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Mutual Funds and ETFs Scorecard: April 13 Edition

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Every fortnight, MutualFunds.com provides a snapshot of the performance of some key mutual funds and ETFs to highlight the trending sectors, geographic regions, and asset classes. MutualFunds.com uses a system to automatically scan through thousands of relevant securities and, to ensure quality and adequate track record, places a minimum threshold on net assets ($1 billion for mutual funds and $500 million for ETFs). The best and worst performers are further discussed in the report along with key economic highlights from the past fortnight, reminding you to adjust your portfolios, if required.

Performance Scorecard

After weeks of poor performance, markets have reversed losses. Small-caps have been among the best performers along with Chinese stocks and healthcare equities. This does not mean we are out of the woods just yet, as economic data like inflation continues to surprise to the downside, raising the prospect of abrupt interest rate hikes.
MF & ETF Scorecard Graph - Category Performance - May 27

US Broad mostly includes funds focused on US equities and can cover different investing styles (growth/value) and market capitalizations (small/mid/large). Fixed Income includes funds focused on debt securities and can cover different geographies (US/foreign) and security types (corporate/municipal/high-yield/investment-grade/government/structured). Alternatives cover funds focused on non-traditional investment strategies (currency, hedge fund strategy, derivatives), leveraged/structured products, real estate, and commodities. Dividend funds focus on generating income via equities and not through debt.

 

U.S. Broad

Small-caps were the best performers these past two weeks, as investors preferred companies that are chiefly exposed to the U.S. economy. Growth-focused funds, in general, continued to underperform.

 

Top Performers

 

  • Mutual Funds: Artisan Small Cap Fund (APDSX) , up 7.7%, and BNY Mellon Small/Mid Cap Growth Fund (DBMZX), up 4.93%.
  • ETFs: iShares Russell 2000 Growth ETF (IWO) , up 1.64%, and First Trust US Equity Opportunities ETF (FPX), up 1.61%.

 

Worst Performers

 

  • Mutual Funds: Voya Russell Large Cap Growth Index Portfolio (IRLAX) , down -12.56%, and Voya Russell Small Cap Index Portfolio (IRSIX), down -9.32%.
  • ETFs: iShares Core S&P U.S. Growth ETF (IUSG) , down -2.85%, and Fidelity® Nasdaq Composite Index® ETF (ONEQ), down -2.46%.

 

Dividend

Despite a relatively upbeat fortnight for the overall markets, only a handful of dividend funds posted positive performance, with global dividend funds leading the way.

 

Top Performers

 

  • Mutual Funds: Janus Henderson Global Equity Income Fund (HFQAX) , up 3.15%, and BlackRock Global Dividend Portfolio (BIBDX), up 1.54%.
  • ETFs: First Trust Dow Jones Global Select Dividend Index Fund (FGD) , up 2.74%, and First Trust Morningstar Dividend Leaders Index Fund (FDL), up 1.03%.

 

Worst Performers

 

  • Mutual Funds: DWS CROCI Equity Dividend Fd (KDHSX) , down -3.58%, and Vanguard Dividend Appreciation Index Fund (VDADX), down -2.92%.
  • ETFs: Invesco BuyBack Achievers ETF (PKW) , down -4.19%, and ProShares S&P 500 Dividend Aristocrats ETF (NOBL), down -2.99%.

 

Fixed Income

In the fixed income segment, the majority of the funds posted positive performance with long-term bond-focused funds outperforming other bond funds. At the other end of the spectrum were high yield and tactical bond funds.

 

Top Performers

 

  • Mutual Funds: PIMCO Extended Duration Fund (PEDPX) , up 4.55%, and Vanguard Extended Duration Treasury Index Fund (VEDIX), up 4.34%.
  • ETFs: iShares 20+ Year Treasury Bond ETF (TLT) , up 3.35%, and SPDR® Portfolio Long Term Treasury ETF (SPTL), up 3.3%.

 

Worst Performers

 

  • Mutual Funds: AlphaCentric Income Opportunities Fund (IOFCX) , down -8.42%, and Delaware Ivy Mid Cap Income Opportunities Fund (IVOYX), down -2.77%.
  • ETFs: ProShares UltraShort 20+ Year Treasury (TBT) , down -6.91%, and ProShares Short 20+ Year Treasury (TBF), down -3.46%.

