在过去3年中，欧洲小型股几乎没有任何上涨，由于利率上升，2022年和2023年大部分股票处于亏损状态。与此同时，欧洲大型股在此期间上涨了约35%。相比之下，标普500指数上涨了41%。

Over the past 3 years, European small cap stocks have barely seen any gains with mostly being underwater in 2022 and 2023 due to higher interest rates. Meanwhile, European Large cap stocks have rallied by ~35% during this time. By comparison, the S&P 500 was up by 41%.