NEW YORK (TheStreet) -- Plenty of academic studies show that unloved value stocks have outdone high-priced growth shares over the long term. But value has struggled lately. During the past five years, the Russell 1000 Growth index has returned 4.1% annually, while the Russell 1000 Value lost 1.6%. Value also trails for the past decade.Growth stocks have led partly because financials account for a heavy weighting in the value benchmark. During the financial crisis, banks and insurance companies were crushed, and they still sell at low multiples compared to historical levels.