After a Q4 sprint that puts US small-cap stocks virtually even with US large-cap stocks for 2020 in terms of full-year performance (a 21% rise for the US large-cap Russell 1000® Index relative to a 20% rise for the US small-cap Russell 2000® Index), this asset class continues to rise in the early days of 2021.
As of December 31, 2019, there were $5.7 trillion of active strategies using Russell US Style Indexes as performance benchmarks, and $466 billion using them as the basis for passive investment, for a total of $6.2 trillion in benchmarked assets.
Following the elections in Georgia, the Democrats have a very small majority in Congress. To facilitate governance, the new administration is likely to continue to govern using Executive Orders (EOs). Their use has grown over time, and they have become a full-fledged instrument of governance.