The Individual Investor`s Guide to The Top Mutual Funds

Transcription

The Individual Investor’s Guide to
The Top Mutual Funds 2010
By AAII Staff
Although exchange-traded
funds have stolen the limelight
of late, mutual funds have not
lost their relevancy to individual
investors.
Mutual funds offer a cost-effective
way to construct a diversified portfolio
across a wide range of asset types. Mutual
funds are liquid investments managed by
professionals. Investors can opt to select
funds that mirror index funds or actively
managed funds that require a manager to make specific
investment decisions.
Traditional open-ended mutual funds still have an important place in many investors’ portfolios, and the need
for quality information to judge and track these funds is
ongoing. Many Web sites now provide current and historical performance data on funds, but it’s rare to find a source
where you can easily compare similar funds on various
criteria. AAII’s annual “Individual Investor’s Guide to the
Top Mutual Funds” does just that in the following pages.
The 29th edition of the Guide to the Top Mutual Funds
covers over 700 no-load and low-load funds. The funds are
classified into useful categories of similar funds to make
comparison of fund alternatives more efficient and effective.
This will allow you to dedicate more time to evaluating the
better fund opportunities.
How to Use This Guide
Selecting a mutual fund, while less time-consuming than
4
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 Mutual Funds area of AAII.com
[see the inside front cover of this issue
for more on this].
Performance tables appear on pages 6 through 9. Table 1
summarizes the average performance and risk of fund categories and common index benchmarks. Table 2 lists the
50 best-performing funds of 2009, and Table 3 lists the
50 worst-performing funds of 2009. 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.
Starting on page 10, 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.”
(A description of the characteristics of each fund category
is included in the online version of this guide at www.aaii.
com/guides/mfguide.)
AAII Journal
Guide to the Top Mutual Funds
If you would like to request a copy
of a fund prospectus and annual report,
telephone numbers and Web addresses
of the fund families are provided on
pages 38 through 40. 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-ended 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 the state-specific municipal
bond category and some of the new
categories tracked in this Guide.
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, backend 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, if the
fund has a 12b-1 fee and what the charge
is per year. A 12b-1 fee of greater than
Guide to the Top Mutual Funds 2010
0.25% is considered to be high and
excluded the fund from the Guide.
Investors should carefully assess these
plans individually.
Funds that imposed a load that
exceeded 3% or increased an existing
load above 3% have been dropped from
the Guide.
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, are included in this Guide.
Unlike previous editions, funds closed
to new investors are now included. Such
funds are designated by the letter C to
the left of their name.
Funds Not Included
AAII members who would like
performance figures for no-load and
low-load mutual funds that do not
appear in this Guide can access this
information on our Web site at www.
aaii.com/guides/mfguide (covers 1,476
funds).
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 a stock index, such
as the S&P 500; the amounts invested
in each stock are proportional to the
firm’s representation in the index that
the fund tracks. Because index funds
are unmanaged, 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.
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.
(continued on page 36)
5
Table 1. Performance of Category Averages and Index Benchmarks
Category
Annual Total Return (%)
2009 2008
2007 2006
Stk-LC Large-Cap Stock
32.0 (38.6)
Stk-MC Mid-Cap Stock
36.0 (40.0)
Stk-SC Small-Cap Stock
36.1 (38.8)
LS
Long-Short
3.5 (12.4)
Contra Contra Market
(34.7) 30.7
Sec-E
Energy/Resources Sector 52.8 (53.5)
Sec-F
Financial/Banking Sector 22.8 (45.9)
Sec-G Gold Sector
59.1 (37.4)
Sec-H Health Sector
28.5 (26.0)
Sec-R
Real Estate Sector
35.8 (44.2)
Sec-T
Technology Sector
62.4 (46.3)
Sec-TC Telecommunications Sector 44.5 (44.2)
Sec-U
Utilities Sector
15.2 (32.9)
Sec-M Miscellaneous Sector
40.7 (37.5)
IntS-Glb Global Stock
33.9 (40.6)
IntS-F Foreign Stock
38.0 (45.9)
IntS-R/C Regional/Country Stock 56.5 (50.0)
IntS-E Emerging Stock
80.0 (59.5)
Bal
Balanced: Domestic
22.1 (23.4)
Bal-Glb Balanced: Global
24.6 (27.4)
TD2000 Target Date: 2000-2014 18.4 (19.3)
TD2015 Target Date: 2015-2029 25.7 (29.1)
TD2030 Target Date: 2030+
31.4 (36.0)
B-CHY Corp High-Yield Bond
39.6 (20.8)
B-Cnvt Convertible Bond
38.0 (29.3)
B-MB
Mortgage-Backed Bond
6.8
1.2
B-GvST Gov’t: Short-Term Bond
1.6
4.9
B-GvIT Gov’t: Interm-Term Bond 1.0
9.6
B-GvLT Gov’t: Long-Term Bond (18.0) 30.7
B-IP
Inflation-Protected Bond 11.0 (2.5)
B-GenST General Bond: Short
10.2 (5.6)
B-GenIT General Bond: Interm
13.4 (2.4)
B-GenLT General Bond: Long
15.5 (2.8)
B-MNST Muni Nat’l: Short-Term
4.5
1.3
B-MNIT Muni Nat’l: Interm-Term 11.0 (1.6)
B-MNLT Muni Nat’l: Long-Term
14.9 (5.4)
B-MHY Muni Nat’l: High-Yield
27.4 (20.5)
IntB-Gen Int’l Bond: General
12.4 (0.4)
IntB-E Int’l Bond: Emerging
32.1 (16.7)
IntB-C Int’l Bond: Currency
1.7 (3.9)
8.4
9.9
2.4
9.1
(5.6)
42.9
(10.1)
23.7
11.3
(13.2)
16.1
13.4
15.6
8.6
12.8
12.5
26.8
40.3
7.0
9.1
6.6
7.0
7.6
2.5
8.9
5.9
6.3
7.8
10.4
10.7
4.2
5.0
4.6
3.6
3.2
2.3
(1.0)
7.3
6.0
8.4
12.9
13.4
14.4
9.6
(8.1)
13.7
15.1
33.1
3.5
32.2
9.9
23.0
25.9
15.4
20.0
25.9
26.7
33.8
11.0
11.5
9.3
12.5
14.8
9.6
13.2
4.2
3.8
3.4
(0.3)
0.0
4.6
4.6
4.1
3.3
3.7
4.7
6.9
5.5
11.4
6.9
2005
Total
Return (%)
Bull
Bear
6.5
57.4 (50.7)
10.2
59.7 (51.3)
7.1
66.7 (53.3)
4.5
6.9 (14.7)
(2.4) (45.2) 72.1
41.0
72.8 (57.9)
6.7
67.9 (62.9)
33.3
61.6 (43.6)
14.2
44.0 (35.6)
12.2
96.8 (66.3)
6.0
76.3 (54.4)
6.8
59.7 (53.7)
12.8
34.6 (43.2)
5.9
74.9 (52.2)
13.1
57.4 (51.8)
18.3
67.5 (58.6)
28.2
89.4 (61.5)
34.7 112.5 (67.5)
5.6
35.0 (32.0)
7.0
40.6 (37.0)
4.5
28.0 (26.9)
6.4
42.3 (39.6)
7.9
53.6 (48.1)
2.2
37.0 (20.4)
4.9
45.7 (34.1)
2.4
6.5
3.4
1.6
1.8
6.5
2.1
2.6 10.7
8.5
(6.6) 20.0
2.3
12.1
0.0
2.0
10.0 (4.7)
2.1
14.2 (2.0)
1.5
18.7 (4.7)
1.6
2.9
3.6
1.9
7.3
2.5
3.4
9.8 (0.5)
5.5
18.8 (16.0)
(3.3) 17.8 (3.9)
12.8
34.6 (19.1)
—
6.5 (5.8)
Annual
Total Exp
Total Return (%)
Yield Risk Ratio
3-Yr
5-Yr 10-Yr (%) Index (%)
(4.7)
(4.1)
(5.6)
(1.0)
(10.2)
(0.9)
(16.7)
6.2
1.5
(13.8)
0.2
(3.6)
(3.8)
(2.9)
(4.0)
(5.9)
(2.4)
(1.0)
(0.2)
(0.6)
0.9
(1.6)
(3.3)
4.0
1.3
4.5
4.2
6.0
5.5
6.2
2.5
5.0
5.2
3.0
4.0
3.5
0.0
6.1
5.2
1.7
0.8
1.8
0.7
2.4
(6.3)
10.3
(7.6)
16.1
4.3
(1.2)
3.2
3.0
4.7
2.2
3.4
4.4
7.4
13.4
3.0
2.9
3.4
2.7
2.3
4.6
4.3
4.0
3.5
4.7
4.4
4.2
2.7
4.3
4.2
2.8
3.5
3.7
2.4
4.0
7.9
—
0.5
3.5
5.2
3.6
(2.9)
12.0
2.0
17.8
6.6
10.7
(6.8)
(1.0)
2.1
4.6
3.5
2.4
4.9
9.5
4.0
2.8
3.1
0.6
0.8
5.2
3.9
5.1
4.3
5.8
7.4
7.3
4.2
5.8
6.9
3.5
4.7
5.3
4.5
5.9
11.7
—
1.0
0.5
0.2
0.8
0.2
0.7
1.3
1.0
0.4
2.8
0.0
1.1
4.0
0.8
0.8
1.8
1.2
0.6
2.0
3.4
2.7
2.0
1.5
6.9
3.4
4.5
2.0
3.3
3.2
1.2
4.0
4.5
5.1
2.5
3.6
4.2
5.3
4.1
5.8
0.1
1.09
1.19
1.29
0.56
1.46
1.81
1.45
2.38
1.00
1.91
1.34
1.32
0.95
1.38
1.15
1.32
1.62
1.86
0.68
0.85
0.52
0.81
1.02
0.68
0.85
0.18
0.10
0.24
0.86
0.45
0.21
0.27
0.44
0.10
0.25
0.33
0.53
0.42
0.73
0.60
0.98
1.13
1.39
1.91
1.72
1.18
1.15
1.31
1.00
1.09
1.44
1.18
1.10
1.14
1.41
1.18
1.35
1.57
0.95
1.00
0.51
0.67
0.67
0.97
1.07
0.70
0.56
0.60
0.83
0.52
0.64
0.66
0.86
0.56
0.61
0.57
0.65
0.90
1.05
1.50
0.94
1.01
1.21
1.27
1.22
1.31
1.01
1.09
0.45
0.86
0.17
0.09
0.19
0.64
0.21
0.30
0.03
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
Index Benchmarks
6
DJ Industrial Average
22.7 (31.9) 8.9 19.1 1.7
S&P 500
26.5 (37.0) 5.5 15.8 4.9
S&P MidCap 400
37.5 (36.5) 7.7 10.0 12.3
S&P SmallCap 600
25.6 (31.1) (0.3) 15.1 7.7
MSCI EAFE
32.5 (43.1) 11.6 26.9 14.0
MSCI Europe
36.8 (46.1) 14.4 34.4 9.9
MSCI Far East
12.8 (32.3) 0.3 8.9 24.2
MSCI Pacific
24.3 (36.2) 5.6 12.5 23.0
ML US Corp Bond
19.8 (6.8) 4.7 4.4 2.0
ML High Yield Bond
56.3 (26.2) 2.2 11.6 2.8
BarCap GNMA
5.4
7.9
7.0 4.6 3.2
BarCap US Gov’t 1-3 Yr
1.4
6.7
7.1 4.1 1.7
BarCap US Gov’t Interm (0.3) 10.4
8.5 3.8 1.7
BarCap US Gov’t Long
(12.2) 22.7
9.7 2.1 6.6
BarCap US Bond Market
5.9
5.2
7.0 4.3 2.4
BarCap Municipal Bond 12.9 (2.5) 3.4 4.8 3.5
Treasury Bills
0.2
1.4
4.4 4.9 3.3
51.3
54.5
64.2
63.4
63.5
71.0
36.2
50.0
21.3
53.6
4.8
1.6
1.1
(3.2)
7.2
8.3
0.1
(47.1)
(50.9)
(49.5)
(51.3)
(56.3)
(58.9)
(47.0)
(50.6)
(7.2)
(26.2)
10.7
8.4
11.8
16.0
6.0
2.5
1.9
(3.1)
(5.6)
(2.0)
(4.8)
(5.6)
(5.5)
(8.5)
(5.7)
5.3
5.6
6.7
5.0
6.1
5.7
6.0
4.4
2.0
2.0 1.3 —
0.4 (1.0) —
3.1 6.1 —
1.4 6.4 —
4.0 1.6 —
4.5 2.4 —
0.7 (2.6) —
3.0 (0.3) —
4.5 6.6 —
6.2 6.8 —
5.6 6.3 —
4.2 4.7 —
4.7 5.7 —
5.2 7.7 —
5.0 6.3 —
4.3 5.8 —
2.8 2.7 —
AAII Journal
Closed
Table 2. Top 50 Performers for 2009
Category Fund (Ticker)
C
C
IntS-R/C
Sec-M
IntS-R/C
IntS-R/C
IntS-R/C
IntS-R/C
IntS-R/C
IntS-R/C
Sec-T
IntS-E
Sec-G
IntS-E
Sec-T
Sec-T
Stk-LC
Sec-TC
Sec-T
Sec-E
IntS-R/C
IntS-F
Sec-G
IntS-E
IntS-E
IntS-R/C
IntS-F
IntS-E
IntS-E
IntS-E
B-CHY
IntS-E
IntS-E
IntS-E
Sec-TC
Sec-E
Sec-T
IntS-F
Stk-MC
IntS-R/C
Sec-M
Stk-SC
B-Cnvt
Stk-MC
IntS-E
Sec-E
Stk-MC
Stk-LC
Stk-SC
Sec-G
Stk-LC
Stk-SC
2009
2008 2007 2006 2005
T. Rowe Price Em EurMedi (TREMX) 125.1 (75.9)
Fidelity Sel Automotive (FSAVX)
122.2 (61.3)
T. Rowe Price Latin Amer (PRLAX)
114.3 (55.8)
T. Rowe Price New Asia (PRASX)
102.7 (61.0)
Metzler/Payden EuroEmMkts (MPYMX) 101.3 (66.6)
Matthews India (MINDX)
97.2 (62.4)
Guinness Atkinson Chin&HK (ICHKX) 92.7 (54.5)
Fidelity Latin America (FLATX)
91.5 (54.7)
Fidelity Sel Technology (FSPTX)
90.2 (51.1)
Bernstein Emerging Mkts (SNEMX)
87.4 (56.6)
Tocqueville Gold (TGLDX)
86.5 (35.0)
T. Rowe Price Emg Mkt St (PRMSX)
85.0 (60.6)
Fidelity Sel Electronics (FSELX)
84.9 (49.9)
Fidelity Sel Computers (FDCPX)
83.1 (48.6)
Vanguard Capital Value (VCVLX)
81.4 (48.9)
Fidelity Sel Comm Equip (FSDCX)
80.6 (48.5)
T. Rowe Price Glob Tech (PRGTX)
80.2 (44.1)
Fidelity Sel Materials (FSDPX)
78.6 (47.6)
Matthews China (MCHFX)
78.3 (49.0)
Janus Overseas J (JAOSX)
78.1 (52.8)
Vanguard Prec Mtls Mining (VGPMX)
