Bank of America says value stocks are 'broken' after worst 10-year performance against growth

A trader working at the New York Stock Exchange in New York, the United States.
Michael Nagle | Xinhua News Agency | Getty Images

The performance of value stocks relative to growth names has been dismal over the past decade by historical standards, according to Bank of America.

The firm said value had its worst-ever performance over a 10-year period when compared to growth. In that time span, the Russell 1000 Growth index has skyrocketed more than 300% while the Russell 1000 Value index is only up 107%.

Value stocks are those with generally low multiples and stable fundamentals. Growth stocks are those with high growth expectations relative to the market.