Investment Themes
The size of the company, in the stock market sense of the term, refers to the market capitalization of the listed company, i.e. its market value. It is obtained by multiplying the total number of shares comprising the share capital by their price.
The size of a company is an investment factor, along with growth, value, volatility, quality or momentum. In investment terms, a factor is a characteristic that helps explain the long-term risk and return of an asset. Small-caps have historically demonstrated higher returns than the market over the long term - especially large-caps - but also have higher volatility.
Size is considered a pro-cyclical factor, meaning that it has tended to benefit from periods of economic expansion. Small caps tend to outperform in bull markets and underperform in bear markets.
The investment style list below is designed to identify small-caps with a market capitalization of less than $1 billion that have the best fundamentals in their respective markets.
Several geographic regions are proposed. The global list includes companies listed in the world's major financial centers. The other lists are regional: North America (United States, Canada), Europe, Asia (Japan, Australia, Singapore, Hong Kong), Emerging Markets, United Kingdom, France, Germany, Switzerland, Netherlands and Italy.
Our selection
| Technology | Integrated Hardware & Software | 327M | -13.92% | ||
| Technology | Other Internet Services | 681M | -2.90% | ||
| Consumer Cyclical | Other Casinos & Gaming | 634M | +47.91% | ||
| Energy | Oil Related Services | 502M | +65.47% | ||
| Technology | Application Software | 945M | -7.63% | ||
| Industrials | Diversified Industrial Goods Wholesale | 470M | -20.92% | ||
| Financials | Investment Management | 711M | +101.41% | ||
| Industrials | Other Aerospace & Defense | 365M | +76.54% | ||
| Technology | Other Software | 648M | -4.75% | ||
| Consumer Cyclical | Cafés | 203M | -58.88% | ||
| Energy | Other Oil & Gas Exploration and Production | 828M | +41.82% | ||
| Technology | Other IT Services & Consulting | 294M | -55.22% | ||
| Energy | Other Oil & Gas Exploration and Production | 50.2M | +11.11% | ||
| Financials | Insurance Brokers | 401M | +7.06% | ||
| Technology | Other Software | 82.79M | +189.01% | ||
| Technology | Other Software | 599M | -3.59% | ||
| Technology | Security Software | 373M | -22.08% | ||
| Technology | Social Media & Networking | 925M | +10.71% | ||
| Technology | Other Software | 583M | -3.77% | ||
| Technology | Other Integrated Telecommunications Services | 566M | +72.93% | ||
| Financials | Other Consumer Lending | 647M | -27.01% | ||
| Industrials | Other Business Support Services | 437M | -2.78% | ||
| Industrials | Other Environmental Services & Equipment | 313M | +11.50% | ||
| Energy | Natural Gas Exploration & Production - Onshore | 264M | +41.92% | ||
| Technology | Other Internet Services | 946M | -1.59% | ||
| Healthcare | Specialty & Advanced Pharmaceuticals | 715M | +31.92% | ||
| Energy | Stationary Fuel Cells | 699M | -10.29% | ||
| Industrials | Other Construction & Engineering | 500M | -46.62% | ||
| Consumer Cyclical | Other Advertising & Marketing | 567M | +55.50% | ||
| Financials | Insurance Brokers | 357M | -47.59% | ||
| Industrials | Locomotive Engines & Rolling Stock | 238M | -34.24% | ||
| Energy | Other Oil & Gas Exploration and Production | 339M | +33.77% | ||
| Technology | Other IT Services & Consulting | 27.4M | -41.04% | ||
| Industrials | Freight Trucking | 950M | +36.32% | ||
| Industrials | Other Business Support Services | 730M | -34.18% | ||
| Industrials | Transaction & Payment Services | 798M | +162.04% | ||
| Energy | Other Oil & Gas Drilling | 195M | +40.48% | ||
| Energy | Other Oil Related Services and Equipment | 801M | +104.63% | ||
| Technology | Other Software | 754M | +83.99% | ||
