Growth vs. Value in 2023: not even close Russell 1000 Growth ( IWF ) up 28% S & P 500 Growth ( IVW ) up 20% S & P 500 Value ( IVE ) up 7% Russell 1000 Value ( IWD ) flat There's only one sector with investing conviction The only sector with any investing conviction remains mega-cap growth, outperforming the S & P 500 and everything else.