Mutual Funds Weekly Roundup: July 13

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Mutual Funds Weekly Roundup: July 13

Brian Mathews Jul 13, 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 saw a slight rebound from last week’s decline.
  • The best-performing fund so far for 2017 is the Wasatch Emerging India Institutional (WIINX).
  • Small Cap Value 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 positive this week, with the Dow Jones Industrial Average up 0.60% to close at 21,414. The DJIA was one of the best performers out of the major indices and is up 8.36% year-to-date. The S&P 500 had an increase of 0.23% for the week, closing at 2,425. The NASDAQ Composite Index was up 0.14% to close at 6,153. However, the NASDAQ is still the best-performing major index, up 14.30% year-to-date.

The financial sector was this week’s top-performing area for the second week in a row, up 1.48%, and up 8.53% on a year-to-date basis. With all 34 of the major banks passing the Fed’s annual stress tests, the financial sector has seen big gains in the last two weeks.

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

International Equities – International markets were all negative for the week. The MSCI Developed Index had a decrease of 0.47%. The MSCI Emerging Index had a decline of 0.58% for the week. Japan’s NIKKEI 225 fell the most, declining 1.44% for the week and closing at 19,929.

Commodities – The commodity sector was also all negative. Crude oil had a slight decline of $0.70 per barrel and closed at $44.23 per barrel. The price of gold decreased $36 per troy ounce to close at $1,209. Copper was also down for the week, decreasing $0.05 to close at $2.65.

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 2 bps. The 10-year Treasury yield had an increase of 9 bps, while the 30-year Treasury yield increased 10 bps to 2.93%.

Municipal Bonds – Municipal yields also increased this week. The 2-year AAA-rated bonds increased 7 bps and the 10-year AAA-rated bonds increased 6 bps, while the 30-year AAA-rated bonds increased 6 bps and is yielding 2.87%. Municipal bond funds returned to a negative inflow of $461 million after last week’s positive inflow. The largest credit spread among Treasury and muni bonds increased by 1 bps to 55 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 July 7, 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 July 7, 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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