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The Individual Investor's Guide to The Top Mutual Funds 2012

The Individual Investor's Guide To The Top Mutual Funds 2012 Splash image

Mutual fund assets totaled more than $11.6 trillion on November 30, 2011, according to the Investment Company Institute. This is a slight decrease from December 2010, when assets totaled $11.8 trillion.

The total amount of assets shows the important role mutual funds continue to play in portfolios. Mutual fund assets exceeded exchange-traded fund (ETF) assets last year by a margin of 10 to one. A key reason for the continued popularity of mutual funds is that they give individual investors low-cost access to professional money managers. Mutual funds provide instant exposure to a wide variety of assets and investment strategies, including growth, value and income.

Mutual funds also remain a top choice for investors who want to mimic the performance of an index, a strategy known as passive investing. Though most ETFs follow passive strategies, Vanguard’s Total Stock Index (VTSMX) continues to be the largest index fund, exceeding even the popular SPDR S&P 500 ETF (SPY) in size.

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Both mutual funds and ETFs can have a role in your portfolio. The choice depends on what investment vehicle best serves your needs. The key to deciding is to first determine the type of assets you want to own (large-cap stocks, small-cap stocks, corporate bonds, etc.). After this decision is made, you can then seek out the best way to get exposure to those assets. In many cases, a mutual fund is the best investment option.

This 31st edition of our Guide to the Top Mutual Funds will help you sort though the large number of mutual funds and find the right one for your portfolio needs. More than 730 no-load and low-load funds are covered on the following pages. On AAII.com, you will find expanded information on more than 1,520 funds. (Visit www.aaii.com/guides/mfguide to see the online data.) Each mutual fund is classified into a useful category of similar funds to make comparisons of alternatives more efficient and effective.

Whenever possible, we have used the same categories that appeared in our ETF Guide (published in the August 2011 AAII Journal) to allow you to also compare mutual funds against their ETF counterparts. (See the box below on how to choose between a mutual fund and an ETF.)

Choosing Between Mutual Funds and ETFs

The decision to own a mutual fund or an exchange-traded fund (ETF) is dependant on a variety factors. Both types of investments have advantages, but individual investors should not feel compelled to switch from one to another. Rather, investors should first consider the following factors and then consider the investment that is best for them.

What Are Your Portfolio Diversification Needs?

The first step when choosing among funds is to determine what your portfolio needs are. For example, do you need exposure to domestic small-cap stocks or municipal bonds? The answer to this question will be determined by what asset classes further diversify your portfolio and keep your investing risk within your tolerance limits.

Knowing what asset classes you want to target helps you in two ways. First, it narrows your search to a smaller, more targeted group of funds. Secondly, it makes comparisons between funds easier. A fund investing in emerging market debt will have different return characteristics and higher expenses than a fund that invests in U.S. blue-chip companies.

Active or Passive Management?

Once you know what your portfolio needs are, you can start to consider whether you want to use an active or passive strategy.

Active strategies rely on the ability of the fund manager to handpick the securities. Active managers attempt to beat their benchmark index (e.g., the S&P 500) or produce a portfolio that is either less volatile or less correlated with the benchmark. The inherent danger is that the fund manager fails to do so. Active management can result in higher expenses and greater turnover.

Passive strategies attempt to mimic the return characteristics of a benchmark index. Passively managed funds charge lower expense fees than their actively managed counterparts. An inherent danger is that a passively managed fund fails to accurately mimic the performance of the benchmark index and incurs tracking error. Plus, as exchange-traded funds have grown, so has the number of indexes designed for ETFs to track.

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“Enhanced indexes” fall into a grey territory between active and passive approaches. Though funds that track these indexes are technically following a passive approach, the indexes themselves are designed to track an anomaly or a group of characteristics that may result in better performance than a well-known index. Again, the dangers of underperformance and higher expenses exist.

Mutual funds remain the only viable choice for low-cost exposure to active strategies, with very few ETFs following active strategies (though this could change). For passive strategies, ETFs tend to charge lower annual expense fees than their mutual fund counterparts.

Portfolio Composition

When looking at active and passively managed portfolios, you should also consider the securities held. Similar sounding funds can have vastly different holdings. (ETFs update their holdings much more frequently than mutual funds do.)

Index funds tend to overweight the largest companies within the index. For example, as of the end of January 2012, Apple (AAPL) and Exxon Mobil (XOM) comprise approximately 7% of the SPDR S&P 500 ETF (SPY). Depending on how the index is structured, a few companies can have a very significant impact on the fund’s performance.

Actively managed funds may also overweight large companies. Alternatively, they emphasize certain sectors in an attempt to boost performance. Managers who target securities that are less liquid, such as micro-cap stocks or smaller foreign markets, may incur more volatility or have problems replicating past performance if their fund attracts too much investor dollars. (Mutual funds can close themselves off to new investors, while ETFs cannot.) This is why, when looking at a mutual fund or an ETF, you should always read the prospectus and understand exactly what the fund invests in. Only invest in funds whose portfolio strategies you understand and are comfortable owning.

Your Personal Situation

Finally, you should consider your personal situation. Most 401(k) plans only offer mutual funds to participants. (Some do offer ETFs, however.) Individual accounts, both taxable and tax-deferred (e.g., IRAs) can be invested in mutual funds or ETFs. If your portfolio is invested directly with a mutual fund family (e.g., T. Rowe Price, Dodge & Cox, etc.), you will have to transfer money to a brokerage account in order to buy ETFs. (Unlike most mutual fund families, Fidelity and Vanguard do operate their own brokerage units.)

When choosing between a mutual fund and an ETF, go with the fund that best suits your needs. If it is a close call between a mutual fund and an ETF, the lower-cost option may be the best choice. Pay attention to any fees you may incur by making the change, such as brokerage commissions and transfer fees, since these can impact your overall cost savings.

Finally, do not feel compelled to alter your portfolio just for the sake of change. If you are happy with your current fund holdings, do not transfer your money out of them.

How to Use This Guide

Selecting a mutual fund, while less time-consuming than investing in individual securities, does require some homework. No one should put money into an investment that is not understood. This does not require a detailed investigation of the fund’s investments, but it does require an understanding of the fund’s investment objective, strategy, risks and performance history.

Individuals new to mutual fund investing can find explanatory articles in the Funds/ETFs section of AAII.com (www.aaii.com/investing/funds-etfs).

Table 1 summarizes the average performance and risk of fund categories and common index benchmarks. Table 2 lists the 50 best-performing funds of 2011, and Table 3 lists the 50 worst-performing funds of 2011. Table 4 allows you to compare the performance of the 50 most widely held funds (funds with the highest total assets). While past performance is no indication of future performance, it may attest to the quality and consistency of fund management.

Funds are grouped by category and listed alphabetically within each category; the ticker symbol is indicated after each fund name. The listings provide information on a variety of return and risk data, portfolio composition, and fees and expenses. Index funds are indicated by the letter “I” before the fund name, and funds that are closed to new investors are indicated by the letter “C.”

If you would like to request a copy of a fund prospectus and annual report, telephone numbers and website addresses of the fund families are provided. Make sure you read the prospectus carefully before investing in any mutual fund.

Which Funds Were Included

The funds that appear in the Guide were selected from the universe of open-end funds tracked through NASDAQ. The following are the various screens we used to arrive at the final selection.

Historical Record

Generally, only those funds with three full years of data are included in the Guide so that there is a performance record of significant length and all performance measures can be calculated. Index funds with less than three full years may be included, as well as specialty funds of great interest to our members.

Size

Funds must appear in the NASDAQ mutual fund listings and are generally required to have at least $50 million in assets to qualify for inclusion in the Guide. A small number of funds with assets below $50 million are included in some of the newer categori

Loads

The decision as to what constitutes a significant load is difficult, but we took this approach in the Guide:

Funds with front-end loads, back-end loads, or redemption fees of 3% or less are included if the fund does not also have a 12b-1 charge. Funds with redemption fees that disappear after six months that also have 12b-1 charges appear in this Guide.

Funds with 12b-1 plans and no front- or back-end loads are included in the Guide; we note, however, whether the fund has a 12b-1 fee and what the charge is per year. A 12b-1 fee of greater than 0.25% is considered to be high, and we excluded these funds from the Guide. Investors should carefully assess these plans individually.

Mutual funds that imposed a load that exceeded 3% or increased an existing load above 3% are

Expenses

Funds with significantly higher expense ratios than the average for their category are not included in this Guide. We have bolded the expense ratio of funds whose ratios are in the lower 25% of their category.

Performance

Funds that significantly underperformed the average performance of their category are not included in this Guide.

Interest and Availability

Only those funds that are of general interest to mutual fund investors and available for investment by individual investors directly from the fund, without restrictions, ar

Funds Not Included

AAII members who would like performance figures for no-load and low-load mutual funds that do not appear in the print edition of this Guide can access this information on our website at www.aaii.com/guides/mfguide (more than 1,520 funds are covered).

 

A Key to Terms and Statistics

Most of the information shown in the listing is provided by Morningstar Inc., but some may come from mutual fund reports (the prospectus and annual and quarterly reports) and solicitation of information directly from the fund. Any data source has the potential for error, however, and before investing in any mutual fund, you should read the prospectus and the annual report.

When a dash appears in the performance tables or in a mutual fund listing, it indicates that the number was not available or does not apply in that particular instance. For example, the 10-year annual return figure would not be available for funds that have been operating for less than 10 years. We do not compile the bull and bear ratings for mutual funds not operating during the entire bull or bear market period. All numbers are truncated rather than rounded when necessary, unless noted otherwise in the following descriptions.

In the fund list, return and difference from category numbers that are in the top 25% of all funds within the investment category are shown in boldface. When risk and expense ratios are in the lowest 25% for the category, these numbers are also bolded. Fund data in the state-specific municipal bond category are not bolded because meaningful comparisons cannot be made across various state categories.

The following provides an explanation of the terms we have used in the performance tables and mutual fund listings. The explanations are listed in the order in which the data and information appear in the listing.

Index Fund: The letter I before a fund’s name indicates that the fund is designed to follow an index, such as the S&P 500; the amounts invested in each security are proportional to the issue’s representation in the index that the fund tracks. Because index funds are not actively managed, they make no research efforts to select particular stocks or bonds, nor do they make timing decisions. They are always 100% invested. This passive management approach means that the expenses and the cost of managing an index fund are extremely low. The online guide reports on the index tracked by these funds.

