Q1 2021 represented a reversal of 2020 returns. US Small Company Value stocks, as measured by the Russell 2000 Value Index, did 21.17%. Keep in mind that is 21.17% in just 3 months. The S&P 500, which primarily represents Large US companies, was up 6.17%. Small Cap Value stocks were some of the lagging performers for the calendar year 2020, and many “experts” recommended pushing more into large tech stocks as 2020 came to an end, claiming that the world had fundamentally changed. Investors who dumped (or underweighted) Small Cap Value stocks or funds at the end of 2020 would have missed out on a huge quarter. This would have been an easy trap to fall into if an investor was simply picking funds based on the last 1, 3, 5 or even 10 year performance.