Russell 2K is down about 9% while S&P500 is effectively flat and High Yield is holding up!

Market watchers rightfully focus on rates or earnings, but what puzzles me is why Small Caps have underperformed so much for the last 2 weeks.
Russell 2K is down about 9% while S&P500 is effectively flat and High Yield is holding up!
We definitely see funds outflows from Small Caps, but fundamentally it is not clear why…
Maybe you guys see a better fundamental explanation?

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Russell 2K is down about 9% while S&P500 is effectively flat and High Yield is holding up!

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