Mutual Funds Weekly Roundup: April 20

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Mutual Funds Weekly Report


Mutual Funds Weekly Roundup: April 20

Brian Mathews Apr 20, 2017 provides weekly information (April 8 to April 13) 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. markets were negative again for the week, with the Dow Jones Industrial Average closing at 20,453.
  • The best-performing fund so far for 2017 is Wasatch Emerging India Institutional (WIINX).
  • India Equities continues to be the best-performing year-to-date and rolling one-month mutual fund subcategory.

Market Wrap-Up

U.S. Equities – U.S. equity markets showed declines for the second week in a row. The Dow Jones Industrial Average decreased by 1.01% to 20,453 but is up 3.49% year-to-date. The S&P 500 decreased 1.21% for the week, falling to 2,329. The NASDAQ Composite Index was also down 1.26% for the week to 5,805. Investors continue to sell off their stock holdings as major indices are down from the high points reached earlier this year.

The real estate sector was this week’s top-performing area for the second week in a row, with a positive 0.90% return. This sector was one of three that were positive for the week, the others being consumer staples and utilities. The real estate sector is also up 4.13% on a year-to-date basis.

Explore our Mutual Fund Education section to learn more about important mutual fund concepts.

International Equities – International equities were mostly up for the week. The MSCI Developed Index had a slight increase of 0.06%, while the MSCI Emerging Index also saw an increase of 0.16% for the week. Japan’s NIKKEI 225 continues to fall for the fifth week in a row, down 0.92%, and closed at 18,427.

Commodities – The commodity sector mostly performed well, with crude oil increasing $1.48 per barrel and closing at $53.18 per barrel. The price of gold increased $36 per troy ounce to $1,286, while copper had a decline of $0.09 per pound to close at $2.57.

Be sure to read our important tips on how to invest in the right commodity-based mutual fund.

Taxable Bonds – Treasury yields showed a big decline across all maturities. The two-year Treasury yield decreased by 8 bps to 1.21%. The 10-year Treasury saw a modest decline of 14 bps to 2.24%, while the 30-year Treasury fell by 12 bps, yielding 2.89%.

Municipal Bonds – Municipal yields also declined across all maturities, with the two-year AAA-rated bonds decreasing by 3 bps to 0.98%. The 10-year AAA-rated municipal decreased by 8 bps, while the 30-year decreased by 6 bps. After last week’s outflows, muni bond funds see a very large influx of funds, showing inflow of around $1.51 billion.

Credit spreads narrowed this week, with the spread between 5-year Treasury and muni at 32 bps.The spread between the 30-year AAA-rated municipal and the 30-year Treasury reversed by 6 bps for this week, with muni now yielding 3 bps higher than its Treasury equivalent.

You can also read about essential tax tips for mutual funds, so that you are aware of key strategies to limit your tax burden.

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 April 13, 2017.

Performance Snapshot: Top Fund

Top-performing fund: Wasatch Emerging India Institutional (WIINX)

This fund’s largest holding is in MakeMyTrip Limited (MMYT), which is up more than 71% YTD.

Top 5 Performers

The following table provides the top-performing mutual funds on a YTD basis as of April 13, 2017. Only those funds that are rated five stars by Morningstar and that generated YTD returns greater than that achieved by the S&P 500 are included.

We provide this report on a weekly basis. To stay up to date with mutual fund market events, return to our News section.

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