Mutual Funds Weekly Roundup: July 6

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Mutual Funds Weekly Roundup: July 6

Brian Mathews Jul 06, 2017 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. equity markets were all in the negative territory this week, while oil is finally seeing rebounds.
  • The best-performing fund so far for 2017 is the Wasatch Emerging India Institutional (WIINX).
  • China Equities are 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

U.S. Equities – U.S. equity markets were all in the red this week, with the Dow Jones Industrial Average falling 0.21% to close at 21,350. The DJIA is up 8.03% year-to-date. The S&P 500 had an decrease of 0.61% for the week, closing at 2,423. Among the major indices, the NASDAQ Composite Index was this week’s worst performer, down 1.99% to close at 6,140. However, the NASDAQ is still the best-performing major index, up 14.07% year-to-date.

The financial sector was this week’s top-performing area, up 3.29%, and up 6.88% on a year-to-date basis. This was led by the big banks including the Bank of America (BAC) and Wells Fargo Co. (WFC), which are both up over 9% and 6% over the last week, respectively.

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

International Equities – International markets were also mostly negative for the week, with the exception of the MSCI Emerging Index. The MSCI Developed Index had a slight decrease of 0.25%. The MSCI Emerging Index had a slight increase of 0.14% for the week. Japan’s NIKKEI 225 also fell 0.49% for the week and closed at 20,033.

Commodities – The commodity sector was all positive besides gold. Crude oil finally showed gains this week and was up $3.03 per barrel and closed at $46.04 per barrel. The price of gold decreased $16 per troy ounce to close at $1,241. Copper was also up for the week, increasing $0.09 to close at $2.71.

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

Taxable Bonds – Treasury yields all increased this week with the 2-year Treasury increasing 4 bps. The 10-year Treasury yield had a big increase of 16 bps while the 30-year Treasury yield increased 11 bps to 2.83%.

Municipal Bonds – Municipal yields also had big increases. The 2-year AAA-rated bonds increased 9 bps; the 10-year AAA-rated bonds increased 12 bps, while the 30-year AAA-rated bonds increased 11 bps. Municipal bond funds return to a positive inflow of $413 million after last week’s large outflow. The largest credit spread among Treasury and muni bonds increased by 2 bps to 54 bps for the 5-year securities.

In this context, 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 June 30, 2017.

Performance Snapshot: Top Fund

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

The fund’s largest holding is in Housing Development Finance Corp Ltd (NSE:HDFC), which is up over 28% on a year-to-date basis.

Top 5 Performers

The following table provides the top-performing mutual funds on a YTD basis as of June 30, 2017. 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.

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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