The Russell 2000 index hit an all-time intraday high on Wednesday, sneaking past its large-cap counterparts amid lingering trade tensions between the U.S. and some of its key trade partners.
Wednesday's record marks the Russell's first since Jan. 24, about a week before equities fell into a 10 percent correction. The Dow Jones industrial average and S&P 500 have not made records since Jan. 26, while the Nasdaq composite hit its most recent all-time high on March 13.
The small-cap index has also outperformed the Dow, S&P 500 and Nasdaq over the past three months, rising more than 4.5 percent. The Dow and S&P 500 are down in that time period, while the Nasdaq has gained about 2 percent.