--- title: [Chart of the Month] The Market is Roughly Flat Over Past 12 Months description: With everything that’s happened over the past year, it’s hard to believe large cap stocks are flat. Small caps, however, are a different story. image: https://insights.danainvestment.com/hubfs/Blog%20Images/Dana-Blog-42-LinkedIn.png --- - [Home](https://www.danainvestment.com/) - About Us - [Who We Are](https://www.danainvestment.com/who-we-are/) - [Who We Serve](https://www.danainvestment.com/who-we-serve/) - [Our Responsibilities](https://www.danainvestment.com/our-responsibilities/) - [Meet The Team](https://www.danainvestment.com/meet-the-team/) - [History](https://www.danainvestment.com/history/) - [Awards](https://www.danainvestment.com/awards/) - Our Services - [Overview](https://www.danainvestment.com/overview/) - [Equity Strategies](https://www.danainvestment.com/strategy-assignment/equity-strategies/) - [Fixed Income Strategies](https://www.danainvestment.com/strategy-assignment/fixed-income-strategies/) - [Wealth Management](https://www.danainvestment.com/strategy-assignment/wealth-management/) - Insights - [The Dana Viewpoint](https://www.danainvestment.com/category/the-dana-viewpoint/) - [News & Updates](https://www.danainvestment.com/content-library-category/news-updates/) - [Content Library](https://www.danainvestment.com/content-library-category/content-library/) - [Resources](https://www.danainvestment.com/resources/) - [Contact](https://www.danainvestment.com/contact/) - [Stay Informed](https://www.danainvestment.com/stay-informed/) [![Dana Investment](https://insights.danainvestment.com/hs-fs/hubfs/raw_assets/public/DanaInvestment_May2023/images/mobile-logo.png?width=300&height=76&name=mobile-logo.png "Dana Investment")](https://www.danainvestment.com/) - About Us - [Who We Are](https://www.danainvestment.com/who-we-are/) - [Who We Serve](https://www.danainvestment.com/who-we-serve/) - [Our Responsibilities](https://www.danainvestment.com/our-responsibilities/) - [Meet The Team](https://www.danainvestment.com/meet-the-team/) - [History](https://www.danainvestment.com/history/) - [Awards](https://www.danainvestment.com/awards/) - Our Services - [Overview](https://www.danainvestment.com/overview/) - [Equity Strategies](https://www.danainvestment.com/strategy-assignment/equity-strategies/) - [Fixed Income Strategies](https://www.danainvestment.com/strategy-assignment/fixed-income-strategies/) - [Wealth Management](https://www.danainvestment.com/strategy-assignment/wealth-management/) - Thought Leadership - [Insights](https://insights.danainvestment.com/blog) - [The Dana Viewpoint](https://www.danainvestment.com/category/the-dana-viewpoint/) - [News & Updates](https://www.danainvestment.com/content-library-category/news-updates/) - [Content Library](https://www.danainvestment.com/content-library-category/content-library/) - [Resources](https://www.danainvestment.com/resources/) - [Contact](https://www.danainvestment.com/contact/) - [Stay Informed](https://www.danainvestment.com/stay-informed/) [![Dana Investment Advisors](https://insights.danainvestment.com/hs-fs/hubfs/raw_assets/public/DanaInvestment_May2023/images/header-logo.png?width=300&height=76&name=header-logo.png "Dana Investment Advisors")](https://www.danainvestment.com/) MENU CLOSE ![](https://insights.danainvestment.com/hubfs/raw_assets/public/DanaInvestment_May2023/images/search-image.png) # \[Chart of the Month\] The Market is Roughly Flat Over Past 12 Months Published on Aug 15, 2019, 2:11:42 PM What a ride it’s been. It’s hard to believe that after the fourth quarter’s selloff, the first quarter’s rebound and the recent spike in volatility, the S&P 500 is back to the mid-$2,900 level it was at nearly a year ago. Small cap stocks, however, are a different story. While TV anchors had been opining on large caps hitting all-time highs, it was easy to overlook the fact that small caps (Russell 2000 Index) never got close to reclaiming levels reached in August of last year.   ##### **S&P 500 and Russell 2000 Indices 8/1/18 - 8/7/19** [![S&P500-Investment-Growth](https://insights.danainvestment.com/hs-fs/hubfs/Blog%20Images/S%26P500-Investment-Growth.png?width=600&name=S%26P500-Investment-Growth.png)](https://insights.danainvestment.com/hubfs/Blog%20Images/S%26P500-Investment-Growth.png) *SOURCE: Morningstar Direct* The disconnect between large- and small-cap stocks’ performance can partially be tied to concerns over slowing U.S. economic growth, which tend to disproportionately affect small caps since they are more domestically focused. Investors have also been concerned over the U.S.-China trade war resulting in higher input costs for small-cap companies. Currently, however, small caps present an intriguing value play relative to large caps, since they have effectively gone on sale.   **If you would like to be notified when we release new market insights, please fill out the form on the right, "Stay up to date with current market trends," and we will send you an email.**   [![Download Dana's Process Overview](https://no-cache.hubspot.com/cta/default/4730491/c3d0e46b-b6a8-44c6-acd1-51bd5d9ed9f1.png)](https://cta-redirect.hubspot.com/cta/redirect/4730491/c3d0e46b-b6a8-44c6-acd1-51bd5d9ed9f1)   Tags: [Small Cap](https://insights.danainvestment.com/blog/tag/small-cap), [Large Cap](https://insights.danainvestment.com/blog/tag/large-cap) [Back to Blog](https://insights.danainvestment.com/blog) - [Tweet](https://twitter.com/share) ## Related Articles ## [\[Chart of the Month\] Net Outflows and the Unloved Bull Market](https://insights.danainvestment.com/blog/chart-of-the-month-net-outflows-and-the-unloved-bull-market) When people think of economic recoveries and the bull markets that tend to follow, it’s easy to... [Read More](https://insights.danainvestment.com/blog/chart-of-the-month-net-outflows-and-the-unloved-bull-market) ## [Chart of the Month - How 2019 Volatility Stacks Up Against Prior Years](https://insights.danainvestment.com/blog/chart-of-the-month-how-2019-volatility-stacks-up-against-prior-years) Just when we were getting used to some tranquility in the markets, U.S.-China trade tension reared... [Read More](https://insights.danainvestment.com/blog/chart-of-the-month-how-2019-volatility-stacks-up-against-prior-years) ## [What a difference three months can make….](https://insights.danainvestment.com/blog/what-a-difference-three-months-can-make-) With the turn of a calendar, it appears all fortunes have changed for the better. 2019 has had a... [Read More](https://insights.danainvestment.com/blog/what-a-difference-three-months-can-make-) [![Dana investment Advisors](https://insights.danainvestment.com/hs-fs/hubfs/raw_assets/public/DanaInvestment_May2023/images/footer%20logo.png?width=300&height=76&name=footer%20logo.png "Dana investment Advisors")](https://www.danainvestment.com/) - - © 2026 Dana Investment|[Privacy Policy](https://www.danainvestment.com/privacy-policy) [![Ultra](https://insights.danainvestment.com/hubfs/raw_assets/public/DanaInvestment_May2023/images/bottom-image.svg "Ultra")](https://ultradesignagency.com/) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Dana Funds Investment Team", "url" : "https://insights.danainvestment.com/blog/author/dana-funds-investment-team" }, "dateModified" : "2020-01-08T22:57:29.056Z", "datePublished" : "2019-08-15T18:11:42.000Z", "headline" : "[Chart of the Month] The Market is Roughly Flat Over Past 12 Months", "image" : [ "https://insights.danainvestment.com/hubfs/Blog%20Images/Dana-Blog-42-LinkedIn.png" ], "mainEntityOfPage" : { "@id" : "https://insights.danainvestment.com/blog/chart-of-the-month-the-market-is-roughly-flat-over-past-12-months", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://insights.danainvestment.com/hubfs/Logos/Dana-Investment-Adisors-Logo.png" }, "name" : "Dana Investment Advisors" } } ```