"Value" hasn't significantly outperformed "Growth" since 2016 and even then it was only for a year or so.
Is now the time where value investing comes back in vogue?
Small- and mid-cap value sub-sectors are starting to perform better relative to growth. For large-cap, the growth outperformance is still material (i.e. 200 bps YTD as of 5/10/19).
Summary/conclusion: The consistent theme for the first 4-5 months of 2019 is that small- and mid-cap value have been narrowing the performance differential over growth, but it's been a slow transition. The last decent correction that ended in Q1 '16 saw large-cap growth outperform substantially. With the correction of Q4 '18, perhaps now value starts to reassert itself.
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Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.