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The last two years have seen investors put faith in tech and largely get rewarded. That’s as value stocks have lagged behind. Vanguard’s S&P 500 large-cap value ETF VOOV returned 9.8% last year and 19% in 2023, while its large-cap growth ETF VOOG returned 35% and 28%, respectively.
“One of the nice things for a value investor today is because the S&P has been so concentrated in large-cap technology companies, the cheap stocks are spread out across most of the other industries,” Bill Nygren, who co-manages the value-focused Oakmark Fund OAKMX and is also chief investment officer at parent Harris Associates, told clients earlier this month.