76.4 (56.1)
Fidelity Emerging Market (FEMKX)
76.0 (60.9)
Vanguard Em Mkt Idx (VEIEX)
75.9 (52.9)
Matthews Pacific Tiger (MAPTX)
75.3 (46.2)
Wasatch International Opp (WAIOX)
75.0 (54.8)
Northern Mlt-Mgr EmgMktEq (NMMEX) 75.0 —
USAA Emerging Markets (USEMX)
74.8 (51.7)
Northern Emerging Mkts Eq (NOEMX) 72.8 (53.1)
Fidelity Capital & Inc (FAGIX)
72.1 (31.9)
SSgA Emerg Markets Instl (SSEMX)
70.2 (56.4)
Driehaus Emerg Mkts Grth (DREGX)
70.0 (54.5)
Lazard Emrg Mkt Eq Open (LZOEX)
69.1 (48.1)
T. Rowe Price Med & Tele (PRMTX)
68.5 (46.5)
US Global Inv Glob Res (PSPFX)
68.2 (62.2)
T. Rowe Price SciTech (PRSCX)
67.8 (43.8)
Oakmark Intl Small Cap I (OAKEX)
67.4 (45.8)
Aston/Optimum Mid Cap N (CHTTX)
66.1 (42.9)
Fidelity China Region (FHKCX)
65.5 (44.9)
Fidelity Sel Chemicals (FSCHX)
65.3 (43.4)
Dreyfus Small Co Value (DSCVX)
64.3 (32.0)
Fidelity Convertible Sec (FCVSX)
64.1 (47.8)
Ariel (ARGFX)
63.4 (48.3)
Harding Loevner Emrg Mkt (HLEMX)
63.4 (52.4)
Guinness Atkinson Glbl Enrgy (GAGEX) 63.2 (48.6)
Ariel Appreciation (CAAPX)
62.9 (40.8)
Yacktman Focused (YAFFX)
62.7 (23.5)
Fidelity Small Cap Stock (FSLCX)
62.6 (43.0)
USAA Prec Metals&Min (USAGX)
62.4 (24.6)
Fidelity OTC (FOCPX)
62.2 (46.0)
Royce Opportunity Invt (RYPNX)
62.1 (45.8)
27.9
0.0
48.9
66.3
28.4
64.1
65.0
43.7
19.7
34.0
12.4
42.9
4.6
22.4
(7.7)
9.7
13.4
29.2
70.1
27.7
36.1
45.0
38.9
33.6
15.1
—
33.6
36.5
3.7
40.9
42.3
32.7
21.8
39.9
11.8
(8.4)
12.9
46.2
28.4
4.9
16.2
(1.7)
35.9
37.2
(1.4)
3.4
7.7
27.6
26.1
(2.0)
34.7
13.3
51.2
36.1
46.2
36.4
39.6
44.3
7.5
28.8
39.2
32.0
0.3
9.4
18.9
2.2
10.0
19.4
64.8
47.2
34.3
33.3
29.3
27.2
31.5
—
29.3
—
13.0
33.4
41.2
29.9
28.5
22.1
7.1
34.9
20.9
29.6
16.8
5.0
15.1
10.3
28.7
9.8
10.9
16.1
12.3
43.1
9.4
18.7
59.0
(1.8)
60.0
26.4
37.9
—
6.6
55.1
4.9
28.7
30.0
38.7
15.7
2.6
4.2
3.5
10.9
14.3
6.9
32.3
43.7
44.3
32.0
22.5
—
—
25.5
—
5.0
37.2
38.9
41.3
18.1
48.9
2.4
21.2
1.3
14.4
1.1
7.1
5.9
0.9
38.6
63.9
2.9
(1.9)
8.0
39.2
8.9
4.7
Total
Return (%)
Bull
Bear
Mrkt
Mrkt
167.2
213.8
133.1
128.7
164.3
140.6
121.0
103.8
103.3
112.4
74.8
117.0
98.2
94.4
118.1
94.1
93.9
96.7
98.0
91.5
102.7
103.7
104.0
108.3
102.8
102.2
100.3
99.6
71.5
95.9
94.9
97.1
83.8
77.0
76.9
99.2
96.6
83.9
78.7
87.4
78.9
120.3
90.9
83.5
100.2
97.4
98.0
63.0
75.4
109.5
(78.4)
(77.4)
(61.6)
(67.5)
(75.0)
(66.2)
(66.7)
(59.6)
(59.2)
(64.7)
(37.6)
(68.1)
(57.1)
(55.6)
(62.7)
(58.4)
(52.9)
(53.7)
(60.0)
(58.7)
(64.0)
(68.1)
(62.7)
(58.0)
(65.4)
—
(60.3)
(62.8)
(33.2)
(65.5)
(62.3)
(57.2)
(53.9)
(65.2)
(51.6)
(60.0)
(54.4)
(57.1)
(48.6)
(44.0)
(54.1)
(64.3)
(61.2)
(52.9)
(55.1)
(38.3)
(55.9)
(30.5)
(53.5)
(61.8)
Annual
Total Return (%)
3-Yr
5-Yr 10-Yr
(11.4) 8.3
(4.9) (0.9)
12.2 27.9
9.5 17.7
(4.7) 11.8
6.8 —
13.1 16.6
7.7 22.8
3.6 4.6
2.9 12.6
10.9 19.8
1.4 13.8
(1.0) 2.4
4.9 5.3
(5.0) 1.2
0.7 1.5
4.6 6.9
6.5 10.5
15.7 22.2
2.4 15.9
1.8 15.3
0.0 13.9
4.8 14.5
8.1 14.5
(3.1) —
—
—
4.1 12.9
3.4 —
6.7 7.6
1.5 13.9
3.3 16.7
5.2 16.4
3.2 10.7
(3.8) 10.1
1.8 2.9
(5.9) 6.3
2.3 5.6
10.1 14.6
6.3 7.2
5.4 5.7
(0.2) 3.9
(6.0) (1.6)
1.9 13.5
4.8 15.7
(1.7) 1.6
8.8 8.0
0.0 3.9
16.0 25.5
3.4 5.6
(4.9) 1.4
―
4.6
18.4
8.8
—
—
9.5
14.9
(5.4)
12.3
21.7
9.3
(4.9)
(4.9)
—
(6.7)
—
11.2
17.1
4.9
17.7
7.9
9.8
11.5
—
—
7.9
—
6.8
9.4
12.0
11.2
5.0
16.8
(8.6)
10.1
10.3
7.2
10.3
8.2
4.7
7.2
11.7
—
7.1
11.8
7.3
24.4
(1.9)
9.7
Total
Risk
Index
Exp
Ratio
(%)
2.26
2.61
1.92
1.98
2.13
2.16
1.91
1.83
1.58
1.70
2.17
1.88
1.53
1.45
1.56
1.63
1.40
1.56
1.74
1.62
2.10
1.81
1.69
1.63
1.54
1.48
1.61
1.66
0.92
1.70
1.58
1.57
1.39
1.87
1.36
1.48
1.41
1.61
1.38
1.36
1.38
1.73
1.59
1.74
1.45
1.22
1.45
2.40
1.32
1.68
1.98
1.15
1.22
0.96
1.48
1.29
1.53
1.07
0.90
1.51
1.44
1.24
0.89
0.92
0.52
0.95
1.32
0.90
1.23
0.90
0.39
1.16
0.39
1.12
2.25
1.50
1.79
0.76
0.75
1.23
1.77
1.54
0.90
1.51
1.00
1.41
1.16
1.12
0.91
1.38
0.78
1.07
1.64
1.31
1.19
1.25
0.96
1.31
1.13
1.23
7
Closed
Table 3. Bottom 50 Performers for 2009
Contra ProFunds UltraSh Emkt Inv (UVPIX) (77.2) 13.6 (61.4) —
Contra ProFunds UltraSh NSDQ-100 Inv (USPIX) (67.0) 80.7 (27.7) (8.0)
Contra ProFunds Short RealEst Inv (SRPIX) (51.9) (5.3) 23.7 (22.0)
Contra Rydex InvS&P500 2xStrgyH (RYTPX) (50.6) 66.1 (4.0)(17.5)
Contra Grizzly Short (GRZZX)
(47.2) 73.6
6.6 (12.2)
Contra ProFunds Shrt NSDQ-100 Iv (SOPIX) (40.6) 45.3 (11.7) (1.3)
Contra ProFunds Short Sm Cp Inv (SHPIX)
(33.0) 23.7
5.0 (11.7)
Contra ProFunds Bear Inv (BRPIX)
(28.0) 39.7
0.8 (7.2)
Contra Rydex Inv S&P 500 Str Inv (RYURX) (27.3) 40.9
1.2 (7.0)
Contra ProFunds Short OilGas Inv (SNPIX)
(25.9) 12.1 (23.9)(16.5)
B-GvLT Wasatch-Hoisington US Tr (WHOSX) (22.6) 37.7 10.0 (0.2)
B-GvLT AmCent Target 2025 Inv (BTTRX)
(22.3) 26.7
9.7 (1.4)
LS
James Market Neutral (JAMNX)
(17.8) (5.1) 6.6 (0.5)
IntB-C Rydex Str Dollr 2xStrH (RYSBX)
(16.3) 7.2 (10.9)(10.5)
Contra PIMCO StocksPLUS Sh D (PSSDX)
(14.4) 47.7
5.9 —
B-GvLT Fid Spt L/T Tr Bd Ix Inv (FLBIX)
(13.5) 24.1
9.5 1.7
B-GvLT Dreyfus US Try L/T (DRGBX)
(13.2) 21.5 10.3 1.2
B-GvLT Vanguard Long-Tm US Try (VUSTX)
(12.1) 22.5
9.2 1.7
B-GvLT T. Rowe Price US Try L/T (PRULX)
(10.9) 23.2
9.9 1.0
LS
Nakoma Absolute Return (NARFX)
(9.2) (4.4) 15.1 —
B-GvIT Fid Spt Int Tr Bd Ix Inv (FIBIX)
(5.1) 16.3 10.0 2.6
LS
Rydex/SGI Mgd Ftrs Str H (RYMFX)
(4.3) 8.5 —
—
LS
Caldwell & Orkin Mkt Opp (COAGX)
(3.4) (4.7) 33.0 7.4
B-GvIT Vanguard Int-Tm Treas (VFITX)
(1.7) 13.3
9.9 3.1
B-GvIT AmCent Target 2015 Inv (BTFTX)
(1.6) 12.7 10.0 2.0
B-GvIT T. Rowe Price US Try Int (PRTIX)
(1.4) 14.1
9.9 2.5
IntB-Gen Northern Global Fix Inc (NOIFX)
(0.3) 10.9
9.3 4.7
B-GvST Fid Spt S/T Tr Bd Ix Inv (FSBIX)
(0.2) 8.7
7.8 3.5
B-GvST AmCent Target 2010 Inv (BTTNX)
0.0 6.9
8.3 2.8
IntB-C Merk Asian Currency Inv (MEAFX)
0.5 —
—
—
B-GvIT Fidelity Interm Govt Inc (FSTGX)
0.8 10.0
7.8 3.6
B-GvST Northern Sh-Int US Govt (NSIUX)
0.9 7.5
5.4 3.9
B-GvIT Fidelity Government Inc (FGOVX)
1.2 11.0
7.8 3.5
B-GvST Vanguard Short-Tm Trs (VFISX)
1.4 6.6
7.8 3.7
B-MS-CA Schwab CATxFr YieldPlus (SWYCX)
1.7 (8.2) 1.2 3.3
B-GenLT Vanguard LongTm Bd Idx (VBLTX)
1.7 8.6
6.5 2.6
B-GvST AmCent S/T Gov Inv (TWUSX)
2.6 4.7
6.3 3.9
B-GvST Vanguard ShtTm Fed (VSGBX)
2.7 7.0
7.4 4.3
B-GvST Payden U.S. Government (PYUSX)
2.8 7.5
7.0 4.0
B-MNST Vanguard Sht-Tm TE (VWSTX)
3.0 3.7
4.1 3.2
B-GvIT AmCent Govt Bd Inv (CPTNX)
3.0 9.5
7.8 3.9
B-MNST Alpine UltrSh TaxOpt Inc (ATOIX)
3.2 3.5
4.1 4.0
IntB-C ProFunds Fall US Doll Inv (FDPIX)
3.2 (5.7) 11.5 10.0
B-MS-CA Bernstein Short Dur CA Muni (SDCMX) 3.5 3.0
3.5 2.7
B-GvIT WF Adv Govt Secs Inv (STVSX)
3.5 7.5
6.9 3.5
B-MS-NY Bernstein Short Dur NY Muni (SDNYX) 3.6 2.8
3.6 2.7
B-MS-MD T. Rowe Price MD S/T T/F (PRMDX)
3.7 3.3
3.7 2.8
B-GenST Vanguard Sh-Tm Bd Idx (VBISX)
4.2 5.4
7.2 4.0
B-GenIT Schwab Total Bd Mkt (SWLBX)
4.4 (4.5) 4.7 4.5
LS
Hussman Strategic Growth (HSGFX)
4.6 (9.1) 4.1 3.5
8
2009
2008 2007 2006 2005
—
(1.2)
—
(4.6)
(3.3)
1.2
(2.6)
(1.2)
(0.7)
—
10.4
14.6
7.9
—
—
—
5.6
6.6
5.4
—
—
—
(0.2)
2.3
4.9
1.5
(8.0)
—
1.3
—
1.4
0.6
2.4
1.7
1.7
5.3
1.6
1.8
1.0
1.6
2.4
2.1
—
1.1
2.1
1.5
0.8
1.3
2.6
5.7
Total
Return (%)
Bull
Bear
Mrkt
Mrkt
Annual
Total Return (%)
3-Yr
5-Yr 10-Yr
Total
Risk
Index
Exp
Ratio
(%)
(79.3) 36.4
(69.6)122.6
(63.9) 44.3
(64.6)156.3
(55.0)123.8
(43.8) 65.2
(45.5) 63.9
(39.5) 76.1
(39.2) 78.5
(33.8) 21.9
(9.5) 24.2
(7.8) 12.3
(14.5) (6.6)
(27.2) 24.6
(28.2) 90.2
(3.8) 16.3
(3.8) 14.6
(2.9) 15.5
(2.2) 17.2
(8.6) (3.2)
(1.0) 15.8
(4.6) 12.6
(2.9) (1.0)
1.3 14.0
2.1 12.9
1.0 15.6
7.5
5.1
0.8 10.2
0.6
9.1
2.0 —
1.7 11.9
1.6
8.8
2.6 12.5
1.5
9.1
0.8 (7.0)
10.4
2.2
2.4
6.7
2.6
9.5
2.9
9.8
2.1
5.6
3.3 12.3
2.6
5.0
11.7 (12.4)
2.5
4.7
4.3
9.0
2.7
4.5
2.3
5.7
4.4
7.4
6.9 (6.0)
2.2 (6.1)
(53.6) —
—
(24.4) (17.1)(16.9)
(17.4) —
—
(7.6) (9.1) —
(0.8) (3.7) —
(8.7) (5.3) —
(4.5) (5.6) —
0.5 (1.4) 0.2
1.2 (0.9) 0.9
(14.2) —
—
5.4 5.2 7.8
2.6 4.1 8.4
(6.0) (2.2) 1.8
(7.2) —
—
10.2 4.6 —
5.5 —
—
5.2 4.5 6.1
5.5 5.0 7.4
6.5 5.1 7.0
0.0 —
—
6.7 —
—
—
—
—
7.0 5.6 4.3
7.0 5.2 6.7
6.9 5.5 8.6
7.3 5.1 6.0
6.5 3.1 5.2
5.4 —
—
5.0 3.8 6.9
—
—
—
6.2 4.7 5.6
4.6 3.6 4.3
6.6 5.1 6.1
5.3 4.2 4.9
(1.8) (0.1) —
5.6 4.9 7.7
4.5 3.8 4.0
5.7 4.6 5.1
5.8 4.4 5.0
3.6 3.1 3.1
6.7 5.3 6.0
3.6 3.4 —
2.7 —
—
3.3 2.8 2.8
6.0 4.7 5.9
3.3 2.8 2.9
3.6 2.9 3.2
5.6 4.4 5.0
1.5 2.3 4.8
(0.3) 1.6 —
2.46
2.22
2.00
1.85
1.55
1.16
1.25
0.96
0.97
1.10
0.95
1.02
0.41
1.06
0.88
0.66
0.65
0.64
0.64
0.33
0.38
0.51
0.49
0.32
0.43
0.31
0.44
0.14
0.14
0.16
0.18
0.14
0.22
0.12
0.17
0.60
0.09
0.12
0.12
0.05
0.20
0.02
0.51
0.07
0.19
0.06
0.09
0.13
0.24
0.43
1.73
1.67
1.68
1.73
3.24
1.73
1.73
1.68
1.43
1.73
0.74
0.57
2.28
1.69
1.09
0.20
0.65
0.25
0.55
1.89
0.20
2.17
1.21
0.25
0.57
0.52
1.15
0.20
0.57
1.30
0.45
0.90
0.45
0.22
0.49
0.22
0.57
0.22
0.61
0.20
0.49
0.70
1.73
0.69
0.95
0.67
0.58
0.22
0.55
1.09
AAII Journal
Table 4. Performance of the 50 Most Widely Held Funds
Closed
Total
Assets
($ Mil)
2009
C
C
C
Stk-LC
Stk-LC
Stk-LC
Stk-LC
IntS-F
IntS-F
Bal
Stk-LC
IntS-F
Stk-MC
Stk-LC
Stk-LC
TD2015
B-GenIT
B-GenIT
Stk-LC
Bal
B-MB
Stk-LC
Bal
Stk-LC
Bal
Bal
Stk-LC
B-GenST
B-GenIT
TD2030
Stk-MC
B-IP
Bal
Sec-H
B-GenIT
B-CHY
IntS-F
TD2000
Stk-LC
Stk-LC
Stk-LC
TD2015
Stk-LC
TD2015
B-GenIT
B-GenIT
Stk-LC
Stk-LC
TD2015
Bal
IntS-F
TD2015
Stk-LC
58,004
57,153
48,313
39,986
36,758
32,049
28,290
28,159
26,044
24,672
22,610
22,005
20,182
19,555
19,240
19,056
18,108
17,777
17,737
16,792
16,556
15,609
15,468
15,231
14,722
14,490
14,111
13,862
12,946
12,684
11,755
11,443
11,342
11,309
11,252
11,208
11,107
11,082
10,949
10,811
10,405
10,383
9,641
9,358
9,197
8,881
8,784
8,598
8,560
8,547
28.7
29.2
26.4
31.2
47.4
31.7
22.2
41.1
36.7
39.0
41.1
27.0
28.8
5.9
16.0
34.4
28.0
5.2
43.2
26.6
29.5
19.8
28.3
25.6
14.0
13.5
30.5
45.4
10.8
24.8
20.9
19.7
72.1
41.6
24.8
39.0
44.9
26.3
24.8
21.9
21.2
6.4
12.3
43.2
42.5
30.0
33.0
30.0
25.6
37.2
Vanguard Tot Stk (VTSMX)
Fidelity Contrafund (FCNTX)
Vanguard 500 Idx Inv (VFINX)
Dodge & Cox Stock (DODGX)
Dodge & Cox Intl Stock (DODFX)
Fidelity Diversified Int (FDIVX)
Vanguard Wellington (VWELX)
Fidelity Growth Company (FDGRX)
Vanguard Total Intl Stk Idx (VGTSX)
Fidelity Low-Priced Stk (FLPSX)
Fidelity Magellan (FMAGX)
Vanguard Windsor II (VWNFX)
Fidelity Freedom 2020 (FFFDX)
Vanguard Total Bd Idx (VBMFX)
Dodge & Cox Income (DODIX)
Vanguard PRIMECAP (VPMCX)
Fidelity Balanced (FBALX)
Vanguard GNMA (VFIIX)
T. Rowe Price Gr Stk (PRGFX)
Fidelity Puritan (FPURX)
Fidelity Equity-Inc (FEQIX)
Oakmark Equity & Inc I (OAKBX)
