According to a Protos report published on November 10, 2026, the iShares Russell 1000 Value ETF generated a 29% total return—including dividends—over the previous 12 months, while its growth‑oriented sibling, the iShares Russell 1000 Growth ETF, shed roughly 2% of its value in the same period. The performance gap translates to a 23‑percentage‑point outperformance on a year‑to‑date basis, underscoring a broader market rotation from growth to value assets.

Growth Stocks Under Pressure

Blue‑chip growth names that dominated headlines earlier in the year, such as Nvidia, Broadcom and Tesla, have all posted negative returns over the last twelve months, according to the same Protos analysis. The broader S&P 500 and Nasdaq‑100 indices each rose just under 10%, but that modest appreciation stemmed from market‑cap weighting rather than higher earnings multiples. The S&P 500’s trailing price‑to‑earnings (PE) ratio fell from about 25.8x to 22.4x, a 13% decline, while the Nasdaq‑100’s average PE dropped from 33.6x to 27x, a one‑fifth reduction.

Protos notes that the earnings multiples for the largest tech firms have compressed sharply: Amazon’s PE fell 37% and Alphabet’s (Google) dropped 45% over the same timeframe. The report links part of the sell‑off to post‑midterm‑election concerns about potential regulatory changes affecting AI development and data‑center expansion. Commentators cited in the article observe that firms such as Meta and Microsoft are shifting from asset‑light to asset‑heavy models, prompting investors to re‑price their growth expectations.

What to Watch Next

Future market direction may hinge on whether regulatory scrutiny of AI and data‑center investments intensifies, and on how quickly growth‑oriented companies can adapt to higher capital expenditures. Investors will also be monitoring earnings reports from the remaining large‑cap growth names for signs of a bottoming‑out trend, while value‑focused funds could continue to attract inflows if the earnings‑multiple compression persists.