MutualFunds.com provides weekly information about any material impact on the mutual funds industry due to major economic and corporate events around the world. In addition, performance statistics on the top funds and fund categories are also provided.
- U.S. equities and international equities were all up this week.
- The best-performing fund for 2018 on a year-to-date basis is Alger Small Cap Focus Z (AGOZX).
- Small Cap Growth Equities is the best-performing mutual funds subcategory based on rolling-month returns.
- Make sure to check out the previous edition of the Weekly Roundup to keep track of changing trends in the mutual funds industry.
U.S. Equities – U.S. equity markets were mostly up this week, with the exception of the Dow Jones Industrial Average, which fell by 0.89% to close at 25,090. The Dow is still up 1.50% on a year-to-date basis. The S&P 500 gained 0.02% for the week to close at 2,780, which is up 3.97% year-to-date. The NASDAQ Composite increased 1.32% to close at 7,746. NASDAQ is still the best-performing index among major indices on a year-to-date basis and is up 12.21%.
The best-performing sector was utilities, up 2.63% for the week, but it still remains negative on a year-to-date basis, down 4.34%. This sector consists of companies like NextEra Energy In (NYSE:NEE), which was up 3.13% for the week.
International Equities – The international markets were mostly down this week, except for the Nikkei. The MSCI Developed Market Index fell 0.48% to close at 2,000. The MSCI Emerging Market Index fell 1.85% to close at 1,114. Finally, Japan’s Nikkei 225 saw a gain of 0.69% to close at 22,852.
Commodities – The commodities markets were all down this week, with crude oil falling $0.68 per barrel to close at $65.06. The price of gold decreased by $24 per troy ounce to close at $1,275. Copper prices saw a decrease of $0.16 and now trades at $3.14.
Be sure to read important tips on how to invest in the right commodity-based mutual fund.
Taxable Bonds – Treasury yields were mostly down this week, with the exception of the 2-year Treasury, which increased by 4 bps to now yield 2.54%. The 10-year Treasury yield decreased 4 bps and now yields 2.91%. The 30-year Treasury decreased 5 bps to yield 3.04%.
Municipal Bonds – Municipal yields were mostly up this week, with the exception of the 2-year AAA-rated bonds, which fell by 2 bps to yield 1.65%. The 10-year AAA-rated bonds saw an increase of 3 bps, while the 30-year AAA-rated bonds also increased by 1 bps, to now yield 3.04%. Municipal bond fund flows remained positive this week, as inflows stood at $277 million. The largest credit spread for the five-year securities increased to 79 bps for the week.
Explore our Mutual Fund Education section to learn more about important mutual fund 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 June 15, 2018.
|Category||Top Subcategory||1-Month Subcategory Return (%)||Top Subcategory Performer||Ticker||1-Month Fund Return (%)||Performance Rationale|
|U.S. Equity Fund||Small Cap Growth Equities||6.43%||Alger Small Cap Focus Z||AGOZX||12.14%||The fund's largest holding is Veeva Systems Inc Class A (NYSE: VEEV), which is up over 50% on a year-to-date basis.|
|International Equity||World Small/Mid Stock||1.36%||Wasatch Global Opportunities Instl||WIGOX||5.17%||Small- and mid-cap international stocks saw this week's largest increase.|
|Commodities||Broad Basket||-2.85%||SilverPepper Cmdty Strats Glb Macro Adv||SPCAX||-0.22%||With commodities and bond prices falling this week, this fund was protected since it had over 71% in cash.|
|Taxable Bonds||Long Government||2.84%||PIMCO Extended Duration Instl||PEDIX||3.88%||With longer maturity government bond yields all falling this week, government bonds saw large gains.|
|Municipal Bonds||High Yield Muni||0.77%||Oppenheimer Rochester Shrt Dur HY Muni Y||OPIYX||1.72%||High-yield bond funds saw the largest increase in price.|
Performance Snapshot: Top Fund
Alger Small Cap Focus Z (AOFYX)
One of the fund’s largest holdings is Veeva Systems Inc Class A (NYSE: VEEV), which is up over 50% on a year-to-date basis.
The following table provides the top-performing mutual funds on a YTD basis as of June 15, 2018. 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|
|Alger Small Cap Focus Z||AGOZX||Small Cap Growth Equities||31.23%||0.90%||31.90%||$1,140||Technology|
|Leland Thomson Reuters Vntr Cptl Idx I||LDVIX||Large Cap Growth Equities||30.49%||1.74%||29.20%||$60||Technology|
|Morgan Stanley Multi Cap Growth I||CPODX||Large Cap Growth Equities||26.80%||0.95%||54.00%||$637||Technology|
|ClearBridge Select IS||LCSSX||Mid Cap Growth Equities||26.25%||2.02%||23.60%||$98||Technology|
|Virtus KAR Small-Cap Growth I||PXSGX||Small Cap Growth Equities||25.59%||1.25%||49.10%||$3,670||Technology|
We provide this report on a weekly basis. To stay up to date with mutual fund market events, return to our News section.