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Top Stock Funds Ranked by Risk-Adjusted Returns
Second Quarter 2014

One way to produce an easily understood marriage of risk and return for funds is to adjust the fund return for risk. Funds with high returns that have above-benchmark standard deviations will have their returns proportionally lowered, and funds with lower returns and below-benchmark standard deviations will have their returns adjusted upward proportionally.

The risk-adjusted fund table below lists the top funds by risk-adjusted arithmetic average returns. The benchmark used for return and risk is the Standard and Poor’s 500 index. The returns of all domestic stock funds were adjusted for risk and ranked.

The table reports the risk-adjusted average annual return—what the fund would have returned if it had the same risk as the market—and the average annual return for the three-year period that it did earn. Also reported is the fund’s standard deviation for comparison purposes and the market risk index. Benchmark statistics are reported at the bottom of the table.

Category Fund
Name
(Ticker)
Average
Annual
Risk-
Adjusted
Return*
(%)
Risk
Index
(1.00 = Market Risk)
Annual
Standard
Deviation*
(%)
Average
Annual
Return*
(%)
Stk-MC Akre Focus Ret (AKREX) 22.7 0.88 10.8 19.9
Stk-LC Parnassus Core Equity Inv (PRBLX) 20.3 0.86 10.5 17.4
Stk-LC Vanguard Hi Div Yld Idx Inv (VHDYX) 19.9 0.83 10.2 16.6
Stk-LC Vanguard Equity-Inc Inv (VEIPX) 19.2 0.86 10.6 16.6
Stk-LC Sequoia (SEQUX) 19.1 0.85 10.4 16.2
Stk-LC Copley (COPLX) 19 0.64 7.9 12.2
Stk-LC Weitz Value Inv (WVALX) 18.6 0.83 10.2 15.5
Stk-LC Hennessy Total Return Inv (HDOGX) 18.5 0.58 7.1 10.7
Stk-LC Vanguard Dividend Grth Inv (VDIGX) 18.3 0.81 10 14.9
Stk-LC AMG Yacktman Service (YACKX) 18.1 0.74 9.1 13.4
Stk-LC AMG Yacktman Focused Svc (YAFFX) 18.1 0.72 8.9 13.1
Stk-MC AmCent Veedot Inv (AMVIX) 18 0.93 11.5 16.8
Stk-LC Fidelity Strat Div & Inc (FSDIX) 17.9 0.73 8.9 13
Stk-LC Oakmark I (OAKMX) 17.5 1.07 13.1 18.7
Stk-SC Vulcan Value Partners Sm Cp (VVPSX) 17.5 1.1 13.5 19.3
Stk-MC AmCent Mid Cap Value Inv (ACMVX) 17.4 0.94 11.5 16.3
Stk-MC Nicholas (NICSX) 17.4 1.05 12.8 18.2
Stk-LC Fidelity New Millennium (FMILX) 17.1 1 12.3 17.2
Stk-LC PRIMECAP Odyssey Stk (POSKX) 17.1 0.92 11.3 15.8
Stk-LC Hennessy Cornerstone Val Inv (HFCVX) 17.1 0.84 10.2 14.3
Stk-LC AmCent Equity Inc Inv (TWEIX) 17 0.73 8.9 12.4
Stk-LC Fidelity Advisor Mega Cap Stk (FGRTX) 17 1.05 12.9 17.9
Stk-LC Fidelity Grth & Inc (FGRIX) 17 1.03 12.6 17.4
Stk-LC Matthew 25 (MXXVX) 16.9 1.35 16.6 22.9
Stk-LC Oakmark Select I (OAKLX) 16.7 1.16 14.3 19.4
Stk-LC Fidelity Lg Core Enhcd Idx (FLCEX) 16.7 0.99 12.1 16.4
Stk-LC AmCent Value Inv (TWVLX) 16.6 0.96 11.8 16
Stk-LC Vanguard FTSE Soc Idx Inv (VFTSX) 16.6 1.05 12.8 17.4
Stk-MC Vanguard Selected Value Inv (VASVX) 16.6 1.09 13.3 18
Stk-LC Fidelity Series 100 Idx (FOHIX) 16.5 0.96 11.8 15.8
Benchmarks
IDX S&P 500 16.2 1 12.3 16.2
IDX Russell 2000 10.9 1.38 17 15.1
*Over the past three years through June 30, 2014.