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Risk/return data for AMG Chicago Equity Partners Balanced (MBEAX), Lipper flexible portfolio peer group, Vanguard Balanced Index (VBINX – 60/40 passive) and Vanguard STAR (VGSTX – 60/40 active).
Continue reading “AMG Chicago Equity Partners Balanced (MBEAX)”
Fairholme entered the Top category on MFO’s Fund Family Scorecard. All three Fairholme Funds have beaten their peer averages on an absolute return basis since inception. It joins other top performing families Dodge & Cox, FMI, Longleaf, Oakmark, Oberweis, Osterweis, Grandeur Peak, Gotham, Tweedy Brown, Artisan, Mairs and Powers, RiverNorth, PRIMECAP.
Continue reading “Fairholme, O’Shaughnessy, Waddell & Reed, Ivy, and Category Averages”
Three Dodge & Cox funds …
All on Honor Roll, which means they are top quintile in category the past 5, 3, and 1 year periods on an absolute return basis.
Continue reading “Dodge & Cox, Rookies, and Great Owls”
Dodge & Cox Balanced (DODBX) is back on the Honor Roll. The only D&C fund to do so.
Fairholme Fund (FAIRX) remains on the Three Alarm list … still in the dog house. As is Sequoia Fund (SEQUX).
Vanguard has 31 Great Owl funds! Can you believe that?! Fidelity has 23. T Rowe Price has 20.
Three perennial GOs remain GOs this month along with Honor Roll distinction: Vanguard Wellesley Income (VWINX), Vanguard Wellington Balanced (VWELX), and Vanguard PRIMECAP (VPMCX).
The past 12 months, they’ve each delivered top quintile excess returns. They are also among the highest AUM funds in their respective categories. So much for scale eating returns, in this case anyway … it’s been that kind of market. All these funds, more than 10% return! So much too for 1% real return predictions.
Continue reading “Surprise, Up 10% Plus Past Year”
GO distinctions are based on a fund’s relative risk-adjusted return within category. So, the category can perform badly, like commodities and EM have done last few years … indeed among the most hated funds, but individual funds can still get high marks.
BRCNX and JOEMX have both delivered top quintile performance the past 3 and 5 year periods in their respective categories.
Continue reading “Great Owl Ratings are Based on Relative Return in Category”
I continue to marvel at results of Fund Family Scorecard, which went live on the premium site last week.
How do poor performing fund management companies persist? Could be that absolute return is not a concern, that it’s all about risk adjusted return. Could be that some of the funds did well initially, then went south but investors are too stuck to change. Could be that these firms just have strong marketing and, my friend Ed offers, “write good newsletters.” Could be that they are just having a run of bad luck and stuck in an uncooperative and “irrational” market … but given enough time and a return to sanity, the Great Pumpkin will appear.
Continue reading “3 Bottom Fund Families Each with $1B AUM”
The March update comprises ratings on 9,296 US mutual funds and ETFs (27,307 all share classes), based on Lipper’s Data Feed Service.
Looking through some of our Pre-Defined Screens …
Continue reading “A Couple Pre-Defined Screens”
It was a tough month for equity funds.
Here’s quick summary table showing average fund total return for January, organized by SubType …
Continue reading “Tough January and Bruce Berkowitz”
It’s not as daft as you’d think.
We asked the good folks at Morningstar if they’d generate a list of all five-star funds from ten years ago, then update their star ratings from five years ago and today. I’d first seen this data several years ago when it had been requested by a Wall Street Journal reporter and shared with us. The common interpretation is “it’s not worth it, since five-star funds aren’t likely to remain five-star funds.”
Continue reading “Investing In Five-Star Funds?”