Closed: The letter C before the fund’s name indicates that the fund is not accepting purchases from new investors. Some closed funds may also suspend additional investments from existing shareholders.

Fund Name: The funds are presented alphabetically by fund name within each category.

Ticker: The ticker symbol for each fund is given in parentheses for those investors who may want to access price quotes or conduct further research. The ticker is four letters and is usually followed by an “X,” indicating that it is a mutual fund. For example, the large-cap Dodge & Cox Stock fund ticker symbol is DODGX.

Style—Growth and Value: Indicates fund investment style. G = growth investing focus, V = value investing focus. For more on what these classifications mean, click here.

Annual Total Return (%): Return percentages for each of the last five years. Returns that are in the top 25% of all funds within the investment category are shown in boldface.

Bull Market Return (%)—Fund and Category +/-: Reflects the fund’s performance in the most recent bull market, starting March 1, 2009, and continuing through April 30, 2011; and the difference in fund total return for the period from the average return for the period for all funds in the same category. Return and difference from category numbers that are in the top 25% of all funds within the investment category are shown in boldface.

Bear Market Return (%)—Fund and Category +/-: Reflects the fund’s performance in the most recent bear market, from November 1, 2007, through February 28, 2009; and the difference in fund total return for the period from the average return for the period for all funds in the same category. Return and difference from category numbers that are in the top 25% of all funds within the investment category are shown in boldface.

3-Year Return (%)—Fund and Category +/-: Assuming an investment on January 1, 2009, the annual total compound return if held through December 31, 2011; and the difference in fund annual return for the period from the average return for the period for all funds in the same category. When the difference from category is negative, the fund underperformed the average fund in its investment category for the period by the percent indicated. Return and difference from category numbers that are in the top 25% of all funds within the investment category are shown in boldface.

5-Year Return (%)—Fund and Category +/-: Assuming an investment on January 1, 2007, the annual total compound return if held through December 31, 2011; and the difference in fund annual return for the period from the average return for the period for all funds in the same category. Return and difference from category numbers that are in the top 25% of all funds within the investment category are shown in boldface.

10-Year Return (%)—Fund and Category +/-: Assuming an investment on January 1, 2002, the annual total compound return if held through December 31, 2011; and the difference in fund annual return for the period from the average return for the period for all funds in the same category. Return and difference from category numbers that are in the top 25% of all funds within the investment category are shown in boldface.

Yield (%): The per share annual income distribution made by the fund divided by the sum of the year-ending net asset value plus any capital gains distributions made during the year. This ratio is similar to a dividend yield and would be higher for income-oriented funds and lower for growth-oriented funds. The figure only reflects income; it is not a total return number. For some funds, the yield may be distorted if the fund reports short-term capital gains as income.

Tax-Cost Ratio (%): Measures how much a fund’s annualized return is reduced by the taxes paid on distributions, assuming the maximum marginal tax rate. A tax-cost ratio of 0.0% indicates that the fund did not pay any taxable income or make capital gains distributions. If a fund had a 3.0% tax-cost ratio, it means that on average each year, investors lost 3.0% of their assets to taxes. The lower the ratio, the more tax-efficient the fund. The ratio is calculated using the last five years of data.

Risk Index—Category and Total: The Category Risk Index is the standard deviation of a fund’s return divided by the standard deviation of return for the average fund in the category. The Total Risk Index is the standard deviation of a fund’s return divided by the average standard deviation of return for all funds. Standard deviation is a measure of return volatility and is computed using monthly returns for the last three years. A value of 1.00 denotes average risk. Values above 1.00 indicate greater risk than average while values below 1.00 indicate less risk than average. Risk numbers that are in the lowest 25% of all funds within the investment category are shown in boldface.

Total Assets ($ Mil): Aggregate fund value in millions of dollars at the end of the calendar year.

Portfolio (%)—Stock/Bond/Other/Cash: The portfolio composition columns classify investments by type and give the percentage of the total portfolio invested in each. Some funds are “funds of funds” and their portfolio holdings may be denoted by “100% other.” Due to rounding of the percentages and the practice of leverage (borrowing) to buy securities, the portfolio total percentage may not equal 100%.

Percent of Portfolio in Foreign Issues: The percentage of the fund’s assets that is invested in foreign stocks and bonds.

Portfolio Turnover Ratio (%): A measure of the trading activity of the fund, which is computed by dividing the lesser of purchases or sales for the year by the monthly average value of the securities owned by the fund during the year. Securities with maturities of less than one year are excluded from the portfolio turnover calculation. The result is expressed as a percentage, with 100% implying a complete turnover within one year.

Number of Holdings: The total number of individual securities held by the fund. These can include stocks, bonds, currencies, futures contracts and option contracts. This figure is meant to be a measure of portfolio risk: The lower the number, the more concentrated the fund is in a few issues.

Percent of Portfolio in Top 10 Holdings: Investments, expressed as a percentage of the total portfolio assets, in the fund’s top 10 portfolio holdings. The higher the percentage, the more concentrated the fund is in a few companies or issues, and the more the fund is susceptible to market fluctuations in these few holdings. Used in combination with the number of holdings figure, the percent of portfolio in top 10 investments figure can indicate how concentrated a fund is.

Expense Ratio (%): The sum of administrative fees plus adviser management fees and 12b-1 fees divided by the average net asset value of the fund, stated as a percentage. Brokerage costs incurred by the fund are not included in the expense ratio but are instead reflected directly in net asset value. Front-end loads, back-end loads, redemption fees, and account activity charges are not included in this ratio. Some funds are “funds of funds” and their expense ratios will not reflect the expenses of all funds held by the fund. Expense ratios that are in the lowest 25% of all funds within the investment category are shown in boldface.

Max Load (%): Percentage maximum fee. The letter next to the fee indicates the load type: F = a front-end load (a sales charge incurred upon purchase), and R = a redemption fee that is incurred at the time of sale. A — = no loads or charges. Returns are not adjusted for loads, redemption fees or charges.

12b-1 Fee (%): If a fund has a 12b-1 fee, the percentage that the fund charges is given. A — = no 12b-1 fee is charged.

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Performance Tables

Table 1. Performance of Category Averages and Index Benchmarks

 

