The Naz is still not even at 50% of 2000' peak, so why is the $iux getting that close to its peak and the Naz is not. Quite simple, the Naz and the IUX are capitalization weighed, except that the Russel 2000 has a "cleaning process", whereby a failing company is replaced with the next growth company coming up, wile if the Naz loses 2000 issues (roughly what it has lost since 2000) that capitalization is lost for good. The same applies to the Dow, failing companies are replaced with more mature but not yet declining companies. AIG, a steady grower was just added while T a floundering giant was removed, so the Dow will over time slightly outperform other indices that d not have a "cleansing process".