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Recent fund flow data indicates significant movement in the small-cap sector, particularly concerning the Russell 2000 ETF ($IWM). On August 12, 2024, reports highlighted that the ETF experienced its largest outflow in three years, amounting to approximately $2.65 billion. This marks one of the most substantial outflows since 2021, reflecting a notable shift in investor sentiment towards small-cap stocks. The data suggests a growing trend of capital exiting this segment, raising questions about future performance in the small-cap market.