We started rating Money Market funds this month. If for no other reason then to help track asset flows. Using similar reasoning, we also now include funds that are just one month old.
Author Archives: Charles Boccadoro
MFO’s Fund Family Scorecard
MFO’s Fund Family Scorecard measures how well funds run by the same management company have performed against their peers since inception. We first published the card in June 2014 commentary with How Good Is Your Fund Family?, followed by updates in May 2015 and May 2016. Beginning in June 2016, our premium site updates …
Gotham Funds
Gotham now has 16 funds. Half just a few months old. Oldest just over four years. Average ER 2%. But 15 of 16 have beaten their peers since inception by an average of 5%.
Fund Category Leaders by AUM
Vanguard by far has largest number of funds leading their respective categories in assets under management, as seen in table below. At 44, that’s almost 30% of the 155 categories Lipper tracks.
Fairholme, O’Shaughnessy, Waddell & Reed, Ivy, and Category Averages
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.
Dodge & Cox, Rookies, and Great Owls
Three Dodge & Cox funds … Dodge & Cox Balanced Fund (DODBX) Dodge & Cox Global Stock Fund (DODWX) Dodge & Cox Income Fund (DODIX) 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.
DODBX, FAIRX, and Vanguard
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 …
Surprise, Up 10% Plus Past Year
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 …
Great Owl Ratings are Based on Relative Return in Category
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 …
Continue reading “Great Owl Ratings are Based on Relative Return in Category”
3 Bottom Fund Families Each with $1B AUM
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 …