Dodge & Cox Balanced (DODBX)
T. Rowe Price Eq Inc (PRFDX)
Vanguard Sht-Tm Inv-Grade (VFSTX)
PIMCO Total Ret D (PTTDX)
Fidelity Freedom 2030 (FFFEX)
T. Rowe Price Mid Gr (RPMGX)
Vanguard Infl-Prot Secs (VIPSX)
Vanguard STAR (VGSTX)
Vanguard Health Care (VGHCX)
Fidelity Total Bond (FTBFX)
Vanguard Intl Gr Inv (VWIGX)
Fidelity Freedom 2010 (FFFCX)
Fairholme (FAIRX)
Fidelity Blue Chip Grth (FBGRX)
T. Rowe Price Eq Idx 500 (PREIX)
Vanguard Target Rtmt 2025 (VTTVX)
Fidelity Disciplined Eq (FDEQX)
Vanguard Target Rtmt 2015 (VTXVX)
Fidelity U.S. Bond Index (FBIDX)
T. Rowe Price New Inc (PRCIX)
Janus Twenty J (JAVLX)
T. Rowe Price BlChpGr (TRBCX)
Fidelity Freedom 2025 (FFTWX)
T. Rowe Price Cap Apprec (PRWCX)
Fidelity Intl Disc (FIGRX)
Fidelity Freedom 2015 (FFVFX)
Janus (JANSX)
2008
2007 2006
(37.1)
(37.2)
(37.1)
(43.4)
(46.7)
(45.3)
(22.3)
(41.0)
(44.1)
(36.2)
(49.5)
(36.8)
(32.2)
5.0
(0.3)
(32.5)
(31.4)
7.2
(42.3)
(29.2)
(41.7)
(16.2)
(33.6)
(35.8)
(4.8)
4.4
(37.0)
(39.7)
(2.9)
(25.2)
(18.5)
(5.6)
(31.9)
(45.0)
(25.4)
(29.8)
(38.6)
(37.1)
(30.1)
(40.1)
(24.1)
3.7
1.4
(42.0)
(42.7)
(33.7)
(27.2)
(44.3)
(27.2)
(39.9)
5.4
19.7
5.3
0.1
11.7
16.0
8.3
19.8
15.5
3.1
18.8
2.2
8.5
6.9
4.6
11.4
8.9
7.0
10.3
6.1
1.4
11.9
1.7
3.3
5.8
8.7
9.2
17.6
11.5
6.5
4.4
4.1
3.7
15.9
7.4
12.3
11.8
5.1
7.5
10.8
7.5
5.3
6.3
35.9
13.0
8.6
4.5
18.9
7.8
15.2
15.5
11.5
15.6
18.5
28.0
22.5
14.9
9.5
26.6
17.7
7.2
18.2
11.6
4.2
5.3
12.3
11.6
4.3
14.0
14.7
19.8
10.8
13.8
19.1
4.9
3.6
12.9
6.7
0.4
11.6
10.8
5.1
13.0
25.9
9.4
16.7
5.5
15.4
13.2
14.5
11.4
4.3
4.1
12.3
9.7
11.8
14.5
24.2
10.3
10.5
2005
Total
Return (%)
Bull
Bear
Mrkt
Mrkt
5.9
16.2
4.7
9.3
16.7
17.2
6.8
13.5
15.5
8.6
6.4
7.0
7.7
2.4
1.9
8.4
10.6
3.3
6.5
4.6
5.7
8.6
6.5
4.2
2.2
2.5
8.8
14.8
2.5
7.4
15.4
2.4
5.0
15.0
5.9
13.7
4.0
4.6
5.4
10.2
4.9
2.2
2.8
9.4
5.9
8.1
6.8
18.5
7.0
3.9
56.6
47.7
54.5
67.8
87.8
60.6
38.1
58.1
71.7
63.6
65.1
58.5
46.0
7.1
16.9
57.0
42.4
4.8
55.2
40.4
65.1
31.6
52.1
62.2
12.3
13.8
52.0
62.1
11.5
40.7
41.2
18.6
71.5
71.7
37.7
75.2
66.8
54.4
46.0
46.3
37.9
7.1
12.4
56.0
56.5
48.6
48.1
59.5
39.2
54.6
(50.8)
(46.3)
(50.9)
(57.9)
(59.9)
(57.5)
(32.5)
(50.2)
(58.5)
(48.8)
(58.2)
(52.8)
(42.3)
6.0
(0.3)
(44.3)
(40.4)
10.0
(49.1)
(37.8)
(57.0)
(24.7)
(45.7)
(52.5)
(2.1)
7.0
(48.3)
(48.2)
0.1
(35.6)
(31.8)
(3.3)
(33.2)
(56.9)
(34.0)
(47.8)
(48.8)
(51.0)
(42.4)
(51.8)
(34.9)
4.8
3.1
(47.0)
(50.0)
(44.2)
(36.4)
(57.0)
(36.2)
(48.5)
Annual
Total
Total Return (%)
Risk
3-Yr 5-Yr 10-Yr Index
(5.1)
(1.0)
(5.7)
(9.4)
(4.3)
(5.8)
0.9
0.0
(4.1)
(2.9)
(5.4)
(6.4)
(1.8)
5.9
6.6
0.4
(1.4)
6.5
(3.0)
(1.6)
(8.5)
3.9
(4.7)
(5.9)
4.7
8.8
(3.5)
1.0
6.3
(0.2)
0.9
5.6
6.7
(3.3)
0.0
3.1
(0.2)
(5.8)
(2.1)
(6.8)
(0.4)
5.1
6.5
4.1
(2.6)
(2.2)
0.4
(4.9)
(0.5)
(1.7)
0.9
4.7
0.3
(0.7)
5.5
3.7
4.7
4.4
5.2
3.2
(0.7)
0.7
2.6
4.9
5.4
4.3
3.4
5.4
2.1
2.7
(0.6)
6.2
1.0
0.7
4.2
6.5
2.0
4.8
4.3
3.6
5.6
4.8
7.6
5.5
3.0
7.8
1.7
0.1
2.3
0.4
2.9
4.4
5.3
6.7
1.4
2.5
4.4
4.9
3.1
1.8
(0.3)
3.1
(1.1)
5.6
—
3.9
6.1
(0.9)
2.2
11.0
(2.3)
4.1
1.7
6.0
6.8
3.2
5.2
6.2
1.1
4.1
1.8
9.8
6.2
4.1
4.9
7.3
0.8
5.6
—
5.1
9.2
—
6.8
2.4
2.7
13.2
(2.2)
(1.2)
—
(0.2)
—
6.0
6.3
(2.5)
(0.4)
—
9.2
3.3
—
(3.7)
1.04
0.94
1.01
1.21
1.44
1.28
0.69
1.12
1.32
1.17
1.34
1.05
0.85
0.21
0.29
1.00
0.81
0.17
1.06
0.73
1.16
0.58
0.94
1.09
0.21
0.25
0.97
1.19
0.45
0.73
0.87
0.29
0.92
1.31
0.68
1.29
1.10
1.01
0.85
1.03
0.71
0.19
0.22
1.24
1.07
0.89
0.86
1.23
0.72
1.08
9
Closed
Index Fund
Domestic Stock Funds
C
I
I
I
C
I
10
Fund Name (Ticker)
Style
GrthVal 2009 2008 2007 2006 2005
Large-Cap Stock Category Average
Amana Trust Growth (AMAGX)
G
Amana Trust Income (AMANX) V
AmCent Equity Growth Inv (BEQGX) G V
AmCent Equity Income Inv (TWEIX) V
AmCent Growth Inv (TWCGX)
G
AmCent Inc & Growth Inv (BIGRX) V
AmCent Select Inv (TWCIX)
G
AmCent Ultra Inv (TWCUX)
G
American Beacon LgCVl Inv (AAGPX) V
Aston/Montag Growth N (MCGFX)
G
Brandywine Blue (BLUEX)
G
CGM Focus (CGMFX)
G
Dodge & Cox Stock (DODGX) V
Dreyfus Appreciation (DGAGX)
G V
Fairholme (FAIRX)
G V
Fidelity (FFIDX)
G V
Fidelity Blue Chip Grth (FBGRX)
G
Fidelity Capital Apprec (FDCAX)
G
Fidelity Contrafund (FCNTX)
G
Fidelity Disciplined Eq (FDEQX)
G V
Fidelity Dividend Growth (FDGFX)
G V
Fidelity Equity-Inc (FEQIX) V
Fidelity Equity-Inc II (FEQTX) V
Fidelity Exp & Multinatl (FEXPX)
G
Fidelity Focused Stock (FTQGX)
G
Fidelity Growth & Income (FGRIX)
G V
Fidelity Growth Company (FDGRX)
G
Fidelity Growth Discovery (FDSVX)
G
Fidelity Independence (FDFFX)
G
Fidelity Large Cap Value (FSLVX) V
Fidelity Magellan (FMAGX)
G
Fidelity OTC (FOCPX)
G
Fidelity Series 100 Index (FOHIX)
G V
Fidelity Spar 500 Inv (FSMKX)
G V
Fidelity Spar Tot Mkt Inv (FSTMX)
G V
Fidelity Strat Div&Inc (FSDIX)
G V
Fidelity Trend (FTRNX)
G
FMI Large Cap (FMIHX)
G V
Gabelli Equity Income AAA (GABEX) V
Homestead Value (HOVLX) V
Janus (JANSX)
G
Janus Growth & Income J (JAGIX)
G
Janus Research J (JAMRX)
G
Janus Twenty J (JAVLX)
G
Jensen J (JENSX)
G
Longleaf Partners (LLPFX)
G V
Mairs & Power Grth Inv (MPGFX)
G V
Manning & Napier Equity (EXEYX)
G V
Marsico 21st Century (MXXIX)
G
Marsico Focus (MFOCX)
G
Marsico Growth (MGRIX)
G
Nicholas (NICSX)
G V
Northern Stock Index (NOSIX)
G V
Oakmark I (OAKMX)
G V
Oakmark Select I (OAKLX)
G V
Parnassus Equity Inc Inv (PRBLX)
G V
Reynolds Blue Chip Grth (RBCGX)
G
32.0
32.4
23.5
20.0
12.2
35.4
17.9
34.7
35.3
27.1
29.8
9.2
10.4
31.2
21.0
39.0
26.7
44.9
36.3
29.2
21.9
51.0
29.5
25.1
37.0
25.2
23.0
41.1
29.3
39.8
15.6
41.1
62.2
22.1
26.5
28.3
37.7
44.4
29.6
29.1
26.9
37.2
38.6
43.0
43.2
28.9
53.5
22.5
39.5
28.0
30.4
29.3
34.2
26.2
44.7
52.4
28.7
41.8
(38.6) 8.4
(29.7) 12.2
(23.5) 14.1
(34.8) 3.4
(20.1) 1.7
(37.9) 18.9
(34.7) (0.3)
(39.7) 21.6
(41.8) 21.8
(39.6) 2.9
(32.7) 21.0
(43.9) 23.4
(48.2) 79.9
(43.4) 0.1
(32.4) 6.5
(29.8) 12.3
(40.4) 16.8
(38.6) 11.8
(40.5) 6.8
(37.2) 19.7
(40.1) 10.8
(43.0) 1.1
(41.7) 1.4
(40.4) 4.4
(43.4) 15.2
(33.1) 17.0
(50.9) 0.7
(41.0) 19.8
(46.8) 26.8
(48.1) 29.5
(39.8) 3.7
(49.5) 18.8
(46.0) 26.1
(35.5) ―
(37.1) 5.4
(37.2) 5.5
(41.2) 3.1
(44.5) 18.8
(27.0) 4.1
(35.0) 8.9
(36.5) 3.2
(39.9) 15.2
(42.5) 8.6
(44.4) 24.5
(42.0) 35.9
(29.0) 7.2
(50.6) (0.5)
(28.6) 4.9
(36.4) 3.7
(45.3) 19.3
(40.8) 12.9
(42.9) 14.2
(31.6) 1.6
(37.2) 5.2
(32.7) (3.7)
(36.3) (14.1)
(23.0) 14.1
(5.1) 8.2
12.9
15.4
21.2
14.1
19.4
7.9
17.1
(1.8)
(3.3)
18.7
8.0
10.8
14.9
18.5
16.2
16.7
13.6
5.5
13.8
11.5
14.5
14.6
19.8
13.7
8.4
5.1
10.7
9.5
13.9
12.2
17.1
7.2
9.4
―
15.7
15.7
13.9
13.1
16.6
19.2
17.8
10.5
7.8
8.6
12.3
14.0
21.6
10.2
20.5
18.6
8.6
6.5
9.3
15.5
18.2
13.6
14.7
1.3
6.5
20.2
12.1
7.3
2.4
4.8
4.7
0.8
2.1
9.6
5.3
8.3
25.2
9.3
4.1
13.7
7.5
4.0
5.8
16.2
10.2
3.5
5.7
4.6
15.2
18.2
2.7
13.5
2.1
10.5
11.2
6.4
8.9
―
4.8
6.4
9.7
7.4
9.1
6.3
10.9
3.9
12.4
6.8
9.4
(1.4)
3.6
4.3
10.5
7.8
9.6
6.7
5.6
4.6
(1.4)
4.8
2.6
(3.4)
Bull Market
Return (%)
Fund Cat +/-
57.4 0.0
43.4 (14.0)
40.6 (16.8)
47.7 (9.7)
30.4 (27.0)
52.2 (5.2)
48.3 (9.1)
52.4 (5.0)
54.3 (3.1)
61.5 4.1
48.4 (9.0)
24.4 (33.0)
38.1 (19.3)
67.8 10.4
46.0 (11.4)
75.2 17.8
51.7 (5.7)
66.8 9.4
63.2 5.8
47.7 (9.7)
46.3 (11.1)
82.5 25.1
65.1 7.7
61.4 4.0
57.4 0.0
47.2 (10.2)
53.7 (3.7)
58.1 0.7
49.8 (7.6)
66.4 9.0
50.9 (6.5)
65.1 7.7
75.4 18.0
50.4 (7.0)
54.6 (2.8)
56.2 (1.2)
67.1 9.7
63.2 5.8
56.3 (1.1)
57.1 (0.3)
59.7 2.3
54.6 (2.8)
54.8 (2.6)
65.8 8.4
56.0 (1.4)
52.9 (4.5)
70.3 12.9
54.0 (3.4)
62.2 4.8
60.6 3.2
51.2 (6.2)
53.1 (4.3)
55.7 (1.7)
54.3 (3.1)
78.2 20.8
82.6 25.2
51.4 (6.0)
42.2 (15.2)
Bear Market
3-Year
5-Year
Return (%)
Return (%)
Return (%)
Fund Cat +/- Fund Cat +/- Fund Cat +/-
(50.7) 0.0
(4.7) 0.0
(38.2) 12.5
1.4 6.1
(34.6) 16.1
2.5 7.2
(49.3) 1.4
(6.8) (2.1)
(34.3) 16.4
(3.0) 1.7
(45.4) 5.3
0.0 4.7
(51.5) (0.8) (8.5) (3.8)
(47.7) 3.0
(0.4) 4.3
(49.6) 1.1
(1.4) 3.3
(55.0) (4.3) (7.6) (2.9)
(42.3) 8.4
1.9 6.6
(51.4) (0.7) (8.9) (4.2)
(58.0) (7.3)
0.9 5.6
(57.9) (7.2) (9.4) (4.7)
(45.3) 5.4
(4.5) 0.2
(47.8) 2.9
3.1 7.8
(51.6) (0.9) (4.1) 0.6
(48.8) 1.9
(0.2) 4.5
(55.1) (4.4) (4.7) 0.0
(46.3) 4.4
(1.0) 3.7
(51.8) (1.1) (6.8) (2.1)
(56.0) (5.3) (4.5) 0.2
(57.0) (6.3) (8.5) (3.8)
(56.0) (5.3) (8.0) (3.3)
(53.5) (2.8) (3.7) 1.0
(45.7) 5.0
(0.7) 4.0
(63.1) (12.4) (15.3) (10.6)
(50.2) 0.5
0.0 4.7
(55.8) (5.1) (4.4) 0.3
(57.8) (7.1) (2.1) 2.6
(56.2) (5.5) (10.3) (5.6)
(58.2) (7.5) (5.4) (0.7)
(53.5) (2.8)
3.4 8.1
(50.1) 0.6
―
―
(50.9) (0.2) (5.7) (1.0)
(50.9) (0.2) (5.3) (0.6)
(54.7) (4.0) (5.9) (1.2)
(53.0) (2.3) (1.6) 3.1
(41.6) 9.1
(0.5) 4.2
(48.2) 2.5
(3.0) 1.7
(52.3) (1.6) (5.9) (1.2)
(48.5) 2.2
(1.7) 3.0
(52.1) (1.4) (4.7) 0.0
(53.5) (2.8) (0.4) 4.3
(47.0) 3.7
4.1 8.8
(41.1) 9.6
(0.6) 4.1
(59.8) (9.1) (9.0) (4.3)
(44.8) 5.9
(2.8) 1.9
(48.7) 2.0
(2.7) 2.0
(58.4) (7.7) (5.8) (1.1)
(51.6) (0.9) (4.5) 0.2
(54.4) (3.7) (5.5) (0.8)
(43.5) 7.2
(2.3) 2.4
(51.1) (0.4) (5.9) (1.2)
(49.4) 1.3
(2.1) 2.6
(53.7) (3.0) (5.8) (1.1)
(35.6) 15.1
4.2 8.9
(7.7) 43.0 13.4 18.1
0.8
7.7
7.9
(0.2)
2.2
2.5
(1.2)
(0.4)
(1.1)
0.5
3.8
(1.9)
8.2
(0.7)
1.0
7.8
1.5
1.7
0.8
4.7
0.4
0.6
(0.6)
(1.5)
2.2
4.0
(7.1)
4.4
0.3
3.1
(1.2)
(0.7)
5.6
―
0.3
0.9
0.9
2.9
4.6
3.0
1.7
1.8
1.0
2.8
6.7
2.0
(1.0)
1.1
4.2
1.3
0.7
(0.8)
1.5
0.1
1.8
(0.1)
5.9
7.4
0.0
6.9
7.1
(1.0)
1.4
1.7
(2.0)
(1.2)
(1.9)
(0.3)
3.0
(2.7)
7.4
(1.5)
0.2
7.0
0.7
0.9
0.0
3.9
(0.4)
(0.2)
(1.4)
(2.3)
1.4
3.2
(7.9)
3.6
(0.5)
2.3
(2.0)
(1.5)
4.8
―
(0.5)
0.1
0.1
2.1
3.8
2.2
0.9
1.0
0.2
2.0
5.9
1.2
(1.8)
0.3
3.4
0.5
(0.1)
(1.6)
0.7
(0.7)
1.0
(0.9)
5.1
6.6
AAII Journal
10-Year
Return (%)
Fund Cat +/-
0.5
0.0
2.6
2.1
5.8
5.3
(0.8) (1.3)
7.2
6.7
(2.3) (2.8)
(1.0) (1.5)
(2.8) (3.3)
(3.6) (4.1)
4.6
4.1
(1.0) (1.5)
0.0 (0.5)
17.8 17.3
5.6
5.1
0.1 (0.4)
13.2 12.7
(1.0) (1.5)
(2.2) (2.7)
0.4 (0.1)
3.1
2.6
(0.2) (0.7)
1.5
1.0
1.8
1.3
1.3
0.8
3.4
2.9
(1.6) (2.1)
(4.1) (4.6)
(0.9) (1.4)
(0.7) (1.2)
0.0 (0.5)
―
―
(2.3) (2.8)
(1.9) (2.4)
―
―
(1.1) (1.6)
(0.4) (0.9)
―
―
0.5
0.0
―
―
5.5
5.0
4.9
4.4
(3.7) (4.2)
(1.4) (1.9)
(4.3) (4.8)
(2.5) (3.0)
3.8
3.3
5.3
4.8
6.9
6.4
5.2
4.7
―
―
(1.9) (2.4)
(2.1) (2.6)
0.6
0.1
(1.4) (1.9)
5.6
5.1
6.9
6.4
6.6
6.1
(4.8) (5.3)
Yield
(%)
Tax-
Cost
Ratio
(%)
1.0
0.0
1.1
1.3
2.7
0.3
1.9
0.5
0.5
1.5
0.3
0.3
0.1
1.2
1.9
0.9
1.5
0.5
0.1
0.2
1.1
0.5
1.8
1.7
0.6
0.5
0.7
0.2
0.2
0.2
1.5
0.6
0.0
2.3
2.0
1.8
2.7
0.4
1.2
2.0
1.5
0.4
0.9
0.7
0.0
1.1
0.0
1.4
0.1
0.0
0.2
0.5
0.2
1.7
0.6
0.3
1.3
0.0
0.8
0.0
0.4
0.8
1.9
0.1
1.4
0.6
1.0
0.9
0.7
1.0
2.0
1.0
0.6
0.5
0.6
0.7
0.9
0.7
0.9
1.0
1.2
1.4
0.5
0.5
1.7
0.1
0.2
0.2
0.9
1.4
0.0
―
0.7
0.6
1.2
0.4
0.7
