Mutual Funds Weekly Roundup: August 21 Edition

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Mutual Funds Weekly Roundup: August 21 Edition

Sam Bourgi Aug 21, 2018 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. equities finished mostly higher this week, while international equities were mostly lower.
  • The best-performing fund on a year-to-date basis is the Alger Small Cap Focus Z (AGOZX), with a year-to-date return of 33.35%.
  • U.S large-cap growth equities is the best-performing mutual funds subcategory based on rolling-month returns.
  • Make sure to check out our previous edition to keep track of changing trends in the mutual funds industry.

Market Wrap-Up

U.S. Equities – The U.S. equity markets were mostly higher this week with the exception of the NASDAQ. For the week, the Dow Jones Industrial Average gained 1.48% to close at 25,669, boosting its year-to-date returns to 5.36%. The broader S&P 500 Index also advanced 0.7% during the week to reach 2,850. For year-to-date, the S&P 500 Index has gained 7.92%. Meanwhile, the technology-heavy Nasdaq Composite Index fell 0.23% during the week to close at 7,816. Despite the loss, the NASDAQ is the best-performing major stock index on a year-to-date basis, having gained 14.01%.

The week’s best-performing sector was telecommunication services, gaining more than 3.7%. This sector consists of companies like Verizon Communications (VZ), which has gained 4.65% over the past five days.

International Equities – The international markets were down this week, with the MSCI Developed Market Index declining 1.10% to close at 1,928. The MSCI Emerging Market Index has declined 3.68% to close at 1,023. Finally, Japan’s Nikkei 225 jumped 1.56% to 22,199.

Commodities – The commodities markets were down across the board this week, with Brent crude oil falling 1.3% to close at $71.83 a barrel. The price of gold fell 2.2% to $1,184 a troy ounce. Meanwhile, copper prices fell 1.5% to $2.69.

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

Taxable Bonds – The main Treasury yields were virtually unchanged for the week. The 2-year, 10-year and 30-year U.S. Treasuries were flat week-on-week. The benchmark 10-year Treasury yield held at 2.87%.

Municipal Bonds – Municipal yields rose this week, with the 10-year AAA-rated bonds edging up 0.15 bps to 2.59%.

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

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 August 20, 2018.

Performance Snapshot: Top Fund

Top-performing fund: Alger Small Cap Focus Z (AGOZX)

This fund allocates 97.99% of its holdings to stocks, which are largely concentrated in the technology industry. The fund is also well diversified, with the biggest holding (Veeva Systems Inc. Class A) accounting for 3.43% of total assets.

Top 5 Performers

The following table provides the top-performing mutual funds on a YTD basis as of August 20, 2018. 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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