Small caps played a little catch up with large cap stocks last week with the Russell 2000 (RUT) gaining over 2% while the Russell 1000 (RUI) was up about 1.5%. For the year RUI has a lead of just under 0.5%.
The Cboe Russell 2000 Volatility Index (RVX) to VIX premium was at historically high levels for most of 2017 averaging around 44%. As small caps outperformed last week this premium started to come under a bit of pressure, but it still remains at pretty elevated levels. [...]