<p>美国小型股在 2025 年下半年的表现飙升，基准的标准普尔小型股 600 指数在过去三个月上涨了 10.7%，在过去 30 天上涨了 4.1%。而更广泛的大型股标准普尔 500 指数在同一时间段内仅上涨了 8.9% 和 1.8%。</p>
<p>如果如预期所示，美联储在 9 月中旬的公开市场委员会上降息，小型股应该会进一步上涨。根据路透社对 107 位经济学家的调查，基准联邦基金利率下调 0.25% 是 “板上钉钉” 的事情，这对寻求降低信贷和借款利率的美国小型公司来说是个好消息。</p>
<p>“由于小型股更依赖于债务融资，较低的利率将通过降低借款成本更直接地影响小型股，” F/m Investment 的高级投资组合经理 Dan Skubiz 表示。“较低的利率将减少利息支出并改善相对盈利能力。”</p>
<h2><strong><em>34 连胜：热爱市场崩溃的收益策略</em></strong></h2>
<p><em>当其他人在波动中亏损时，Tom Gentile 在一周内赚取高达$1,925。他的 34-0 战绩证明，无论市场上涨、下跌还是横盘，你都可以获利。了解完整的系统。<strong>立即预定你的免费席位。</strong></em></p>
<p>但找到值得投资的小型股可能是一项挑战。</p>
<p>小型股与美国经济的联系也更为紧密。“如果较低的利率提供刺激，而美国经济增长稳定或加速，小型股将会在经济扩张的早期到中期阶段表现优于其他股票，” Skubiz 补充道。</p>
<p>美联储关于利率的重大决定也恰逢标准普尔 500 指数的集中度在今年达到了历史新高，超过 40% 的标准普尔 500 权重集中在 10 只股票上。</p>
<p>“自 8 月初以来，我们看到股市的广泛扩展，小型股的表现优于大型科技股交易，而后者自 4 月低点以来一直是市场的主要趋势，” Scharf Investments 的 CFA 和全国账户总监 Grace Glockner 表示。“相信均值回归理论的人会认为，这种广泛扩展可能会继续。”</p>
<p>Glockner 指出，市场的广泛扩展将进一步支持这种超额表现。“然而，如果美联储降息是因为经济明显疲软，小型股往往会迅速响应周期性变化，并可能在这种环境中表现不佳，” 她补充道。</p>
<h2>如果美联储降息以刺激经济，3 只小型股值得关注</h2>
<p>在众多小型股中选择赢家并不容易，尤其是在低利率环境下。市场专家表示，可以从这三只小型股开始尽职调查。</p>
<h3>Patrick Industries</h3>
<p><strong>年初至今表现：37.00%</strong></p>
<p><strong>Patrick Industries</strong> PATK 是一家为房车、制造住房、海洋和工业 OEM 提供组件和材料的供应商和分销商，在需求下滑期间成功扩大了利润率。“较低的利率应该会刺激其终端市场的增量销量，增加日益增长的售后市场业务和成功的并购策略，” Skubiz 表示。</p>
<h3>Federal Signal</h3>
<p><strong>年初至今表现：38.00%</strong></p>
<p>总部位于伊利诺伊州的 <strong>Federal Signal</strong> FSS 是一家高质量的市政和环境设备制造商（如扫街车、吸尘车和警报系统），其股价在 2025 年飙升了 38%。公司支持者表示，未来还有很大的增长空间。</p>
<p>“Federal Signal 的工业客户将受益于设备的低借款利率。相比之下，他们的市政客户则受益于基础设施支出和改善经济带来的更高税基，” Skubiz 指出。</p>
<h3>LKQ Corporation</h3>
<p><strong>年初至今表现：-10.42%</strong></p>
<p>总部位于田纳西州安提阿的 <strong>LKQ</strong> LKQ 是一家汽车零部件和产品分销商，应该会受益于汽车车主在高昂的汽车价格时期选择延长其汽车和卡车的使用寿命。</p>
<p>“LKQ 的零部件在耐用性方面始终优于廉价的海外替代品，” 前丰田服务经理、Universal Inspections 创始人 Howard Lutz 表示。“他们的废品回收网络几乎不可能被复制。”</p>
<p>Lutz 指出，随着汽车变得越来越复杂，汽车服务行业正在蓬勃发展。“在我丰田的日子里，我们看到诊断复杂性每年增加 15-20%，” 他说。“提供专业诊断设备或培训项目的小型公司正在乘着这股浪潮，因为独立车行急于跟上技术。”</p>
<h2>也要关注基金</h2>
<p>小型股领域是通过共同基金或主动 ETF 使用外部经理增加价值的绝佳空间。尤其是在投资者在市值规模上进一步深入时，信息不对称增加；投资经理可以通过超越指数来赚取他们的费用比率。</p>
<p>“在小型股领域购买单只股票会使投资者面临缺乏多样化的风险，这是另一个需要优质经理的原因，” Glockner 表示。“寻找强调优质公司并在适当估值下进行投资的经理，并在评估主动管理的基金时，也要寻找与公司管理层保持密切关系以监控业务变化的经理。”</p>
<p><em>我们专家贡献的编辑内容旨在为公众提供信息，而非个性化投资建议。编辑/贡献者呈现他们的个人观点和策略，这些观点和策略并未明确或暗示地获得 Benzinga 的批准或认可。</em></p>
<p><em>照片来源：Shutterstock</em></p>

