Rotating into cheap value stocks has been a winning strategy as high-flying shares struggled amid rising rates. This particular value fund, with big holdings in financials, is outshining its peers in 2022 with stellar outperformance. The JPMorgan Large Cap Value (OLVAX) is up more than 5% in 2022, beating the S & P 500 by over 12 percentage points as the overall market grapples with the Federal Reserve's policy shift and surging inflation. The fund, which has $3.3 billion in assets under management, ranks in the top 1% of value funds this year, according to Morningstar. It also has a good long-term track record with an annualized 10-year total return of 13.7%. Value stocks like energy and financial shares have been in favor on the back of the economic recovery. Those names, which typically trade at lower multiples based on profits or book value, have been more appealing to investors at a time when rising interest rates threatened high-flying growth stocks' long-term promise. At the end of 2021, the JPMorgan large-cap value fund was overweight relative to its benchmark to consumer staples, energy, materials and slightly to financials, which boosted its performance, according to Todd Rosenbluth, head of ETF and mutual fund research at CFRA.