Growth Stocks Leave Value Stocks In The Dust: 4 Reasons For Biggest Monthly Lead In Over A Year
Growth Stocks Leave Value Stocks In The Dust: 4 Reasons For Biggest Monthly Lead In Over A Year
Growth stocks are experiencing a remarkable resurgence, posting their best month in over a year when compared to value stocks, as the rally in tech and mega caps continues to dominate market dynamics.
成长股目前正在经历显著回升，同价值股相比，表现出了自去年以来最好的一个月份。科技和巨型股的上涨仍然主导了市场走向。
The iShares Russell 1000 Growth ETF (NYSE:IWF) has surged by 6.5% so far in June 2024. This gain puts it on track for its seventh month of increases in the last eight.
截至2024年6月，瑞信1000成长指数etf-ishares（纽交所：iwf）大涨6.5%。这个涨幅已经让它在过去8个月中的第7个月处于增长状态。
Investors have shown elevated confidence in growth-oriented sectors, particularly technology, which continues to benefit from strong earnings reports, heightened expectations for future cash flows and positive market sentiment, especially towards AI-related industries.
投资者对成长型板块表现出了更高的信心，特别是科技板块。科技板块继续从强劲的财报、未来现金流预期增长以及市场对人工智能相关产业的积极情绪中受益。与此形成鲜明对比的是，瑞信1000价值指数etf-ishares（纽交所：iwd）这一代表另一主要股票风格的etf在6月份下跌了1.4%。
In stark contrast, the iShares Russell 1000 Value ETF (NYSE:IWD), representing the other major equity style, has declined by 1.4% in June.
这种分化凸显了价值股面临的挑战，这些股票通常包括金融、能源、公共事业和必需消费品等板块。这些板块由于表现较差和收益预期低迷，难以吸引投资者的兴趣。
This divergence highlights the challenges facing value stocks, which typically encompass sectors like financials, energy, utilities, and consumer staples. These sectors have struggled to attract investor interest due to their less impressive performance and subdued earnings expectations.
2024年6月，成长股与价值股之间的表现差距达到了惊人的7.9个百分点，这标志着自2023年5月以来月度表现差异最大的一次。
The performance gap between growth and value in June 2024 stands at a striking 7.9 percentage points, marking the most substantial monthly performance difference since May 2023.
截至月底，如果差距超过2020年3月达到的9.6个百分点，那么这将标志着成长股和价值股表现差距最大的一个月份。
With one trading week remaining in the month, if the gap exceeds 9.6 percentage points, previously reached in March 2020, it will mark the largest one-month outperformance of growth over value ever recorded.
成长股的超额表现驱动因素有四个：
4 Key Factors Driving Growth's Outperformance Over Value
成长型etf中科技板块的主导地位是推动超额表现的主要因素。在瑞信1000成长指数etf中，科技公司占据组合的47%。与此形成鲜明对比的是，瑞信1000价值指数etf只将9.5%的资产分配给科技公司。
Technology Sector's Dominance in Growth ETFs: The technology sector's heavy weighting in growth-related ETFs has been the main driver of their outperformance. In the Russell 1000 Growth ETF, tech stocks comprise a substantial 47% of the portfolio. In stark contrast, the Russell 1000 Value ETF allocates only 9.5% to tech stocks.
芯片制造商在成长型基金中的重要性是另一个关键因素，因为他们是目前人工智能推动的行情中主要受益者之一。其占成长型etf的比重为17%，而其在价值型etf中只占4.2%。
Impact of Chipmakers on Growth Performance: Within the tech sector, the substantial weighting of chipmakers in growth funds has been another critical factor, as they have been the main beneficiaries of the current AI-driven rally. The semiconductor sector represents 17% of the growth ETF, compared to a mere 4.2% in the value ETF.
