Mutual Funds Scorecard: July 28 Edition
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Mutual Funds Scorecard: July 28 Edition

Man turning a knob to select high yield investment.
MutualFunds.com provides a snapshot of the performance of some key mutual funds which tries to accurately capture the investor interest in specific areas of the financial markets. The report is aimed at providing a quick overview of the sectors, regions and asset classes that moved in a meaningful manner during the last two weeks.

 

  • Daily new coronavirus cases have continued to trend down, even as countries are reopening their economies. In the developed world, the number of fatal cases has been falling, as most infections affect young people, who are more resilient. The U.S. is still the leader in total cases, but the number of daily cases is higher in countries like the UK and Russia.
  • The Bank of Japan has maintained its monetary policy unchanged, despite cutting its economic growth projections from 4% to 3.6% this year. In addition, the bank instituted a climate change scheme, under which banks that invest in activities to combat climate change will receive free funding.
  • The European Central Bank (ECB) has maintained its accommodative monetary policy steady, and made commitments to keep its 1.8 trillion euro bond program intact until it ends in March 2022. The bank also revised its inflation target to 2% and noted that inflation may rise above its target during a transitory period.
  • U.S. inflation has risen 0.9% month-over-month in June, higher than analysts’ expectations of 0.5%. Year-over-year, the consumer price index is up 5.4%, the highest level in 13 years. Core CPI is up 0.9% month-over-month and 4.5% year-over-year. If inflation continues to rise or continues to be at current levels, it may present a headache for the Federal Reserve.
  • U.S. retail sales have increased by 0.6% in June month-over-month, much better than pundits’ prediction of a 0.4% decline. Core retail sales, which exclude volatile automobile sales, were up 1.3%.
  • OPEC and Russia have finally reached an agreement to boost oil supplies, after Saudi Arabia and the United Arab Emirates resolved a dispute. The cartel will start increasing production in August by 400,000 barrels per day, or about 2% of the world’s supply.
  • Crude oil inventories rose 2.1 million for the week ended July 16, the first advance in nine weeks. In the prior week, crude stockpiles declined by 7.9 million.
  • U.S. unemployment claims have risen slightly over the past two weeks ended July 16, but remained below the 800,000 level.
  • European flash manufacturing purchasing managers’ index (PMI) declined slightly to 60.4, but remained near record levels. Services PMI rose to 60.4 in July, the highest level since records began in 2007. The optimism could be attributed to the reopening of the world’s economies.
  • We provide this report on a fortnightly basis. To stay up to date with mutual fund market events, come back to our news page here.

U.S. Broad Indices

  • U.S. equities have all posted gains these past two weeks, with one exception.
  • Vanguard Small-Cap Index Fund Institutional Shares (VSCIX) is the worst performer from the pack, with a decline of 2%. Small-caps have posted negative gains for two fortnights in a row.
  • At the other end of the spectrum is Vanguard 500 Index Fund Admiral Shares (VFIAX), which rose 1%.

Fixed Income

  • Fixed income assets are all up, with one exception.
  • Vanguard High-Yield Corporate Fund Investor Shares (VWEHX) is the only faller from the bunch, down 0.17%.
  • Meanwhile, Vanguard Long-Term Investment-Grade Fund Investor Shares (VWESX) is up 0.80%, which is the best performance from the pack.

Major Sectors

  • Sectors are rather mixed.
  • Vanguard Information Technology Index Fund Admiral Shares (VITAX) is the best performer for two fortnights in a row. This fortnight, the technology shares are up 1.9%.
  • Meanwhile, Vanguard Energy Fund Investor Shares (VGENX) is again the worst performer, down 3.6%.

Foreign Equities

  • Foreign equities were mostly down.
  • Fidelity® China Region Fund (FHKCH) is again the worst performer, posting a decline of 2.6%.
  • At the same time, Matthews India Fund Investor Class (MINDX) gained 0.54%, the best performance by far.

Alternatives

  • Alternative assets were all up, with one exception.
  • PIMCO CommodityRealReturn Strategy Fund Institutional Class (PCRIX) is up 2.8%, representing the best performance by far.
  • PIMCO Emerging Markets Currency and Short-Term Investments Fund Institutional Class (PLMIX) shed 0.13%, the only faller from the pack.

The Bottom Line

Small-caps, high-yield bonds, energy shares, and Chinese stocks are among the biggest losers over the past two fortnights. Meanwhile, technology shares, investment grade bonds, and Indian shares have been among investors’ favorite bets.

Be sure to sign up for your free newsletter here to receive the most relevant updates.

Fund returns data are for the two-week period between July 9, 2021, to July 23, 2021.


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Man turning a knob to select high yield investment.

Mutual Funds Scorecard: July 28 Edition

MutualFunds.com provides a snapshot of the performance of some key mutual funds which tries to accurately capture the investor interest in specific areas of the financial markets. The report is aimed at providing a quick overview of the sectors, regions and asset classes that moved in a meaningful manner during the last two weeks.

