Mutual Funds Scorecard: April 1 Edition

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Mutual Funds Scorecard: April 1 Edition

Stock market graph
Every fortnight, MutualFunds.com provides a snapshot of the performance of some key mutual funds, which tries to accurately capture investor interest in specific areas of the financial markets. The report is aimed at providing a quick overview of the sectors, regions, and asset classes that moved in a meaningful manner during the last two weeks.
  • The COVID-19 pandemic has wreaked havoc on global financial markets, as all developed economies have been falling like dominoes in the face of the biggest healthcare crisis in over a century. All of Europe is now in quarantine, with Spain cases rising close to the levels of Italy, and other countries catching up.
  • The U.S. has noted a rapid increase in registered cases, around 160,000 as of March 30, with New York seeing more than a third of that rise. The jump from almost nil has happened in just over 10 days.
  • The COVID-19 pandemic has brought all global economies to a halt, with many developed world countries ordering their citizens to stay home. To cope with the potentially devastating economic effects, countries around the world have mobilized massive financial help packages for the most affected workers and businesses. The United States unveiled a $2.2 trillion stimulus package, while the UK launched a 330 billion pound fiscal plan.
  • Chinese industrial production declined by 13.5% in February year-over-year, way steeper than the 3% decline expected by analysts.
  • Germany’s ZEW economic sentiment crashed to negative 49.5, a low last seen in 2012. Analysts had forecasted the sentiment gauge to fall to negative 29.7.
  • U.S. retail sales fell 0.5% in February before the national lockdown was implemented due to COVID-19. Next month will give investors a better indication of how retail sales performed.
  • The Bank of England has reduced interest rates to 0.10%, the lowest level since it was founded in 1694, in light of the COVID-19 pandemic.
  • Europe-wide services purchasing managers’ index dropped deep into contraction territory to 28.4 (a showing above 50 indicates expansion), a record low.
  • A similar picture emerged in the UK, where manufacturing PMI came in at a relatively strong 48, while services PMI dropped to 35.7. Of note, the UK is a few weeks behind in the growth of coronavirus cases.

We provide this report on a fortnightly basis. To stay up to date with mutual fund market events, come back to our News page here.

U.S. broad indices

  • All U.S. equity indices were down by at least 6%.
  • Wilshire’s large-cap equity index fund (WFIVX) was the best performer from the pack, with a decline of 5.86% over the past two weeks.
  • At the same time, Vanguard’s small-cap index fund (VSCIX) lost 7.05% and is the worst performer from the pack.
US broad - Apr 1 - v2

Fixed income

  • Fixed income assets all posted positive returns over the past two weeks with one exception.
  • Vanguard’s total bond market fund (VBTIX), posted the strongest gains this week, up 0.80%.
  • Meanwhile, Vanguard’s high yield corporate bond fund (VWEHX) lost 5.31% over the past week, the worst performance from the pack for the second consecutive scorecard.
US fixed inc - Apr 1 - v2

Major sectors

  • As expected, all sectors were down.
  • The Vanguard’s real estate sector fund (VGSLX) shed 12.01% over the past two weeks, as worries in the commercial real estate sector mounted given that foot traffic in many stores has declined dramatically due to the COVID-19 pandemic.
  • Franklin’s utilities sector proxy (FKUQX) lost just 2.55% for the past two weeks, the smallest loss from the pack, as the sector is seen as a relatively safe haven.
US sectors - Apr 1

Foreign equities

  • Performance in foreign equities was rather disparate.
  • T. Rowe Price’s Japanese fund (PRJPX) gained an impressive 9% over the past two weeks, as the country was one of the few that managed to minimize the impact of the COVID-19 outbreak.
  • Meanwhile, Matthews’ Indian equities fund (MINDX) tumbled 17.3% as investors dumped the country’s shares on fears the government will not be able to contain the spread of the pandemic.
US foreign eq - Apr 1

Alternatives

  • All alternative asset classes have posted declines.
  • PIMCO’s commodity fund (PCRIX) lost 4.42% for the past two weeks, marking the best performance from the pack after the last time the fund was the worst performer.
  • The worst performer this time is Vanguard’s real estate sector proxy (VGSLX), which dropped more than 12% over the past two weeks.
US Alts - Apr 1

The Bottom Line

Investment-grade bonds and Japanese shares were among the only risers over the past two weeks. India equities, high yield bonds, and the real estate sector have posted the worst declines. Some parts of the real estate market, notably commercial properties, are expected to suffer massive losses as their tenants fail to pay rent due to dwindling traffic.

Be sure to sign up for your free newsletter here to receive the most relevant updates.

Fund returns data is reported for the period between March 13 and March 27.


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Why 30 trillion is invested in mutual funds book

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Find out why $30 trillon is invested in mutual funds.

