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The industrial sector was this week’s top-performing area with a 2.05% return. The sector is up 5.07% on a year-to-date basis. This is led by companies like Boeing Co. (BA) and 3M Co. (MMM), which are both up over 14% and 9%, respectively, on a YTD 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 0.11%, while the MSCI Emerging Index dropped slightly by 0.08% for the week. Japan’s NIKKEI 225 finally had a positive week after five weeks of declines, increasing 1.05% and closing at 18,621.
Commodities – The commodity sector showed declines, with crude oil falling $3.56 per barrel and closing at $49.62 per barrel. The price of gold had a slight increase of $2 per troy ounce to close at $1,287, while copper had a decline of $0.03 per pound to close at $2.54.
Be sure to read our important tips on how to invest in the right commodity-based mutual fund.
Taxable Bonds – Treasury yields showed an increase across all maturities. The two-year Treasury yield increased by 4 bps to 1.25%. The 10-year Treasury saw an increase of 7 bps to 2.31%, while the 30-year Treasury increased by 6 bps, yielding 2.95%.
Municipal Bonds – On the other hand, municipal yields did not show gains this week. The two-year AAA-rated bonds stayed flat and remained at 0.98%. The 10-year AAA-rated municipal decreased by 5 bps, while the 30-year decreased by 2 bps.
For the second week in a row, muni bond funds showed an inflow of $194 million.
Credit spreads increased this week, with the largest spread between the five-year Treasury and the AAA-rated municipal increasing 5 bps to 43 bps. The spread between the 30-year AAA-rated municipal and the 30-year Treasury reversed, and currently, Treasuries yield 5 bps more than their municipal counterparts.
You can also read about essential tax tips for mutual funds, so 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||Small Cap Growth||2.42%||Morgan Stanley Inst Small Co Gr I||MSSGX||7.24%||The fund's largest holding is Athenahealth, Inc. (ATHN), which is up over 13% on a YTD basis.|
|International Equity||India Equities||4.07%||Wasatch Emerging India Institutional||WIINX||7.76%||The fund invests in India-based companies. The BSE SENSEX Index is up over 11% YTD.|
|Commodities||Broad Basket||-0.88%||Rydex Commodities Strategy A||RYMEX||0.21%||Fund has been hedging against falling commodity prices by having over 78% in cash.|
|Taxable Bonds||Government Bonds||2.92%||PIMCO Extended Duration Instl||PEDIX||4.06%||Fund has the flexibility to go long or short with Treasuries, corporates or cash.|
|Municipal Bonds||Muni New York Long||1.75%||Oppenheimer Rochester® AMT-Free NY Muni Y||ONYYX||4.12%||Muni yields dropped this week, causing bond prices to increase.|
This fund is heavily invested in gold, which is up over 5% year-to-date.
Top 5 Performers
The following table provides the top-performing mutual funds on a YTD basis as of April 21, 2017. Only those funds that are rated five stars by Morningstar and that generated YTD returns greater than equal to 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||29.24%||2.00%||32.90%||$123||Financial Services|
|T. Rowe Price Global Technology||PRGTX||Global Equities||19.52%||0.90%||61.20%||$3,800||Technology|
|Morgan Stanley Inst International Opp I||MIOIX||Foreign Large Cap Growth Equities||19.42%||1.34%||49.30%||$85||Technology|
|Morgan Stanley Inst Global Opp I||MGGIX||Global Equities||18.30%||1.07%||53.50%||$734||Technology|
|City National Rochdale Emerg Mkts Y||CNRYX||Diversified Emerging Markets||17.63%||1.37%||27.60%||$1,200||Technology|
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