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              Total Annual     Total Exp
    Annual Total Return (%) Return (%) Total Return (%)   Yield Risk Ratio
Category   2011 2010 2009 2008 2007 Bull Bear 3-Yr 5-Yr 10-Yr (%) Index (%)
Stk-LC Large-Cap Stock -0.9 15.3 31.9 -38.5 8.3 98.3 -50.6 14.4 -0.3 3 0.9 1.15 0.96
Stk-MC Mid-Cap Stock -3.1 23.6 36.9 -39.6 9.5 121.7 -51.2 17.7 1.2 5.7 0.3 1.25 1.06
Stk-SC Small-Cap Stock -4.3 26.9 37.6 -38.3 2.6 138.5 -52.9 18.4 0.8 6 0.2 1.43 1.23
LS Long-Short -1.8 3.2 7.2 -15.2 7.2 20.4 -18.5 2.6 -0.2 3.7 0.2 0.48 1.88
Contra Contra Market -15.3 -26.7 -35.5 30.9 -6.4 -61.7 72.9 -27.7 -15.6 -12.3 0.1 1.59 1.64
Sec-E Energy/Resources Sector -12.5 21.1 52.8 -53.5 42.9 145.1 -57.9 17.2 0.5 11.3 2 1.81 1.2
Sec-F Financial/Banking Sector -13.1 13.1 22.2 -44.4 -8.8 93.5 -61.3 6 -10.2 -0.4 0.9 1.55 1.11
Sec-G Gold Sector -22.9 41.5 59 -37.4 23.7 131 -43.6 19.9 5.4 19.4 1.6 2.02 1.31
Sec-H Health Sector 8.4 11.2 28.5 -26 11.3 85.2 -35.6 15.5 4.7 5.3 0.3 0.97 1
Sec-R Real Estate Sector 0.4 24.6 36.3 -44.2 -13.3 173.2 -66.3 18.9 -4.3 9.2 2 1.74 1.08
Sec-T Technology Sector -5.6 19.5 64.2 -45.6 15.4 133.7 -53.6 22.6 2.9 2.2 0 1.27 1.3
Sec-TC Telecommunications Sector -1.3 19.4 44.5 -44.2 13.4 113.7 -53.7 18.8 0.9 3.9 1.7 1.19 1.17
Sec-U Utilities Sector 15.9 11.2 15.2 -32.9 15.6 64.7 -43.2 14 2.7 6.2 2 0.81 1.07
IntS-Glb Global Stock -7.7 14.4 35.8 -41.4 13 97.7 -52.6 12.5 -1.6 4.9 1 1.17 1.35
IntS-F Foreign Stock -14.3 13.9 38.7 -45.4 12.6 108.3 -58 10.5 -3.9 5.7 1.8 1.37 1.14
IntS-R/C Regional/Country Stock -18.3 16.4 58.1 -50 27.4 133.4 -61.5 13.4 -2.6 8.1 1.2 1.58 1.35
IntS-E Emerging Stock -21.7 19.8 80 -59.5 40.3 166.4 -67.5 18.7 -2.3 12.9 0.8 1.7 1.56
Bal Balanced: Domestic 1 11.8 21.9 -23.4 7.3 60.8 -32.1 11.2 2.3 5 2.1 0.69 0.9
Bal-Glb Balanced: Global -1.6 13.5 27.7 -29.6 8.7 74.7 -39 12.2 1.5 3.9 3.4 0.77 1.05
TD2000 Target Date: 2000-2014 2.7 9.6 17.5 -17.6 6.6 45.8 -24.9 9.8 3 3.9 2.3 0.47 0.55
TD2015 Target Date: 2015-2029 0.1 12.6 24.9 -27.9 7 69.5 -38.3 12.1 1.4 3.2 2 0.76 0.69
TD2030 Target Date: 2030+ -2.8 15.3 31.2 -35.8 7.6 91.7 -48 13.7 0.2 3.5 1.6 1.02 0.68
B-CHY Corp High-Yield Bond 3.2 12.9 39.6 -20.8 2.5 62.9 -20.5 17.5 5.6 7 6.4 0.55 0.96
B-Cnvt Convertible Bond -2 16.5 40.5 -28.5 8.9 87.1 -33.2 16.8 3.9 5.9 3.8 0.75 0.81
B-MB Mortgage-Backed Bond 5.6 5.7 6.7 1.2 5.9 14.4 3.4 6 4.9 4.4 3 0.14 0.69
B-GvST Gov’t: Short-Term Bond 2.3 2.6 1.7 5.2 6.4 5.3 6.7 2.2 3.6 3.3 1 0.09 0.54
B-GvIT Gov’t: Interm-Term Bond 7.6 5.5 1.2 9.5 7.6 9.7 10.6 4.7 6.2 5 2.3 0.21 0.58
B-GvLT Gov’t: Long-Term Bond 31.8 10.6 -17.9 30.7 10.4 3.9 19.9 5.9 11.3 9 2.3 0.94 0.86
B-IP Inflation-Protected Bond 12.2 5.9 11.1 -2.4 10.8 24 0.1 9.7 7.4 7.2 3 0.33 0.5
B-GenST General Bond: Short-Term 1.6 5 10.3 -5.4 4.1 17.4 -4.4 5.5 2.9 3.1 2.2 0.14 0.65
B-GenIT General Bond: Interm-Term 6 7.6 13 -1.4 5.3 25.7 -1 8.7 5.9 5.6 3.4 0.21 0.66
B-GenLT General Bond: Long-Term 13.2 10.2 15.9 -3.9 5.2 37.7 -7.4 12.8 7.6 7.3 4.5 0.45 0.52
B-MNST Muni Nat’l: Short-Term 2.9 1.6 5.8 2.2 3.8 6.6 4.7 3.4 3.2 3 1.7 0.08 0.53
B-MNIT Muni Nat’l: Interm-Term 8.8 2.2 10 -0.2 3.5 11.1 4.1 6.9 4.8 4.5 2.9 0.24 0.56
B-MNLT Muni Nat’l: Long-Term 10.5 1.8 15.2 -5.6 2.2 14.1 -0.8 9 4.5 5 3.8 0.29 0.55
B-MHY Muni Nat’l: High-Yield 10.6 3.3 26.8 -19.9 -0.8 23.5 -15.4 13.1 2.8 4.4 4.8 0.39 0.65
IntB-Gen Int’l Bond: General 3.4 6 12.3 -0.4 7.3 30.4 -3.9 7.1 5.5 6.3 3.9 0.43 0.86
IntB-E Int’l Bond: Emerging 3.9 12.3 34.3 -17 4.7 55.9 -18.6 16.1 6.3 10.6 5.6 0.49 0.98
IntB-C Int’l Bond: Currency -3.5 0.9 3.1 -4.4 7 12.6 -5.5 0.1 0.3 0.9 0.72 1.49
Index Benchmarks                          
  S&P 500 Equal Weighted -0.1 21.9 46.3 -39.7 1.5 141.5 -53.7 21.2 1.8 6.3 1.34
  S&P 500 2.1 15.1 26.5 -37 5.5 93.9 -50.9 14.1 -0.3 2.9 1.1
  S&P MidCap 400 -2 26.3 37 -36.5 7.7 131.8 -49.5 19.2 3 6.8 1.29
  S&P SmallCap 600 1 26.3 25.6 -31.1 -0.3 128 -51.3 17 1.9 7.1 1.46 — 
  MSCI World -5 12.3 30.8 -40.3 9.6 96.1 -53.6 11.8 -1.8 4.2 1.19 — 
  MSCI EAFE -11.7 8.2 32.5 -43.1 11.6 94.2 -56.3 8.2 -4.3 5.1 1.32 — 
  MSCI Europe -10.5 4.5 36.8 -46.1 14.4 106 -58.9 8.6 -4.6 4.9 1.5
  MSCI Far East -14.6 16.6 12.8 -32.3 0.3 53.8 -47 3.9 -5.3 3.9 0.99
  MSCI Pacific -13.6 16.1 24.3 -36.2 5.6 74.5 -50.6 7.6 -3.4 5.8 1.07
  BarCap US Agg Bond 7.8 6.5 5.9 5.2 7 16.2 6 6.8 6.5 5.8 0.16
  BofA ML US Corp Bond 7.5 9.5 19.8 -6.8 4.6 36.3 -7.2 12.1 6.6 6.3 0.3 — 
  BofA ML High Yield Bond 4.5 15.2 56.3 -26.2 2.2 86.6 -26.2 23.5 7.3 8.5 0.64 — 
  BarCap GNMA Bond 7.9 6.7 5.4 7.9 7 13.9 10.7 6.6 7 5.8 0.14
  BarCap US Gov’t 1-3 Yr 1.6 2.4 1.4 6.7 7.1 4.5 8.4 1.8 3.8 3.4 0.06
  BarCap US Gov’t Interm 6.1 5 -0.3 10.4 8.5 7.2 11.8 3.5 5.9 4.9 0.17
  BarCap US Gov’t Long 29.1 9.4 -12.2 22.7 9.6 6.8 16 7.5 10.8 8.9 0.77 — 
  BarCap Municipal Bond 10.7 2.4 12.9 -2.5 3.4 13.4 2.5 8.6 5.2 5.4 0.27 — 
  Treasury Bills 0.1 0.2 0.2 1.4 4.4 0.2 1.9 0.1 1.2 1.8 0 — 

 

 

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Table 2. Top 50 Performers for 2011

 

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                Total Return (%) Annual Total Exp
      Annual Total Return (%) Bull Bear Total Return (%) Risk Ratio
Closed Category Fund (Ticker) 2011 2010 2009 2008 2007 Mrkt Mrkt 3-Yr 5-Yr 10-Yr Index (%)
  B-GvLT Fidelity Spar L-T Tr Bd Ix Inv (FLBIX) 29.4 9.1 -13.5 24.1 9.5 6 16.3 6.9 10.7 0.8 0.2
  B-GvLT Vanguard LongTm US Try Inv (VUSTX) 29.2 8.9 -12.1 22.5 9.2 6.6 15.5 7.3 10.6 8.7 0.79 0.22
  B-GvLT T. Rowe Price US Try L/T (PRULX) 28.3 8.9 -10.9 23.2 9.9 7.3 17.2 7.5 11 8.3 0.77 0.55
  Sec-U FBR Gas Utility Idx Inv (GASFX) 25.1 12.3 23.9 -28.3 14 84.3 -38.5 20.3 7.3 8.5 0.85 0.76
  B-GvLT AmCent Zero Coupon 2020 Inv (BTTTX) 23 12.5 -7.5 16.9 9.5 15.2 12 8.6 10.4 9.8 0.66 0.57
  B-GenLT Vanguard LongTm Bd Idx Inv (VBLTX) 22 10.2 1.7 8.6 6.5 24.3 2.2 11 9.6 8.4 0.55 0.22
  Sec-H Fidelity Sel Biotech (FBIOX) 18.1 11.4 10.7 -11.4 2.6 57.8 -25.4 13.4 5.8 2.8 1.16 0.87
  B-GenLT Vanguard LongTm InvGrde Inv (VWESX) 17.1 10.7 8.7 2.2 3.7 34.7 -4.9 12.1 8.4 7.8 0.54 0.24
  B-MS-CA Northern CA Tax-Exempt (NCATX) 15.1 1.7 12.3 -3.3 2.7 12.9 1.7 9.6 5.5 5.4 0.38 0.45
  B-MS-CA USAA CA Bond (USCBX) 14.7 0.8 18.8 -12.6 0.5 12.6 -6.4 11.2 3.8 4.6 0.47 0.49
  Stk-LC Payden Value Leaders (PYVLX) 14.3 12.5 18.7 -40.5 2.1 83.6 -55.5 15.1 -1.5 2.5 1.06 0.83
  Sec-H Fidelity Sel Pharma (FPHAX) 13.6 16.3 25.4 -22.8 13.3 93.2 -34.7 18.3 7.7 5.5 0.95 0.94
  B-IP Vanguard Infl-Prot Secs Inv (VIPSX) 13.2 6.1 10.8 -2.9 11.5 23.6 0.1 10 7.6 7.3 0.33 0.22
  Stk-LC Sequoia (SEQUX) 13.1 19.5 15.3 -27.1 8.3 85.8 -40.7 15.9 4.3 5.5 0.95 1.04
  B-IP AmCent Inf-Adj Bond Inv (ACITX) 13 5.4 10.5 -1.1 10.9 22.4 2 9.6 7.6 7 0.32 0.48
  Sec-U Fidelity Set Util Port (FSUTX) 13 10.9 14.3 -36 18.1 58.3 -45 12.8 1.6 5.3 0.78 0.9
  B-IP Fidelity Inflation-Prot Bd (FINPX) 12.9 5.8 9.6 -2.4 9 22.8 -0.5 9.4 6.9 0.33 0.45
  B-GvIT Fidelity Spar Intm Bd Ix Inv (FIBIX) 12.9 8.4 -5.1 16.3 10 8.9 15.8 5.1 8.3 0.37 0.2
  B-IP Schwab Treas Inflation Prot (SWRSX) 12.8 5.8 9.2 -2 10.6 22.4 -0.1 9.2 7.1 0.33 0.29
  B-MNLT USAA Tax Ex Long-Term (USTEX) 12.4 1.3 22 -12.6 0.6 18.6 -7.5 11.6 4.1 5.1 0.38 0.47
  Stk-LC ING Corporate Leaders B (LEXCX) 12.2 21.1 12.1 -29.3 10.8 95.1 -45 15.1 3.6 7.4 1.09 0.59
  B-MS-NY USAA NY Bond (USNYX) 12.1 2.1 16.9 -7.8 1.1 15.8 -2.9 10.2 4.5 5.1 0.32 0.63
  B-MS-FL USAA FL Tax-Free Inc (UFLTX) 12.1 0.8 17.6 -8.7 0.8 14.4 -4.1 10 4.1 4.9 0.33 0.63
  B-IP T. Rowe Price Infl Prot Bd (PRIPX) 12 6.2 10.4 -1.9 11.1 23.6 0.6 9.5 7.4 0.31 0.53
  B-MS-CA AmCent CA Lng T/F Inv (BCLTX) 11.9 1.6 13.7 -6.1 1.5 12 -0.8 8.9 4.3 4.7 0.35 0.48
  B-MNLT Northern Tax-Exempt (NOTEX) 11.8 0.2 12.3 -1.8 2.9 11.1 2.8 8 4.9 5.1 0.3 0.45
  Sec-U Fidelity Telecom & Util (FIUIX) 11.8 17.3 11 -34.6 10.8 63.6 -44.5 13.3 1.1 5 0.77 0.66
  B-GvST AmCent Zero Coupon 2015 Inv (BTFTX) 11.8 8.8 -1 12.7 10 13.7 12.9 6.4 8.4 8.2 0.35 0.57
  Sec-R AmCent Real Estate Inv (REACX) 11.6 28.9 26.6 -43.3 -15.9 183.7 -68.3 22.1 -2.8 10 1.91 1.16
  B-MS-AZ Northern AZ Tax-Exempt (NOAZX) 11.6 1.7 11.3 -1.5 3.3 11.6 3.7 8.1 5.1 4.8 0.3 0.45
  Sec-H Schwab Health Care (SWHFX) 11.5 9.7 20.1 -25 10.6 73.4 -36.2 13.7 4 7.3 0.84 0.82
  Sec-H Vanguard Health Care Inv (VGHCX) 11.4 6.1 20.9 -18.5 4.4 69.4 -31.8 12.6 4 6.7 0.83 0.35
  B-MS-CA Vanguard CA Lg T/E Inv (VCITX) 11.4 1.7 13.2 -6.9 1.5 11.9 -2.1 8.6 3.9 4.7 0.34 0.2
  B-MS-CA Fidelity CA Muni Inc (FCTFX) 11.2 3.1 11.6 -5.7 2.8 12.8 -0.9 8.6 4.4 4.8 0.31 0.46
  B-IP PIMCO Real Ret D (PRRDX) 11.1 7.3 18.4 -6.9 11 32.9 -3.4 12.2 7.9 7.4 0.35 0.85
  Sec-U AmCent Utilities Inv (BULIX) 11.1 11.1 14.4 -31.2 17.8 57.7 -41.1 12.2 2.7 6.2 0.74 0.69
  B-MS-NC Dupree NC Tax-Fr Inc (NTFIX) 11.1 0.5 10.4 -1.5 3 10.7 3 7.2 4.6 4.7 0.26 0.7
  Sec-H T. Rowe Price Health Sci (PRHSX) 11 16.3 32.1 -28.8 18.7 100.7 -35.6 19.5 7.6 7.5 0.99 0.84
  B-MS-CA AmCent CA Hi-Yld Muni Inv (BCHYX) 11 4.2 20.4 -13.6 -0.4 18.7 -8.3 11.7 3.7 5.2 0.4 0.51
  B-MNLT Fidelity Tax-Free Bond (FTABX) 10.9 2.1 13.2 -3.4 3.1 13.3 1.5 8.6 5 5.5 0.27 0.25
  B-MHY T. Rowe Price T/F Hi-Yld (PRFHX) 10.9 3.9 31.4 -21.5 -1.2 28.8 -17.1 14.8 3.2 4.9 0.4 0.68
  B-MHY Vanguard Hi-Yld T/E (VWAHX) 10.9 2.5 20.1 -10.5 1.5 18.4 -5.1 10.9 4.4 5 0.34 0.2
  B-MS-VA USAA VA Bond (USVAX) 10.9 1.1 15.9 -7.5 1 14.3 -2.8 9.1 4 4.6 0.27 0.51
  B-MS-FL Vanguard FL Foc T/E Inv (VFLTX) 10.9 1.6 14.4 -5.1 3.4 13.4 0.1 8.8 4.8 5.1 0.28 0.2
  Stk-LC Vice Investor (VICEX) 10.8 18 12.7 -41.6 17.7 76.1 -52.2 13.8 0.2 0.98 1.61
  Stk-LC Hennessy Total Return (HDOGX) 10.8 14 16.9 -31.8 2 79.8 -49.5 13.9 0.5 3.6 0.88 1.26
  B-MNLT Fidelity Municipal Inc (FHIGX) 10.6 2.5 13.1 -4.7 3 13.6 0.3 8.6 4.7 5.3 0.27 0.46
  Stk-LC Vanguard Equity-Inc Inv (VEIPX) 10.6 14.8 17.1 -31 4.8 92.7 -48.8 14.1 1.5 4.9 1.07 0.31
  B-GenIT Vanguard Intm Bd Idx Inv (VBIIX) 10.6 9.3 6.7 4.9 7.6 22.2 4.9 8.9 7.8 6.6 0.27 0.22
  B-MNLT Vanguard LongTm T/E (VWLTX) 10.6 1.5 14 -4.9 2.5 12.9 0.1 8.6 4.5 5 0.3 0.2