0.9
0.9
0.2
0.8
0.1
0.1
0.5
0.7
0.8
0.7
0.3
0.4
0.2
1.4
0.6
0.8
1.1
1.1
0.0
Risk
Index
Cat Total
1.00
0.75
0.65
0.89
0.63
0.91
0.92
0.96
0.94
1.01
0.89
0.94
1.51
1.11
0.81
1.19
0.97
1.00
1.07
0.86
0.94
1.19
1.07
1.03
1.05
0.92
1.11
1.03
1.04
1.31
1.01
1.22
1.21
0.91
0.93
0.95
1.07
1.06
0.84
0.92
1.00
0.99
1.02
1.15
1.13
0.81
1.32
0.94
1.01
1.14
0.99
1.02
0.96
0.93
1.09
1.19
0.81
0.53
1.09
0.82
0.71
0.97
0.69
0.99
1.01
1.05
1.03
1.11
0.97
1.03
1.65
1.21
0.88
1.29
1.06
1.10
1.17
0.94
1.03
1.30
1.16
1.12
1.14
1.00
1.21
1.12
1.13
1.43
1.10
1.34
1.32
0.99
1.01
1.04
1.17
1.16
0.92
1.00
1.10
1.08
1.11
1.25
1.24
0.88
1.44
1.03
1.11
1.24
1.08
1.11
1.05
1.01
1.19
1.29
0.88
0.57
Total
Assets
($ Mil)
2,341
1,533
1,039
1,529
3,671
3,808
1,415
1,708
5,842
4,127
1,451
2,328
3,642
39,986
2,323
11,208
5,068
11,107
5,139
57,153
10,811
7,657
16,556
5,290
2,794
128
6,244
28,159
721
3,955
968
22,610
5,482
5,926
6,697
5,389
458
817
2,404
1,200
494
8,547
3,728
2,997
9,358
1,697
7,870
1,937
1,140
897
2,069
1,123
1,432
1,383
3,393
2,394
2,360
60
Portfolio (%)
Stock Bond Other Cash
95
83
84
99
73
99
100
100
100
96
97
98
99
97
99
72
100
100
93
94
100
99
97
98
97
98
100
100
100
99
100
100
100
99
100
99
77
98
95
96
98
97
92
100
97
98
95
98
96
96
97
100
95
99
96
94
95
100
1
0
0
0
6
0
0
0
0
0
0
0
0
0
0
4
0
0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
0
0
3
0
0
0
0
0
2
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
20
0
0
0
0
0
0
0
0
1
0
2
0
0
0
0
0
1
2
1
2
0
0
0
0
0
0
0
0
0
0
0
19
0
0
1
0
0
2
0
0
0
0
0
0
1
0
1
1
0
0
0
0
0
4
17
16
0
1
1
0
0
0
4
3
2
1
1
1
22
1
0
7
5
0
0
1
1
1
2
0
0
0
1
0
0
0
1
0
1
1
2
5
3
2
3
5
0
3
2
5
2
4
4
3
(1)
4
0
5
6
5
0
% of Portfolio
% of
Port in Turnover Number Port in Expense Max 12b-1
Foreign
Ratio
of
Top 10 Ratio
Load Fee
Issues
(%) Holdings Holdings (%)
(%)
(%)
7.7
20.1
20.6
1.8
7.3
1.8
2.4
8.1
8.1
10.2
1.9
7.4
6.3
15.9
16.3
3.9
4.0
3.0
3.5
18.5
9.7
12.6
9.5
9.3
17.9
4.9
5.0
5.6
9.1
11.8
0.7
19.2
8.1
1.5
1.8
1.3
4.5
5.7
15.1
17.3
3.3
20.5
30.8
20.3
32.5
0.0
16.2
0.0
2.0
12.7
15.3
13.1
5.2
0.8
5.9
0.0
6.5
17.0
100
6
6
107
296
129
49
64
152
28
35
261
504
31
7
81
91
134
243
78
200
177
33
76
83
363
122
55
166
173
243
67
151
6
6
3
114
147
32
17
6
60
40
102
42
24
30
2
50
135
90
77
32
4
32
26
70
527
204
82
82
255
83
98
248
69
85
150
34
43
22
88
56
50
136
224
94
433
98
502
225
201
60
43
231
284
177
124
103
238
232
105
505
3,129
357
133
28
380
46
76
83
118
37
30
20
47
58
55
33
44
58
503
56
23
41
562
33.2
19.5
18.4
21.4
37.6
28.1
23.7
27.7
27.5
23.0
43.2
32.1
68.3
32.6
43.9
57.2
21.3
30.1
31.4
29.4
33.3
16.6
26.6
27.6
32.7
46.8
22.2
23.0
29.6
29.4
31.1
28.4
33.3
30.4
19.9
16.3
15.1
27.8
44.1
14.6
38.6
34.4
32.3
17.5
59.5
42.0
69.1
44.8
31.3
40.7
47.7
41.7
35.7
19.6
23.0
52.9
42.8
15.3
0.98 ― ―
1.31 2.00R 0.25
1.33 2.00R 0.25
0.70 ―
―
0.99 ―
―
1.00 ―
―
0.70 ―
―
1.00 ―
―
0.99 ―
―
0.97 ―
―
1.08 ―
0.25
1.13 ―
―
0.97 ―
―
0.52 ―
―
0.97 ―
―
1.02 2.00R ―
0.64 ―
―
0.76 ―
―
0.79 ―
―
0.95 ―
―
0.84 ―
―
0.62 ―
―
0.71 ―
―
0.67 ―
―
0.91 0.75R ―
1.09 ―
―
0.78 ―
―
0.97 ―
―
0.90 ―
―
0.91 ―
―
0.86 ―
―
0.71 ―
―
1.13 ―
―
0.20 ―
―
0.10 ―
―
0.10 0.50R ―
0.81 ―
―
0.83 ―
―
1.00 ―
―
1.43 2.00R 0.25
0.70 2.00R ―
0.88 ―
―
0.88 ―
―
1.06 ―
―
0.86 ―
―
0.96 ―
0.25
0.90 ―
―
0.70 ―
―
1.05 ―
―
1.31 2.00R 0.25
1.22 2.00R 0.25
1.25 2.00R 0.25
0.77 ―
―
0.25 ―
―
1.10 2.00R ―
1.08 2.00R ―
1.01 ―
―
2.00 ―
0.07
11
Closed
Index Fund
Fund Name (Ticker)
Style
GrthVal 2009 2008 2007 2006 2005
Bull Market
Return (%)
Fund Cat +/-
Bear Market
3-Year
5-Year
Return (%)
Return (%)
Return (%)
I
I
I
I
I
C
C
I
I
I
I
C
C
I
I
I
I
Rydex NSDQ-100 Inv (RYOCX)
G
Schwab 1000 In Inv (SNXFX)
G V
Schwab Core Equity Inv (SWANX)
G V
Schwab MarketTrack AllEq (SWEGX) G V
Sequoia (SEQUX)
G V
Sit Large Cap Growth (SNIGX)
G
Sound Shore (SSHFX) V
SSgA S&P 500 Index (SVSPX)
G V
Stratton Multi Cap (STRGX)
G V
T. Rowe Price BlChpGr (TRBCX)
G
T. Rowe Price Div Growth (PRDGX)
G V
T. Rowe Price Eq Idx 500 (PREIX)
G V
T. Rowe Price Eq Inc (PRFDX) V
T. Rowe Price Gr Stk (PRGFX)
G
T. Rowe Price Grth & Inc (PRGIX)
G V
T. Rowe Price Spect Grth (PRSGX)
G
T. Rowe Price Value (TRVLX) V
USAA Income Stock (USISX) V
Value Line Larger Co (VALLX)
G
Vanguard 500 Idx Inv (VFINX)
G V
Vanguard Cap Opp (VHCOX)
G
Vanguard Capital Value (VCVLX)
G V
Vanguard Div Apprec Inv (VDAIX)
G V
Vanguard Divers Eq Inv (VDEQX)
G V
Vanguard Dividend Growth (VDIGX)
G V
Vanguard Equity-Inc (VEIPX) V
Vanguard FTSE Soc Idx Inv (VFTSX) G
Vanguard Gr & Inc (VQNPX)
G V
Vanguard Gr Idx (VIGRX)
G
Vanguard Lg Cp Idx (VLACX)
G V
Vanguard Morgan Gr (VMRGX)
G
Vanguard PRIMECAP (VPMCX)
G
Vanguard PRIMECAP Core (VPCCX)
G
Vanguard Tot Stk (VTSMX)
G V
Vanguard Tx-Mgd Cap App (VMCAX) G V
Vanguard Tx-Mgd Gr&Inc (VTGIX)
G V
Vanguard U.S. Gr Inv (VWUSX)
G
Vanguard U.S. Value (VUVLX) V
Vanguard Val Idx (VIVAX) V
Vanguard Windsor (VWNDX) V
Vanguard Windsor II (VWNFX) V
Wasatch-1st Source Inc Eq (FMIEX) V
Yacktman (YACKX) V
Yacktman Focused (YAFFX) V
52.2
27.6
20.0
28.9
15.3
28.1
26.6
26.2
24.8
42.5
26.1
26.3
25.6
43.2
30.5
40.9
37.1
16.5
17.6
26.4
48.9
81.4
19.1
33.8
21.7
17.1
35.1
22.4
36.2
27.6
36.0
34.4
36.9
28.7
29.0
26.4
34.9
15.2
19.5
34.6
27.0
24.3
59.3
62.7
(41.9)
(37.3)
(33.3)
(38.1)
(27.1)
(34.1)
(35.6)
(37.1)
(38.4)
(42.7)
(33.3)
(37.1)
(35.8)
(42.3)
(36.6)
(41.6)
(39.8)
(35.7)
(38.2)
(37.1)
(39.1)
(48.9)
(26.6)
(39.5)
(25.6)
(31.0)
(42.4)
(37.8)
(38.4)
(37.1)
(41.5)
(32.5)
(31.4)
(37.1)
(37.7)
(37.1)
(37.9)
(34.8)
(36.0)
(41.1)
(36.8)
(31.2)
(26.1)
(23.5)
18.0
5.7
5.6
6.1
8.4
14.1
2.5
5.4
18.7
13.0
7.0
5.1
3.3
10.3
6.2
8.6
0.7
(3.4)
15.5
5.3
10.5
(7.7)
5.5
4.3
7.0
4.8
(2.4)
2.6
12.5
6.2
11.2
11.4
7.0
5.4
6.0
5.3
10.1
(0.8)
0.0
(3.3)
2.2
12.3
3.3
3.4
6.2
15.2
15.5
18.3
8.3
9.5
16.5
15.6
0.7
9.7
16.4
15.4
19.1
14.0
14.4
16.3
19.7
19.0
11.3
15.6
16.7
18.9
―
12.8
19.5
20.6
13.0
14.0
9.0
15.4
11.0
12.3
12.3
15.5
14.4
15.7
1.7
14.1
22.1
19.3
18.2
20.0
15.9
16.1
1.3
65.4 8.0 (50.3) 0.4
1.4 6.1
6.0
54.8 (2.6) (50.7) 0.0
(5.4) (0.7)
9.4
43.6 (13.8) (46.5) 4.2
(5.4) (0.7)
6.8
61.5 4.1
(53.3) (2.6) (5.4) (0.7)
7.7
36.9 (20.5) (40.7) 10.0
(3.0) 1.7
9.5
44.1 (13.3) (43.2) 7.5
(1.3) 3.4
6.8
47.5 (9.9) (47.5) 3.2
(5.8) (1.1)
4.7
54.2 (3.2) (50.9) (0.2) (5.8) (1.1)
14.4
46.0 (11.4) (47.8) 2.9
(3.0) 1.7
5.9
56.5 (0.9) (50.0) 0.7
(2.6) 2.1
3.3
48.2 (9.2) (45.2) 5.5
(3.4) 1.3
4.6
54.4 (3.0) (51.0) (0.3) (5.8) (1.1)
4.2
62.2 4.8
(52.5) (1.8) (5.9) (1.2)
6.5
55.2 (2.2) (49.1) 1.6
(3.0) 1.7
2.6
52.4 (5.0) (47.7) 3.0
(4.2) 0.5
9.4
65.5 8.1 (52.7) (2.0) (3.6) 1.1
6.3
68.9 11.5 (54.3) (3.6) (6.0) (1.3)
5.8
47.8 (9.6) (52.4) (1.7) (10.2) (5.5)
10.0
35.7 (21.7) (47.9) 2.8
(5.7) (1.0)
4.7
54.5 (2.9) (50.9) (0.2) (5.7) (1.0)
8.2
65.6 8.2 (49.2) 1.5
0.1 4.8
4.2 118.1 60.7 (62.7) (12.0) (5.0) (0.3)
―
44.5 (12.9) (41.0) 9.7
(2.7) 2.0
―
58.9 1.5
(52.2) (1.5) (5.5) (0.8)
4.2
42.5 (14.9) (37.9) 12.8
(1.1) 3.6
4.3
51.6 (5.8) (48.8) 1.9
(5.4) (0.7)
4.1
66.5 9.1 (56.5) (5.8) (8.8) (4.1)
5.8
50.1 (7.3) (51.9) (1.2) (7.9) (3.2)
5.0
54.1 (3.3) (47.1) 3.6
(1.9) 2.8
6.1
54.7 (2.7) (50.5) 0.2
(5.2) (0.5)
9.0
53.3 (4.1) (50.3) 0.4
(4.0) 0.7
8.4
57.0 (0.4) (44.3) 6.4
0.4 5.1
12.0
57.2 (0.2) (43.0) 7.7
0.2 4.9
5.9
56.6 (0.8) (50.8) (0.1) (5.1) (0.4)
7.4
55.4 (2.0) (50.7) 0.0
(5.2) (0.5)
4.8
54.5 (2.9) (50.9) (0.2) (5.7) (1.0)
11.1
52.7 (4.7) (47.2) 3.5
(2.6) 2.1
6.3
47.8 (9.6) (51.9) (1.2) (9.3) (4.6)
7.0
55.8 (1.6) (53.9) (3.2) (8.5) (3.8)
4.9
65.5 8.1 (56.0) (5.3) (8.5) (3.8)
7.0
58.5 1.1
(52.8) (2.1) (6.4) (1.7)
9.9
46.7 (10.7) (43.3) 7.4
(1.3) 3.4
(1.3) 95.4 38.0 (41.0) 9.7
6.7 11.4
(1.9) 97.4 40.0 (38.3) 12.4
8.8 13.5
2.3
0.6
1.3
1.4
1.2
2.9
0.8
0.2
1.0
1.4
1.6
0.1
0.7
2.1
0.6
2.6
1.1
(1.8)
0.6
0.3
4.8
1.2
―
―
3.8
1.3
(2.2)
(1.2)
1.6
0.9
1.4
4.3
4.8
0.9
0.9
0.3
0.9
(2.0)
0.0
(0.8)
0.7
4.8
6.8
8.0
1.5
(0.2)
0.5
0.6
0.4
2.1
0.0
(0.6)
0.2
0.6
0.8
(0.7)
(0.1)
1.3
(0.2)
1.8
0.3
(2.6)
(0.2)
(0.5)
4.0
0.4
―
―
3.0
0.5
(3.0)
(2.0)
0.8
0.1
0.6
3.5
4.0
0.1
0.1
(0.5)
0.1
(2.8)
(0.8)
(1.6)
(0.1)
4.0
6.0
7.2
C
C
Mid-Cap Stock Category Average
AmCent Heritage Inv (TWHIX)
G
AmCent Mid Cap Value Inv (ACMVX) V
AmCent Vista Inv (TWCVX)
G
Ariel (ARGFX)
G V
Ariel Appreciation (CAAPX)
G V
Artisan Mid Cap Inv (ARTMX)
G
Artisan Mid Cap Va Inv (ARTQX) V
Aston/Optimum Mid Cap N (CHTTX)
G V
Ave Maria Rising Dividend (AVEDX)
G V
Baron Asset (BARAX)
G
Baron Partners (BPTRX)
G
Brandywine (BRWIX)
G
36.0
36.8
30.2
21.8
63.4
62.9
50.2
39.2
66.1
25.2
31.7
28.2
8.6
(40.0)
(46.2)
(24.5)
(48.7)
(48.3)
(40.8)
(44.2)
(27.6)
(42.9)
(22.8)
(40.8)
(46.7)
(44.5)
9.9
45.7
(2.2)
38.7
(1.7)
(1.4)
21.2
1.6
12.9
(0.6)
10.1
11.3
21.8
13.4
17.0
20.4
9.0
10.3
10.9
9.6
14.2
20.9
17.8
14.6
21.5
11.0
10.2
22.2
9.9
8.8
0.9
2.9
9.1
15.4
1.3
―
12.4
14.3
14.3
1.8
8.9
4.9
0.5
(1.6)
1.6
4.0
6.2
5.6
―
2.0
1.1
(1.4)
0.0
7.1
3.1
(1.3)
(3.4)
(0.2)
2.2
4.4
3.8
―
0.2
(0.7)
(3.2)
12
59.7 0.0
54.2 (5.5)
58.6 (1.1)
35.3 (24.4)
120.3 60.6
100.2 40.5
65.9 6.2
64.5 4.8
96.6 36.9
51.5 (8.2)
59.5 (0.2)
58.6 (1.1)
21.1 (38.6)
(51.3) 0.0
(51.8) (0.5)
(41.6) 9.7
(54.7) (3.4)
(64.3) (13.0)
(55.1) (3.8)
(52.0) (0.7)
(41.5) 9.8
(54.4) (3.1)
(40.1) 11.2
(53.4) (2.1)
(60.7) (9.4)
(51.4) (0.1)
(4.1)
2.4
(1.3)
(4.7)
(6.0)
(1.7)
0.5
0.8
2.3
(1.3)
(5.0)
(8.7)
(9.8)
0.0
6.5
2.8
(0.6)
(1.9)
2.4
4.6
4.9
6.4
2.8
(0.9)
(4.6)
(5.7)
AAII Journal
Yield
(%)
Tax-
Cost
Ratio
(%)
(7.7) (8.2)
(0.7) (1.2)
(0.5) (1.0)
0.3 (0.2)
5.3
4.8
(3.4) (3.9)
4.7
4.2
(1.1) (1.6)
6.9
6.4
(0.4) (0.9)
2.7
2.2
(1.2) (1.7)
4.1
3.6
1.1
0.6
1.7
1.2
2.6
2.1
4.5
4.0
1.0
0.5
(3.2) (3.7)
(1.1) (1.6)
5.8
5.3
―
―
―
―
―
―
2.4
1.9
3.5
3.0
―
―
(1.5) (2.0)
(2.8) (3.3)
―
―
(0.9) (1.4)
3.2
2.7
―
―
(0.3) (0.8)
(1.1) (1.6)
(1.0) (1.5)
(6.9) (7.4)
―
―
1.2
0.7
3.5
3.0
4.1
3.6
7.5
7.0
11.9 11.4
11.8 11.3
0.0
1.8
1.0
1.4
0.0
0.6
0.8
1.9
0.6
0.1
1.5
1.7
1.9
0.2
1.1
1.0
1.5
1.7
0.7
2.1
0.3
0.4
2.0
1.1
2.2
3.1
1.0
1.7
1.0
2.0
0.7
0.8
0.8
1.9
1.5
2.0
0.5
2.0
2.7
1.8
2.3
1.4
0.7
0.3
0.0
0.6
0.4
0.8
1.2
0.2
1.1
0.6
0.8
0.1
0.9
0.6
1.3
0.3
1.1
1.0
0.8
1.6
2.7
0.3
0.8
1.0
―
―
0.3
1.0
0.2
0.7
0.1
0.6
0.5
0.8
0.2
0.3
0.2
0.3
0.1
1.2
0.4
1.2
0.9
1.2
1.4
1.4
1.10
0.93
0.85
1.03
0.86
0.81
0.92
0.92
1.03
0.98
0.86
0.92
1.00
0.97
0.90
1.04
1.08
0.92
0.85
0.93
1.07
1.43
0.78
0.98
0.74
0.87
1.11
0.95
0.92
0.93
0.96
0.92
0.90
0.95
0.95
0.93
0.89
0.95
0.98
1.05
0.96
0.85
1.07
1.12
1.20
1.02
0.93
1.13
0.94
0.89
1.01
1.01
1.13
1.07
0.93
1.01
1.09
1.06
0.98
1.14
1.18
1.01
0.93
1.01
1.17
1.56
0.85
1.07
0.81
0.95
1.21
1.04
1.00
1.01
1.05
1.00
0.98
1.04
