While the S&P 500 traded lower Friday, value stocks had a strong finish to the week. Starting with a look at dividend stocks, the iShares Select Dividend ETF (DVY) rose 1.35% on the day for its best day since January 6th when DVY rose nearly 4%.  As shown below, DVY has recently been on a tear.

Along with the dividend ETF (DVY), the iShares S&P 500 Value ETF (IVE) rose 0.31%, reaching a new 52-week high intraday.  That compares to the growth counterpart, the iShares S&P 500 Growth ETF (IVW), which saw a bearish engulfing on its 0.65% decline.  Friday was the widest outperformance for value (IVE) over growth (IVW) since mid-January.  As shown below, while both are still trending nicely higher long-term, the value ETF is at new highs while growth is closer to its 50-day moving average.

Value’s outperformance on Friday only applied to large caps, though.  While small caps have fallen over the past several sessions, the Russell 2000 Growth ETF (IWO) and Russell 2000 Value ETF (IWN) both rebounded nicely today with identical gains of 2.08%. In the case of small-cap growth (IWO), the recent declines have been more severe meaning today’s strong performance still leaves it further below its highs than small-cap value (IWN).