All fund risk and return metrics, ratings, and analytics were uploaded to MFO Premium on Sunday 2 July, reflecting performance through June.
Concurrent with the new cycle, described in this month’s MFO piece “Strong June Propels New Bull Market,” we introduced additional Display Period options in MultiSearch. The new periods include those covering The Great Normalization (TGN) cycle (full, bear, and bull … still on-going) and another named “Since COVID.” The latter reflects performance since January 2020, when the world turned upside down with the onset of coronavirus (COVID). Things have not been the same since.
Below please find the top 10 US Equity funds based on return since that fateful January, along with comparison to the S&P 500 (SPY). Most are tech dominated funds, like Baron Partners (Tesla), TANAKA Growth (Apple), and Fidelity Growth (NVIDIA), which yielded extraordinary returns in the CV-19 bull circa 2021 and continue to yield well in the current TGN bull. (Click table to expand. The fund names in dark blue are MFO Great Owls. Those with Fund Alarm Rating of HR are MFO Honor Roll Funds.)
Next up, a closer look at current TGN cycle, 18 months young and still on-going. Consistent with its namesake, we find much more modest returns, so far at least, in spite of run up since last October. Below are its top 10 US Equity funds, again based on return. Impressively, Hennessy Cornerstone Mid Cap 30 (HFMDX) appears on both lists. Long time funds Aegis Value (AVALX), profiled by David in 2013, Auer Growth (AUERX), Muhlenkamp (MUHLX), Fidelity New Millennium (FMILX, and its new ETF sister FMIL) also made list. Of these, only Scott Barbee’s AVALX gets any love from Morningstar.
Examining just the bull period since October 2022, we find 436 US Equity funds of the 2452 available (excluding options funds), or about 1 in 6 have exceeded the SPY return of 25.5%.
Finally, please join us on Tuesday, 11 July for an MFO Premium Mid-Year Review webinar. Register here. The month-to-date results should post this later today (Sunday), in time for the review.
As always, if you see anything amiss or have suggestions for improvement, let us know and we will respond soonest.