PATK

联邦信号

<p>美国小型股表现良好，标准普尔小型股 600 指数在过去三个月上涨了 10.7%。预计美联储将降息，这可能通过降低借贷成本来惠及小型公司。分析师建议考虑三只小型股：Patrick Industries、Federal Signal 和 LKQ Corporation。Patrick Industries 年初至今的表现为 37%，Federal Signal 上涨了 38%，而 LKQ 则下跌了 10.42%。建议投资者考虑共同基金或主动型 ETF，以在小型股领域实现更好的多样化</p>

<p>U.S. small-cap stock performance is soaring in the second half of 2025, with the benchmark S&amp;P Small Cap 600 Index up 10.7% in the last three months and up 4.1% over the past 30 days. The broader large-cap S&amp;P 500 Index is up just 8.9% and 1.8% over the same time periods.</p>
<div class="lb-trans"><p>美国小型股在 2025 年下半年的表现飙升，基准的标准普尔小型股 600 指数在过去三个月上涨了 10.7%，在过去 30 天上涨了 4.1%。而更广泛的大型股标准普尔 500 指数在同一时间段内仅上涨了 8.9% 和 1.8%。</p>
</div><p>Small-caps should rise even further if, as expected, the Federal Reserve cuts interest rates at the Fed's Open Markets Committee in mid-September. A .25% cut in the benchmark federal funds rate is a “done deal,” according to a Reuters survey of 107 economists, which would be good news for U.S. small-cap companies looking for lower credit and borrowing rates.</p>
<div class="lb-trans"><p>如果如预期所示，美联储在 9 月中旬的公开市场委员会上降息，小型股应该会进一步上涨。根据路透社对 107 位经济学家的调查，基准联邦基金利率下调 0.25% 是 “板上钉钉” 的事情，这对寻求降低信贷和借款利率的美国小型公司来说是个好消息。</p>
</div><p>“Lower rates would impact small-caps more directly through lower borrowing costs, given small-caps are more reliant on debt financing,” said Dan Skubiz, senior portfolio manager at F/m Investment. “Lower interest rates would reduce interest expense and improve relative earnings power.”</p>
<div class="lb-trans"><p>“由于小型股更依赖于债务融资，较低的利率将通过降低借款成本更直接地影响小型股，” F/m Investment 的高级投资组合经理 Dan Skubiz 表示。“较低的利率将减少利息支出并改善相对盈利能力。”</p>
</div><h2><strong><em>34 Straight Wins: The Income Strategy That Loves Market Crashes</em></strong></h2>
<div class="lb-trans"><h2><strong><em>34 连胜：热爱市场崩溃的收益策略</em></strong></h2>
</div><p><em>While others lost money on volatility, Tom Gentile collected as high as $1,925 in a single week. His 34-0 track record proves you can profit whether markets rise, fall, or go sideways. Learn the complete system. <strong>Reserve your free seat now.</strong></em></p>
<div class="lb-trans"><p><em>当其他人在波动中亏损时，Tom Gentile 在一周内赚取高达$1,925。他的 34-0 战绩证明，无论市场上涨、下跌还是横盘，你都可以获利。了解完整的系统。<strong>立即预定你的免费席位。</strong></em></p>
</div><p>But finding the small-caps that are worth investing in can be a challenge.</p>
<div class="lb-trans"><p>但找到值得投资的小型股可能是一项挑战。</p>
</div><p>Small-caps are also more closely tied to the US economy. “If lower rates provide stimulus and US growth stabilizes or accelerates, small-cap stocks would see that get priced into stocks as they tend to outperform in the early to mid-stages of an economic expansion,” Skubiz added.</p>
<div class="lb-trans"><p>小型股与美国经济的联系也更为紧密。“如果较低的利率提供刺激，而美国经济增长稳定或加速，小型股将会在经济扩张的早期到中期阶段表现优于其他股票，” Skubiz 补充道。</p>
</div><p>The Fed's big decision on rates also comes at a time when concentration levels in the S&amp;P 500 have reached all-time highs this year, with over 40% of the S&amp;P 500 weighting in 10 stocks.</p>
<div class="lb-trans"><p>美联储关于利率的重大决定也恰逢标准普尔 500 指数的集中度在今年达到了历史新高，超过 40% 的标准普尔 500 权重集中在 10 只股票上。</p>