Why 30 trillion is invested in mutual funds book

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Stock market graph

Mutual Funds Scorecard: April 1 Edition

Every fortnight, MutualFunds.com provides a snapshot of the performance of some key mutual funds, which tries to accurately capture investor interest in specific areas of the financial markets. The report is aimed at providing a quick overview of the sectors, regions, and asset classes that moved in a meaningful manner during the last two weeks.
  • The COVID-19 pandemic has wreaked havoc on global financial markets, as all developed economies have been falling like dominoes in the face of the biggest healthcare crisis in over a century. All of Europe is now in quarantine, with Spain cases rising close to the levels of Italy, and other countries catching up.
  • The U.S. has noted a rapid increase in registered cases, around 160,000 as of March 30, with New York seeing more than a third of that rise. The jump from almost nil has happened in just over 10 days.
  • The COVID-19 pandemic has brought all global economies to a halt, with many developed world countries ordering their citizens to stay home. To cope with the potentially devastating economic effects, countries around the world have mobilized massive financial help packages for the most affected workers and businesses. The United States unveiled a $2.2 trillion stimulus package, while the UK launched a 330 billion pound fiscal plan.
  • Chinese industrial production declined by 13.5% in February year-over-year, way steeper than the 3% decline expected by analysts.
  • Germany’s ZEW economic sentiment crashed to negative 49.5, a low last seen in 2012. Analysts had forecasted the sentiment gauge to fall to negative 29.7.
  • U.S. retail sales fell 0.5% in February before the national lockdown was implemented due to COVID-19. Next month will give investors a better indication of how retail sales performed.
  • The Bank of England has reduced interest rates to 0.10%, the lowest level since it was founded in 1694, in light of the COVID-19 pandemic.
  • Europe-wide services purchasing managers’ index dropped deep into contraction territory to 28.4 (a showing above 50 indicates expansion), a record low.
  • A similar picture emerged in the UK, where manufacturing PMI came in at a relatively strong 48, while services PMI dropped to 35.7. Of note, the UK is a few weeks behind in the growth of coronavirus cases.

We provide this report on a fortnightly basis. To stay up to date with mutual fund market events, come back to our News page here.

U.S. broad indices

  • All U.S. equity indices were down by at least 6%.
  • Wilshire’s large-cap equity index fund (WFIVX) was the best performer from the pack, with a decline of 5.86% over the past two weeks.
  • At the same time, Vanguard’s small-cap index fund (VSCIX) lost 7.05% and is the worst performer from the pack.
US broad - Apr 1 - v2

Fixed income

  • Fixed income assets all posted positive returns over the past two weeks with one exception.
  • Vanguard’s total bond market fund (VBTIX), posted the strongest gains this week, up 0.80%.
  • Meanwhile, Vanguard’s high yield corporate bond fund (VWEHX) lost 5.31% over the past week, the worst performance from the pack for the second consecutive scorecard.
US fixed inc - Apr 1 - v2

Major sectors

  • As expected, all sectors were down.
  • The Vanguard’s real estate sector fund (VGSLX) shed 12.01% over the past two weeks, as worries in the commercial real estate sector mounted given that foot traffic in many stores has declined dramatically due to the COVID-19 pandemic.
  • Franklin’s utilities sector proxy (FKUQX) lost just 2.55% for the past two weeks, the smallest loss from the pack, as the sector is seen as a relatively safe haven.
US sectors - Apr 1

Foreign equities

  • Performance in foreign equities was rather disparate.
  • T. Rowe Price’s Japanese fund (PRJPX) gained an impressive 9% over the past two weeks, as the country was one of the few that managed to minimize the impact of the COVID-19 outbreak.
  • Meanwhile, Matthews’ Indian equities fund (MINDX) tumbled 17.3% as investors dumped the country’s shares on fears the government will not be able to contain the spread of the pandemic.
US foreign eq - Apr 1

Alternatives

  • All alternative asset classes have posted declines.
  • PIMCO’s commodity fund (PCRIX) lost 4.42% for the past two weeks, marking the best performance from the pack after the last time the fund was the worst performer.
  • The worst performer this time is Vanguard’s real estate sector proxy (VGSLX), which dropped more than 12% over the past two weeks.
US Alts - Apr 1

The Bottom Line

Investment-grade bonds and Japanese shares were among the only risers over the past two weeks. India equities, high yield bonds, and the real estate sector have posted the worst declines. Some parts of the real estate market, notably commercial properties, are expected to suffer massive losses as their tenants fail to pay rent due to dwindling traffic.

Be sure to sign up for your free newsletter here to receive the most relevant updates.

Fund returns data is reported for the period between March 13 and March 27.


Sign up for Advisor Access

Receive email updates about best performers, news, CE accredited webcasts and more.

Popular Articles

Download our free report

Find out why $30 trillon is invested in mutual funds.

Why 30 trillion is invested in mutual funds book

Why 30 trillion is invested in mutual funds book

Download our free report

Find out why $30 trillon is invested in mutual funds.

Why 30 trillion is invested in mutual funds book

Download our free report

Find out why $30 trillon is invested in mutual funds.


Read Next