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Mutual Funds and ETFs Scorecard: December 21 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

The rally has ended and the markets have broadly posted losses in the past fortnight for the first time in many weeks. Investors suddenly realized that a strong consumer and job market will likely keep inflation up, which, in turn, will prompt the Federal Reserve to keep rates elevated for longer.
MF & ETF Scorecard Graph - Category Performance - Mar 1

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

Almost all major U.S. equity indices have posted losses this fortnight, with mid-cap growth-based funds registering the least losses.

 

Worst Performers

 

  • Mutual Funds: Edgewood Growth Fund (EGFIX) , down -5.69%, and HCM Tactical Growth Fund (HCMDX), down -5.36%.
  • ETFs: Schwab U.S. Large-Cap Growth ETF™ (SCHG) , down -4.38%, and Fidelity® Nasdaq Composite Index® ETF (ONEQ), down -4.16%.

 

Dividend

Dividend stocks have also been down across the board, with dividend growers posting the least losses.

 

Worst Performers

 

  • Mutual Funds: Matthews Asia Dividend Fund (MIPIX) , down -5.28%, and HCM Dividend Sector Plus Fund (HCMNX), down -4.82%.
  • ETFs: O’Shares U.S. Quality Dividend ETF (OUSA) , down -4.63%, and Invesco S&P Ultra Dividend Revenue ETF (RDIV), down -4.56%.

 

Fixed Income

International, high yield and funds shorting long-term Treasuries have been the best fixed income performers while inflation-linked bonds recorded big declines.

 

Top Performers

 

  • Mutual Funds: T. Rowe Price Dynamic Global Bond Fund (TRDZX) , up 1.43%, and RiverPark Short Term High Yield Fund (RPHIX), up 0.1%.
  • ETFs: ProShares UltraShort 20+ Year Treasury (TBT) , up 6.87%, and ProShares Short 20+ Year Treasury (TBF), up 3.55%.

 

Worst Performers

 

  • Mutual Funds: PIMCO Extended Duration Fund (PEDPX) , down -4.2%, and Vanguard Extended Duration Treasury Index Fund (VEDIX), down -4.15%.
  • ETFs: Horizon Kinetics Inflation Beneficiaries ETF (INFL) , down -5.13%, and Invesco CEF Income Composite ETF (PCEF), down -3.93%.

 

Sector

Most sectors were down, with technology and precious metal stocks among the worst performers. Meanwhile, a fund that has exposure to carbon credits has been among the few gainers along with funds that had shorted tech equities.

 

Top Performers

 

  • Mutual Funds: Invesco SteelPath MLP Select 40 Fund (MLPEX) , down -1.03%, and Franklin Utilities Fund (FKUTX), down -1.52%.
  • ETFs: ProShares UltraPro Short QQQ (SQQQ) , up 13.36%, and ProShares Short QQQ (PSQ), up 4.42%.

 

Worst Performers

 

  • Mutual Funds: Rydex NASDAQ-100® 2x Strategy Fund (RYVLX) , down -8.59%, and ProFunds UltraNASDAQ-100 Fund (UOPIX), down -8.55%.
  • ETFs: Direxion Daily S&P Biotech Bull 3X Shares (LABU) , down -15.06%, and Direxion Daily Technology Bull 3X Shares (TECL), down -14.25%.

 

Foreign

Mexican equities have been among the few foreign stocks that showed gains, while Chinese shares have plummeted.

 

Top Performers

 

  • Mutual Funds: Eaton Vance Emerging Markets Debt Opportunities Fund (EIDOX) , down -0.4%, and FMI International Fund (FMIJX), down -0.81%.
  • ETFs: WisdomTree Europe Hedged Equity Fund (HEDJ) , up 0.78%, and iShares MSCI Mexico ETF (EWW), up 0.23%.

 

Worst Performers

 

  • Mutual Funds: Matthews Asia Innovators Fund (MATFX) , down -9.73%, and Matthews China Fund (MCHFX), down -9.23%.
  • ETFs: WisdomTree China ex-State-Owned Enterprises Fund (CXSE) , down -9.99%, and EMQQ The Emerging Markets Internet & Ecommerce ETF (EMQQ), down -9.68%.

 

Alternatives

Alternatives has been the only sector that posted a relatively strong performance. Managed futures and volatility instruments have been the best performers, while precious metals (inc. gold and silver) and natural resource-focused funds have been pummelled.

