Small Cap Outperformance Trend: Analysis of Retzler's CNBC Interview Insights

The event occurred on November 26, 2025, at 13:47 EST, featuring Chris Retzler on CNBC’s “The Exchange” discussing small cap growth prospects.

This analysis is based on the CNBC interview [1] where Retzler highlighted small caps’ potential as investors shift to top-line growth. Key findings include IWM’s 7.9% 5-day return (vs SPY’s4.36%), Energy sector leading gains, and elevated volatility risks for small caps.

Small caps have recently outperformed large caps: IWM (Russell2000 ETF) rose1.26% on Nov26 vs SPY’s0.50% [0]. Over5 days, IWM delivered +7.9% vs SPY’s+4.36% [0]. Energy sector (high small cap concentration) led with +2.21% gain [0]. Volume for IWM spiked to99.5M shares on Nov21, indicating increased investor interest [0].

1. Cross-domain correlation: Energy sector’s strong performance drives small cap gains, aligning with Retzler’s focus on growth sectors.
2. Volume trends signal shifting investor sentiment toward small caps.
3. Retzler’s top-line growth thesis is supported by recent outperformance, though data on actual revenue growth gaps between small and large caps is missing [0].

• Volatility: IWM dropped3.43% on Nov20 vs SPY’s-3.03% [0], indicating higher downside risk.
• Economic sensitivity: Small caps are more vulnerable to slowdowns, requiring monitoring of leading indicators [0].

• Small caps with strong top-line growth may benefit from investor focus shift.
• Energy sector small caps could continue to lead if trends persist [0].

Affected instruments: IWM ETF, Russell2000 Index, Energy sector small caps [0]