| Industrials | Deep Sea Freight | 390M | +87.32% | ||
| Energy | Other Renewable Fuels | 503M | +338.59% | ||
| Consumer Cyclical | Other Apparel & Accessories | 802M | -35.36% | ||
| Technology | Broadcasting Equipment | 858M | +12.72% | ||
| Industrials | Aerospace & Defense Electronics | 384M | +13.67% | ||
| Utilities | Biomass & Waste to Energy Electric Utilities | 261M | +6.59% | ||
| Healthcare | Specialty & Advanced Pharmaceuticals | 725M | +27.45% | ||
| Real Estate | Other Commercial REITs | 708M | +45.79% | ||
| Basic Materials | Gold Mining | 660M | +4.72% | ||
| Basic Materials | Other Precious Metals & Minerals | 405M | +21.90% | ||
| Real Estate | Retail REITs | 347M | +17.22% | ||
| Industrials | Other Marine Freight & Logistics | 549M | +15.41% | ||
| Technology | Other Software | 442M | -9.09% | ||
| Energy | Oil Exploration & Production - Onshore | 784M | +59.28% | ||
| Energy | Other Oil & Gas Refining and Marketing | 322M | +293.54% | ||
| Energy | Other Oil Related Services and Equipment | 752M | +11.59% | ||
| Industrials | Deep Sea Freight | 154M | +302.07% | ||
| Healthcare | Medical Farming | 352M | -22.05% | ||
| Industrials | Industrial Machinery | 836M | -36.77% | ||
| Financials | Other Banks | 320M | +13.42% | ||
| Industrials | Other Business Support Services | 428M | +30.76% | ||
| Real Estate | Mortgage REITs | 884M | +33.01% | ||
| Financials | Private Equity | 803M | +17.74% | ||
| Healthcare | Other Advanced Medical Equipment & Technology | 326M | +15.58% | ||
| Technology | Other Software | 377M | +17.66% | ||
| Energy | Sea-Borne Tankers | 735M | +62.42% | ||
| Financials | Other Consumer Lending | 708M | -0.80% | ||
| Financials | Other Banks | 771M | +9.48% | ||
| Financials | Other Banks | 869M | +39.16% | ||
| Financials | Other Banks | 302M | +30.28% | ||
| Technology | Enterprise Software | 673M | -16.06% | ||
| Healthcare | Bio Therapeutic Drugs | 407M | +21.67% | ||
| Industrials | Diversified Industrial Goods Wholesale | 165M | +5.83% | ||
| Technology | Other Software | 392M | -27.54% | ||
| Energy | Other Oil Related Services and Equipment | 909M | +1.85% | ||
| Healthcare | Other Biotechnology & Medical Research | 376M | +16.00% | ||
| Financials | Commercial Banks | 417M | +13.72% | ||
| Healthcare | Alternative Medicine | 52.11M | +13.64% | ||
| Financials | Other Banks | 589M | +21.28% | ||
| Consumer Non-Cyclical | Other Drug Retailers | 61.63M | +7.69% | ||
| Basic Materials | Other Gold | 970M | -7.10% | ||
| Technology | Other Internet Services | 661M | -0.12% | ||
| Technology | Other IT Services & Consulting | 638M | -15.34% | ||
| Consumer Cyclical | Other Construction Supplies & Fixtures | 791M | +121.55% | ||
| Healthcare | Other Medical Equipment, Supplies & Distribution | 254M | +3.66% | ||
| Industrials | Other Business Support Services | 644M | +42.67% | ||
| Energy | Other Oil & Gas Drilling | 32.35M | +88.00% | ||
| Consumer Cyclical | Other Hotels, Motels & Cruise Lines | 608M | +17.18% | ||
| Technology | Internet Gaming | 175M | +43.61% | ||
| Basic Materials | Silver Mining | 201M | -8.33% | ||
| Consumer Cyclical | Leisure Products Wholesale | 256M | +28.65% | ||
| Financials | Other Banks | 511M | +43.95% | ||
| Technology | Other Software | 712M | -31.86% | ||
| Real Estate | Other Commercial REITs | 823M | +18.09% | ||
| Consumer Cyclical | Furniture | 233M | +7.25% | ||
| Financials | Retail & Mortgage Banks | 815M | +13.71% | ||
| Technology | Other Software | 222M | -24.52% | ||
| Services académiques et éducatifs | Miscellaneous Educational Service Providers | 846M | +21.27% | ||
| Healthcare | Other Advanced Medical Equipment & Technology | 870M | -37.23% | ||
| Healthcare | Other Biotechnology & Medical Research | 214M | -11.96% | ||
News of the components
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