</div><p>“Since early August, we have seen a broadening out of the stock market, and small-cap stocks have outperformed the large-cap tech trade, which had been the prominent trend in the market since the April lows,” said Grace Glockner, CFA, and national accounts director at Scharf Investments. “Believers in the mean reversion theory would argue that this broadening out is likely to continue.”</p>
<div class="lb-trans"><p>“自 8 月初以来，我们看到股市的广泛扩展，小型股的表现优于大型科技股交易，而后者自 4 月低点以来一直是市场的主要趋势，” Scharf Investments 的 CFA 和全国账户总监 Grace Glockner 表示。“相信均值回归理论的人会认为，这种广泛扩展可能会继续。”</p>
</div><p>A broadening of the market would further support this outperformance, Glocker noted. “However, if the Fed is cutting rates because the economy has materially weakened, small-cap stocks tend to respond quickly to cyclicality and would likely underperform in that environment,” she added.</p>
<div class="lb-trans"><p>Glockner 指出，市场的广泛扩展将进一步支持这种超额表现。“然而，如果美联储降息是因为经济明显疲软，小型股往往会迅速响应周期性变化，并可能在这种环境中表现不佳，” 她补充道。</p>
</div><h2>3 Small-Cap Stocks To Play If Fed Cuts Heat Up The Economy</h2>
<div class="lb-trans"><h2>如果美联储降息以刺激经济，3 只小型股值得关注</h2>
</div><p>With myriad small-cap stocks to choose from, it's not easy to pick winners in a lower-rate environment. Start that due diligence process with these three small-cap names, market mavens say.</p>
<div class="lb-trans"><p>在众多小型股中选择赢家并不容易，尤其是在低利率环境下。市场专家表示，可以从这三只小型股开始尽职调查。</p>
</div><h3>Patrick Industries</h3>
<div class="lb-trans"><h3>Patrick Industries</h3>
</div><p><strong>Year-to-Date Performance: 37.00%</strong></p>
<div class="lb-trans"><p><strong>年初至今表现：37.00%</strong></p>
</div><p><strong>Patrick Industries</strong> PATK, a supplier and distributor of components and materials to RV, manufactured housing, marine, and industrial OEMs, has successfully expanded margins during the demand downturn. “Lower rates should spur incremental volume growth in their end markets to add to growing aftermarket business and a successful M&amp;A strategy,” Skubiz said.</p>
<div class="lb-trans"><p><strong>Patrick Industries</strong> PATK 是一家为房车、制造住房、海洋和工业 OEM 提供组件和材料的供应商和分销商，在需求下滑期间成功扩大了利润率。“较低的利率应该会刺激其终端市场的增量销量，增加日益增长的售后市场业务和成功的并购策略，” Skubiz 表示。</p>
</div><h3>Federal Signal</h3>
<div class="lb-trans"><h3>Federal Signal</h3>
</div><p><strong>Year-to-Date Performance: 38.00%</strong></p>
<div class="lb-trans"><p><strong>年初至今表现：38.00%</strong></p>
</div><p>Illinois-based <strong>Federal Signal</strong> FSS, a high-quality manufacturer of municipal and environmental equipment (such as street sweepers, vacuum trucks, and warning systems), has seen its share price skyrocket by 38% in 2025. Company backers say there's plenty more room for growth.</p>
<div class="lb-trans"><p>总部位于伊利诺伊州的 <strong>Federal Signal</strong> FSS 是一家高质量的市政和环境设备制造商（如扫街车、吸尘车和警报系统），其股价在 2025 年飙升了 38%。公司支持者表示，未来还有很大的增长空间。</p>
</div><p>“Federal Signal's industrial customers will benefit from lower borrowing rates for their equipment. In contrast, their municipal customers benefit from infrastructure spending and a higher tax base from an improving economy,” Skubiz noted.</p>
<div class="lb-trans"><p>“Federal Signal 的工业客户将受益于设备的低借款利率。相比之下，他们的市政客户则受益于基础设施支出和改善经济带来的更高税基，” Skubiz 指出。</p>
</div><h3>LKQ Corporation</h3>
<div class="lb-trans"><h3>LKQ Corporation</h3>
</div><p><strong>Year-to-Date Performance: -10.42%</strong></p>