 

Top Performers

 

  • Mutual Funds: AQR Managed Futures Strategy Fund (AQMIX) , up 3.15%, and Victory Market Neutral Income Fund (CBHAX), up 1.19%.
  • ETFs: ProShares Ultra VIX Short-Term Futures ETF (UVXY) , up 7.92%, and Invesco S&P SmallCap Low Volatility ETF (XSLV), up 2.51%.

 

Worst Performers

 

  • Mutual Funds: Fidelity® Select Gold Portfolio (FSAGX) , down -7.44%, and Columbia Contrarian Core Fund (SMGIX), down -4.17%.
  • ETFs: ProShares Ultra Silver (AGQ) , down -11.5%, and FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR), down -5.3%.

 

ESG

Almost all ESG funds have posted losses.

 

Worst Performers

 

  • Mutual Funds: Vanguard FTSE Social Index Fund (VFTNX) , down -4.01%, and Putnam Sustainable Leaders Fund (PNOPX), down -3.93%.
  • ETFs: Xtrackers S&P 500 ESG ETF (SNPE) , down -4.1%, and Xtrackers MSCI USA ESG Leaders Equity ETF (USSG), down -3.85%.

Key Economic Indicators

Among major economic data released during the last two weeks, U.S. consumer sentiment has continued to improve, reaching a one-year high.

The U.S. Consumer Price Index, a gauge of inflation, has declined from 6.5% to 6.4%, but the fall was lower than analysts had expected. At the same time, retail sales surged 3%, the highest reading since February of last year, and well above expectations. Unemployment claims fell below 200,000 in each of the past two weeks, further indicating a strong job market. Finally, U.S. GDP grew by 2.7% in the fourth quarter, slightly lower than economists’ expectations. Along with a strong jobs market and high inflation, strong consumer sentiment continues to raise the prospect of higher interest rates for longer.

Meanwhile, U.K.’s inflation managed to surprise analysts. It fell from 10.5% to 10.1%, a higher decline than expectations. Both manufacturing and services sentiments have improved in the U.K., but only services climbed into territory indicating expansion. A similar picture emerged in the U.S., with services PMI in positive territory and manufacturing in recession.

Fund performance data is calculated for the period between February 13 and February 27.


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Health care stocks are up

Mutual Funds and ETFs Scorecard: December 21 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

The rally has ended and the markets have broadly posted losses in the past fortnight for the first time in many weeks. Investors suddenly realized that a strong consumer and job market will likely keep inflation up, which, in turn, will prompt the Federal Reserve to keep rates elevated for longer.
MF & ETF Scorecard Graph - Category Performance - Mar 1

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

Almost all major U.S. equity indices have posted losses this fortnight, with mid-cap growth-based funds registering the least losses.

 

Worst Performers

 

  • Mutual Funds: Edgewood Growth Fund (EGFIX) , down -5.69%, and HCM Tactical Growth Fund (HCMDX), down -5.36%.
  • ETFs: Schwab U.S. Large-Cap Growth ETF™ (SCHG) , down -4.38%, and Fidelity® Nasdaq Composite Index® ETF (ONEQ), down -4.16%.

 

Dividend

Dividend stocks have also been down across the board, with dividend growers posting the least losses.

 

Worst Performers

 

  • Mutual Funds: Matthews Asia Dividend Fund (MIPIX) , down -5.28%, and HCM Dividend Sector Plus Fund (HCMNX), down -4.82%.
  • ETFs: O’Shares U.S. Quality Dividend ETF (OUSA) , down -4.63%, and Invesco S&P Ultra Dividend Revenue ETF (RDIV), down -4.56%.

 

Fixed Income

International, high yield and funds shorting long-term Treasuries have been the best fixed income performers while inflation-linked bonds recorded big declines.

 

Top Performers

 

  • Mutual Funds: T. Rowe Price Dynamic Global Bond Fund (TRDZX) , up 1.43%, and RiverPark Short Term High Yield Fund (RPHIX), up 0.1%.
  • ETFs: ProShares UltraShort 20+ Year Treasury (TBT) , up 6.87%, and ProShares Short 20+ Year Treasury (TBF), up 3.55%.

 

Worst Performers

 

  • Mutual Funds: PIMCO Extended Duration Fund (PEDPX) , down -4.2%, and Vanguard Extended Duration Treasury Index Fund (VEDIX), down -4.15%.
  • ETFs: Horizon Kinetics Inflation Beneficiaries ETF (INFL) , down -5.13%, and Invesco CEF Income Composite ETF (PCEF), down -3.93%.

