The outperforming of value over the growth during last 5 years has been startling. The same can be said about the outperformance of small cap stocks over their large cap counterparts. Here are some numbers to illustrate my point: The vanguard small cap index fund (Symbol - NAESX) returned 6.97% annualized during last 5 years. During the same time period the large cap 500 index fund returned -2.38%. That is, 9.35% annualized return advantage for the small cap stocks.
Now, let's see the value side of the story. The small cap value index returned 15.05% annualized in during the last 5 years. The value index fund, which is a large cap heavy value index, returned 2.43% annualized. So, the small cap values ran ahead by almost 12.5% points.
This is startling.