- U.S. equities were all up again for the sixth week in a row, with the Dow Jones Industrial Average, S&P 500 and NASDAQ Composite again hitting all-time highs.
- The best-performing fund so far for 2017 continues to be the Neuberger Berman Greater China Eq Instl (NCEIX).
- India stock is the best-performing mutual funds subcategory based on the rolling month.
- Make sure to check out the previous edition of the Weekly Roundup to keep track of changing trends in the mutual funds space.
The information technology sector was this week’s top-performing sector for the second week in a row, up 1.86%. The technology sector consists of companies like Apple Inc. (NASDAQ:AAPL), which was up almost 7.5% for the week.
Explore our Mutual Funds Education section to learn more about important mutual funds concepts.
International Equities – International markets were also up for the week, with the MSCI Developed Index up 0.92%, to close at 2,009, and up 22.69% on a year-to-date basis. The MSCI Emerging Index had an increase of 1.46% for the week and remains the best-performing index on a year-to-date basis, up 33.49%. Japan’s Nikkei 225 had its eighth week of gains in a row, up 2.41%, to close at 22,539.
Commodities – The commodity sector was mostly up this week except for gold. Crude oil saw a gain $1.74 per barrel and closed at $55.64 per barrel. The price of gold decreased $2 per troy ounce, to close at $1,267. Copper also saw a slight increase of $0.01, to close at $3.12.
Be sure to read important tips on how to invest in the right commodity-based mutual fund.
Taxable Bonds – Treasury yields saw large declines this week, with the exception of the 2-year Treasury that increased 2 bps to yield 1.61%. The 10-year Treasury yield decreased 8 bps, while the 30-year Treasury yield decreased 11 bps to 2.81%.
Municipal Bonds – Municipal yields all fell across the board except for the 2-year AAA-rated bonds, which increased 3 bps to yield 1.12%. The 10-year AAA-rated bonds decreased 2 bps, while the 30-year AAA-rated bonds decreased 6 bps and now yield 2.84%. Municipal bond funds reversed its inflow trend and saw a decrease of $506 million in assets. The largest credit spread for the five-year securities decreased by 6 bps to settle at 52 bps for the week.
Performance Snapshot: Top Fund Category
|Category||Top Subcategory||1-Month Subcategory Return (%) *||Top Subcategory Performer||Ticker||1-Month Fund Return (%)||Performance Rationale|
|U.S. Equity Fund||Large Growth||3.06%||Quantified STF Investor||QSTFX||9.79%||The fund was invested in 2x the NASDAQ Index, which was up again for the week.|
|International Equity||India Stock||7.94%||Franklin India Growth Adv||FIGZX||6.37%||The fund invests in Indian companies, as the S&P BSE SENSEX (INDEXBOM:SENSEX) Index is up 6.63% on a month-to-date basis.|
|Commodities||Broad Basket||4.20%||DoubleLine Strategic Commodity N||DLCMX||7.81%||With oil up this week, this fund was invested in 21% oil.|
|Taxable Bonds||Government Bonds||1.08%||PIMCO Extended Duration Instl||PEDIX||1.91%||With longer-term bond yields falling this week, longer-term maturities saw the biggest gains.|
|Municipal Bonds||Muni California Long||0.42%||Nuveen CA High Yield Municipal Bond I||NCHRX||0.87%||High-yield muni bonds witnessed the biggest gains as muni yields fell, primarily for the longer-dated securities|
Performance Snapshot: Top Fund
The fund’s largest holding is in Tencent Holdings Ltd (HKG:0700), which is up over 104% on a year-to-date basis.
The following table provides the top-performing mutual funds on a YTD basis as of November 3, 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.
|Name||Ticker||Category||YTD %||Net Expense Ratio||% of Assets in Top 10 Holdings||Total Assets $ (Millions)||Top Sector Invested|
|Neuberger Berman Greater China Eq Instl||NCEIX||China Equities||58.64%||1.69%||51.80%||$134||Financial Services|
|Leland Thomson Reuters Vntr Cptl Idx I||LDVIX||Large Blend||54.41%||1.58%||26.10%||$14||Technology|
|Matthews Asia Innovators Investor||MATFX||Pacific/Asia ex-Japan Stock||48.12%||1.24%||34.80%||$165||Technology|
|T. Rowe Price Global Technology Fund I Class||PGTIX||Technology Equities||47.69%||0.77%||55.40%||$5,700||Technology|
|Baillie Gifford EAFE 5||BGEVX||Technology Equities||46.96%||0.46%||43.20%||$2,880||Consumer Cyclical|
Sign up for Advisor Access
Receive email updates about best performers, news, CE accredited webcasts and more.