The Russell 2000 is experiencing its best start to the year since 1991, signaling a significant shift in market leadership away from mega-cap AI stocks
Too little corroboration in the last 3 days to call a trend (1 article). Watching for it to gain traction.
Sources characterize small-cap performance in 2026 as one of the standout market stories of the year, with the Russell 2000 up over 21% year-to-date, its strongest opening stretch in over three decades. This is being framed as evidence of a meaningful shift in market leadership away from mega-cap AI stocks toward broader participation.
Broad market leadership, where gains extend beyond a narrow group of dominant stocks, is generally associated with healthier and more durable bull market conditions, as it reflects wider earnings participation and reduces the systemic risk that comes from concentration in a handful of names.
"Small-cap stocks have become one of 2026's standout stories, with the Russell 2000 up over 21% YTD, its best start to the year since 1991."