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Takeaway: Here's a chart that speaks to the breadth of the market's advance since the lows of 2009.

The chart below speaks to breadth of the market's advance and is an alternative view of style factor performance. It shows smaller cap, higher beta and higher growth are outperforming, When you give those companies a higher weight it shows up in the performance spread between the cap-weighted and equal-weighted.  Apple hasbeen a drag on the S&P's relative performance in recent months, too.

Breadth of the Market's Move - S and P Redux