In the end, the rebound of highly cyclical Energy (+128.4%), Basic Materials (+123.2%) and Industrials (+111.9%) sectors are the big winners since the March 2020 low.

Performance of the various S&P500 sectors in 2020, since the beginning of 2021 and since the March 2020 low:

Source: Charles Schwab & Bloomberg

Russell 1000/2000 Value and Growth comparison over the same periods:

Source: Charles Schwab & Bloomberg