Most companies in the Russell 2000 only operate in the U.S. and don’t depend on oil prices.
“Small caps have less exposure to international markets and energy,” says Marc Roberts, senior analyst at Fenimore Asset Management, an independent research firm. “That’s part of the reason they’ve been performing better.”
Related: America Inc. warns of turbulence ahead
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“These are companies that are investing and innovating their own growth,” says Stuart, whose fund owns Dexcom stock. “It doesn’t matter if oil is at $100 or $50.”
Related: The ‘smart money’ is investing in oil now
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