Homrich & Berg flags Russell 3000 growth’s worst nine-month stretch vs value since dot-com unwind
SPY•Value leadership broadened beyond sector mix
Value leadership broadened beyond sector mix, with seven of nine sectors beating growth counterparts; value-oriented tech rose 77.1%.
Growth still trades at 5.1x forward sales versus 2.2x for value, a 135% premium; relative multiples remain 1.1 standard deviations above the long-run norm.
Key signals for the rotation include ISM reacceleration, yield-curve steepening, June Russell reconstitution effects, and factor exposure to volatility, momentum and size.
Growth's worst nine-month stretch vs. value since 2000-2001
Homrich & Berg flagged a sharp rotation into value as Russell 3000 growth logged its worst nine-month stretch versus value since 2000-2001.
From Oct. 29, 2025 through end-July 2026, Russell 3000 growth fell about 3% versus a gain of more than 23% for value.