1.04
1.01
0.97
1.04
1.07
1.15
1.05
0.92
1.17
1.22
546
4,542
1,877
485
2,841
446
2,117
1,337
73
9,197
972
11,082
15,231
17,737
1,024
2,839
8,227
1,348
203
48,313
4,184
817
590
1,305
2,761
2,519
326
3,270
5,771
448
5,534
19,056
4,637
58,004
560
479
3,189
506
3,357
8,128
22,005
1,524
1,390
666
94
100
98
99
79
98
95
98
100
100
95
98
95
100
100
97
95
98
97
100
95
100
100
97
98
97
100
98
100
100
97
98
93
99
100
100
97
96
100
97
97
94
82
84
0
0
0
0
0
0
0
0
0
0
1
0
1
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
1
0
0
0
0
1
1
0
0
0
0
0
0
0
0
0
0
0
0
1
0
0
1
2
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3
1
6
0
2
1
21
2
5
2
0
1
4
2
4
0
0
2
1
2
3
0
5
0
0
3
2
3
0
2
0
0
3
3
7
1
0
0
3
4
0
2
3
6
14
14
7.0
0.6
0.2
30.2
10.5
5.2
9.0
0.0
5.0
3.0
7.8
0.2
5.6
6.8
8.9
24.6
7.2
0.1
14.5
0.2
13.2
23.5
0.0
7.7
10.8
6.6
2.0
0.0
0.8
0.9
6.8
11.8
16.5
0.9
0.2
0.2
8.8
0.2
1.0
14.3
9.6
8.7
0.0
2.0
55
4
35
10
12
28
111
8
70
54
23
7
32
56
20
15
20
85
157
6
12
300
34
5
28
51
30
83
27
9
87
4
5
5
8
8
101
74
27
61
41
16
33
67
105
993
200
4
27
95
46
504
41
132
117
503
123
95
99
11
134
473
101
506
110
75
187
9
49
167
301
141
429
758
344
114
142
3,387
615
503
87
520
443
169
261
78
54
45
45.5
17.6
29.6
100.0
61.0
23.0
29.9
20.1
36.8
30.3
18.9
19.5
24.8
32.5
19.9
97.1
17.1
26.9
11.5
19.6
34.6
32.8
38.0
100.0
26.9
30.2
30.1
25.0
26.0
17.9
23.2
32.5
29.9
15.9
17.4
19.7
38.6
27.3
29.1
20.8
27.8
16.9
53.1
62.8
1.30
0.29
0.75
0.64
1.00
1.00
0.92
0.18
1.07
0.80
0.73
0.35
0.71
0.73
0.73
0.82
0.90
0.89
0.93
0.18
0.52
0.52
0.35
0.37
0.38
0.37
0.29
0.37
0.28
0.26
0.46
0.50
0.55
0.18
0.21
0.21
0.49
0.46
0.26
0.37
0.39
1.16
0.95
1.25
―
2.00R
2.00R
2.00R
―
2.00R
―
―
1.50R
―
―
0.50R
―
―
―
―
―
―
―
―
1.00R
―
―
―
―
―
―
―
―
―
―
1.00R
1.00R
―
1.00R
1.00R
―
―
―
―
―
2.00R
2.00R
2.00R
―
―
―
―
―
―
―
0.08
―
―
―
―
―
―
―
―
―
―
0.25
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
3.5
3.9
―
(0.4)
7.2
7.1
5.5
―
10.3
―
2.6
―
(0.8)
0.5
0.0
1.5
0.0
0.0
0.1
0.0
0.4
0.2
1.2
0.0
0.0
0.0
0.8
0.4
1.9
0.4
0.9
1.2
1.1
1.2
0.7
―
0.7
0.6
0.6
1.00
1.05
0.85
1.00
1.44
1.21
1.06
1.02
1.17
0.81
0.98
1.13
0.90
1.19
1.26
1.02
1.20
1.73
1.45
1.27
1.22
1.41
0.96
1.18
1.36
1.08
1,330
1,492
385
1,842
1,898
1,401
3,678
4,922
1,022
103
2,533
1,232
2,121
95
100
98
100
99
98
96
93
98
87
95
110
99
0
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
1
2
0
5
1
2
1
1
2
4
7
2
13
4
(13)
1
6.8
7.4
4.3
9.2
1.8
4.1
5.8
0.0
8.6
1.5
2.7
3.7
6.5
98
172
173
167
45
44
68
54
23
39
15
38
239
219
115
116
106
33
38
91
61
42
44
72
38
92
25.9
17.6
23.5
21.0
42.1
39.6
28.3
24.0
36.1
36.4
29.0
56.2
31.5
1.13
1.01
1.01
1.00
1.07
1.19
1.24
1.21
1.16
1.16
1.33
1.35
1.08
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
0.25
0.25
―
―
0.25
―
0.25
0.25
―
10-Year
Return (%)
Fund Cat +/-
0.0
0.4
―
(3.9)
3.7
3.6
2.0
―
6.8
―
(0.9)
―
(4.3)
Risk
Index
Cat Total
Total
Assets
($ Mil)
Portfolio (%)
% of Portfolio
% of
Foreign
Ratio
of
Top 10 Ratio
Load Fee
Issues
(%)
(%)
13
Closed
Index Fund
Fund Name (Ticker)
Style
GrthVal 2009 2008 2007 2006 2005
C
I
I
I
C
C
I
I
I
I
I
Buffalo Mid Cap (BUFMX)
G
CRM Mid Cap Value Inv (CRMMX)
G V
CRM Small/Mid Cap Val Inv (CRMAX) G V
Delafield (DEFIX)
V
Dreyfus MidCap Index (PESPX)
G V
DWS Dreman MdCapVal S (MIDTX) V
FAM Value Inv (FAMVX)
G V
Federated Mid-Cap Index (FMDCX)
G V
Fidelity Growth Str (FDEGX)
G
Fidelity Leverage Co Stk (FLVCX)
G V
Fidelity Low-Priced Stk (FLPSX)
G V
Fidelity Mid Cap Growth (FSMGX)
G
Fidelity Mid Cap Value (FSMVX) V
Fidelity Mid-Cap Stock (FMCSX)
G
Fidelity New Millennium (FMILX)
G
Fidelity Spar Ext Mkt Inv (FSEMX)
G V
Fidelity Value (FDVLX) V
Fidelity Value Strategies (FSLSX)
G V
FMI Common Stock (FMIMX)
G V
Gabelli ABC (GABCX)
G V
Gabelli Asset AAA (GABAX)
G V
Heartland Select Value (HRSVX) V
Hennessy Focus 30 (HFTFX)
G V
Janus Enterprise (JAENX)
G
Janus Orion J (JORNX)
G
Lazard US MidCapEq Open (LZMOX) V
Madison Mosaic Mid-Cap (GTSGX)
G
Marshall Mid-Cap Val Inv (MRVEX) V
Meridian Growth (MERDX)
G
Meridian Value (MVALX)
G V
NB Mid Cp Grw Inv (NMANX)
G
Nicholas II I (NCTWX)
G
Northern MultiMgr Mid Cap (NMMCX) G V
Osterweis (OSTFX)
G V
Perkins Mid Cap Value J (JMCVX) V
PRIMECAP Odyssey Agg Gr (POAGX) G
Rainier Mid Cap Equity (RIMMX)
G
Rainier Sm/Mid Cap (RIMSX)
G
Royce Premier Invt (RYPRX)
G V
T. Rowe Price Ext MktIdx (PEXMX)
G V
T. Rowe Price Mid Gr (RPMGX)
G
T. Rowe Price Mid Val (TRMCX) V
TIAA-CREF MdCpVlRet (TCMVX) V
Value Line Premier Growth (VALSX)
G
Vanguard ExtMktIdx (VEXMX)
G V
Vanguard MdCp Gr Idx Inv (VMGIX)
G
Vanguard MdCp Val Idx Inv (VMVIX) V
Vanguard Mid Cap Growth (VMGRX)
G
Vanguard Mid Cap Idx (VIMSX)
G V
Vanguard Selected Value (VASVX) V
Vanguard Strategic Eq (VSEQX)
G V
WF Adv Mid Cap Disc Inv (SMCDX) V
WF Adv Opportunity Inv (SOPFX)
G V
48.7
28.4
27.0
54.8
37.0
38.9
22.1
36.9
39.6
59.5
39.0
46.4
35.4
50.3
40.2
36.6
44.0
59.1
33.8
6.0
30.5
38.6
24.6
42.9
54.7
38.2
24.5
36.6
36.1
21.3
29.1
29.0
39.6
31.1
30.3
50.4
33.3
29.8
33.2
36.6
45.4
46.6
37.2
32.2
37.4
42.5
37.6
38.4
40.2
36.2
32.0
31.8
47.1
(39.5)
(35.2)
(31.5)
(37.6)
(36.5)
(39.8)
(28.7)
(36.4)
(49.3)
(54.6)
(36.2)
(49.3)
(40.6)
(46.0)
(40.3)
(38.5)
(46.6)
(51.2)
(20.5)
(2.7)
(37.3)
(31.3)
(33.1)
(43.2)
(49.8)
(38.6)
(36.7)
(37.2)
(30.4)
(32.0)
(41.0)
(30.8)
(38.9)
(29.3)
(27.4)
(34.6)
(46.6)
(48.8)
(28.3)
(38.5)
(39.7)
(34.6)
(40.7)
(40.2)
(38.8)
(47.1)
(36.7)
(39.6)
(41.9)
(35.5)
(41.6)
(30.1)
(40.4)
9.9
10.2
8.1
4.8
7.5
5.7
(0.8)
7.5
18.7
17.9
3.1
2.4
2.6
8.2
16.4
5.3
2.2
5.6
(2.0)
7.1
11.8
4.0
6.6
21.8
32.3
(3.2)
8.6
0.7
5.4
7.7
21.5
6.4
7.0
4.6
7.4
(0.2)
27.1
21.4
12.7
4.0
17.6
0.6
6.2
18.3
4.3
17.3
(4.4)
14.6
6.0
(0.3)
(1.9)
(4.9)
4.9
5.6
16.9
19.1
20.3
9.8
18.2
8.7
9.8
8.9
17.5
17.7
7.9
14.5
14.7
13.5
15.3
15.0
16.0
17.1
11.9
21.8
16.6
11.9
13.2
18.6
14.5
16.3
13.8
15.8
18.6
14.5
8.2
―
11.3
15.2
21.5
21.4
14.6
8.8
15.7
6.7
20.2
19.9
10.6
14.2
―
―
12.7
13.6
19.1
13.4
18.2
11.7
13.8
7.7
6.4
6.0
12.0
―
5.5
12.0
7.2
17.4
8.6
13.5
13.6
16.0
10.1
10.0
14.2
2.7
9.4
4.9
4.4
13.4
32.7
11.4
20.9
8.5
0.5
7.1
0.3
2.9
13.3
5.9
―
9.0
10.3
7.9
―
17.5
17.0
9.9
14.8
7.7
11.5
11.4
10.2
―
―
9.1
13.9
10.6
9.9
7.9
7.2
C
Small-Cap Stock Category Average
AmCent New Opp Inv (TWNOX)
G
AmCent Small Cap Value Inv (ASVIX) V
American Beacon SmCVl Inv (AVPAX) V
36.1
26.3
38.7
34.9
(38.8) 2.4
(42.5) 23.0
(27.7) (2.8)
(32.2) (6.7)
14.4
10.7
15.5
14.3
7.1
6.8
8.4
5.5
14
Bull Market
Return (%)
Fund Cat +/-
Bear Market
3-Year
5-Year
Return (%)
Return (%)
Return (%)
(49.3) 2.0
(44.3) 7.0
(41.6) 9.7
(52.0) (0.7)
(49.5) 1.8
(51.7) (0.4)
(44.1) 7.2
(49.5) 1.8
(58.5) (7.2)
(64.5) (13.2)
(48.8) 2.5
(57.6) (6.3)
(55.5) (4.2)
(56.1) (4.8)
(52.1) (0.8)
(51.9) (0.6)
(61.5) (10.2)
(64.1) (12.8)
(38.3) 13.0
(5.3) 46.0
(50.5) 0.8
(46.5) 4.8
(43.4) 7.9
(52.0) (0.7)
(57.4) (6.1)
(52.5) (1.2)
(47.6) 3.7
(50.4) 0.9
(42.0) 9.3
(44.0) 7.3
(50.8) 0.5
(40.6) 10.7
(51.2) 0.1
(35.2) 16.1
(39.9) 11.4
(49.3) 2.0
(55.8) (4.5)
(59.1) (7.8)
(42.8) 8.5
(52.4) (1.1)
(48.2) 3.1
(47.4) 3.9
(53.7) (2.4)
(51.1) 0.2
(52.8) (1.5)
(54.4) (3.1)
(53.2) (1.9)
(49.6) 1.7
(53.5) (2.2)
(48.0) 3.3
(56.1) (4.8)
(44.4) 6.9
(49.7) 1.6
(0.3)
(2.9)
(2.0)
0.4
(2.2)
(4.0)
(4.8)
(2.2)
(5.6)
(5.1)
(2.9)
(8.8)
(6.2)
(4.2)
(0.8)
(4.0)
(7.7)
(6.4)
1.4
3.4
(2.9)
(0.3)
(3.9)
(0.4)
0.9
(6.3)
(5.0)
(4.8)
(0.1)
(3.8)
(2.5)
(1.7)
(3.0)
(1.0)
0.5
(0.7)
(3.3)
(6.9)
2.5
(4.4)
1.0
(1.2)
(4.8)
(2.2)
(4.3)
(4.0)
(5.9)
(1.4)
(4.8)
(4.3)
(8.9)
(4.3)
(2.8)
3.8
1.2
2.1
4.5
1.9
0.1
(0.7)
1.9
(1.5)
(1.0)
1.2
(4.7)
(2.1)
(0.1)
3.3
0.1
(3.6)
(2.3)
5.5
7.5
1.2
3.8
0.2
3.7
5.0
(2.2)
(0.9)
(0.7)
4.0
0.3
1.6
2.4
1.1
3.1
4.6
3.4
0.8
(2.8)
6.6
(0.3)
5.1
2.9
(0.7)
1.9
(0.2)
0.1
(1.8)
2.7
(0.7)
(0.2)
(4.8)
(0.2)
1.3
66.7 0.0 (53.3) 0.0
52.8 (13.9) (55.0) (1.7)
73.2 6.5 (45.7) 7.6
73.8 7.1
(51.7) 1.6
(5.6)
(3.7)
(0.8)
(5.1)
0.0
1.9
4.8
0.5
63.8 4.1
44.8 (14.9)
41.9 (17.8)
92.2 32.5
63.4 3.7
64.9 5.2
47.2 (12.5)
63.5 3.8
56.8 (2.9)
92.1 32.4
63.6 3.9
66.5 6.8
71.5 11.8
72.8 13.1
66.5 6.8
64.5 4.8
84.2 24.5
99.1 39.4
61.9 2.2
8.6 (51.1)
59.6 (0.1)
66.7 7.0
44.8 (14.9)
64.9 5.2
75.6 15.9
63.9 4.2
46.2 (13.5)
64.9 5.2
52.8 (6.9)
44.3 (15.4)
46.0 (13.7)
43.3 (16.4)
63.4 3.7
37.7 (22.0)
51.9 (7.8)
73.3 13.6
53.4 (6.3)
52.6 (7.1)
60.3 0.6
65.7 6.0
62.1 2.4
73.4 13.7
64.2 4.5
55.0 (4.7)
66.9 7.2
61.2 1.5
72.4 12.7
55.4 (4.3)
66.7 7.0
61.0 1.3
63.4 3.7
55.2 (4.5)
64.8 5.1
3.5
2.9
3.6
5.2
2.8
―
(0.2)
2.9
(0.4)
3.3
3.2
(1.4)
1.4
3.2
4.0
2.3
0.7
(0.5)
6.0
5.3
3.1
5.6
5.7
4.5
8.1
0.4
0.0
1.0
3.0
1.6
3.7
1.7
―
3.3
5.3
5.2
―
1.7
6.5
2.1
4.8
4.5
2.9
2.9
2.0
―
―
3.3
2.2
2.9
(1.2)
2.2
1.9
1.7
1.1
1.8
3.4
1.0
―
(2.0)
1.1
(2.2)
1.5
1.4
(3.2)
(0.4)
1.4
2.2
0.5
(1.1)
(2.3)
4.2
3.5
1.3
3.8
3.9
2.7
6.3
(1.4)
(1.8)
(0.8)
1.2
(0.2)
1.9
(0.1)
―
1.5
3.5
3.4
―
(0.1)
4.7
0.3
3.0
2.7
1.1
1.1
0.2
―
―
1.5
0.4
1.1
(3.0)
0.4
0.1
0.7 0.0
1.1 0.4
4.1 3.4
0.6 (0.1)
AAII Journal
Yield
(%)
Tax-
Cost
Ratio
(%)
―
―
―
―
―
―
11.8
8.3
5.8
2.3
―
―
6.5
3.0
5.8
2.3
(10.5) (14.0)
―
―
11.0
7.5
―
―
―
―
3.5
0.0
0.7 (2.8)
1.7 (1.8)
6.3
2.8
5.4
1.9
10.1
6.6
4.9
1.4
4.0
0.5
10.5
7.0
―
―
(4.8) (8.3)
―
―
6.7
3.2
6.1
2.6
7.8
4.3
9.0
5.5
8.3
4.8
(2.5) (6.0)
2.1 (1.4)
―
―
4.6
1.1
11.0
7.5
―
―
―
―
4.3
0.8
10.7
7.2
1.6 (1.9)
5.6
2.1
10.5
7.0
―
―
1.4 (2.1)
1.7 (1.8)
―
―
―
―
1.2 (2.3)
6.1
2.6
8.6
5.1
4.9
1.4
8.8
5.3
3.0 (0.5)
0.0
0.3
0.0
0.3
1.1
1.8
0.1
1.0
0.0
0.5
0.6
0.0
0.9
0.2
0.3
1.2
0.8
0.0
0.2
0.0
0.7
0.6
0.0
0.0
0.2
0.5
0.0
0.6
0.4
1.0
0.0
0.5
0.2
0.4
0.5
0.0
0.0
0.0
0.0
0.9
0.0
1.0
1.3
0.0
1.0
0.5
1.8
0.1
1.1
1.5
1.3
0.8
0.2
0.4
1.1
0.7
1.2
1.0
―
0.7
1.3
0.0
0.7
1.3
0.4
1.0
0.6
1.4
0.8
0.9
2.1
1.7
1.7
0.7
0.8
0.9
0.0
0.2
1.3
1.1
1.5
0.8
1.9
0.0
1.1
―
0.7
1.5
0.1
―
0.8
0.8
0.6
1.0
1.5
1.1
0.7
0.2
―
―
0.8
0.2
0.9
1.0
1.7
1.7
1.02
0.81
0.83
1.22
1.01
1.00
0.80
1.01
1.04
1.45
0.97
1.10
1.09
1.16
1.00
1.01
1.25
1.35
0.97
0.19
0.92
0.97
1.01
1.09
1.21
0.96
0.86
0.99
0.83
0.81
0.86
0.78
0.97
0.62
0.80
1.00
1.07
1.11
0.98
1.04
0.99
0.95
1.00
0.94
1.05
1.05
1.06
0.92
1.03
0.91
1.06
0.85
0.99
1.22
0.97
0.99
1.46
1.21
1.19
0.95
1.21
1.25
1.74
1.17
1.31
1.31
1.39
1.19
1.21
1.49
1.62
1.16
0.23
1.10
1.16
1.21
1.30
1.45
1.15
1.04
1.18
1.00
0.96
1.03
0.94
1.16
0.75
0.95
1.19
1.28
1.34
1.18
1.24
1.19
1.14
1.20
1.13
1.25
1.25
1.26
1.10
1.23
1.09
1.27
1.02
1.18
399
1,579
43
693
1,927
101
660
804
1,894
4,169
24,672
222
491
6,452
1,683
2,584
7,696
255
819
244
2,110
391
132
1,582
3,269
70
141
126
1,437
933
307
395
581
898
7,498
441
426
1,901
3,910
296
13,862
6,082
147
348
4,309
546