 

  • Daily new coronavirus cases have continued to trend down, even as countries are reopening their economies. In the developed world, the number of fatal cases has been falling, as most infections affect young people, who are more resilient. The U.S. is still the leader in total cases, but the number of daily cases is higher in countries like the UK and Russia.
  • The Bank of Japan has maintained its monetary policy unchanged, despite cutting its economic growth projections from 4% to 3.6% this year. In addition, the bank instituted a climate change scheme, under which banks that invest in activities to combat climate change will receive free funding.
  • The European Central Bank (ECB) has maintained its accommodative monetary policy steady, and made commitments to keep its 1.8 trillion euro bond program intact until it ends in March 2022. The bank also revised its inflation target to 2% and noted that inflation may rise above its target during a transitory period.
  • U.S. inflation has risen 0.9% month-over-month in June, higher than analysts’ expectations of 0.5%. Year-over-year, the consumer price index is up 5.4%, the highest level in 13 years. Core CPI is up 0.9% month-over-month and 4.5% year-over-year. If inflation continues to rise or continues to be at current levels, it may present a headache for the Federal Reserve.
  • U.S. retail sales have increased by 0.6% in June month-over-month, much better than pundits’ prediction of a 0.4% decline. Core retail sales, which exclude volatile automobile sales, were up 1.3%.
  • OPEC and Russia have finally reached an agreement to boost oil supplies, after Saudi Arabia and the United Arab Emirates resolved a dispute. The cartel will start increasing production in August by 400,000 barrels per day, or about 2% of the world’s supply.
  • Crude oil inventories rose 2.1 million for the week ended July 16, the first advance in nine weeks. In the prior week, crude stockpiles declined by 7.9 million.
  • U.S. unemployment claims have risen slightly over the past two weeks ended July 16, but remained below the 800,000 level.
  • European flash manufacturing purchasing managers’ index (PMI) declined slightly to 60.4, but remained near record levels. Services PMI rose to 60.4 in July, the highest level since records began in 2007. The optimism could be attributed to the reopening of the world’s economies.
  • We provide this report on a fortnightly basis. To stay up to date with mutual fund market events, come back to our news page here.

U.S. Broad Indices

  • U.S. equities have all posted gains these past two weeks, with one exception.
  • Vanguard Small-Cap Index Fund Institutional Shares (VSCIX) is the worst performer from the pack, with a decline of 2%. Small-caps have posted negative gains for two fortnights in a row.
  • At the other end of the spectrum is Vanguard 500 Index Fund Admiral Shares (VFIAX), which rose 1%.

Fixed Income

  • Fixed income assets are all up, with one exception.
  • Vanguard High-Yield Corporate Fund Investor Shares (VWEHX) is the only faller from the bunch, down 0.17%.
  • Meanwhile, Vanguard Long-Term Investment-Grade Fund Investor Shares (VWESX) is up 0.80%, which is the best performance from the pack.

Major Sectors

  • Sectors are rather mixed.
  • Vanguard Information Technology Index Fund Admiral Shares (VITAX) is the best performer for two fortnights in a row. This fortnight, the technology shares are up 1.9%.
  • Meanwhile, Vanguard Energy Fund Investor Shares (VGENX) is again the worst performer, down 3.6%.

Foreign Equities

  • Foreign equities were mostly down.
  • Fidelity® China Region Fund (FHKCH) is again the worst performer, posting a decline of 2.6%.
  • At the same time, Matthews India Fund Investor Class (MINDX) gained 0.54%, the best performance by far.

Alternatives

  • Alternative assets were all up, with one exception.
  • PIMCO CommodityRealReturn Strategy Fund Institutional Class (PCRIX) is up 2.8%, representing the best performance by far.
  • PIMCO Emerging Markets Currency and Short-Term Investments Fund Institutional Class (PLMIX) shed 0.13%, the only faller from the pack.

The Bottom Line

Small-caps, high-yield bonds, energy shares, and Chinese stocks are among the biggest losers over the past two fortnights. Meanwhile, technology shares, investment grade bonds, and Indian shares have been among investors’ favorite bets.

Be sure to sign up for your free newsletter here to receive the most relevant updates.

Fund returns data are for the two-week period between July 9, 2021, to July 23, 2021.


Sign up for Advisor Access

Receive email updates about best performers, news, CE accredited webcasts and more.

Popular Articles

Download our free report

Find out why $30 trillon is invested in mutual funds.

Why 30 trillion is invested in mutual funds book

Why 30 trillion is invested in mutual funds book

Download our free report

Find out why $30 trillon is invested in mutual funds.

Why 30 trillion is invested in mutual funds book

Download our free report

Find out why $30 trillon is invested in mutual funds.


Read Next