Both large caps and small caps have outperformed at different times. For example, between 2018 and 2020, large caps did much better than mid-caps and small caps. However, between 2016 and 2018, it was small caps and mid-caps that did much better. In the last 6-8 months, small caps and mid-caps have again done pretty well. Normally, the lead indicator of performance comes from large caps, and later small caps and mid-caps follow suit.
Both large caps and small caps have outperformed at different times. For example, between 2018 and 2020, large caps did much better than mid-caps and small caps. However, between 2016 and 2018, it was small caps and mid-caps that did much better. In the last 6-8 months, small caps and mid-caps have again done pretty well. Normally, the lead indicator of performance comes from large caps, and later small caps and mid-caps follow suit.