Over the last several weeks, small-cap stocks and indexes have gained with a market rotation taking place in the second half of 2024.

A new Benzinga poll shows whether the move could gain steam or be short-lived.

What Happened: The Russell 2000 index, which is tracked by the iShares Russell 2000 ETF ( IWM ) is outperforming other major stock market indexes in recent weeks.

The iShares Russell 2000 ETF ( IWM ) is up 10.9% over the last month, outperforming the 1.7% return of the SPDR S&P 500 ETF ( SPY ) , the -0.9% return of the Invesco QQQ Trust and the 5.8% return of the SPDR Dow Jones Industrial Average ETF ( DIA ) .

Given the recent surge in small-cap stocks, Benzinga polled readers to find out if they are adding more small caps to their portfolio.

"Are you buying more or less small-cap stocks after the historic rally?" Benzinga asked.

The results were:

Buying more: 44%

Buying less: 1%

Maintaining Current Level: 34%

Not Investing in Small Caps: 21%

Buying more small caps was the winner of the poll, beating out the option of maintaining the current level. Only 1% of readers said they were buying less. Surprisingly, 21% of readers said they are not investing in small-cap stocks currently.

Read Also: Apple, Microsoft, Meta, Google: Which Would You Buy At All-Time High? Investor Poll Reveals Split Opinions

Why It's Important: The recent gains for small-cap stocks come after large-cap stocks, especially those in the technology sector.

Freedom Capital Markets Global Strategist Jay Woods told Benzinga that the Russell 2000 is still 8% off of all-time highs, despite other market indexes hitting all-time highs.

Woods suggested that the 8% gain for the Russell 2000 is an "easy upside target."

Here's a look at the current one-year and year-to-date return of the ETFs that track the major stock market indexes:

IWM: 1-Year: +14.8%, YTD: +10.7%

SPY: 1-Year: +23.5%, YTD: +17.2%

QQQ: 1-Year: +25.6%, YTD: +17.3%

DIA: 1-year: +19.1%, YTD: +9.3%

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The study was conducted by Benzinga in July 2024 and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 85 adults.

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