Small caps put on their best monthly showing since 2020. Bank of America says there's more upside ahead

Small cap investors saw huge gains in April, and Bank of America strategists see more upside coming. The Russell 2000 jumped more than 12% last month, its best monthly performance since November 2020. It even outperformed the large cap S & P 500 , which saw an advance of 10.4% in April. "Small caps have outperformed [year to date] and we expect them to continue to lead, driven by an EPS/manufacturing recovery," wrote Bank of America analysts led by equity and quantitative strategist Jill Carey …