 

Sector

Healthcare and biotechnology stocks have been the best performers, as apparently they have been in oversold territory for quite a while. Real estate and technology shares were among the worst performers.

 

Top Performers

 

  • Mutual Funds: Eventide Healthcare & Life Sciences Fund (ETAHX) , up 12.24%, and Fidelity® Select Biotechnology Portfolio (FBIOX), up 9.7%.
  • ETFs: Direxion Daily S&P Biotech Bull 3X Shares (LABU) , up 23.48%, and Direxion Daily Energy Bull 2X Shares (ERX), up 15.24%.

 

Worst Performers

 

  • Mutual Funds: JPMorgan Realty Income Fund (JRIRX) , down -13.74%, and Rydex NASDAQ-100® 2x Strategy Fund (RYVLX), down -6.33%.
  • ETFs: iShares Mortgage Real Estate Capped ETF (REM) , down -17.39%, and Direxion Daily Technology Bull 3X Shares (TECL), down -10.76%.

 

Foreign

Chinese shares have again been the best performers as investors flocked into the market in the belief it has reached its nadir and will be buoyed by the lifting of lockdowns in China. On the other end of the spectrum were funds focused on Saudi Arabia and India.

 

Top Performers

 

  • Mutual Funds: Matthews China Fund (MCHFX) , up 8.98%, and Brown Capital Management International Small Company Fund (BCSVX), up 6.43%.
  • ETFs: iShares MSCI Brazil ETF (EWZ) , up 11.14%, and iShares Latin America 40 ETF (ILF), up 11.01%.

 

Worst Performers

 

  • Mutual Funds: Eaton Vance Emerging Markets Debt Opportunities Fund (EIDOX) , down -0.91%, and Invesco American Franchise Fund (VAFAX), down -0.8%.
  • ETFs: iShares MSCI Saudi Arabia ETF (KSA) , down -10.19%, and WisdomTree India Earnings Fund (EPI), down -1.59%.

 

Alternatives

Commodities have again outperformed in alternative assets, while managed futures and funds focused on managing volatility have rather disappointed.

 

Top Performers

 

  • Mutual Funds: PIMCO Commodity Real Return Strategy Fund (PCRIX) , up 4.88%, and Fidelity® Series Commodity Strategy Fund (FCSSX), up 4.88%.
  • ETFs: iShares S&P GSCI Commodity-Indexed Trust (GSG) , up 6.31%, and FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR), up 5.59%.

 

Worst Performers

 

  • Mutual Funds: PIMCO TRENDS Managed Futures Strategy Fund (PQTIX) , down -2.99%, and SEI Institutional Investments Trust U.S. Managed Volatility Fund (SVYAX), down -2.47%.
  • ETFs: ProShares Ultra VIX Short-Term Futures ETF (UVXY) , down -17.86%, and Invesco Variable Rate Preferred ETF (VRP), down -2.07%.

 

ESG

Only two ESG funds have recorded positive performances, as investors continue to shun sustainability stocks.

 

Top Performers

 

  • Mutual Funds: Brown Advisory Sustainable Growth Fund (BAFWX) , up 2.39%, and PIMCO Total Return ESG Fund (PTGCX), up 0.49%.

 

Worst Performers

 

  • Mutual Funds: Fidelity® US Sustainability Index Fund (FITLX) , down -2.51%, and Putnam Sustainable Leaders Fund (PNOPX), down -2.41%.
  • ETFs: Xtrackers MSCI USA ESG Leaders Equity ETF (USSG) , down -2.48%, and iShares MSCI KLD 400 Social ETF (DSI), down -2.47%.

 

Key Economic Indicators

Among major economic data released during the last two weeks, U.S. inflation declined slightly in April from 8.5% to 8.3%, although analysts expected a bigger drop. U.S. unemployment claims have edged up over the past two weeks, but remain at levels indicating a strong labor market. U.S. consumer sentiment hit a decade low at 59.1, chiefly due to accelerating inflation. Retail sales in the U.S. rose slightly less than expected in April.

The U.K. economy has expanded by 0.8% in the first quarter compared with the previous one. However, U.K. inflation accelerated to 9%. European inflation stands at 7.4%.

Fund performance data is calculated for the period between May 6 and May 20.


