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- U.S. equities were up this week, rebounding from last week’s decline.
- The best-performing fund so far for 2017 continues to be the Neuberger Berman Greater China Eq Instl (NCEIX).
- Asia Pacific Equities is the best-performing mutual funds subcategory based on the rolling month.
- Make sure to check out the previous edition of the Weekly Roundup to keep track of changing trends in the mutual funds space.
U.S. Equities – U.S. equity markets all rebounded this week, with the Dow Jones Industrial Average increasing 0.42% to close at 23,558. The S&P 500 also had an increase of 0.65% for the week, to close at 2,602. The week’s best-performing major index was the NASDAQ Composite, which was up 1.41% to close at 6,889. The NASDAQ continues to be the best-performing major U.S. index on a year-to-date basis, up 27.98%.
The telecom sector was this week’s top-performing sector, up 2.58%. This sector consists of companies like Verizon Communications Inc.(NYSE:VZ), which was up over 4.95% for the week.
International Equities – International markets also gained, with the MSCI Developed Market Index gaining 1.88% to close at 2,023 and is up 23.77% on a year-to-date basis. The MSCI Emerging Index had an increase of 1.57% for the week and remains the best-performing index on a year-to-date basis, up 36.86%. Japan’s Nikkei 225 rebounded after last week’s decline and was up 0.89% for the week to close at 22,551.
Commodities – The commodity sector was all up this week, with crude oil gaining $3.81 per barrel and closing at $58.95 per barrel. The price of gold increased $9 per troy ounce to close at $1,287. Copper also saw a gain this week and was up $0.12 to close at $3.17.
Be sure to read important tips on how to invest in the right commodity-based mutual fund.
Taxable Bonds – Treasury yields were mixed this week, with the 2-year Treasury increasing 3 bps to yield 1.75%. The 10-year Treasury yield remained unchanged at 2.34%, while the 30-year Treasury yield also decreased 2 bps to 2.76%.
Municipal Bonds – Municipal yields all gained for the second week in a row, with the 2-year AAA-rated bonds increasing 9 bps to yield 1.32%. The 10-year AAA-rated bonds increased 8 bps, while the 30-year AAA-rated bonds increased 7 bps to yield 2.84%. Municipal bond funds saw a third week of inflows, with an increase of $576 million in assets under management. The largest credit spread for the five-year securities decreased by 7 bps to settle at 42 bps for the week.
Explore our Mutual Funds Education section to learn more about important mutual funds concepts.
Performance Snapshot: Top Fund Category
The following table provides a list of the top-performing mutual fund subcategories for the previous week within the broader categories of the industry. In each of these subcategories, we have listed the top mutual funds based on the one-month return generated as of November 24, 2017.
|Category||Top Subcategory||1-Month Subcategory Return (%)||Top Subcategory Performer||Ticker||1-Month Fund Return (%)||Performance Rationale|
U.S. Equity Fund
|Large Growth||3.23%||Quantified STF Investor||QSTFX||10.86%||The fund is invested in 2x the NASDAQ index, which is up over 2.4% for the month.|
|Asia Pacific Equities||4.16%||Goldman Sachs Asia Equity Inv||GSAEX||7.40%||The fund invests in Asian companies, with its largest position in Tencent Holdings Ltd. (HKG:0700), which is up over 17% for the trailing one month.|
|Broad Basket||2.23%||PIMCO CommoditiesPLUS® Strategy A||PCLAX||5.23%||With oil gaining this week, this fund was 27% invested in oil.|
|Government Bonds||2.67%||Vanguard Extended Duration Trs Idx InsPl||VEDIX||4.58%||This fund invests in longer-term treasury bonds, which gained this week.|
|High Yield Muni||0.16%||Dreyfus High Yield Municipal Bond I||DYBIX||0.66%||With muni bond yields gaining this week, high-yield bonds had the largest gains.|
Performance Snapshot: Top Fund
The fund’s largest holding is in Tencent Holdings Ltd. (HKG:0700), which is up over 115% on a year-to-date basis.
The following table provides the top-performing mutual funds on a YTD basis as of November 24, 2017. Only those funds that are rated five stars by Morningstar and that generated YTD returns greater than or equal to that achieved by the S&P 500 are included.
|Name||Ticker||Category||YTD %||Net Expense Ratio||% of Assets in Top 10 Holdings||Total Assets $ (Millions)||Top Sector Invested|
Neuberger Berman Greater China Eq Instl
|NCEIX||China Equities||67.38%||1.69%||51.80%||$138||Financial Services|
Leland Thomson Reuters Vntr Cptl Idx I
Oppenheimer Global Opportunities I
Matthews Asia Innovators Investor
|MATFX||Pacific/Asia ex-Japan Stock||51.98%||1.24%||34.80%||$180||Technology|
T. Rowe Price Global Technology Fund I Class
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