 

 

 

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Table 3. Bottom 50 Performers for 2011

 

Click on title to open table in Excel.

                Total Return (%) Annual Total Exp
      Annual Total Return (%) Bull Bear Total Return (%) Risk Ratio
Closed Category Fund (Ticker) 2011 2010 2009 2008 2007 Mrkt Mrkt 3-Yr 5-Yr 10-Yr Index (%)
  Contra ProFunds Rising Opprt Inv (RRPIX) -37.5 -16 32.6 -37.7 -4.9 -10.2 -28 -11.4 -16.2 1.37 1.58
  IntS-R/C Matthews India Inv (MINDX) -36.5 32.5 97.2 -62.4 64.1 202.6 -66.2 18.4 0.5 2.03 1.18
  IntS-R/C T. Rowe Price Emg Eur & Med (TREMX) -33.2 33.4 125.1 -75.9 27.9 267.7 -78.4 26.1 -9.1 11.7 2.02 1.41
  IntS-F Janus Overseas T (JAOSX) -32.8 19.2 78.1 -52.8 27.7 129.7 -58.7 12.6 -3 7.5 1.61 0.98
  Sec-G US Glb Inv Wld Prec Min (UNWPX) -32.6 45.3 89.5 -53 23 164 -56.1 22.9 1.4 22.5 1.94 1.85
  Stk-LC Fairholme (FAIRX) -32.5 25.4 39 -29.8 12.3 113.9 -47.8 5.6 -1.5 6.5 1.51 1.01
  Contra Rydex Inv Gov Lg Bd Str Inv (RYJUX) -30.4 -13.1 19.5 -29.5 -4.4 -12.8 -20.9 -10.3 -13.4 -9.4 1.12 1.42
  IntS-R/C US Glb Inv East Euro (EUROX) -28 18.6 77.9 -69.2 32.8 179.5 -74.7 15 -9.1 14.4 1.88 1.91
  IntS-R/C Guinness Atkinson China & HK (ICHKX) -27.6 15.3 92.7 -54.5 65 160.3 -66.7 17.2 3.9 11.2 1.81 1.48
  Sec-M Fidelity Sel Automotive (FSAVX) -26.2 46.1 122.2 -61.3 0 368 -77.4 33.8 -1.5 4 2.77 0.91
  IntS-R/C T. Rowe Price Latin Amer (PRLAX) -25.2 18.4 114.3 -55.8 48.9 174.6 -61.6 23.8 4.6 18.4 1.78 1.24
  IntS-E Bernstein Emerging Markets (SNEMX) -23.7 15.6 87.4 -56.6 34 159.3 -64.7 18.2 -0.8 15.1 1.66 1.44
  Sec-F Fidelity Sel Brokerage (FSLBX) -22.9 11.1 50.4 -49.4 -0.2 102.6 -59.9 8.8 -8.2 2.7 1.66 0.88
  Sec-G Vanguard Prec Mtls Mining Inv (VGPMX) -21.8 37.4 76.4 -56.1 36.1 192.2 -64 23.8 2.6 17.5 1.89 0.27
  IntS-E Fidelity Emerging Market (FEMKX) -21.1 18.2 76 -60.9 45 154.5 -68.1 18 -1.4 11.8 1.58 1.14
  IntS-R/C Fidelity China Region (FHKCX) -20.4 18 65.5 -44.9 46.2 125.3 -57.1 15.8 4.6 9.8 1.51 1.06
  Sec-F Fidelity Sel Fincl Svcs (FIDSX) -20.4 6.4 25.8 -49.9 -13.6 90 -68 2.2 -14.3 -3 1.78 0.92
  IntS-R/C Fidelity Nordic (FNORX) -20.4 26.4 47.4 -56 23.2 161.4 -66.9 14.1 -4.3 7 1.7 1.12
  IntS-F Longleaf Partners Intl (LLINX) -20.3 13.6 23.1 -39.6 15.2 78.1 -52.8 3.7 -5 2.9 1.3 1.38
C IntS-R/C Matthews Asia Small Co (MSMLX) -20.1 35.5 103 217.3 30 1.63 1.59
  Contra Rydex Inv S&P 500 2x Str H (RYTPX) -20.1 -32.9 -50.6 66.1 -4 -80.4 156.3 -35.8 -15.8 -14.6 2.1 1.79
  IntS-F Vanguard Intl Explorer Inv (VINEX) -19.8 22.5 47.1 -46.7 5.1 129.8 -59.5 13.1 -4.1 8.5 1.35 0.39
  Sec-G USAA Prec Metals & Min (USAGX) -19.7 39.9 62.4 -24.6 27.6 130.4 -30.5 22.2 11.9 24.5 1.94 1.15
  Sec-G AmCent Global Gold Inv (BGEIX) -19.3 44.7 43.2 -27.3 15.1 109.3 -33.9 18.7 7 18.2 2.1 0.69
  IntS-E Northern Emerging Mkts Idx (NOEMX) -19.2 18.2 72.6 -53.1 36.5 147.9 -62.8 18.1 1.1 1.56 0.3
  IntS-F Vanguard FTSE AWexUS SmCp I (VFSVX) -19.1 24.9 1.35 0.55
  IntS-R/C Matthews China Inv (MCHFX) -19 15.7 78.3 -49 70.1 137.5 -60 18.7 7.7 15 1.48 1.15
  IntS-E T. Rowe Price Emg Mkt St (PRMSX) -18.9 18.7 85 -60.6 42.9 168.9 -68.1 21.2 0.1 12.9 1.66 1.27
  IntS-E Vanguard Emerg Mkt Idx (VEIEX) -18.8 18.8 75.9 -52.9 38.9 155.4 -62.7 19.3 2.1 13.3 1.59 0.35
  Sec-E US Glb Inv Glob Res (PSPFX) -18.7 38 68.2 -62.2 39.9 166.6 -65.2 23.5 0 18.7 1.62 1.74
C IntS-E Lazard Emg Mkt Eq Open (LZOEX) -18.1 22.4 69.1 -48.1 32.7 148.2 -57.2 19.2 3.1 15.6 1.5 1.49
  IntS-E Pear Tree Emg Mkts Ord (QFFOX) -18 19.7 70.3 -59.3 45.4 151.8 -67.9 18.7 -0.2 14.1 1.49 1.77
  IntS-Glb Janus Global Sel T (JORNX) -17.9 20 54.7 -49.8 32.3 120 -57.4 15.1 0.2 5.3 1.33 1.01
  IntS-E Northern Mlt-Mgr EmgMktEq (NMMEX) -17.8 23 74.9 159.8 20.9 1.55 1.36
  IntS-E Harding Loevner Emg Mkt (HLEMX) -17.6 20.9 63.4 -52.4 35.9 135.7 -61.2 17.7 1.1 13.5 1.48 1.49
C IntS-E William Blair Emg Mkts Gr N (WBENX) -17.5 23.4 73.8 -61.8 37.7 148.4 -68 21 -1.4 1.45 1.63
  IntS-R/C Fidelity Pacific Basin (FPBFX) -17.1 32.7 59.3 -55.8 25.2 176.3 -67.7 20.6 -0.6 8.1 1.5 1.07
  Contra ProFunds Rising Rate 10 Inv (RTPIX) -17.1 -10.1 6.6 -17.8 -3.3 -10.7 -16.2 -7.4 -8.8 0.49 1.64
  IntS-R/C Fidelity Europe Cap App (FECAX) -17 8.3 32 -46.3 14.7 96.4 -58 5.9 -6.1 4.5 1.52 1.03
  IntS-R/C Fidelity Europe (FIEUX) -16.8 8.5 31.6 -44.1 16.4 96.2 -56 5.9 -5 4.9 1.52 1.12
  Sec-TC Fidelity Sel Comm Equip (FSDCX) -16.7 27.7 80.6 -48.5 9.7 182.4 -58.4 24.3 1.6 1.6 1.64 0.91
  IntS-F Oakmark Intl Small Cap I (OAKEX) -16.5 21.5 67.4 -45.8 -8.4 155.6 -60 19.3 -3.3 9.9 1.44 1.38
  Sec-G Fidelity Sel Gold (FSAGX) -16.4 35.2 38 -20.5 24.9 98.1 -29.4 16 9.1 18.2 1.91 0.9
  IntS-F Manning & Napier Wrld Opp A (EXWAX) -16.2 9.2 39.1 -40.1 15.1 102.5 -51.1 8.4 -2.6 6.7 1.4 1.12
  IntS-R/C Fidelity Emerging Asia (FSEAX) -16.2 22.7 39.2 -51.9 55.3 110.4 -63.8 12.7 1.3 11.6 1.34 0.78
  IntS-R/C T. Rowe Price Afr&Mid East (TRAMX) -16.2 17.2 22 -53.4 80.3 -61 6.2 1.28 1.47
  IntS-F Old Westbury LC Strat (OWLSX) -16.1 15.1 18.8 -34.3 3.3 79.5 -49.2 4.7 -4.9 3.7 1.27 1.16
  IntS-F Wasatch Intl Opprt (WAIOX) -16.1 26.1 75 -54.8 15.1 171.2 -65.4 22.8 -0.7 1.4 2.26
  IntS-F Dodge & Cox Intl Stk (DODFX) -16 13.6 47.4 -46.7 11.7 131.7 -59.9 12.1 -3.5 7.9 1.54 0.65
  IntS-F Fidelity Overseas (FOSFX) -16 6.5 25.1 -47.4 21.8 80.9 -60.2 3.8 -6.4 3.1 1.46 0.73

