two factors was at least one standard deviation from its average. Low Volatility stocks outperformed high Volatility stocks by over 5.00% in each index. The low Volatility spread was greatest in the large and mid cap indices.

Size was the most influential factor last week. The Size factor was negative as smaller companies tended to outperform within each index. The largest ten percent of companies within the Russell MidCap underperformed the smallest ten percent by 1.80%, on average. Size was -1.44% in the Russell 1000 where the factor has a greater influence on the overall index compared to the less capitalized indices.

Weak Value was a major theme last week. Negative Value spreads occurred within each index. The stocks with the most attractive Value rankings underperformed those with the weakest rankings by 3.20% in the Russell MidCap index. Value spreads were greater than -2.00 in both the small and large cap indices. Each Value return was greater than one standard deviation below its weekly average.