STORY: “Small caps have traditionally done quite well because, with a healthy IPO market, most companies go public early in their maturity,” Orczyk Sissel explained.However, “now you’re seeing companies wait a really long time to go public.”But a variety of recent factors have helped boost small caps, Orczyk Sissel said, including the fact that “they’re not as affected by tariffs.”That, along with “reasonable earnings expectations, have been a tailwind to small caps,” she said.