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working in a medical lab

Mutual Funds and ETFs Scorecard: April 13 Edition

Every fortnight, MutualFunds.com provides a snapshot of the performance of some key mutual funds and ETFs to highlight the trending sectors, geographic regions, and asset classes. MutualFunds.com uses a system to automatically scan through thousands of relevant securities and, to ensure quality and adequate track record, places a minimum threshold on net assets ($1 billion for mutual funds and $500 million for ETFs). The best and worst performers are further discussed in the report along with key economic highlights from the past fortnight, reminding you to adjust your portfolios, if required.

Performance Scorecard

After weeks of poor performance, markets have reversed losses. Small-caps have been among the best performers along with Chinese stocks and healthcare equities. This does not mean we are out of the woods just yet, as economic data like inflation continues to surprise to the downside, raising the prospect of abrupt interest rate hikes.
MF & ETF Scorecard Graph - Category Performance - May 27

US Broad mostly includes funds focused on US equities and can cover different investing styles (growth/value) and market capitalizations (small/mid/large). Fixed Income includes funds focused on debt securities and can cover different geographies (US/foreign) and security types (corporate/municipal/high-yield/investment-grade/government/structured). Alternatives cover funds focused on non-traditional investment strategies (currency, hedge fund strategy, derivatives), leveraged/structured products, real estate, and commodities. Dividend funds focus on generating income via equities and not through debt.

 

U.S. Broad

Small-caps were the best performers these past two weeks, as investors preferred companies that are chiefly exposed to the U.S. economy. Growth-focused funds, in general, continued to underperform.

 

Top Performers

 

  • Mutual Funds: Artisan Small Cap Fund (APDSX) , up 7.7%, and BNY Mellon Small/Mid Cap Growth Fund (DBMZX), up 4.93%.
  • ETFs: iShares Russell 2000 Growth ETF (IWO) , up 1.64%, and First Trust US Equity Opportunities ETF (FPX), up 1.61%.

 

Worst Performers

 

  • Mutual Funds: Voya Russell Large Cap Growth Index Portfolio (IRLAX) , down -12.56%, and Voya Russell Small Cap Index Portfolio (IRSIX), down -9.32%.
  • ETFs: iShares Core S&P U.S. Growth ETF (IUSG) , down -2.85%, and Fidelity® Nasdaq Composite Index® ETF (ONEQ), down -2.46%.

 

Dividend

Despite a relatively upbeat fortnight for the overall markets, only a handful of dividend funds posted positive performance, with global dividend funds leading the way.

 

Top Performers

 

  • Mutual Funds: Janus Henderson Global Equity Income Fund (HFQAX) , up 3.15%, and BlackRock Global Dividend Portfolio (BIBDX), up 1.54%.
  • ETFs: First Trust Dow Jones Global Select Dividend Index Fund (FGD) , up 2.74%, and First Trust Morningstar Dividend Leaders Index Fund (FDL), up 1.03%.

 

Worst Performers

 

  • Mutual Funds: DWS CROCI Equity Dividend Fd (KDHSX) , down -3.58%, and Vanguard Dividend Appreciation Index Fund (VDADX), down -2.92%.
  • ETFs: Invesco BuyBack Achievers ETF (PKW) , down -4.19%, and ProShares S&P 500 Dividend Aristocrats ETF (NOBL), down -2.99%.

 

Fixed Income

In the fixed income segment, the majority of the funds posted positive performance with long-term bond-focused funds outperforming other bond funds. At the other end of the spectrum were high yield and tactical bond funds.

 

Top Performers

 

  • Mutual Funds: PIMCO Extended Duration Fund (PEDPX) , up 4.55%, and Vanguard Extended Duration Treasury Index Fund (VEDIX), up 4.34%.
  • ETFs: iShares 20+ Year Treasury Bond ETF (TLT) , up 3.35%, and SPDR® Portfolio Long Term Treasury ETF (SPTL), up 3.3%.

 

Worst Performers

 

  • Mutual Funds: AlphaCentric Income Opportunities Fund (IOFCX) , down -8.42%, and Delaware Ivy Mid Cap Income Opportunities Fund (IVOYX), down -2.77%.
  • ETFs: ProShares UltraShort 20+ Year Treasury (TBT) , down -6.91%, and ProShares Short 20+ Year Treasury (TBF), down -3.46%.