 

Sector

Most sectors were down, with technology and precious metal stocks among the worst performers. Meanwhile, a fund that has exposure to carbon credits has been among the few gainers along with funds that had shorted tech equities.

 

Top Performers

 

  • Mutual Funds: Invesco SteelPath MLP Select 40 Fund (MLPEX) , down -1.03%, and Franklin Utilities Fund (FKUTX), down -1.52%.
  • ETFs: ProShares UltraPro Short QQQ (SQQQ) , up 13.36%, and ProShares Short QQQ (PSQ), up 4.42%.

 

Worst Performers

 

  • Mutual Funds: Rydex NASDAQ-100® 2x Strategy Fund (RYVLX) , down -8.59%, and ProFunds UltraNASDAQ-100 Fund (UOPIX), down -8.55%.
  • ETFs: Direxion Daily S&P Biotech Bull 3X Shares (LABU) , down -15.06%, and Direxion Daily Technology Bull 3X Shares (TECL), down -14.25%.

 

Foreign

Mexican equities have been among the few foreign stocks that showed gains, while Chinese shares have plummeted.

 

Top Performers

 

  • Mutual Funds: Eaton Vance Emerging Markets Debt Opportunities Fund (EIDOX) , down -0.4%, and FMI International Fund (FMIJX), down -0.81%.
  • ETFs: WisdomTree Europe Hedged Equity Fund (HEDJ) , up 0.78%, and iShares MSCI Mexico ETF (EWW), up 0.23%.

 

Worst Performers

 

  • Mutual Funds: Matthews Asia Innovators Fund (MATFX) , down -9.73%, and Matthews China Fund (MCHFX), down -9.23%.
  • ETFs: WisdomTree China ex-State-Owned Enterprises Fund (CXSE) , down -9.99%, and EMQQ The Emerging Markets Internet & Ecommerce ETF (EMQQ), down -9.68%.

 

Alternatives

Alternatives has been the only sector that posted a relatively strong performance. Managed futures and volatility instruments have been the best performers, while precious metals (inc. gold and silver) and natural resource-focused funds have been pummelled.

 

Top Performers

 

  • Mutual Funds: AQR Managed Futures Strategy Fund (AQMIX) , up 3.15%, and Victory Market Neutral Income Fund (CBHAX), up 1.19%.
  • ETFs: ProShares Ultra VIX Short-Term Futures ETF (UVXY) , up 7.92%, and Invesco S&P SmallCap Low Volatility ETF (XSLV), up 2.51%.

 

Worst Performers

 

  • Mutual Funds: Fidelity® Select Gold Portfolio (FSAGX) , down -7.44%, and Columbia Contrarian Core Fund (SMGIX), down -4.17%.
  • ETFs: ProShares Ultra Silver (AGQ) , down -11.5%, and FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR), down -5.3%.

 

ESG

Almost all ESG funds have posted losses.

 

Worst Performers

 

  • Mutual Funds: Vanguard FTSE Social Index Fund (VFTNX) , down -4.01%, and Putnam Sustainable Leaders Fund (PNOPX), down -3.93%.
  • ETFs: Xtrackers S&P 500 ESG ETF (SNPE) , down -4.1%, and Xtrackers MSCI USA ESG Leaders Equity ETF (USSG), down -3.85%.

Key Economic Indicators

Among major economic data released during the last two weeks, U.S. consumer sentiment has continued to improve, reaching a one-year high.

The U.S. Consumer Price Index, a gauge of inflation, has declined from 6.5% to 6.4%, but the fall was lower than analysts had expected. At the same time, retail sales surged 3%, the highest reading since February of last year, and well above expectations. Unemployment claims fell below 200,000 in each of the past two weeks, further indicating a strong job market. Finally, U.S. GDP grew by 2.7% in the fourth quarter, slightly lower than economists’ expectations. Along with a strong jobs market and high inflation, strong consumer sentiment continues to raise the prospect of higher interest rates for longer.

Meanwhile, U.K.’s inflation managed to surprise analysts. It fell from 10.5% to 10.1%, a higher decline than expectations. Both manufacturing and services sentiments have improved in the U.K., but only services climbed into territory indicating expansion. A similar picture emerged in the U.S., with services PMI in positive territory and manufacturing in recession.

Fund performance data is calculated for the period between February 13 and February 27.


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

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