值得注意的是，美国银行所称的“六大神话”——英伟达公司（纳斯达克：nvda）、微软公司（纽交所：msft）、苹果公司（纳斯达克：aapl）、alphabet inc（纳斯达克：goog、googl）、亚马逊公司（纳斯达克：amzn）和meta platforms inc（纳斯达克：meta）——均不在价值型etf之中，但是在成长型etf中占比达到了50%。
Absence of Nvidia, Magnificent 6 In Value ETFs: Notably, "The Magnificent 6" – as named by Bank of America – Nvidia Corp. (NASDAQ:NVDA), Microsoft Corp. (NYSE:MSFT), Apple Inc. (NASDAQ:AAPL), Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL), Amazon Inc. (NASDAQ:AMZN), and Meta Platforms Inc. (NASDAQ:META) – are absent from the value-linked ETF but collectively hold a 50% weight in the growth ETF.
成长型etf中个股集中度比价值型etf高，这是另一个至关重要的因素，特别是在当前市场广度较差的情况下。瑞信1000成长指数etf中的前十大股票占组合总比重的57%，而价值型etf中的前十大股票仅占总比重的17%。
Stock Concentration and Market Breadth Differences: The higher stock concentration in growth-related ETFs compared to value socks is another crucial factor, especially in the current context of poor market breadth. The top 10 stocks in the Russell 1000 Growth ETF comprise 57% of the overall portfolio, whereas the top 10 in the value-related ETF account for only 17% of the total weight.
6月份表现最佳的成长型股票前七名：
Top 7 Performing Growth Stocks In June
价格变化（月至今）
| Name | Price Chg. % (MTD) |
| Broadcom Inc. (NASDAQ:AVGO) | 26.85% |
| Texas Pacific Land Corporation (NYSE:TPL) | 22.95% |
| Sarepta Therapeutics, Inc. (NASDAQ:SRPT) | 22.88% |
| Adobe Inc. (NASDAQ:ADBE) | 19.95% |
| Oracle Corporation (NYSE:ORCL) | 19.91% |
| CrowdStrike Holdings, Inc. (NASDAQ:CRWD) | 19.48% |
| Autodesk, Inc. (NASDAQ:ADSK) | 19.04% |
| 姓名 | 月至今价格变化率 |
| broadcom corp 8.00% mandatory convertible prf sr a（纳斯达克：AVGO） | 26.85% |
| 德克萨斯太平洋土地公司（纽交所：tpl） | 22.95% |
| Sarepta Therapeutics，Inc。（纳斯达克：srpt） | 22.88% |
| Adobe公司（纳斯达克股票代码：ADBE） | 19.95% |
| 甲骨文公司（纽交所：ORCL） | 19.91% |
| CrowdStrike Holdings, Inc. (纳斯达克:CRWD) | 19.48% |
| Autodesk，Inc。（纳斯达克：adsk） | 19.04% |
Top 7 Performing Value Stocks In June
6月份表现最佳的价值型股票前七名：
| Name | Price Chg. % (MTD) |
| Coherent Corp. (NYSE:COHR) | 24.68% |
| DC Technology Company (NYSE:DXC) | 20.23% |
| Guidewire Software, Inc. (NYSE:GWRE) | 19.58% |
| Universal Display Corporation (NASDAQ:OLED) | 18.71% |
| Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) | 18.52% |
| Zillow Group, Inc. (NYSE:ZG) | 17.88% |
| Hewlett Packard Enterprise Company (NYSE:HPE) | 16.29% |
| 姓名 | 月至今价格变化率 |
| Coherent Corp. (纽交所:COHR) | 24.68% |
| DC Technology Company (纽交所:DXC) | 20.23% |
| Guidewire Software, Inc. (纽交所:GWRE) | 19.58% |
| Universal Display Corporation (纳斯达克:oled概念) | 18.71% |
| Ollie's Bargain Outlet Holdings, Inc. (纳斯达克:ollie's bargain outlet) | 18.52% |
| Zillow Group, Inc. (纽交所:ZG) | 17.88% |
| 慧与科技公司 (纽交所:HPE) | 16.29% |
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