People talk about exposure to core asset classes, and one of the unsung core asset classes that we think about are mid cap U.S. stocks. And obviously there's different indexes to look at, and when I talk about this here I'm specifically talking about the S&P 400. So the S&P looks at the S&P 500, the 500 biggest companies by market capitalization, and then there's the S&P 400.
And if you look at that asset class, most advisors of clients think about large cap stocks, small cap stocks. And that asset class has had the best risk-adjusted performance over a long period of time versus even small -- risk-adjusted -- compared to small cap or large cap. You've got a wonderful core of companies that are still most of them still growing, but are still nimble enough to grow at higher rates and aren't hitting the ceilings that you see some large cap companies.
And when we see active managers, we do see some active managers that can provide value in the small cap space, but we don't see a lot of mid cap managers that provide a lot of value. They end up bleeding into large cap or they end up sinking down into small cap, and you just don't get pure exposure to that asset class.
iShares has a great product, IJH, that we have used that gives great exposure to that asset class. When we talk about core exposure to U.S. equities, a lot of times people are thinking about large cap/small cap. And I think mid cap is an asset class that almost every investor should have pure exposure to within their investment portfolios.