459
1,359
6,789
3,143
3,362
390
1,109
90
96
97
74
100
95
91
95
100
90
89
100
99
100
99
99
99
100
90
40
100
97
98
96
92
98
94
99
96
97
94
94
95
71
89
90
99
100
90
95
95
93
98
93
100
100
100
96
100
87
99
97
95
0
0
0
5
0
0
0
0
0
5
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
1
0
0
3
0
0
0
1
3
0
0
0
0
0
0
0
1
6
1
0
0
0
1
0
0
3
0
0
0
0
0
0
0
0
0
0
0
10
5
3
21
0
5
9
5
1
4
10
0
1
0
1
1
0
0
10
57
0
3
2
4
6
2
6
1
4
3
7
6
4
21
10
10
1
0
9
5
5
4
2
7
0
0
0
4
0
12
1
3
5
3.8
1.6
0.0
5.7
0.0
7.9
2.5
0.0
10.1
4.5
29.1
10.4
0.6
12.4
15.9
2.4
7.9
8.0
0.0
3.0
19.0
8.9
0.0
12.2
25.8
3.7
6.3
2.2
7.0
4.7
2.6
6.0
6.5
11.2
7.4
7.6
4.4
5.6
16.2
0.5
6.3
5.2
5.4
17.5
0.5
1.2
1.2
2.6
1.2
6.3
1.3
0.0
5.7
17
113
110
81
22
60
13
18
268
34
31
220
268
73
92
16
51
142
35
472
14
65
123
41
144
81
76
63
35
87
69
33
123
63
103
24
139
127
11
20
33
74
57
18
13
54
45
85
24
23
60
158
73
51
65
68
74
403
67
41
404
91
233
884
90
116
196
249
3,155
352
275
48
172
462
54
31
89
49
69
38
76
55
59
115
84
334
54
154
79
123
133
70
1,822
142
140
294
326
3,029
250
269
103
456
64
709
97
85
31.9
26.5
23.9
45.2
8.5
20.8
39.4
10.0
22.9
28.2
15.3
24.5
15.1
17.0
19.3
10.3
11.7
8.7
29.9
29.3
16.5
26.0
34.6
22.3
39.8
24.3
32.9
19.0
24.6
24.6
15.9
17.7
10.2
41.0
14.3
41.0
19.5
18.2
22.3
8.2
18.6
20.2
12.6
9.1
4.8
9.9
9.1
22.0
5.0
34.7
10.6
25.9
18.3
1.02
1.09
1.18
1.49
0.50
1.00
1.40
0.56
0.83
0.92
0.99
0.69
0.85
0.73
1.10
0.10
0.64
0.89
1.22
0.64
1.38
1.33
1.27
0.92
0.92
1.15
1.25
1.24
0.86
1.12
1.14
0.67
1.20
1.23
1.07
0.80
1.22
1.16
1.16
0.41
0.83
0.83
0.90
1.16
0.30
0.30
0.30
0.61
0.27
0.45
0.32
1.32
1.37
5.2
(4.3)
12.5
10.4
0.2
0.0
1.6
0.3
1.0
0.0
2.5
1.2
1.00
0.95
0.94
1.04
1.29
1.22
1.21
1.35
704
137
794
775
94
99
92
95
0
0
0
0
1
0
3
0
5
1
5
5
7.0
6.8
2.6
0.9
111
159
192
62
243
205
383
481
21.4
13.4
10.2
11.8
1.39 ―
1.51 2.00R
1.49 ―
1.19 ―
10-Year
Return (%)
Fund Cat +/-
0.0
(9.5)
7.3
5.2
Risk
Index
Cat Total
Total
Assets
($ Mil)
Portfolio (%)
% of Portfolio
% of
Foreign
Ratio
of
Top 10 Ratio
Load Fee
Issues
(%)
(%)
2.00R
―
―
2.00R
―
―
―
―
1.50R
1.50R
1.50R
0.75R
0.75R
0.75R
―
0.75R
―
―
―
2.00R
2.00R
2.00R
―
―
―
1.00R
―
2.00R
2.00R
2.00R
―
―
―
2.00R
―
2.00R
―
―
1.00R
0.50R
―
―
―
―
―
―
―
―
―
1.00R
―
―
―
―
―
―
0.25
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
0.25
0.25
―
―
―
0.25
―
―
―
―
―
―
―
―
―
―
0.25
0.25
―
―
―
―
0.25
0.25
―
―
―
―
―
―
―
―
―
―
―
―
―
15
Closed
Index Fund
C
C
I
C
I
C
C
I
C
I
I
I
I
16
Fund Name (Ticker)
Style
GrthVal 2009 2008 2007 2006 2005
Artisan Small Cap Val Inv (ARTVX) V
Aston/TAMRO Small Cap N (ATASX)
G V
Baron Growth (BGRFX)
G
Baron Small Cap (BSCFX)
G
Berwyn (BERWX) V
Bridgeway Ul-Sm Co Mkt (BRSIX)
G V
Buffalo Small Cap (BUFSX)
G
CRM Small Cap Value Inv (CRMSX)
G V
Dreman Cont SmCp Val R (DRSVX)
G V
Dreyfus Sm Cap Stk Indx (DISSX)
G V
Dreyfus Small Co Value (DSCVX)
G V
Fidelity Series SmCp Opp (FSOPX)
G V
Fidelity Small Cap Growth (FCPGX)
G
Fidelity Small Cap Indep (FDSCX)
G
Fidelity Small Cap Stock (FSLCX)
G V
Fidelity Small Cap Value (FCPVX) V
FMI Focus (FMIOX)
G V
Gabelli Sm Cp Growth AAA (GABSX) G V
Heartland Value (HRTVX) V
Heartland Value Plus (HRVIX) V
HighMark Cognitive Val M (HCLMX) V
Janus Triton J (JATTX)
G
Janus Venture J (JAVTX)
G
Kalmar Gr Val Sm Cp (KGSCX)
G
Longleaf Partners Sm-Cap (LLSCX) V
NB Small Cp Grw Inv (NBMIX)
G
Neuberger Ber Genesis Inv (NBGNX) G V
Nicholas Ltd Edition I (NCLEX)
G
Northern MultiMgr Sm Cap (NMMSX) G
Northern Small Cap Index (NSIDX)
G V
Northern Small Cap Value (NOSGX) V
Perkins Sm Cap Val Inv (JSCVX) V
Pinnacle Value (PVFIX) V
RBC Enterprise S (TETSX)
G V
RBC Microcap Val S (TMVSX) V
Royce Heritage Svc (RGFAX)
G V
Royce Low Priced Stk S (RYLPX)
G V
Royce Micro-Cap Invt (RYOTX)
G V
Royce Opportunity Invt (RYPNX) V
Royce PA Mutual Invt (PENNX)
G V
Royce Special Equity Invt (RYSEX)
G V
Royce Total Return Invt (RYTRX)
G V
Royce Value Plus Svc (RYVPX)
G
Royce Value Svc (RYVFX)
G V
Schroder US Opport Inv (SCUIX)
G
Schwab Small Cap Index (SWSSX)
G V
Scout Small Cap (UMBHX)
G
Stratton Small-Cap Value (STSCX)
G V
T. Rowe Price New Horiz (PRNHX)
G
T. Rowe Price Sm Stk (OTCFX)
G V
T. Rowe Price Sm Val (PRSVX)
G V
Third Avenue Sm-Cap Val Instl (TASCX)G V
TIAA-CREF SmCpEqRet (TCSEX)
G V
Value Line Emerging Opp (VLEOX)
G
Vanguard Explorer (VEXPX)
G
Vanguard SmCp Gr Idx (VISGX)
G
Vanguard SmCp Idx (NAESX)
G V
Vanguard SmCp Vl Idx (VISVX) V
40.2
32.3
34.2
35.2
27.7
25.9
37.4
29.1
30.9
25.2
64.3
46.5
42.9
32.2
62.6
36.5
40.1
29.7
44.4
26.3
20.6
49.9
54.5
33.5
49.3
23.0
26.3
27.5
30.4
27.2
17.7
36.5
12.7
23.2
28.7
51.8
53.5
55.7
62.1
36.2
28.3
26.2
41.3
44.7
32.3
35.7
20.9
17.8
43.8
38.4
26.8
25.2
26.7
24.6
36.2
41.8
36.1
30.3
(23.9)
(33.2)
(39.2)
(40.3)
(27.1)
(39.5)
(29.9)
(30.7)
(27.0)
(30.8)
(32.0)
(39.3)
(45.0)
(47.0)
(43.0)
(30.3)
(30.5)
(31.0)
(39.6)
(17.9)
(33.1)
(40.6)
(51.5)
(40.4)
(44.0)
(42.3)
(32.9)
(30.3)
(37.8)
(34.1)
(23.5)
(21.8)
(16.9)
(38.1)
(39.4)
(36.3)
(36.0)
(41.0)
(45.8)
(34.8)
(19.7)
(31.2)
(41.1)
(34.3)
(31.3)
(35.0)
(40.2)
(25.8)
(38.8)
(33.4)
(28.7)
(34.6)
(32.9)
(38.3)
(40.5)
(40.0)
(36.1)
(32.1)
(6.0)
0.2
6.5
11.6
(3.7)
(5.4)
(0.4)
(3.4)
0.9
(0.7)
4.9
―
16.8
7.3
7.7
1.1
3.3
7.2
(5.6)
4.7
(5.0)
20.6
16.3
12.6
2.8
26.4
21.8
11.2
(1.2)
(2.0)
(8.8)
2.9
15.4
(3.1)
(9.2)
1.2
2.3
7.0
(2.0)
2.7
4.7
2.3
3.2
3.7
10.2
0.5
13.3
(2.2)
6.2
(1.8)
(0.2)
1.3
(6.3)
12.3
5.0
9.6
1.1
(7.1)
19.1
27.8
15.5
11.8
6.7
11.4
13.9
14.4
30.7
14.6
5.0
―
13.2
14.5
12.3
15.6
12.7
19.1
28.0
13.6
22.1
15.8
23.5
6.1
22.3
7.9
7.3
6.3
―
17.8
20.2
12.3
13.2
16.3
21.6
22.6
18.9
22.3
18.7
14.7
14.0
14.5
19.3
16.7
20.8
16.7
12.0
13.8
7.3
12.7
16.2
11.4
17.7
11.9
9.7
11.9
15.6
19.2
Bull Market
Return (%)
Fund Cat +/-
Bear Market
3-Year
5-Year
Return (%)
Return (%)
Return (%)
11.0
74.1 7.4 (42.4) 10.9
0.1 5.7
2.3
52.9 (13.8) (46.0) 7.3
(4.0) 1.6
5.7
58.3 (8.4) (51.4) 1.9
(4.6) 1.0
8.3
58.2 (8.5) (51.5) 1.8
(3.4) 2.2
12.1
67.5 0.8 (47.8) 5.5
(3.6) 2.0
4.0
58.5 (8.2) (55.8) (2.5) (10.4) (4.8)
3.2
54.4 (12.3) (43.3) 10.0
(1.3) 4.3
10.3
56.0 (10.7) (45.6) 7.7
(4.7) 0.9
7.5
68.2 1.5 (45.8) 7.5
(1.2) 4.4
7.3
62.6 (4.1) (51.0) 2.3
(4.9) 0.7
7.1
87.4 20.7 (44.0) 9.3
5.4 11.0
―
80.7 14.0 (54.7) (1.4) ―
―
14.2
66.9 0.2
(55.1) (1.8) (2.8) 2.8
10.9
63.8 (2.9) (61.0) (7.7) (9.1) (3.5)
8.0
98.0 31.3 (55.9) (2.6)
0.0 5.6
17.6
75.5 8.8 (49.9) 3.4
(1.3) 4.3
4.9
67.1 0.4 (44.8) 8.5
0.2 5.8
5.9
55.6 (11.1) (45.3) 8.0
(1.4) 4.2
1.9
75.0 8.3
(54.1) (0.8) (6.2) (0.6)
1.3
50.0 (16.7) (34.8) 18.5
2.8 8.4
5.7
50.8 (15.9) (51.0) 2.3
(8.5) (2.9)
―
67.3 0.6
(49.4) 3.9
2.4 8.0
1.5
76.2 9.5 (60.8) (7.5) (4.5) 1.1
5.2
53.3 (13.4) (51.1) 2.2
(3.6) 2.0
10.7
79.3 12.6 (57.7) (4.4) (4.9) 0.7
15.2
52.2 (14.5) (55.3) (2.0) (3.6) 2.0
16.3
48.6 (18.1) (43.7) 9.6
1.1 6.7
7.7
50.5 (16.2) (43.7) 9.6
(0.4) 5.2
―
61.3 (5.4) (54.1) (0.8) (7.1) (1.5)
4.2
62.8 (3.9) (52.2) 1.1
(6.3) (0.7)
8.0
58.4 (8.3) (47.2) 6.1
(6.3) (0.7)
8.9
67.1 0.4 (38.8) 14.5
3.2 8.8
8.5
23.0 (43.7) (24.7) 28.6
2.6 8.2
3.8
58.7 (8.0) (55.9) (2.6) (9.6) (4.0)
7.3
66.4 (0.3) (57.4) (4.1) (10.9) (5.3)
8.7
85.4 18.7 (51.3) 2.0
(0.7) 4.9
9.6
79.6 12.9 (48.8) 4.5
0.2 5.8
11.5
80.6 13.9 (52.2) 1.1
(0.5) 5.1
4.7 109.5 42.8 (61.8) (8.5) (4.9) 0.7
12.5
68.2 1.5
(50.4) 2.9
(3.0) 2.6
(1.0)
48.4 (18.3) (32.4) 20.9
2.6 8.2
8.2
55.3 (11.4) (47.1) 6.2
(3.9) 1.7
13.2
63.6 (3.1) (53.4) (0.1) (4.9) 0.7
17.2
65.2 (1.5) (45.9) 7.4
(0.4) 5.2
6.4
58.2 (8.5) (45.2) 8.1
0.0 5.6
4.8
74.9 8.2
(53.0) 0.3
(4.0) 1.6
5.6
40.9 (25.8) (50.6) 2.7
(6.5) (0.9)
10.8
49.1 (17.6) (46.0) 7.3
(5.1) 0.5
11.9
65.0 (1.7) (49.9) 3.4
(2.2) 3.4
8.4
67.4 0.7 (49.2) 4.1
(3.3) 2.3
8.7
60.6 (6.1) (47.3) 6.0
(3.3) 2.3
11.0
57.1 (9.6) (50.6) 2.7
(6.0) (0.4)
3.2
61.3 (5.4) (51.3) 2.0
(7.3) (1.7)
8.0
48.4 (18.3) (51.2) 2.1
(4.8) 0.8
9.2
59.4 (7.3) (52.3) 1.0
(5.2) 0.4
8.6
70.5 3.8
(53.5) (0.2) (2.3) 3.3
7.3
72.2 5.5
(53.2) 0.1
(4.2) 1.4
6.0
74.1 7.4
(53.2) 0.1
(6.3) (0.7)
5.8
3.0
1.2
1.8
1.4
(3.6)
2.4
1.8
6.2
1.1
5.7
―
3.5
(0.9)
3.9
5.5
3.5
3.9
1.5
4.5
(0.2)
―
1.8
0.0
3.1
2.2
5.2
2.5
―
0.2
1.3
6.1
5.8
(2.2)
(1.6)
5.5
5.5
6.0
1.4
3.3
4.0
1.9
3.0
6.2
5.2
1.6
(0.7)
1.5
2.3
2.0
2.7
0.5
(0.6)
0.9
0.4
2.5
1.8
0.8
5.1
2.3
0.5
1.1
0.7
(4.3)
1.7
1.1
5.5
0.4
5.0
―
2.8
(1.6)
3.2
4.8
2.8
3.2
0.8
3.8
(0.9)
―
1.1
(0.7)
2.4
1.5
4.5
1.8
―
(0.5)
0.6
5.4
5.1
(2.9)
(2.3)
4.8
4.8
5.3
0.7
2.6
3.3
1.2
2.3
5.5
4.5
0.9
(1.4)
0.8
1.6
1.3
2.0
(0.2)
(1.3)
0.2
(0.3)
1.8
1.1
0.1
AAII Journal
10-Year
Return (%)
Fund Cat +/-
11.6
6.4
―
―
5.2
0.0
3.8 (1.4)
9.2
4.0
8.9
3.7
11.1
5.9
8.8
3.6
―
―
6.0
0.8
8.2
3.0
―
―
―
―
2.8 (2.4)
7.3
2.1
―
―
6.4
1.2
8.3
3.1
8.8
3.6
10.2
5.0
―
―
―
―
(3.6) (8.8)
4.6 (0.6)
8.2
3.0
(5.2) (10.4)
11.2
6.0
3.1 (2.1)
―
―
3.0 (2.2)
7.1
1.9
10.3
5.1
―
―
8.1
2.9
7.4
2.2
9.0
3.8
10.8
5.6
11.4
6.2
9.7
4.5
9.7
4.5
12.0
6.8
8.5
3.3
―
―
―
―
10.1
4.9
3.8 (1.4)
7.2
2.0
9.7
4.5
3.3 (1.9)
6.4
1.2
10.9
5.7
7.6
2.4
―
―
4.3 (0.9)
3.3 (1.9)
4.8 (0.4)
4.3 (0.9)
7.6
2.4
Yield
(%)
Tax-
Cost
Ratio
(%)
0.1
0.0
0.0
0.0
0.2
1.5
0.1
0.0
0.8
0.8
0.0
0.0
0.0
0.1
0.0
0.4
0.1
0.0
0.0
0.8
0.9
0.2
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.9
0.8
0.2
0.0
0.0
0.4
0.0
0.1
1.3
0.0
0.1
0.4
1.3
0.0
0.0
0.0
0.9
0.0
0.0
0.1
0.2
0.9
0.8
0.5
0.0
0.2
0.3
1.0
1.9
1.9
0.3
0.4
0.7
1.1
0.8
1.0
1.8
0.1
0.9
1.9
―
0.5
1.3
1.1
0.7
1.9
0.8
1.3
1.3
1.8
―
1.2
0.8
1.6
0.0
1.1
0.7
―
1.4
1.1
2.4
1.1
1.6
1.2
1.5
1.2
1.7
1.5
0.9
1.1
0.9
0.6
0.6
0.8
1.4
0.6
0.2
0.8
0.9
1.1
1.0
1.2
0.2
1.0
0.1
0.3
0.4
Risk
Index
Cat Total
1.00
0.95
0.86
0.89
0.99
0.93
0.91
0.87
0.90
0.97
1.05
1.07
0.99
1.07
1.12
1.04
0.93
0.84
1.02
0.78
0.87
0.94
1.06
0.89
1.05
0.93
0.80
0.82
0.96
0.98
0.95
0.84
0.44
0.96
1.00
1.07
1.06
0.96
1.30
0.97
0.71
0.83
0.99
1.04
0.85
1.04
0.87
0.84
0.93
0.94
0.90
0.96
0.97
0.86
0.92
1.03
1.02
1.05
1.29
1.22
1.12
1.15
1.28
1.21
1.18
1.13
1.16
1.26
1.36
1.39
1.28
1.39
1.45
1.35
1.20
1.08
1.32
1.01
1.13
1.21
1.37
1.15
1.36
1.20
1.03
1.06
1.24
1.27
1.22
1.08
0.57
1.24
1.30
1.39
1.37
1.24
1.68
1.25
0.92
1.08
1.28
1.35
1.11
1.35
1.13
1.09
1.20
1.21
1.17
1.24
1.25
1.12
1.19
1.34
1.32
1.37
Total
Assets
($ Mil)
Portfolio (%)
2,198
270
4,924
2,699
138
351
2,535
154
83
882
343
1,429
1,187
1,487
3,635
1,588
371
1,248
1,172
768
69
333
964
253
2,366
202
1,843
137
419
234
1,363
708
60
112
154
183
2,670
844
837
3,556
841
3,079
2,518
1,178
175
1,253
504
856
5,281
4,581
4,456
1,263
49
500
6,222
3,018
5,913
3,279
92
97
92
93
94
100
84
96
93
100
99
98
94
97
92
98
94
82
97
98
99
90
97
97
99
98
96
97
95
98
96
78
49
98
99
90
94
80
91
