Homrich & Berg says momentum drives 2026 growth-value index divergence
SPY•Momentum drives mixed growth-versus-value signals
Homrich & Berg analysis flagged momentum as the main driver of 2026’s conflicting growth-versus-value signals across major US equity benchmarks.
Russell 1000 Growth trailed Russell value while S&P 500 growth beat S&P value, reflecting index definitions rather than broad growth strength.
S&P embeds momentum in its growth methodology; Russell does not, amplifying performance dispersion when high-momentum stocks lead.
On median returns, value beat growth across both index families; S&P growth outperformance looked concentrated in cap-weighted winners.
S&P Pure Growth returned 28.2% YTD cap-weighted, 10.5% on median; Pure Value showed 14.3% on median.
