If investing in small caps purely based on indexes wouldn't that understate what the performance would be of holding the underlying individual small cap securities (based on a selected starting point) since inherently any outperforming small cap would be reconstituted once it reaches a certain cap size (limiting the index to hold only underperforming small cap securities)?
If investing in small caps purely based on indexes wouldn't that understate what the performance would be of holding the underlying individual small cap securities (based on a selected starting point) since inherently any outperforming small cap would be reconstituted once it reaches a certain cap size (limiting the index to hold only underperforming small cap securities)?