Author: Jodie Gunzberg

In a recent Wall Street Journal ‘Intelligent Investor’ column, Jason Zweig showed how index funds that are supposed to be near-identical twins are performing like strangers. The iShares Russell 1000 Growth ETF was up about 4.6% this year, while the Invesco S&P 500 Pure Growth ETF had gained 24.3%. Among the leading large-value ETFs, the spread ran to 11 percentage points. Much of the difference came from classification. Micron Technology and Sandisk, two chipmakers riding the AI boom, counted as value stocks under Russell’s price-to-book math because factories and equipment inflate book value. FTSE Russell says the pair drove roughly…