 

Sector

Healthcare and biotechnology stocks have been the best performers, as apparently they have been in oversold territory for quite a while. Real estate and technology shares were among the worst performers.

 

Top Performers

 

  • Mutual Funds: Eventide Healthcare & Life Sciences Fund (ETAHX) , up 12.24%, and Fidelity® Select Biotechnology Portfolio (FBIOX), up 9.7%.
  • ETFs: Direxion Daily S&P Biotech Bull 3X Shares (LABU) , up 23.48%, and Direxion Daily Energy Bull 2X Shares (ERX), up 15.24%.

 

Worst Performers

 

  • Mutual Funds: JPMorgan Realty Income Fund (JRIRX) , down -13.74%, and Rydex NASDAQ-100® 2x Strategy Fund (RYVLX), down -6.33%.
  • ETFs: iShares Mortgage Real Estate Capped ETF (REM) , down -17.39%, and Direxion Daily Technology Bull 3X Shares (TECL), down -10.76%.

 

Foreign

Chinese shares have again been the best performers as investors flocked into the market in the belief it has reached its nadir and will be buoyed by the lifting of lockdowns in China. On the other end of the spectrum were funds focused on Saudi Arabia and India.

 

Top Performers

 

  • Mutual Funds: Matthews China Fund (MCHFX) , up 8.98%, and Brown Capital Management International Small Company Fund (BCSVX), up 6.43%.
  • ETFs: iShares MSCI Brazil ETF (EWZ) , up 11.14%, and iShares Latin America 40 ETF (ILF), up 11.01%.

 

Worst Performers

 

  • Mutual Funds: Eaton Vance Emerging Markets Debt Opportunities Fund (EIDOX) , down -0.91%, and Invesco American Franchise Fund (VAFAX), down -0.8%.
  • ETFs: iShares MSCI Saudi Arabia ETF (KSA) , down -10.19%, and WisdomTree India Earnings Fund (EPI), down -1.59%.

 

Alternatives

Commodities have again outperformed in alternative assets, while managed futures and funds focused on managing volatility have rather disappointed.

 

Top Performers

 

  • Mutual Funds: PIMCO Commodity Real Return Strategy Fund (PCRIX) , up 4.88%, and Fidelity® Series Commodity Strategy Fund (FCSSX), up 4.88%.
  • ETFs: iShares S&P GSCI Commodity-Indexed Trust (GSG) , up 6.31%, and FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR), up 5.59%.

 

Worst Performers

 

  • Mutual Funds: PIMCO TRENDS Managed Futures Strategy Fund (PQTIX) , down -2.99%, and SEI Institutional Investments Trust U.S. Managed Volatility Fund (SVYAX), down -2.47%.
  • ETFs: ProShares Ultra VIX Short-Term Futures ETF (UVXY) , down -17.86%, and Invesco Variable Rate Preferred ETF (VRP), down -2.07%.

 

ESG

Only two ESG funds have recorded positive performances, as investors continue to shun sustainability stocks.

 

Top Performers

 

  • Mutual Funds: Brown Advisory Sustainable Growth Fund (BAFWX) , up 2.39%, and PIMCO Total Return ESG Fund (PTGCX), up 0.49%.

 

Worst Performers

 

  • Mutual Funds: Fidelity® US Sustainability Index Fund (FITLX) , down -2.51%, and Putnam Sustainable Leaders Fund (PNOPX), down -2.41%.
  • ETFs: Xtrackers MSCI USA ESG Leaders Equity ETF (USSG) , down -2.48%, and iShares MSCI KLD 400 Social ETF (DSI), down -2.47%.

 

Key Economic Indicators

Among major economic data released during the last two weeks, U.S. inflation declined slightly in April from 8.5% to 8.3%, although analysts expected a bigger drop. U.S. unemployment claims have edged up over the past two weeks, but remain at levels indicating a strong labor market. U.S. consumer sentiment hit a decade low at 59.1, chiefly due to accelerating inflation. Retail sales in the U.S. rose slightly less than expected in April.

The U.K. economy has expanded by 0.8% in the first quarter compared with the previous one. However, U.K. inflation accelerated to 9%. European inflation stands at 7.4%.

Fund performance data is calculated for the period between May 6 and May 20.


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