 

 

 

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Table 4. Performance of the 50 Most Widely Held Funds

 


Click on title to open table in Excel.

      Total           Total Return (%) Annual Total
      Assets Annual Total Return (%) Bull Bear Total Return (%) Risk
Closed Category Fund (Ticker) ($ Mil) 2011 2010 2009 2008 2007 Mrkt Mrkt 3-Yr 5-Yr 10-Yr Index
  Stk-LC Vanguard Tot Stk Idx Inv (VTSMX) 62,668 0.9 17 28.7 -37.1 5.4 100.8 -50.8 15 0.2 3.7 1.14
  Stk-LC Fidelity Contrafund (FCNTX) 54,719 -0.2 16.9 29.2 -37.2 19.7 86.2 -46.3 14.7 2.5 6.9 0.94
  IntS-F Dodge & Cox Intl Stk (DODFX) 37,795 -16 13.6 47.4 -46.7 11.7 131.7 -59.9 12.1 -3.5 7.9 1.54
  Stk-LC Dodge & Cox Stock (DODGX) 36,876 -4.1 13.4 31.2 -43.4 0.1 109.4 -57.9 12.6 -4.1 4 1.32
  B-GenIT Vanguard Total Bd II Idx Inv (VTBIX) 35,626 7.5 6.4 15.6 0.16
  IntS-F Vanguard Total Intl Stk Idx Inv (VGTSX) 29,949 -14.6 11.1 36.7 -44.1 15.5 106.8 -58.5 9 -3.5 5.8 1.41
  Stk-LC Vanguard 500 Idx Inv (VFINX) 25,967 1.9 14.9 26.4 -37.1 5.3 93.6 -50.9 14 -0.4 2.8 1.1
  Bal Vanguard Wellington Inv (VWELX) 25,506 3.8 10.9 22.2 -22.3 8.3 64 -32.5 12 3.4 6.1 0.72
  B-GenIT Dodge & Cox Inc (DODIX) 23,698 4.7 7.1 16 -0.3 4.6 28.5 -0.3 9.2 6.3 5.9 0.2
C Stk-LC Fidelity Grth Company (FDGRX) 23,529 0.6 20.5 41.1 -41 19.8 114.4 -50.2 19.6 3.9 4.7 1.12
  Stk-MC Fidelity Low-Priced Stk (FLPSX) 23,444 -0.1 20.7 39 -36.2 3.1 119 -48.8 18.8 2 8.6 1.15
  Stk-LC T. Rowe Price Gr Stk (PRGFX) 22,672 -1 16.9 43.2 -42.3 10.3 95.7 -49.1 18.3 1.1 3.6 1.1
  Stk-LC T. Rowe Price Eq Inc (PRFDX) 19,081 -0.8 15.1 25.6 -35.8 3.2 102.1 -52.5 12.8 -1 4 1.24
  Stk-LC Vanguard Windsor II Inv (VWNFX) 18,387 2.7 10.6 27 -36.8 2.2 92.8 -52.8 13 -1.4 4.2 1.15
C Bal Oakmark Equity & Inc I (OAKBX) 17,596 0.6 9.5 19.8 -16.2 11.9 54.2 -24.7 9.7 4.3 7.1 0.72
  B-GenIT PIMCO Total Ret D (PTTDX) 17,487 3.8 8.5 13.5 4.4 8.7 26.8 7 8.5 7.7 6.4 0.21
C Stk-MC T. Rowe Price Mid Gr (RPMGX) 16,699 -1.3 28 45.4 -39.7 17.6 131.8 -48.2 22.5 5.4 7.5 1.16
  TD2015 Vanguard Target Rtmt 2025 Inv (VTTVX) 16,357 -0.4 13.8 24.8 -30.1 7.5 78.2 -42.4 12.2 1.2 0.89
  Stk-LC Fidelity Spartan 500 Index Inv (FUSEX) 15,924 2 14.9 26.5 -37.1 5.4 93.8 -50.9 14 -0.3 2.8 1.1
  Bal Permanent Port (PRPFX) 15,405 2.1 19.3 19 -8.4 12.4 65.6 -15.1 13.2 8.3 10.9 0.66
  TD2015 Fidelity Freedom 2020 (FFFDX) 15,228 -1.4 12.9 28.8 -32.2 8.5 76.3 -42.3 12.8 1.1 4.1 0.81
  B-IP Vanguard Infl-Prot Secs Inv (VIPSX) 15,220 13.2 6.1 10.8 -2.9 11.5 23.6 0.1 10 7.6 7.3 0.33
  B-GenIT T. Rowe Price New Inc (PRCIX) 15,142 6.2 7.1 12.3 1.4 6.3 22.6 3.1 8.5 6.6 5.7 0.16
  IntS-F Fidelity Diversified Intl (FDIVX) 15,027 -13.8 9.6 31.7 -45.3 16 91.9 -57.5 7.6 -4.6 5.7 1.34
C Stk-LC Vanguard PRIMECAP Inv (VPMCX) 14,935 -1.9 12.8 34.4 -32.5 11.4 93 -44.3 14.2 2.3 5.3 1.12
  B-MB Vanguard GNMA Inv (VFIIX) 14,881 7.6 6.9 5.2 7.2 7 14.4 10 6.6 6.8 5.7 0.13
  Bal Fidelity Balanced (FBALX) 14,862 1.6 13.7 28 -31.4 8.9 73 -40.4 13.9 2 5.9 0.73
  Bal Fidelity Puritan (FPURX) 14,841 0.6 14 26.6 -29.2 6.1 72.1 -37.8 13.3 1.8 4.9 0.74
  TD2015 Vanguard Target Rtmt 2015 Inv (VTXVX) 14,394 1.7 12.4 21.2 -24.1 7.5 64.5 -34.9 11.5 2.5 0.71
  Bal Vanguard STAR Inv (VGSTX) 13,597 0.7 11.6 24.8 -25.2 6.5 67.6 -35.6 12 2.3 5.2 0.76
  Stk-LC T. Rowe Price Eq Idx 500 (PREIX) 13,514 1.8 14.7 26.3 -37.1 5.1 93 -51 13.8 -0.5 2.6 1.1
  B-GenST Vanguard ShtTm Inv-Grade Inv (VFSTX) 13,189 1.9 5.2 14 -4.8 5.8 19.8 -2.1 6.9 4.2 4 0.16
  Stk-LC Fidelity Magellan (FMAGX) 12,985 -11.6 12.4 41.1 -49.5 18.8 100.6 -58.2 11.9 -3.4 -0.2 1.3
  B-GenIT Vanguard Total Bd Idx Inv (VBMFX) 12,584 7.5 6.4 5.9 5 6.9 15.7 6 6.6 6.3 5.4 0.17
  Bal Dodge & Cox Bal (DODBX) 12,386 -1.7 12.2 28.3 -33.6 1.7 84.6 -45.7 12.3 -0.9 4.7 0.99
  TD2015 Vanguard Target Rtmt 2020 Inv (VTWNX) 12,288 0.6 13.1 23.1 -27.1 7.5 71.2 -38.7 11.8 1.9 0.8
  B-GenIT Fidelity Total Bond (FTBFX) 11,937 7.4 8.5 19.7 -5.6 4.1 32.1 -3.3 11.7 6.5 0.2
  Stk-LC T. Rowe Price Value (TRVLX) 11,391 -2 15.9 37.1 -39.8 0.7 115.1 -54.3 15.9 -1.1 4.1 1.27
  TD2030 Vanguard Target Rtmt 2035 Inv (VTTHX) 11,361 -2.3 15.1 28.1 -34.7 7.4 91.7 -48 13 0.2 1.06
  TD2030 Fidelity Freedom 2030 (FFFEX) 11,244 -3.2 14 30.5 -37 9.2 87.1 -48.3 12.9 -0.2 3.6 0.97
  Stk-LC Schwab S&P 500 (SWPPX) 10,913 2 14.9 26.2 -36.8 5.5 93.3 -50.7 14 -0.3 2.8 1.1
  Bal T. Rowe Price Cap Apprec (PRWCX) 10,770 3.1 14 33 -27.2 4.5 81.1 -36.4 16.1 3.5 7.8 0.81
  Stk-LC T. Rowe Price BlChpGr (TRBCX) 10,661 1.5 16.4 42.5 -42.7 13 97 -50 19 1.7 3.1 1.11
  Bal Vanguard Wellesley Inc (VWINX) 10,280 9.6 10.6 16 -9.9 5.6 49.1 -18.8 12 6 6.6 0.45
  TD2015 T. Rowe Price Rtmt 2020 (TRRBX) 10,271 -1.3 14.7 34.1 -33.5 6.7 87.6 -43.6 15 1.5 0.92
  Stk-LC Fidelity Blue Chip Grth (FBGRX) 10,201 -2.8 19.6 44.9 -38.6 11.8 118.4 -48.8 19 2.9 2.3 1.22
  B-MB Fidelity GNMA (FGMNX) 9,445 7.9 7 6.9 7.1 6.7 15.4 10.4 7.2 7.1 5.7 0.14
  TD2030 Vanguard Target Rtmt 2030 Inv (VTHRX) 9,392 -1.3 14.4 26.7 -33 7.4 85.5 -45.9 12.7 0.6 0.98
  IntS-F Vanguard Intl Gr Inv (VWIGX) 9,320 -13.7 15.6 41.6 -45 15.9 117.4 -56.9 12.2 -2.1 5.5 1.42
  B-CHY Fidelity Capital & Inc (FAGIX) 8,908 -1.9 17.1 72.1 -31.9 3.7 115.5 -33.2 25.5 6.9 9.9 0.8


