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chief ETF strategistCNBC
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79% Informative
Russell 2000's small-cap index gained 10.1% in July , but it's dropped roughly 4% so far in August .
An estimate from Apollo Global shows 40% of those companies have negative earnings.
ALPS ' Paul Baiocchi chalks up the volatile moves to the index's overall composition.
He suggests investors look at more selective exchange-traded funds.
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