91
80
93
89
91
89
99
99
100
96
96
89
87
100
95
96
100
100
100
0
0
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
6
0
0
0
0
0
0
0
0
1
1
0
0
0
0
0
0
0
1
0
0
0
2
0
0
0
0
0
1
3
0
0
0
1
0
1
1
1
2
1
0
0
5
4
7
5
3
1
4
5
1
1
0
0
0
1
1
4
0
0
0
0
0
0
0
8
3
7
7
6
0
16
4
7
0
1
2
6
3
9
0
7
18
3
2
1
9
0
3
1
2
3
3
5
1
3
20
50
2
1
5
2
14
5
6
20
3
7
8
10
1
1
0
3
3
7
6
0
5
4
0
0
0
% of Portfolio
% of
Foreign
Ratio
of
Top 10 Ratio
Load Fee
Issues
(%)
(%)
1.5
0.0
2.8
5.7
0.0
2.5
1.0
4.2
4.7
0.0
0.9
5.4
11.5
15.1
8.3
3.1
1.7
9.3
23.9
0.0
2.6
4.6
9.5
9.9
17.5
6.5
4.1
2.2
4.7
2.2
4.0
0.3
6.2
2.5
2.4
20.2
27.0
27.0
0.9
8.9
0.0
7.6
14.4
18.9
3.3
0.7
0.0
1.7
2.3
1.7
2.1
34.9
1.3
4.0
4.9
1.3
1.1
0.9
63
90
27
36
38
42
15
87
47
32
194
167
150
135
92
51
58
25
60
53
141
88
31
34
23
292
12
36
185
30
37
112
66
20
17
128
39
43
52
36
27
25
42
41
74
64
327
26
26
24
13
15
91
17
112
38
14
30
113
63
94
86
44
511
64
68
98
602
99
198
149
180
197
71
70
551
162
63
212
83
113
84
21
72
126
102
278
1,930
580
110
48
76
407
224
186
187
286
508
77
461
136
71
134
999
132
86
250
292
347
66
763
268
1,106
985
1,753
1,025
14.2
23.7
24.3
23.0
34.0
10.6
31.4
23.7
17.9
6.0
21.1
10.5
11.3
14.4
22.5
28.8
27.2
10.7
22.9
32.6
11.8
21.5
25.7
24.7
60.9
21.3
20.3
16.1
13.3
3.3
8.3
15.5
29.1
34.7
6.4
10.7
17.1
11.0
8.1
7.9
24.1
9.3
14.7
26.3
27.1
3.6
18.1
19.2
21.6
11.9
17.6
37.1
5.7
10.5
9.8
4.8
2.9
5.4
1.20
1.34
1.32
1.32
1.33
0.76
1.01
1.11
1.30
0.50
1.38
0.93
1.08
0.77
0.96
1.20
1.29
1.45
1.20
1.27
1.08
1.17
0.89
1.41
0.93
1.32
1.10
0.93
1.40
0.35
1.00
1.03
1.87
1.08
1.08
1.52
1.49
1.69
1.23
0.91
1.15
1.19
1.48
1.46
1.27
0.19
1.09
1.22
0.84
0.93
0.92
1.13
0.94
1.18
0.51
0.28
0.28
0.28
―
―
―
―
1.00R
2.00R
2.00R
―
1.00R
―
―
―
1.50R
1.50R
2.00R
1.50R
―
2.00R
2.00R
2.00R
2.00R
―
―
2.00R
―
―
―
―
―
―
―
―
1.00R
2.00R
2.00R
1.00R
1.00R
1.00R
1.00R
1.00R
1.00R
1.00R
1.00R
1.00R
2.00R
2.00R
2.00R
1.50R
―
―
1.00R
1.00R
2.00R
―
―
―
―
―
―
0.25
0.25
0.25
―
―
―
―
0.25
―
―
―
―
―
―
―
―
0.25
0.25
0.25
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
0.25
0.25
―
―
―
―
―
0.25
0.25
―
―
―
―
―
―
―
―
0.25
0.25
―
―
―
―
17
Closed
Index Fund
Neutral/Inverse and Sector Stock Funds
Fund Name (Ticker)
Style
GrthVal 2009 2008 2007 2006 2005
Bull Market
Return (%)
Fund Cat +/-
Bear Market
3-Year
5-Year
Return (%)
Return (%)
Return (%)
I
C
Vanguard Tax-Mgd SmCap Iv (VTMSX) G V
Wasatch Small Cap Growth (WAAEX) G
Wells Fargo Adv Sm Cap Val Inv (SSMVX) G V
Westcore Sm-Cap Val (WTSVX) V
25.5
48.7
51.9
22.0
(30.9) 0.5 14.1 7.7
(41.7) 8.3
8.4 5.1
(38.4) 10.3 12.9 15.0
(33.6) (3.4) 23.5 4.4
63.0 (3.7)
68.1 1.4
77.4 10.7
62.5 (4.2)
I
C
Long-Short Category Average
Arbitrage R (ARBFX)
Caldwell & Orkin Mkt Opp (COAGX)
Hussman Strategic Growth (HSGFX)
James Market Neutral (JAMNX)
Merger (MERFX)
Nakoma Absolute Return (NARFX)
Rydex/SGI Mgd Ftrs Str H (RYMFX)
TFS Market Neutral (TFSMX)
3.5
10.0
(3.4)
4.6
(17.8)
8.5
(9.2)
(4.3)
16.6
(12.4)
(0.7)
(4.7)
(9.1)
(5.1)
(2.3)
(4.4)
8.5
(7.3)
6.9 0.0 (14.7) 0.0
7.5 0.6
1.3 16.0
(2.9) (9.8)
(1.0) 13.7
2.2 (4.7)
(6.1) 8.6
(14.5)(21.4)
(6.6) 8.1
8.5 1.6
(6.2) 8.5
(8.6)(15.5)
(3.2) 11.5
(4.6)(11.5) 12.6 27.3
18.4 11.5
(6.4) 8.3
I
I
I
I
I
I
I
I
I
I
I
Contra Market Category Average (34.7) 30.7 (5.6) (8.1) (2.4) (45.2) 0.0
72.1 0.0
Grizzly Short (GRZZX) (47.2) 73.6 6.6 (12.2) (3.3) (55.0) (9.8) 123.8 51.7
PIMCO StocksPLUS Sh D (PSSDX) (14.4) 47.7
5.9 ―
―
(28.2)17.0
90.2 18.1
ProFunds Bear Inv (BRPIX) (28.0) 39.7
0.8 (7.2) (1.2) (39.5) 5.7
76.1 4.0
ProFunds Rising Opp Inv (RRPIX) 32.6 (37.7) (4.9) 10.3 (7.6)
8.6 53.8
(28.0)(100.1)
ProFunds Short OilGas Inv (SNPIX) (25.9) 12.1 (23.9) (16.5) ―
(33.8) 11.4
21.9 (50.2)
ProFunds Short RealEst Inv (SRPIX) (51.9) (5.3) 23.7 (22.0) ―
(63.9)(18.7)
44.3 (27.8)
ProFunds Short Sm Cp Inv (SHPIX) (33.0) 23.7
5.0 (11.7) (2.6) (45.5) (0.3)
63.9 (8.2)
ProFunds Shrt NSDQ-100 Iv (SOPIX) (40.6) 45.3 (11.7) (1.3) 1.2 (43.8) 1.4
65.2 (6.9)
ProFunds UltraSh Emkt Inv (UVPIX) (77.2) 13.6 (61.4) ―
―
(79.3)(34.1)
36.4 (35.7)
ProFunds UltraSh NSDQ-100 Inv (USPIX) (67.0) 80.7 (27.7) (8.0) (1.2) (69.6)(24.4) 122.6 50.5
Rydex Inv GovLgBdStrInv (RYJUX) 19.5 (29.5) (4.4) 8.3 (5.0)
1.6 46.8 (20.9) (93.0)
Rydex Inv S&P 500 Str Inv (RYURX) (27.3) 40.9
1.2 (7.0) (0.7) (39.2) 6.0
78.5 6.4
Rydex InvS&P500 2xStrgyH (RYTPX) (50.6) 66.1 (4.0) (17.5) (4.6) (64.6)(19.4) 156.3 84.2
I
Energy/Resources Sector Category Average
Fidelity Sel Energy (FSENX)
Fidelity Sel Energy Serv (FSESX)
Fidelity Sel Materials (FSDPX)
Fidelity Sel Natural Gas (FSNGX)
Fidelity Sel Natural Res (FNARX)
Guinness Atkinson Glbl Enrgy (GAGEX)
ICON Energy (ICENX)
PIMCO CommRealRetStrD (PCRDX)
Rydex Basic Materials Iv (RYBIX)
T. Rowe Price New Era (PRNEX)
US Global Inv Glob Res (PSPFX)
Vanguard Energy (VGENX)
52.8
47.0
61.9
78.6
56.3
51.7
63.2
22.1
39.3
56.8
49.3
68.2
38.3
(53.5)
(54.0)
(63.2)
(47.6)
(56.7)
(52.4)
(48.6)
(33.4)
(43.7)
(45.7)
(50.2)
(62.2)
(42.9)
Financial/Banking Sector Category Average
Fidelity Sel Banking (FSRBX)
Fidelity Sel Broker&InvMgmt (FSLBX)
Fidelity Sel Fincl Svcs (FIDSX)
Fidelity Sel Insurance (FSPCX)
Schwab Financial Svc (SWFFX)
T. Rowe Price Fincl Svcs (PRISX)
22.8
5.0
50.4
25.8
21.8
13.8
28.4
Gold Sector Category Average
AmCent Global Gold Inv (BGEIX)
Fidelity Sel Gold (FSAGX)
GAMCO Gold AAA (GOLDX)
Tocqueville Gold (TGLDX)
US Glbl Inv Gold&PrecMtls (USERX)
USAA Prec Metals&Min (USAGX)
Vanguard Prec Mtls Mining (VGPMX)
59.1
43.2
38.0
52.1
86.5
43.1
62.4
76.4
18
9.1
7.1
33.0
4.1
6.6
2.9
15.1
―
11.4
42.9
45.5
55.2
29.2
40.9
50.0
37.2
38.7
23.1
34.7
40.6
39.9
37.0
9.6
5.8
7.4
3.5
(0.5)
10.9
―
―
24.1
4.5
(0.3)
(0.2)
5.7
7.9
0.8
―
―
5.8
(50.8)
(51.2)
(50.6)
(54.4)
2.5
2.1
2.7
(1.1)
(1.0) 0.0
5.4 6.4
7.0 8.0
(0.3) 0.7
(6.0) (5.0)
2.9 3.9
0.0
1.0
―
―
6.4 7.4
1.4 0.7
1.3 0.6
6.0 5.3
0.2 (0.5)
2.4
4.3
5.6
1.6
(2.2)
4.0
―
―
9.6
0.0
1.9
3.2
(0.8)
(4.6)
1.6
―
―
7.2
(10.2) 0.0 (6.3) 0.0
(0.8) 9.4
(3.7) 2.6
10.2 20.4
4.6 10.9
0.5 10.7 (1.4) 4.9
(7.7) 2.5
(4.3) 2.0
(14.2) (4.0) ―
―
(17.4) (7.2) ―
―
(4.5) 5.7
(5.6) 0.7
(8.7) 1.5
(5.3) 1.0
(53.6) (43.4) ―
―
(24.4) (14.2) (17.1) (10.8)
(6.9) 3.3 (3.7) 2.6
1.2 11.4 (0.9) 5.4
(7.6) 2.6
(9.1) (2.8)
13.7
14.2
8.6
19.4
5.2
19.1
9.8
9.6
(3.5)
22.0
17.0
22.1
19.6
41.0
52.0
54.1
14.3
45.8
46.0
63.9
41.9
19.9
3.7
29.8
48.9
44.6
72.8 0.0
61.3 (11.5)
71.7 (1.1)
96.7 23.9
64.5 (8.3)
65.7 (7.1)
83.5 10.7
45.7 (27.1)
52.5 (20.3)
75.5 2.7
66.2 (6.6)
77.0 4.2
55.6 (17.2)
(45.9)(10.1)
(37.5) (21.2)
(49.4) (0.2)
(49.9) (13.6)
(47.0) (4.4)
(44.2) (7.4)
(40.1) (9.4)
15.1
13.1
21.2
16.1
11.3
14.7
15.9
6.7
(0.2)
29.8
7.5
13.7
12.1
5.1
67.9 0.0 (62.9) 0.0 (16.7) 0.0 (7.6) 0.0
71.5 3.6
(66.5) (3.6) (19.8) (3.1) (10.2) (2.6)
78.9 11.0 (59.9) 3.0
(8.7) 8.0
3.6 11.2
75.6 7.7 (68.0) (5.1) (18.4) (1.7) (7.5) 0.1
66.5 (1.4) (63.1) (0.2) (14.9) 1.8
(4.8) 2.8
63.9 (4.0) (63.7) (0.8) (16.2) 0.5
(5.4) 2.2
70.5 2.6 (59.2) 3.7 (11.3) 5.4 (3.2) 4.4
(37.4)
(27.3)
(20.5)
(28.8)
(35.0)
(27.1)
(24.6)
(56.1)
33.1
27.0
25.4
32.3
39.2
50.1
43.1
34.3
33.3
29.1
40.7
33.6
30.0
32.8
39.2
43.7
23.7
15.1
24.9
24.7
12.4
16.9
27.6
36.1
61.6 0.0
43.3 (18.3)
42.0 (19.6)
51.4 (10.2)
74.8 13.2
45.1 (16.5)
63.0 1.4
102.7 41.1
(57.9) 0.0
(56.3) 1.6
(64.5) (6.6)
(53.7) 4.2
(58.5) (0.6)
(55.2) 2.7
(52.9) 5.0
(42.4) 15.5
(46.1) 11.8
(52.8) 5.1
(54.9) 3.0
(65.2) (7.3)
(48.4) 9.5
(4.5) 1.1
(2.1) 3.5
1.1 6.7
(7.9) (2.3)
(43.6) 0.0
(33.9) 9.7
(29.4) 14.2
(35.5) 8.1
(37.6) 6.0
(33.2) 10.4
(30.5) 13.1
(64.0) (20.4)
(0.9)
(0.6)
(2.6)
6.5
(1.6)
2.7
4.8
4.1
(1.1)
4.7
1.5
(3.8)
2.6
6.2
6.2
11.0
10.5
10.9
6.8
16.0
1.8
0.0
0.3
(1.7)
7.4
(0.7)
3.6
5.7
5.0
(0.2)
5.6
2.4
(2.9)
3.5
0.0
0.0
4.8
4.3
4.7
0.6
9.8
(4.4)
10.3
11.3
9.1
10.5
7.9
13.5
15.7
11.9
2.2
7.8
9.7
10.1
13.3
0.0
1.0
(1.2)
0.2
(2.4)
3.2
5.4
1.6
(8.1)
(2.5)
(0.6)
(0.2)
3.0
16.1 0.0
14.5 (1.6)
19.3 3.2
19.0 2.9
19.8 3.7
19.4 3.3
25.5 9.4
15.3 (0.8)
AAII Journal
10-Year
Return (%)
Fund Cat +/-
Yield
(%)
Tax-
Cost
Ratio
(%)
Risk
Index
Cat Total
Total
Assets
($ Mil)
Portfolio (%)
% of Portfolio
% of
Foreign
Ratio
of
Top 10 Ratio
Load Fee
Issues
(%)
(%)
32
52
27
45
603
89
134
68
8.6
25.7
34.1
25.9
0.19 1.00R
1.21 2.00R
1.38 ―
1.31 2.00R
―
―
―
―
450
709
879
69
65
318
115
74
204
208
95
63
115
33
86
28
50
1,679
47.3
28.9
68.4
53.2
26.3
55.0
79.7
31.2
5.4
1.91 ―
1.70 2.00R
1.21 2.00R
1.09 1.50R
2.28 ―
1.47 2.00R
1.89 ―
2.17 1.00R
2.71 2.00R
―
0.25
―
―
0.25
0.25
―
0.25
―
101
191
25
100
100
98
100
99
99
100
99
92
92
102
(0.6)
537
(5.9)
0
(15.0)
515
0.0 1,299
0.0
nmf
0.0
265
0.0
nmf
0.0
nmf
0.2
nmf
0.0
nmf
0.0 1,257
(2.6)
584
(1.2)
nmf
(1.8)
0
110
5
397
7
5
6
4
7
6
4
6
11
6
4
10.4
30.4
83.9
0.2
nmf
0.5
nmf
nmf
0.8
nmf
0.3
54.5
12.2
2.1
1.72
3.24
1.09
1.68
1.64
1.73
1.68
1.73
1.73
1.73
1.67
1.41
1.43
1.73
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
0.25
―
―
―
―
―
―
―
―
―
―
0.25
1
0
0
0
5
0
1
0
14
0
0
8
0
6
1
0
4
0
0
1
3
(23)
1
5
11
6
26.4
14.6
15.6
10.7
13.2
27.5
45.6
29.8
5.5
28.2
37.9
38.3
41.9
202
148
82
117
81
136
75
186
979
288
21
100
21
106
111
78
59
91
126
42
51
687
97
95
166
106
45.4
44.0
65.4
53.4
50.8
40.4
33.4
33.6
90.3
24.5
30.2
24.5
40.5
1.18
0.83
0.82
0.90
0.85
0.85
1.31
1.16
1.24
1.37
0.66
1.51
0.32
―
0.75R
0.75R
0.75R
0.75R
0.75R
2.00R
―
―
―
―
0.25R
1.00R
―
―
―
―
―
―
―
―
0.25
―
―
0.25
―
0
0
0
0
0
0
2
0
0
0
0
0
0
6
3
0
0
6
1
2
7
10.7
0.6
22.5
16.3
4.8
1.7
3.3
174
199
351
129
426
59
123
64
39
58
77
46
85
109
46.5
69.3
45.6
42.4
55.9
41.3
36.1
1.15 ―
0.93 0.75R
0.90 0.75R
0.94 0.75R
0.97 0.75R
0.94 2.00R
1.00 ―
―
―
―
―
―
―
―
0
0
0
0
0
2
0
0
3
0
0
0
12
9
3
0
13
0
4
0
0
20
5
2
74.3
91.3
79.9
90.2
77.1
67.4
84.0
88.1
61
20
42
10
28
61
28
22
68
54
76
57
57
112
55
44
47.9
59.5
65.6
61.0
54.2
31.2
43.7
59.0
1.31 ―
0.70 1.00R
0.87 0.75R
1.44 2.00R
1.44 2.00R
1.54 0.50R
1.31 ―
0.39 1.00R
―
―
―
0.25
0.25
0.25
―
―
6.4
6.3
12.8
―
1.2
1.1
7.6
―
0.7
0.0
0.5
1.1
0.2
0.9
1.1
0.5
0.97
0.92
0.98
1.02
1.26
1.19
1.26
1.32
1,527
912
1,771
192
100
89
95
98
0
0
0
0
0
1
0
0
0
10
5
2
0.1
17.3
20.7
3.0
3.6
―
4.3
―
1.8
4.6
―
―
―
0.0
―
0.7
―
(1.8)
1.0
―
―
―
0.8
0.4
0.8
0.1
0.0
0.0
0.0
0.0
0.0
1.0
1.2
0.9
1.1
0.4
1.3
―
―
0.5
1.00
0.47
0.88
0.76
0.73
0.45
0.59
0.92
1.00
0.56
0.26
0.49
0.43
0.41
0.25
0.33
0.51
0.56
854
373
405
5,448
36
2,262
215
1,469
948
41
69
18
83
13
54
10
12
25
4
0
5
0
0
0
0
22
6
9
2
0
0
0
(1)
1
0
1
47
29
77
17
87
47
89
65
69
7.4
19.5
10.5
(13.3)
(6.9)
12.8
(3.8)
12.9
5.2
(2.9) 0.0
―
―
―
―
0.2
3.1
―
―
―
―
―
―
―
―
―
―
―
―
(16.9) (14.0)
(6.0) (3.1)
0.9
3.8
―
―
0.2
0.0