 


 

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Category & Style Definitions

Mutual Fund Categories

Mutual funds come in all shapes and sizes; there are thousands of mutual funds, each with its own characteristics. Many mutual funds, however, have shared investments that generally lead to other characteristics that are similar.

These shared characteristics allow us to divide mutual funds into categories; here we define the mutual fund categories used in AAII's Guide to the Top Mutual Funds. In the Guide, the individual fund listings appear alphabetically within each category.

Table 1 provides average returns and risk of funds by category, which illustrate some of the differences between these categories.

Stock Funds

Portfolio managers of mutual funds that invest in common stocks can choose from the stocks of different industries, stocks at different stages of development, and even stocks of different countries and regions. Over the stock market cycles, large stocks behave differently from small stocks, domestic stocks do not move in unison with foreign or emerging market stocks, and stocks in different sectors or industries react differently to the same economic and business conditions.

For investors to make initial investment decisions on stock mutual funds and to compare and evaluate the ongoing performance of investments in stock mutual funds, grouping similar funds together into cohesive categories is a logical first step. The stock fund categories provided in this guide to facilitate your selection and monitoring of fund investments encompass domestic funds, sector funds, and international funds.

Domestic Stock Funds

In funds categorized by stock size, the "cap" stands for capitalization (market share price times number of shares of common stock outstanding).

Large-cap stocks are usually stocks of national or multinational firms with well-known products or services provided to consumers, other businesses, or governments. Most of the stocks in the Dow Jones industrial average, the S&P 500 and the NASDAQ 100 are, for example, large-cap stocks. While some large-cap stocks are more volatile than others, a well-diversified mutual fund portfolio of large-cap stocks would perform similarly to most investors' conception of the stock market. Large-cap stocks, as a category, also tend to pay the highest cash dividends, although many large-cap stocks pay no dividends. Large-cap stock funds, in summary, tend to have the lowest volatility and highest dividend yield in the domestic common stock group.

Mid-cap stocks are, as their name implies, smaller than the largest domestic stocks. They are usually established firms in established industries with regional, national and sometimes international markets for their products and services. The S&P MidCap 400 index is a common benchmark for mid-cap stocks. These funds would tend to have lower dividend yields than large-cap funds and to have somewhat higher volatility.

Small-cap stocks are often emerging firms in sometimes emerging industries. But also, these small companies can be established firms with local, regional and sometimes even national and international markets. The benchmark for this group is the S&P SmallCap 600 index. These stocks must have liquid enough trading for mutual funds to invest and, although small, are still listed on the New York Stock Exchange, the American Stock Exchange or NASDAQ. These small-cap funds tend to be more volatile than large-cap and mid-cap funds, have very low dividend yields, and often do not move in tandem with large-cap and mid-cap funds.

The large-, mid- and small-cap categories capture a fund's predominant focus and are important because these size categories do not all behave alike in a market sense. The stocks do tend to move in somewhat different cycles and have pronounced differences in risk and return over time.

Neutral/Inverse Funds

Long-short funds hold sizable stakes in both long and short positions. Some funds are market neutral, dividing their exposure equally between long and short positions in an attempt to earn a modest return that is not tied to the market's fortunes. Others shift exposure to long and short positions depending upon their macro outlook or the opportunities they uncover through bottom-up research.

Contra stock market funds invest in short stock positions and derivatives. Because these funds often have extensive holdings in shorts or puts, returns generally move in the opposite direction of the benchmark index.

Sector Stock Funds

Sector funds concentrate their stock holdings in just one industry or a few related industries. They are diversified within the sector, but are not broadly diversified. They may invest in the U.S. or internationally. They are still influenced and react to industry/sector factors as well as general stock market factors. Sector funds have greater risk than diversified common stock funds. While there are a substantial number of sectors represented by mutual funds, a handful of sector designations cover most of the sector fund offerings: energy/resources, financial/banking, gold, health, real estate, technology, telecommunications, and utilities. As is clear from this sector category list, some sectors are of greater risk than others-technology versus utilities, for example. By definition, a sector fund is a concentrated, not diversified, fund holding.

International Stock Funds

International stock funds invest in the stocks of foreign firms. Some stock funds specialize in a single country, others in regions, such as the Pacific or Europe, and others invest in multiple foreign regions. In addition, some stock funds—usually termed "global funds"—invest in both foreign and U.S. securities. We have four classifications by type of investment for the international stock funds category—foreign stock funds, global stock funds, regional/country stock funds and emerging market stock funds.

International funds provide investors with added diversification. The most important factor when diversifying a portfolio is selecting investments whose returns are not highly correlated. Within the U.S., investors can diversify by selecting securities of firms in different industries. In the international realm, investors take the diversification process one step further by holding securities of firms in different countries. The more independently these foreign markets move in relation to the U.S. stock market, the greater the diversification benefit will be, and the lower the risk of the total portfolio.

In addition, international funds overcome some of the difficulties investors face in making foreign investments directly. For instance, individuals have to thoroughly understand the foreign brokerage process, be familiar with the various foreign marketplaces and their economies, be aware of currency fluctuation trends, and have access to reliable financial information in order to invest directly in foreign stocks. This can be a monumental task for the individual investor.

There are some risks unique to investing internationally. In addition to the risk inherent in investing in any security, there is an additional exchange rate risk. The return to a U.S. investor from a foreign security depends on both the security's return in its own currency and the rate at which that currency can be exchanged for U.S. dollars. Another uncertainty is political risk, which includes government restriction, taxation, or even total prohibition of the exchange of one currency into another. Of course, the more the mutual fund is diversified among various countries, the less the risk involved.

Balanced Stock/Bond Funds

In general, the portfolios of balanced funds consist of investments in common stocks and significant investments in bonds and convertible securities. The range as a percentage of the total portfolio of stocks and bonds is usually stated in the investment objective, and the portfolio manager has the option of allocating the proportions within the range. Some asset allocation funds-funds that have a wide latitude of portfolio composition change-can also be found in the balanced category. Some are also global balanced funds, allocating part of their portfolio to foreign investments.

A balanced fund is generally less volatile than a stock fund and provides a higher dividend yield.

Target Date Funds

Target date funds have year designations that investors can match to their planned retirement date. They invest in a mix of domestic and foreign stocks and bonds that becomes more conservative and income-oriented as the target date draws near—the allocation to stocks decreases and the allocation to bonds increases. Risk declines and income increases as the target date approaches. Once the target date has passed, they become income funds. Target date funds are composed of other funds from the same fund family—they are in essence funds of funds.

[For more on target date funds, see "Taking Aim at Your Retirement: A Look at Target Date Mutual Funds" by John Markese from the June 2009 AAII Journal.]

Bond Funds

Bond mutual funds are attractive to investors because they provide diversification and liquidity, which is not as readily attainable in direct bond investments.

Bond funds have portfolios with a wide range of average maturities. Many funds use their names to characterize their maturity structure. Generally, short term means that the portfolio has a weighted average maturity of less than three years. Intermediate implies an average maturity of three to 10 years, and long term is over 10 years. The longer the maturity, the greater the change in fund value when interest rates change. Longer-term bond funds are riskier than shorter-term funds, and they usually offer higher yields.

