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The factor/style index investing: Midcap growth has been the winner in 1995–2024

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  • Damir Tokic

    (University of Texas Rio Grande Valley)

  • Dave Jackson

    (University of Texas Rio Grande Valley)

  • Karlo Tokic

    (University of Texas Rio Grande Valley)

Abstract

Our findings show that the factor/style index investing was an effective strategy over the last 30 years. The S&P 400 Midcap Growth had the best absolute and risk-adjusted performance from 1995 to 2024, closely followed by the S&P 400 Midcap Pure Growth, while the S&P 400 Small-cap Value had the worst risk-adjusted performance. Will this relative performance persist over the next 30 years will largely depend on the prevailing macro environment during this period.

Suggested Citation

  • Damir Tokic & Dave Jackson & Karlo Tokic, 2025. "The factor/style index investing: Midcap growth has been the winner in 1995–2024," Journal of Asset Management, Palgrave Macmillan, vol. 26(5), pages 514-522, September.
    • Handle: RePEc:pal:assmgt:v:26:y:2025:i:5:d:10.1057_s41260-025-00419-x
    DOI: 10.1057/s41260-025-00419-x
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