Mutual Funds Weekly Roundup: June 1

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Mutual Funds Weekly Roundup: June 1

Brian Mathews Jun 01, 2017

  • U.S. markets rebounded from the week prior, with the Dow Jones Industrial Average increasing 1.32% this week to 21,080.
  • The best-performing fund so far for 2017 is the T. Rowe Price Global Technology (PRGTX).
  • Large Cap Growth is the best-performing rolling-one-month mutual fund subcategory.
  • Make sure to check out the previous edition of the Weekly Roundup to keep track of changing trends.

Market Wrap-Up

The utilities sector was this week’s top-performing area, up 2.57%. The sector is up slightly over 10% on a year-to-date basis and is the third-best performing sector after information technology and the consumer discretionary sector. This is led by companies like NextEra Energy Inc. (NEE) that are up over 17% 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 also up this week. The MSCI Developed Index had an increase of 0.22%, while the MSCI Emerging Index had a larger increase of 2.18% for the week. After Japan’s NIKKEI 225 broke its four-week positive trend last week with a decline, it bounced back this week with an increase of 0.49% to close at 19,687.

Commodities – The commodity sector was a mixed bag this week, with crude oil decreasing $0.53 per barrel and closing at $49.80 per barrel. The price of gold increased for the second week in a row, up $15 per troy ounce to close at $1,268. Copper was down $0.02 for the week 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 saw no movement except for the 30-year. The 2-year and 10-year Treasury yields remained flat, while the 30-year saw a slight increase of 1 bps.

Municipal Bonds – Municipals declined across all maturities. The 2-year AAA-rated bonds dropped 2 bps, the 10-year AAA-rated bonds dropped 7 bps, and the 30-year AAA-rated bonds dropped 6 bps. Municipal bond funds also continued into the seventh week of net positive fund flows with over $344 million of inflows. The largest credit spread among Treasury and muni bonds widened to 51 bps for the 5-year securities.

Performance Snapshot: Top Fund Category

Performance Snapshot: Top Fund

With over 68% in technology, the fund is this year’s best-performing fund. Its largest holding is in (CRM), which is up more than 32% YTD.

Top 5 Performers

The following table provides the top-performing mutual funds on a YTD basis as of May 26, 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.

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