Taxable Bond Funds

Bond funds are principally categorized by the types of bonds they hold.

Government bond funds invest in the bonds of the U.S. government and its agencies, while mortgage funds invest primarily in mortgage-backed bonds. General bond funds invest in a mix of government and agency bonds, corporate bonds (investment grade), and mortgage-backed bonds. Government and general bond funds are further categorized by maturity: short-term, intermediate-term and long-term.

A special category of inflation-protected bond funds hold Treasury Inflation-Protected Securities (TIPS).

Corporate high-yield bond funds provide high income but invest generally in corporate bonds rated below investment grade, making them riskier.

Convertible bond funds invest primarily in preferred stocks and bonds that are convertible into common stocks. These securities exhibit characteristics of both stocks and bonds by offering yield and the possibility of capital appreciation.

Municipal and State-Specific Bond Funds

Tax-exempt municipal bond funds invest in bonds whose income is exempt from federal income tax. Some tax-exempt funds may invest in municipal bonds whose income is also exempt from the income tax of a specific state.

International Bond Funds

International bond funds allow mutual fund investors to hold a diversified portfolio of foreign corporate and government bonds. These foreign bonds often offer higher yields, but carry additional risks beyond those of domestic bonds. As with foreign common stocks, currency risk can be as significant as the potential default of foreign government bonds—a particular risk with the debt of emerging countries. International bond funds are categorized as general, emerging or currency.

Stock Fund Style Definitions

For domestic stock funds, one other element can be superimposed over stock size distinctions to better understand performance and risk in different market environments: the growth or value investment management style of the fund portfolio manager. In the Guide, style is indicated for domestic large-cap, mid-cap and small-cap funds after the fund name by a G for growth investing focus and a V for value investing focus. Funds with G and V follow both styles.

Growth Investing Focus

A small-cap growth fund will act differently than a small-cap value fund and a mid-cap growth fund is more likely to correlate with a small-cap growth fund than a mid-cap value fund. Portfolio managers of growth-managed funds seek out stocks that have either experienced rapid growth in sales or earnings or are expected to have rapid growth. Often these stocks have high price-earnings ratios (price per share divided by earnings per share) and are volatile when expectations for earnings or sales growth change even slightly. Few growth stocks pay any significant dividend, and they are often concentrated in industries such as technology, health, telecommunications and software.

Value Investing Focus

The value style of investment management emphasizes low price to earnings, low price to sales (price per share divided by sales per share), and higher dividend yields. The trade-off relative to growth stocks is that value stocks have a lower expected growth rate in earnings and sales, but also less risk. Value stocks are often concentrated in insurance, banking, and electric and gas utilities, for example.

For purposes of diversification and risk, it pays to keep in mind the growth/value investment style mix of your stock mutual funds.

Back to Introduction

Mutual Fund Contact Information

Family Fund Name Toll Free Phone Web Address
Adirondack Funds 888-686-2729 www.adirondackfunds.com
Advance Capital I 800-345-4783 www.acfunds.com
AdvisorOne Funds 866-811-0225 www.advisoronefunds.com
Aegis Value 800-528-3780 www.aegisvaluefund.com
Akre 877-862-9556 www.akrefund.com
Al Frank 888-263-6443 www.alfrank.com
AllianceBernstein 202-551-8090 www.bernstein.com
Alpine 888-785-5578 www.alpinefunds.com
American Beacon 800-658-5811 www.americanbeaconfunds.com
American Century Investments 800-345-2021 www.americancentury.com
Ameristock 800-394-5064 www.ameristock.com
AMF 800-527-3713 www.amffunds.com
Appleseed Fund 800-470-1029 www.appleseedfund.com
Appleton 866-993-7767 www.appletongroupfunds.com
AQR Funds 866-290-2688 www.aqrfunds.com
Arbitrage Fund 800-295-4485 www.thearbfund.com
Ariel Investments, LLC 800-292-7435 www.arielinvestments.com
Artio Global 800-387-6977 www.artiofunds.com
Artisan 800-344-1770 www.artisanfunds.com
Aston 800-992-8151 www.astonfunds.com
Auer 888-711-2837 www.auergrowthfund.com
Auxier Funds 877-328-9437 www.auxierasset.com
Ave Maria Mutual Funds 888-726-9331 www.avemariafunds.com
Baird 866-442-2473 www.bairdfunds.com
Baron Capital Group 800-442-3814 www.baronfunds.com
Beck, Mack & Oliver 800-943-6786 www.beckmack.com
Becker 800-551-3998 www.beckervaluefunds.com
Berwyn 800-992-6757 www.berwynfunds.com
Biondo Investment Advisor 800-672-9152 www.thebiondogroup.com
Bogle 877-264-5346 www.boglefunds.com
Boston Trust & Investment Mgmt Co. 800-282-8782 www.btim.com
Bragg Financial 800-595-3088 www.queensroadfunds.com
Brandywine 800-656-3017 www.brandywinefunds.com
Bridges 866-934-4700 www.bridgesinv.com
Bridgeway 800-661-3550 www.bridgeway.com
Bruce 800-872-7823 www.thebrucefund.com
Buffalo 800-492-8332 www.buffalofunds.com
Caldwell & Orkin 800-467-7903 www.caldwellorkin.com
Cambiar Funds 866-777-8227 www.cambiar.com
Capstone 800-262-6631 www.stewardmutualfunds.com
Causeway 866-947-7000 www.causewayfunds.com
Cavanal Hill funds 800-762-7085 www.cavanalhillfunds.com
Century Funds 800-303-1928 www.centuryfunds.com
CGM 800-343-5678 www.cgmfunds.com
Chase 888-861-7556 www.chaseinv.com
Chesapeake 800-430-3863 www.chesapeakefunds.com
Clipper Fund 800-432-2504 www.clipperfund.com
CM Advisors 888-859-5856 www.cmadvisorsfunds.com
Cohen & Steers 800-437-9912 www.cohenandsteers.com
Columbia 800-345-6611 www.columbiafunds.com
Commerce 800-995-6365 www.commercefunds.com
Commonwealth Intl Series Trust 888-345-1898 www.commonwealthfunds.com
Conestoga Capital Advisors 800-320-7790 www.conestogacapital.com
Copley 877-881-2751  
Country 800-245-2100 www.countryinvestment.com
CRM 800-276-2883 www.crmfunds.com
Croft 800-746-3322 www.croftfunds.com
Cullen Funds Trust 877-485-8586 www.cullenfunds.com
DF Dent Funds 866-233-3368 www.dfdent.com
Direxion Funds 800-851-0511 www.direxionfunds.com
Dodge & Cox 800-621-3979 www.dodgeandcox.com
Dreman 800-247-1014 www.dreman.com
Dreyfus 800-645-6561 www.dreyfus.com
Driehaus 800-560-6111 www.driehaus.com
Dupree 800-866-0614 www.dupree-funds.com
DWS Investments 800-728-3337 www.dws-investments.com
Edgewood 800-791-4226 www.edgewoodfunds.com
Elite 800-423-1068 www.elitefunds.com
Empire Builder 800-847-5886 www.empirebuilderfund.com.
Fairholme 866-202-2263 www.fairholmefunds.com
FAM 800-932-3271 www.famfunds.com
FBR Mutual Funds 888-888-0025 www.fbrfunds.com
Federated 800-341-7400 www.federatedinvestors.com
Fidelity Investments 800-544-6666 www.fidelity.com
First Eagle 800-334-2143 www.firsteaglefunds.com
Firsthand Funds 888-884-2675 www.firsthandfunds.com
Flex-funds 800-325-3539 www.flexfunds.com
FMI Funds 800-811-5311 www.fmifunds.com
Forester 800-388-0365 www.forestervalue.com
Forward Funds 800-999-6809 www.forwardfunds.com
FPA 800-982-4372 www.fpafunds.com
Franklin Templeton Investment Fds 800-632-2301 www.franklintempleton.com
Fund X 866-455-3863 www.upgraderfunds.com
Gabelli 800-422-3554 www.gabelli.com
GKM 888-456-9518 www.gkmadvisers.com
Glenmede 800-442-8299 www.glenmede.com
Green Century 800-221-5519 www.greencentury.com
Greenspring 800-366-3863 www.greenspringfund.com
GuideMark 888-278-5809 www.genworthwealth.com/mutualfunds/index.html
Guinness Atkinson 800-915-6566 www.gafunds.com
Harbor 800-422-1050 www.harborfunds.com
Harding Loevner 877-435-8105 http://www.hardingloevnerfunds.com
Hatteras Alternative Mutual Fds Trust 877-569-2382 www.hatterasmutualfunds.com
Haverford 866-301-7212 www.haverfordfunds.com
Heartland 800-432-7856 www.heartlandfunds.com
Hennessy 800-966-4354 www.hennessyfunds.com
Henssler Funds 800-936-3863 www.henssler.com
HighMark 800-433-6884 www.highmarkfunds.com
Hillman Capital Management 800-773-3863 www.hillmancapital.com
Hodges 866-811-0224 www.hodgesmutualfunds.com
Holland Capital 800-295-9779 www.hollandcap.com
Holland Series Trust 800-304-6552 www.thehollandfund.com
Homestead 800-258-3030 www.homesteadfunds.com
Hussman Investment Trust 800-487-7626 www.hussmanfunds.com
ICON Funds 800-764-0442 www.iconfunds.com
IMS 800-934-5550 www.imscapital.com
ING Funds 800-992-0180 www.ingfunds.com
Invesco 800-959-4246 www.invesco.com
Iron Funds 877-322-0575 www.ironfunds.com
James Advantage 800-995-2637 www.jamesfunds.com
Janus 800-525-0020 www.janus.com
Jensen 800-992-4144 www.jenseninvestment.com
John Hancock 800-225-5291 www.jhfunds.com
Jordan Funds 800-441-7013 www.jordanopportunity.com.
Kalmar Pooled Investment Trust 800-282-2319 www.kalmarinvestments.com
Kinetics 800-930-3828 www.kineticsfunds.com
Lazard 800-986-3455 www.lazardnet.com
Leavell 866-738-1125 www.leavellinvestments.com
Lee Financial Group Inc 800-354-9654 www.leehawaii.com
Leuthold 800-273-6886 www.leutholdfunds.com
Litman Gregory Masters Funds 800-960-0188 www.mastersfunds.com
LKCM 800-423-6369 www.lkcm.com
Longleaf Partners 800-445-9469 www.longleafpartners.com
Loomis Sayles Funds 800-633-3330 www.loomissayles.com
Madison Mosaic 800-336-3063 www.mosaicfunds.com
Mairs & Power 800-304-7404 www.mairsandpower.com
Managers Funds 800-548-4539 www.managersinvest.com
Manning & Napier 800-466-3863 www.manningnapieradvisors.com
Marshall 800-236-3863 www.marshallfunds.com
Marsico Investment Fund 888-860-8686 www.marsicofunds.com
Matrix/LMH 800-366-6223 www.matrixadvisorsvaluefund.com
Matthew 25 888-625-3863 www.matthew25fund.com
Matthews Asia Funds 800-789-2742 www.matthewsasia.com/
Merger 800-343-8959 www.mergerfund.com
Meridian 800-446-6662 www.meridianfund.com
Merk Funds 866-637-5386 www.merkfund.com
Metropolitan West Funds 800-241-4671 www.mwamllc.com
Midas 800-400-6432 www.midasfunds.com.
Monetta 800-241-9772 www.monetta.com
Motley Fool 888-863-8803 www.foolfunds.com
Muhlenkamp 800-860-3863 www.muhlenkamp.com
Needham 800-625-7071 www.needhamfunds.com
Neuberger Berman 800-877-9700 www.nb.com
New Century Portfolios 888-264-8578 www.newcenturyportfolios.com
New Covenant 877-835-4531 www.newcovenantfunds.com
Nicholas 800-544-6547 www.nicholasfunds.com
Nomura Partners Funds 800-535-2726 www.nomurapartnersfunds.com
Northeast Investors 855-755-6344 www.northeastinvest.com
Northeast Investors Trust 800-225-6704 www.northeastinvestors.com
Northern Funds 800-595-9111 www.northernfunds.com
Oak Associates 888-462-5386 www.oakfunds.com
Oakmark 800-625-6275 www.oakmark.com
Oberweis 800-245-7311 www.oberweisfunds.com
Old Mutual Investment Funds 888-772-2888 www.oldmutualcapital.com
Old Westbury 800-607-2200  
Olstein 800-799-2113 www.olsteinfunds.com
Osterweis 866-236-0050 www.osterweis.com
Paradigm Funds 800-239-0732 www.paradigm-funds.com
Parnassus 800-999-3505 www.parnassus.com
Pax World 800-372-7827 www.paxworld.com
Paydenfunds 800-572-9336 www.payden.com
Pear Tree Funds 800-326-2151 www.peartreefunds.com
Pearl 866-747-9030 www.pearlfunds.com
Pennant 877-299-8737 www.pennantmanagement.com/
Permanent Portfolio 800-531-5142 www.permanentportfoliofunds.com
Perritt 800-332-3133 www.perrittmutualfunds.com
PIA Mutual Funds 800-251-1970 www.piamutualfunds.com
PIMCO 800-927-4648 www.pimco-funds.com
Pinnacle 877-369-3705 www.pinnaclevaluefund.com
Polaris Funds 888-263-5594 www.polariscapital.com
Portfolio 21 866-209-1962 www.portfolio21.com
PRIMECAP Odyssey Funds 800-729-2307 www.odysseyfunds.com
ProFunds 888-776-3637 www.profunds.com
Rainier 800-248-6314 www.rainierfunds.com
RBC Global Asset Mgmt (U.S.) Inc. 800-422-2766 www.rbcgam.us
Reynolds 800-773-9665 www.reynoldsfunds.com
Robeco Investment Funds 888-261-4073 www.robecoinvest.com
Royce 800-221-4268 www.roycefunds.com
Rydex|SGI 800-820-0888 www.rydex-sgi.com
Satuit Capital Management Trust 866-972-8848 www.satuitcapital.com
Saturna 888-732-6262 www.saturna.com
Schneider Funds 888-520-3277 www.schneidercap.com
Schroder 800-464-3108 www.schroderfunds.com
Schwab Funds 800-407-0256 www.schwab.com
Schwartz 888-726-0753 www.schwartzvaluefund.com
Scout 800-996-2862 www.scoutfunds.com
Selected Funds 800-243-1575 www.selectedfunds.com
Sequoia 800-686-6884 www.sequoiafund.com
Shelton Capital Management 800-955-9988 www.sheltoncap.com
Sit 800-332-5580 www.sitfunds.com
Sound Mind 877-764-3863 www.smifund.com
Sound Shore 800-551-1980 www.soundshorefund.com
SouthernSunFunds 866-672-3863 www.SouthernSunFunds.com
State Street Global Advisors 800-647-7327 www.ssgafunds.com
Stonebridge 800-639-3935  
Stratton 800-472-4266 www.strattonmutualfunds.com
T. Rowe Price 800-638-5660 www.troweprice.com
TCW 800-248-4486 www.tcw.com
TFS Capital Funds 888-534-2001 www.tfscapital.com
Thomas White Funds 800-811-0535 www.thomaswhite.com
Thompson Plumb 800-999-0887 www.thompsonplumb.com
TIAA-CREF Mutual Funds 800-842-2252 www.tiaa-cref.org
Tilson Funds 888-484-5766 www.tilsonmutualfunds.com
Tocqueville 800-697-3863 www.tocquevillefunds.com
Torray 800-626-9769 www.torray.com
Transamerica 888-233-4339 www.transamericafunds.com
Turner Investment Partners 800-224-6312 www.turnerinvestments.com
Tweedy Browne 800-432-4789 www.tweedy.com
U.S. Global Investors 800-873-8637 www.usfunds.com
USA Mutuals 866-264-8783 www.usamutuals.com
USAA 800-531-8722 www.usaa.com
Value Line 800-243-2729 www.valueline.com
Vanguard 800-662-7447 www.vanguard.com
Victory 800-539-3863 www.victoryconnect.com
Villere 866-209-1129 www.villere.com
W.P. Stewart 888-881-8803 www.wpstewart.com
Walthausen Funds 888-925-8428 www.walthausenfunds.com
Wasatch 800-551-1700 www.wasatchfunds.com
Weitz 800-304-9745 www.weitzfunds.com
Wells Fargo Advantage 800-222-8222 www.wellsfargo.com/advantagefunds
WesMark 800-864-1013 www.wesmarkfunds.com
Westcore 800-392-2673 www.westcore.com
Westport Funds 888-593-7878 www.westportfunds.com
William Blair 800-635-2886 www.wmblair.com
Williamsburg Investment Trust 800-281-3217 www.davenportllc.com
Wilshire Mutual Funds 888-200-6796 www.wilfunds.com
Winslow Green Funds 888-314-9049 www.winslowgreen.com
Wintergreen Funds 888-468-6473 www.wintergreenfund.com
Wright 800-555-0644 www.wrightinvestors.com
Yacktman 800-457-6033 www.yacktman.com


