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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.
|Category||Top Subcategory||1-Month Subcategory Return (%)||Top Subcategory Performer||Ticker||1-Month Fund Return (%)||Performance Rationale|
|U.S. Equity Fund||Large Cap Growth||-1.28%||Morgan Stanley Inst Growth IS||MGRPX||1.42%||The fund's largest holdings are Amazon, Inc. (AMZN) and Facebook, Inc. (FB), which are up over 17% and 21%, respectively, on a YTD basis.|
|International Equity||India Equities||8.18%||Wasatch Emerging India Investor||WAINX||14.54%||The fund invests in India-based companies. The BSE SENSEX Index is up over 10% YTD.|
|Commodities||Broad Basket||2.68%||Goldman Sachs Commodity Strategy R6||GCCUX||4.74%||Fund is invested in oil and cash, which has benefited with a 7% increase in oil over the last month and protection from the downside.|
|Taxable Bonds||Government Bonds||6.05%||PIMCO Extended Duration Instl||PEDIX||8.76%||Fund can go long or short with Treasuries, corporates or cash.|
|Municipal Bonds||Muni California Long||2.06%||Oppenheimer Rochester® CA Municipal C||OCACX||3.29%||With muni yields continuing to fall this week, muni mutual funds increased in value.|
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.
|Top-Performing Fund||Ticker||Category||YTD Return (%)||Net Expense Ratio (%)||% of Assets in Top 10 Holdings||Net Assets $ (Millions)||Top Sector Invested|
|Wasatch Emerging India Institutional||WIINX||India Equities||28.90%||2.00%||32.90%||$104||Financial Services|
|Matthews India Instl||MIDNX||India Equities||18.28%||0.90%||44.60%||$1,770||Financial Services|
|T. Rowe Price Global Technology||PRGTX||Global Equities||17.32%||0.90%||61.20%||$3,800||Technology|
|Morgan Stanley Inst International Opp I||MIOIX||Foreign Large Cap Growth Equities||17.21%||1.34%||49.30%||$85||Technology|
|City National Rochdale Emerg Mkts Y||CNRYX||Diversified Emerging Markets||16.06%||1.37%||27.60%||$1,200||Technology|
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