<div class="lb-trans"><p><strong>年初至今表现：-10.42%</strong></p>
</div><p>Antioch, Tenn.-based <strong>LKQ</strong> LKQ is a vehicle parts and products distributor that should benefit from auto owners opting to extend the longevity of their cars and trucks in a period of sky-high vehicle prices.</p>
<div class="lb-trans"><p>总部位于田纳西州安提阿的 <strong>LKQ</strong> LKQ 是一家汽车零部件和产品分销商，应该会受益于汽车车主在高昂的汽车价格时期选择延长其汽车和卡车的使用寿命。</p>
</div><p>“LKQ parts consistently show better longevity than cheap overseas alternatives,” said Howard Lutz, a former Toyota service manager and founder at Universal Inspections in Woodstock, Al. “Their salvage yard network creates a moat that’s nearly impossible to replicate.”</p>
<div class="lb-trans"><p>“LKQ 的零部件在耐用性方面始终优于廉价的海外替代品，” 前丰田服务经理、Universal Inspections 创始人 Howard Lutz 表示。“他们的废品回收网络几乎不可能被复制。”</p>
</div><p>Lutz noted the automotive service sector is exploding as vehicles become more complex. “During my Toyota days, we saw 15-20% annual increases in diagnostic complexity,” he said. “Small-cap companies providing specialized diagnostic equipment or training programs are riding this wave as independent shops scramble to keep up with technology.”</p>
<div class="lb-trans"><p>Lutz 指出，随着汽车变得越来越复杂，汽车服务行业正在蓬勃发展。“在我丰田的日子里，我们看到诊断复杂性每年增加 15-20%，” 他说。“提供专业诊断设备或培训项目的小型公司正在乘着这股浪潮，因为独立车行急于跟上技术。”</p>
</div><h2>Look To Funds, As Well</h2>
<div class="lb-trans"><h2>也要关注基金</h2>
</div><p>The small-cap realm is a great space to add value by using an external manager via mutual funds or active ETFs. That's especially the case as information asymmetry increases the further down investors go in terms of cap size; investment managers can earn their expense ratios by outperforming the index.</p>
<div class="lb-trans"><p>小型股领域是通过共同基金或主动 ETF 使用外部经理增加价值的绝佳空间。尤其是在投资者在市值规模上进一步深入时，信息不对称增加；投资经理可以通过超越指数来赚取他们的费用比率。</p>
</div><p>“Buying single stock positions in the small-cap space opens investors up to a lack of diversification within the most cyclical equity asset class, another reason that it pays to have a quality manager,” Glockner said. “Look for managers that emphasize quality companies at appropriate valuations, and when evaluating actively managed funds. Also look for managers that maintain close relationships with company management to monitor changing business.”</p>
<div class="lb-trans"><p>“在小型股领域购买单只股票会使投资者面临缺乏多样化的风险，这是另一个需要优质经理的原因，” Glockner 表示。“寻找强调优质公司并在适当估值下进行投资的经理，并在评估主动管理的基金时，也要寻找与公司管理层保持密切关系以监控业务变化的经理。”</p>
</div><p><em>Editorial content from our expert contributors is intended to be information for the general public and not individualized investment advice. Editors/contributors are presenting their individual opinions and strategies, which are neither expressly nor impliedly approved or endorsed by Benzinga.</em></p>
<div class="lb-trans"><p><em>我们专家贡献的编辑内容旨在为公众提供信息，而非个性化投资建议。编辑/贡献者呈现他们的个人观点和策略，这些观点和策略并未明确或暗示地获得 Benzinga 的批准或认可。</em></p>
</div><p><em>Photo: Shutterstock</em></p>
<div class="lb-trans"><p><em>照片来源：Shutterstock</em></p>
</div>

3 Small-Cap Stocks To Play When The Fed Cuts Interest Rates

- 美国小型股在 2025 年下半年表现强劲，S&P Small Cap 600 指数上涨 10.7%。  
- 预计美联储将在 9 月中旬降息，这将进一步利好小型股。  
- 小型股与美国经济密切相关，降息可能刺激经济增长。  

美联储降息时可考虑投资的三只小盘股