The last time value stocks beat growth by this much was 2022 — the year of the last major bear market

Value stocks have outperformed growth stocks at a rate comparable to 2022, the last year of significant market decline, according to market data. The outperformance is occurring during a period of overall market gains rather than a downturn. Value stocks are those trading at lower multiples of earnings or book value, while growth stocks are those expected to expand earnings rapidly.

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