The Small Cap Growth style ranks last out of the twelve fund styles detailed in our 4Q23 Style Ratings for ETFs and Mutual Funds report. Last quarter, the Small Cap Growth style ranked last as well. The category receives our Very Unattractive rating, which is based on aggregate ratings of 25 ETFs and 508 mutual funds in the Small Cap Growth style as of October 17, 2023. See a recap of our 3Q23 Style Ratings here.
Figures 1 and 2 show the five best and worst rated ETFs and mutual funds in the Small Cap Growth. Not all Small Cap Growth style ETFs and mutual funds are created equal. The number of holdings varies widely (from 24 to 3,615). This variation creates drastically different investment implications and, therefore, ratings.