 This year through July 10th, the MAG-7 was up 51%, and the cap-weighted S&P 500 up 19%. But in the following week, the MAG-7 fell 7.2%, and the cap-weighted S&P 500 fell 0.8%. At the same time, the equal-weighted S&P 500 rose 3.5%, and notably, small-cap stocks rebounded strongly. In just a week, the equal-weighted S&P 500 made up a third of this year's underperformance to the cap-weighted S&P 500.