Discussion

Mark from CA posted over 2 years ago:

The "Fund Downloads" files are linked to files from 2011, not 2012.


Dave from WA posted over 2 years ago:

Great wealth of data here. Will take some time to digest. One possible suggestion for the future - could you put the "ticker" sysmbol in its own column.

Thanks for all the work in putting this together!


Jean from IL posted over 2 years ago:

Thanks for your comments, Dave. Ticker symbols do appear in their own column in the Expanded Fund Listings downloadable spreadsheet. Jean from AAII


Mark from CA posted over 2 years ago:

When will the expanded spread sheet have the 2011 data incorporated for our use?


Charles from IL posted over 2 years ago:

Hi Mark, the issue with the spreadsheets has been resolved and they do include the 2011 figures. -Charles Rotblut, AAII


Anne from OH posted over 2 years ago:

I made a good faith effort to find the reference, but I could not find out what the heading "DFC" means. Any definition would be appreciated.


Jean from IL posted over 2 years ago:

DFC stands for difference from category. See the Field Definitions file in the Fund Downloads box for an explanation of all the column heads used in the expanded spreadsheet. Jean, AAII


William from AL posted over 2 years ago:

Will "hard copies" of the Mutual Fund Guide be mailed to members?


Charles from IL posted over 2 years ago:

William, yes. The February Journal, which contains the mutual fund guide, is in the mail. - Charles Rotblut, AAII


David from MN posted over 2 years ago:

You really do a diservice to your readers by automatically excluding funds with loads, especially in the section on most widely held funds. I feel like you are the government and you must watch out for me in case I make the wrong decision. There are some load funds that perform very well and some that don't, just like the vast category of funds that have no load. I wish you would reconsider your view on this.


Indigo from CA posted over 2 years ago:

The summary of these files is: over the last few years, and last year especially, bonds have outperformed stocks. People have been risk adverse, so have tended toward bonds or if in stocks at all, very "secure" categories like large cap, healthcare, and utilities. Gold has also done well.

The question really is, do we expect the next year or two to be just as scary as the last year or two? Personally, I think so. We are seeing a bullish environment right now, but with low participation. That to me creates an illusion of a bull market when really we still are in a bearish market. For buy-and-hold, I'd keep betting on the conservative investments for the next 1-2 years, though those who want to trade the market for short term gains are certainly making money so far this year and probably for a few more months.


Geri from CA posted over 2 years ago:

On page 30/31 of Feb 2012 AAII Journal I
see two numbers that don't make sense.

For MGIDX "% of portfolio in foreign issues" is -3.2%. How can this be a negative number?

For PGNDX "% of portfolio in top 10 holdings" is
124.2%. How can this be more than 100%?


Frank from MS posted over 2 years ago:

it's great if i was smart enough to comprehend.


Charles from IL posted over 2 years ago:

Hi Geri, if a fund is using leverage or is shorting certain assets, its holdings can be above 100% or be listed as a negative number. -Charles Rotblut, AAII


Thomas from NM posted over 2 years ago:

I would like to know if it is possible to order this guide in book form, and if so how? Thanks, Tom Savage


Jean from IL posted over 2 years ago:

Tom, this guide was sent to all members as the February issue of the AAII Journal. If you weren't a member then, contact AAII Member Services to order the issue 800-428-2244, members@aaii.com. Alternatively, you can print out the guide yourself from the PDF file linked toward the beginning of the article on this page on the left side. - Jean, AAII


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