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The more narrowly concentrated versions of these indexes have been performing better.The broadening of performance in stocks might reflect the flow of AI spending in smaller companies.The S&P 500 Pure Value Index and the S&P 500 Pure Growth Index have performed better than the broader growth and value indexes and the full S&P 500 SPX since the end of 2024. Below is an explanation of how all of these indexes work. Nick Kalivas, Invesco's head of factor ETF strategy, shared insight as to why the \"pure\" versions of the index have been outperforming.So each stock has a value score and a growth score. The companies are ranked by each score and then ranked again by the ascending ratios of growth rank/value rank. 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