S&P MidCap 400 index hits record high

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Even as parts of the federal government closed their doors Tuesday, several market indexes set all-time highs, including the S&P MidCap 400 index. The continuing impasse in Washington led to only slight declines Wednesday.

Wendy's restaurant chain is among the companies that have helped elevate the S&P MidCap 400 index.  FILE/ASSOCIATED PRESS
FILE/ASSOCIATED PRESS
Wendy's restaurant chain is among the companies that have helped elevate the S&P MidCap 400 index.

The S&P MidCap 400 index is up 23 percent so far this year, compared with the almost 19 percent rise of the large-cap Standard & Poor’s 500 index. That outperformance is reflected in mutual fund returns. Mid-cap growth funds are up an average 26 percent, while large-cap growth funds are up almost 23 percent.

So how big is a mid-cap company? Those in the S&P MidCap 400 have an average market value of $3.5 billion, approximately the value of the restaurant chain, Wendy’s. By comparison, the average market value of S&P 500 companies is $30.4 billion, roughly the size of General Mills.

Mid-cap stocks are likely to continue to appeal to investors in the months ahead. That’s because those companies have the potential for continued growth, while offering fewer risks than most small-caps.

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