Owens Corning is a leading global manufacturer of composite and building materials. The company's products include insulation, roofing and doors for residential, commercial and industrial applications. Based in Toledo, OH, the company has about 25,000 employees. The shares are a component of the S&P 400 Mid-Cap index.

Stocks see-sawed on Thursday, buffeted by good news/bad news headlines about the war in Iran and inflation in the U.S. But once all was said and done, the major indices were all higher, continuing the recent winning streak built on optimism that a resolution to the military action may be nearing.

Despite bursts of outperformance, small- and mid-cap stocks (SMID) have underperformed large-caps year to date -- as they have over the past six years. But they may be in a better position to generate market-beating returns going forward. SMID companies tend to focus on domestic markets, so their businesses could be less disrupted by the trade and tariff debate, fallout from unrest in the Middle East, the Russian invasion of Ukraine, issues in China, or other geopolitical developments. As well, the prices of SMID stocks generally are lower than the prices of large-caps, with the P/E ratio on the Russell 2000 SmallCap Index at 20, compared to a trailing P/E of 29 for the S&P 500. Finally, there are long stretches in the record books when SMID stocks have outperformed large-caps. SMID risks do carry risk, but diversified investors look to have exposure to small- and mid-caps based on the long-term performance record.

Owens Corning is a leading global manufacturer of composite and building materials. The company's products include insulation, roofing and doors for residential, commercial and industrial applications. Based in Toledo, OH, the company has about 25,000 employees. The shares are a component of the S&P 400 Mid-Cap index.