4.9
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.2
0.1
0.9
1.3
―
1.0
0.9
―
―
1.1
1.2
―
1.0
0.5
0.7
0.7
1.00
1.06
0.60
0.66
0.80
0.75
1.36
0.85
0.79
1.67
1.52
0.71
0.66
1.26
1.46
1.55
0.88
0.96
1.17
1.10
2.00
1.25
1.16
2.46
2.22
1.04
0.97
1.85
128
104
74
82
184
2
30
66
28
8
38
321
191
118
(7)
(91)
(37)
0
0
0
0
0
0
0
0
0
(2)
(2)
5
0
92
0
0
0
0
0
0
0
0
8
10
0
1
0
20
1
0
2
0
1
1
0
1
0
0
0
12.0
11.0
10.2
11.2
12.2
11.9
―
18.0
―
4.7
11.5
16.8
16.3
0.0
(1.0)
(1.8)
(0.8)
0.2
(0.1)
―
6.0
―
(7.3)
(0.5)
4.8
4.3
0.7
0.2
0.1
0.8
0.0
0.1
0.0
1.2
5.6
0.2
1.1
0.0
1.6
1.3
0.9
0.4
0.8
1.3
0.6
0.9
2.5
4.4
0.3
0.9
3.1
0.8
1.00
0.95
1.12
0.86
1.02
0.96
0.96
0.76
0.83
0.84
0.87
1.03
0.80
1.81
1.73
2.03
1.56
1.84
1.75
1.74
1.37
1.50
1.52
1.58
1.87
1.45
1,099
2,199
1,271
561
1,161
1,543
75
599
781
54
4,927
728
6,790
87
100
100
96
95
100
99
97
0
99
95
81
94
5
0
0
0
0
0
0
0
109
0
0
1
0
2.0
(0.6)
5.9
0.2
4.4
―
4.5
0.0
(2.6)
3.9
(1.8)
2.4
―
2.5
1.3
1.4
0.5
1.1
0.9
0.7
0.9
1.5
1.6
1.4
1.3
0.8
0.6
1.9
1.00
1.09
1.04
1.02
0.97
0.98
0.92
1.45
1.59
1.52
1.49
1.41
1.43
1.34
216
299
588
476
134
61
333
97
100
100
95
99
98
86
17.8
16.6
17.1
20.2
21.7
18.3
24.4
17.7
0.0
(1.2)
(0.7)
2.4
3.9
0.5
6.6
(0.1)
1.0
0.6
0.0
1.7
0.0
0.3
1.6
1.5
1.2
0.5
1.7
1.0
1.1
1.3
1.3
1.7
1.00
1.01
0.96
0.99
0.91
0.88
1.01
0.88
2.38
2.42
2.28
2.35
2.17
2.11
2.40
2.10
993
943
2,999
521
1,128
257
1,525
3,952
84
100
97
100
88
69
93
98
19
Closed
Index Fund
Sector Stock Funds
Fund Name (Ticker)
2009 2008 2007 2006 2005
Health Sector Category Average
Fidelity Sel Biotech (FBIOX)
Fidelity Sel Health Care (FSPHX)
Fidelity Sel Med Equip (FSMEX)
Fidelity Sel Pharma (FPHAX)
Janus Global Life Sci J (JAGLX)
Live Oak Health Sciences (LOGSX)
Rydex Biotechnology Inv (RYOIX)
Schwab Health Care (SWHFX)
T. Rowe Price Health Sci (PRHSX)
Vanguard Health Care (VGHCX)
28.5
10.7
32.1
32.6
25.4
26.2
36.6
19.4
20.1
32.1
20.9
(26.0)
(11.4)
(32.5)
(23.4)
(22.8)
(28.8)
(23.7)
(10.6)
(25.0)
(28.8)
(18.5)
I
I
Real Estate Sector Category Average
CGM Realty (CGMRX)
Cohen & Steers RealSh (CSRSX)
Fidelity Intl Rel Est (FIREX)
Fidelity Real Estate Inc (FRIFX)
Fidelity Real Estate Inv (FRESX)
Northern Global RE Index (NGREX)
Stratton Month Div REIT (STMDX)
T. Rowe Price Real Est (TRREX)
Third Avenue RealEst Val Instl (TAREX)
Vanguard REIT Index (VGSIX)
35.8
34.3
32.5
35.8
46.8
32.8
36.9
33.9
31.6
38.6
29.5
Technology Sector Category Average
Baron iOpportunity (BIOPX)
Fidelity Sel Computers (FDCPX)
Fidelity Sel Electronics (FSELX)
Fidelity Sel Software (FSCSX)
Fidelity Sel Technology (FSPTX)
Janus Global Technology J (JAGTX)
Kinetics Internet NoLd (WWWFX)
T. Rowe Price Glob Tech (PRGTX)
T. Rowe Price SciTech (PRSCX)
Wells Fargo Adv Spclzd Tech Inv (WFTZX)
Bear Market
3-Year
5-Year
Return (%)
Return (%)
Return (%)
3.5
3.6
5.1
4.0
12.4
(2.0)
(9.4)
(3.1)
2.1
9.5
10.8
14.2
8.7
16.8
7.4
9.7
11.4
17.3
11.7
20.0
13.5
15.4
44.0 0.0
19.9 (24.1)
45.2 1.2
41.4 (2.6)
45.3 1.3
40.2 (3.8)
50.4 6.4
34.2 (9.8)
37.7 (6.3)
45.5 1.5
41.2 (2.8)
(35.6) 0.0
(25.4) 10.2
(40.0) (4.4)
(27.9) 7.7
(34.7) 0.9
(35.9) (0.3)
(33.1) 2.5
(26.4) 9.2
(36.2) (0.6)
(35.6) 0.0
(31.8) 3.8
(44.2)(13.2)
(46.9) 34.4
(34.5) (19.2)
(50.6) (8.3)
(31.1) (6.5)
(38.3) (21.4)
(48.1) (8.5)
(30.4) (15.4)
(39.1) (18.8)
(44.7) (8.4)
(37.1) (16.5)
32.2
29.0
37.1
42.8
11.7
32.8
―
28.3
36.7
30.1
35.0
12.2
26.9
14.8
14.9
5.0
14.8
―
4.1
14.5
14.3
11.8
96.8 0.0
88.4 (8.4)
100.3 3.5
79.3 (17.5)
50.4 (46.4)
109.1 12.3
90.0 (6.8)
85.7 (11.1)
104.3 7.5
77.4 (19.4)
97.9 1.1
(66.3) 0.0
(64.0) 2.3
(63.5) 2.8
(67.5) (1.2)
(34.9) 31.4
(66.8) (0.5)
(67.5) (1.2)
(55.6) 10.7
(66.9) (0.6)
(61.3) 5.0
(64.5) 1.8
(13.8) 0.0
(1.4) 12.4
(11.2) 2.6
(14.9) (1.1)
(1.8) 12.0
(13.6) 0.2
(13.4) 0.4
(7.6) 6.2
(13.4) 0.4
(11.1) 2.7
(12.0) 1.8
62.4
61.7
83.1
84.9
61.5
90.2
57.2
48.6
80.2
67.8
58.2
(46.3)
(46.1)
(48.6)
(49.9)
(42.2)
(51.1)
(43.3)
(42.3)
(44.1)
(43.8)
(45.0)
16.1
21.1
22.4
4.6
23.8
19.7
21.8
26.8
13.4
11.8
28.4
9.9
12.1
9.4
0.3
24.9
7.5
7.9
16.4
10.0
7.1
5.8
6.0
76.3 0.0 (54.4) 0.0
7.0
77.7 1.4
(54.3) 0.1
2.6
94.4 18.1 (55.6) (1.2)
15.7
98.2 21.9 (57.1) (2.7)
0.0
71.0 (5.3) (47.6) 6.8
4.9 103.3 27.0 (59.2) (4.8)
11.5
73.7 (2.6) (51.2) 3.2
(1.7)
63.2 (13.1) (49.6) 4.8
10.9
93.9 17.6 (52.9) 1.5
2.4
76.9 0.6 (51.6) 2.8
―
72.1 (4.2) (51.9) 2.5
0.2 0.0
1.8
1.6
4.9 4.7
(1.0) (1.2)
5.0 4.8
3.6 3.4
2.8
2.6
2.8 2.6
4.6 4.4
1.8
1.6
3.7 3.5
Telecommunications Sector Category Average 44.5
Fidelity Sel Comm Equip (FSDCX) 80.6
Fidelity Sel Telecommun (FSTCX) 51.5
Fidelity Sel Wireless (FWRLX) 59.0
GAMCO Glob Telecomm AAA (GABTX) 24.5
T. Rowe Price Med & Tele (PRMTX) 68.5
(44.2)
(48.5)
(47.7)
(49.7)
(40.6)
(46.5)
13.4
9.7
8.2
27.4
18.3
21.8
23.0 6.8
2.2 3.5
26.7 5.1
8.7 17.3
28.9 2.8
28.5 18.1
59.7 0.0 (53.7) 0.0
94.1 34.4 (58.4) (4.7)
51.1 (8.6) (52.5) 1.2
53.6 (6.1) (53.3) 0.4
47.6 (12.1) (52.4) 1.3
83.8 24.1 (53.9) (0.2)
(3.6) 0.0
3.0 0.0
0.7 4.3
1.5 (1.5)
(5.0) (1.4)
2.7 (0.3)
0.7 4.3
5.4 2.4
(4.4) (0.8)
3.0 0.0
3.2 6.8 10.7 7.7
I
Utilities Sector Category Average
AmCent Utilities Inv (BULIX)
FBR Gas Utility Index (GASFX)
Fidelity Sel Utlts Port (FSUTX)
Fidelity Telecom & Util (FIUIX)
Gabelli Utilities AAA (GABUX)
(32.9)
(31.2)
(28.3)
(36.0)
(34.6)
(20.9)
15.6
17.8
14.0
18.1
10.8
8.5
25.9 12.8
24.9 14.3
21.2 13.5
30.0 9.3
30.5 9.9
23.0 8.3
34.6 0.0 (43.2) 0.0
30.8 (3.8) (41.1) 2.1
43.3 8.7 (38.5) 4.7
31.8 (2.8) (45.0) (1.8)
27.4 (7.2) (44.5) (1.3)
35.5 0.9 (33.4) 9.8
(3.8) 0.0
(2.5) 1.3
0.4 4.2
(4.8) (1.0)
(7.0) (3.2)
(0.3) 3.5
C
Miscellaneous Sector Category Average 40.7 (37.5) 8.6
AIM Leisure Inv (FLISX) 31.6 (42.8) (0.9)
Fidelity Sel Automotive (FSAVX) 122.2 (61.3) 0.0
Fidelity Sel Chemicals (FSCHX) 65.3 (43.4) 28.4
Fidelity Sel Consum Staples (FDFAX) 20.9 (22.3) 21.4
Fidelity Sel Def & Aerospace (FSDAX) 24.8 (40.2) 17.8
Fidelity Sel Industrials (FCYIX) 38.9 (40.2) 17.7
Fidelity Sel IT Services (FBSOX) 59.0 (33.0) 11.5
Fidelity Sel Leisure (FDLSX) 24.2 (29.1) 4.1
Fidelity Sel Retailing (FSRPX) 57.8 (29.6) (8.0)
20
15.2
14.4
23.9
14.3
11.0
15.4
11.3
2.6
12.4
17.8
13.4
22.5
10.1
5.6
10.6
18.7
4.4
Bull Market
Return (%)
Fund Cat +/-
15.4
24.2
13.3
16.8
20.1
20.6
14.7
14.6
16.3
15.1
5.9
74.9 0.0
(1.3)
55.9 (19.0)
(1.8) 213.8138.9
1.1
78.7 3.8
5.8
39.7 (35.2)
17.9
57.8 (17.1)
12.3
80.3 5.4
6.1
67.8 (7.1)
4.0
44.7 (30.2)
7.1
70.5 (4.4)
(52.2) 0.0
(56.3) (4.1)
(77.4) (25.2)
(48.6) 3.6
(32.4) 19.8
(55.2) (3.0)
(55.5) (3.3)
(38.7) 13.5
(44.1) 8.1
(40.2) 12.0
1.5
0.2
0.1
6.2
3.2
3.3
4.7
4.1
(0.1)
3.7
0.9
0.0
(1.3)
(1.4)
4.7
1.7
1.8
3.2
2.6
(1.6)
2.2
(0.6)
(2.9) 0.0
(9.3) (6.4)
(4.9) (2.0)
6.3 9.2
4.5 7.4
(4.2) (1.3)
(0.8) 2.1
5.9 8.8
(2.8) 0.1
0.7 3.6
4.3
2.5
4.2
6.0
6.3
3.7
4.0
4.1
4.1
6.8
5.6
0.0
(1.8)
(0.1)
1.7
2.0
(0.6)
(0.3)
(0.2)
(0.2)
2.5
1.3
(1.2) 0.0
9.4 10.6
2.0 3.2
0.2 1.4
2.1 3.3
(0.3) 0.9
―
―
1.0 2.2
0.4 1.6
0.9 2.1
0.5 1.7
3.2 0.0
4.8 1.6
5.3 2.1
2.4 (0.8)
7.6 4.4
4.6 1.4
5.5 2.3
4.5 1.3
6.9 3.7
2.9 (0.3)
5.0 1.8
4.7 0.0
5.8 1.1
6.8 2.1
4.2 (0.5)
2.9 (1.8)
5.7 1.0
2.2
(1.8)
(0.9)
7.2
7.7
4.6
4.7
7.6
2.1
4.7
0.0
(4.0)
(3.1)
5.0
5.5
2.4
2.5
5.4
(0.1)
2.5
AAII Journal
10-Year
Return (%)
Fund Cat +/-
Yield
(%)
Tax-
Cost
Ratio
(%)
Risk
Index
Cat Total
Total
Assets
($ Mil)
Portfolio (%)
% of Portfolio
% of
Foreign
Ratio
of
Top 10 Ratio
Load Fee
Issues
(%)
(%)
6.6
0.0
3.9
11.4
―
3.0
―
0.6
―
8.6
9.2
0.0
(6.6)
(2.7)
4.8
―
(3.6)
―
(6.0)
―
2.0
2.6
0.4
0.0
0.2
0.0
1.4
0.2
0.0
0.0
0.9
0.0
1.5
0.6
0.0
1.3
0.9
0.6
0.0
0.1
0.0
0.2
0.9
1.0
1.00
1.05
0.95
0.95
0.91
0.93
0.88
1.19
0.87
1.01
0.87
1.00
1.05
0.95
0.95
0.91
0.93
0.88
1.19
0.87
1.01
0.87
1,440
1,051
1,623
1,255
206
681
19
47
450
2,054
11,755
97
100
99
98
99
97
97
99
98
99
93
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2
0
0
0
1
1
2
0
1
2
1
1
3
1
2
0
6
11.2
1.5
7.5
5.0
11.9
24.1
19.9
0.0
10.9
15.1
25.3
160
55
173
116
240
81
25
370
50
47
12
79
81
97
58
147
75
32
27
116
162
80
48.3
66.4
44.3
56.0
65.4
31.0
48.1
68.5
38.6
28.8
38.2
1.00
0.89
0.86
0.87
1.00
0.98
1.35
1.38
0.82
0.86
0.33
―
0.75R
0.75R
0.75R
0.75R
2.00R
―
―
2.00R
―
1.00R
―
―
―
―
―
―
―
―
―
―
―
10.7
18.9
11.2
―
―
10.4
―
10.3
11.0
11.5
10.4
0.0
8.2
0.5
―
―
(0.3)
―
(0.4)
0.3
0.8
(0.3)
2.8
3.5
3.0
0.9
4.8
2.1
2.5
3.4
4.0
1.3
4.3
1.9
2.9
2.2
2.0
2.2
1.5
―
2.7
1.6
1.4
1.6
1.00
1.06
1.03
0.74
0.42
1.11
0.85
0.92
1.10
0.80
1.06
1.91
2.02
1.97
1.42
0.81
2.11
1.62
1.75
2.11
1.53
2.03
733
1,261
2,095
357
698
2,699
463
74
2,090
1,476
3,763
91
100
97
99
21
99
94
100
91
81
100
2
0
0
0
51
0
0
0
3
3
0
3
0
0
0
20
0
3
0
5
8
0
3
1
3
1
8
1
3
0
2
9
1
21.1
5.0
2.3
98.7
3.5
1.9
61.1
0.0
1.6
63.9
0.0
113
218
99
55
47
74
38
18
15
24
10
93
23
55
63
355
46
385
36
46
43
100
43.2
67.2
49.3
51.2
15.3
52.7
24.2
43.8
41.6
52.6
43.5
1.09 ―
0.86 ―
1.00 2.00R
1.19 1.50R
1.00 0.75R
0.92 0.75R
0.65 2.00R
1.00 1.50R
0.75 1.00R
1.15 1.00R
0.26 1.00R
―
―
―
―
―
―
―
―
―
―
―
(6.8) 0.0
―
―
(4.9) 1.9
(4.9) 1.9
1.8
8.6
(5.4) 1.4
(7.5) (0.7)
(4.3) 2.5
―
―
(8.6) (1.8)
―
―
0.0
0.0
0.0
0.8
0.0
0.0
0.0
0.1
0.0
0.0
0.0
0.1
0.0
0.0
0.2
0.0
0.0
0.0
0.2
0.0
0.0
―
1.00
1.04
1.08
1.14
0.91
1.18
1.03
0.84
1.04
1.02
0.92
1.34
1.39
1.45
1.53
1.22
1.58
1.38
1.13
1.40
1.36
1.23
360
149
522
1,202
1,016
2,096
734
105
228
2,283
71
95
94
97
99
99
100
99
95
97
93
96
0
0
0
0
0
0
0
0
0
0
0
1
0
2
0
0
0
0
3
1
1
0
4
6
1
0
1
0
1
2
2
6
4
16.7
5.2
3.2
9.0
3.3
18.1
18.2
26.5
28.8
7.0
12.3
120
68
183
91
49
235
90
42
96
94
191
70
57
57
103
66
234
69
106
111
70
50
43.7
33.7
75.9
58.0
70.8
46.4
33.9
43.3
36.2
41.6
53.3
1.44
1.42
0.92
0.89
0.87
0.90
1.02
1.89
1.32
1.00
1.87
―
1.00R
0.75R
0.75R
0.75R
0.75R
2.00R
2.00R
―
―
―
―
0.25
―
―
―
―
―
―
―
―
―
(1.0) 0.0
(6.7) (5.7)
(6.1) (5.1)
―
―
(1.5) (0.5)
5.0
6.0
1.1
0.3
0.8
0.9
1.9
1.2
0.9
0.1
0.4
0.5
0.5
0.7
1.00
1.24
1.01
1.06
0.84
1.05
1.32
1.63
1.33
1.40
1.11
1.39
339
347
299
353
155
1,462
93
99
99
100
100
92
1
0
0
0
0
3
0
0
0
0
0
2
6
1
1
0
0
4
23.0
11.6
18.4
35.0
66.3
22.6
258
120
168
191
3
72
83
109
78
64
186
81
51.6
55.5
66.5
55.8
34.9
36.4
1.18 ―
0.95 0.75R
0.97 0.75R
0.95 0.75R
1.59 2.00R
0.90 ―
―
―
―
―
0.25
―
2.1
1.9
7.9
(1.0)
(1.8)
5.1
0.0
(0.2)
5.8
(3.1)
(3.9)
3.0
4.0
3.6
2.5
2.8
3.1
13.0
1.3
1.0
1.3
0.7
0.8
3.7
1.00
0.90
0.94
1.06
0.97
0.79
0.95
0.86
0.89
1.01
0.92
0.75
263
259
217
360
748
189
94
100
98
98
100
93
0
0
0
0
0
0
0
0
0
0
0
0
6
0
2
2
0
7
9.2
9.4
21.8
1.4
4.6
18.0
160
14
27
167
110
19
73
62
64
29
35
213
42.6
34.7
46.6
65.7
57.4
21.0
1.10 ―
0.70 ―
0.70 1.00R
0.89 0.75R
0.77 ―
1.43 2.00R
―
―
―
―
―
0.25
4.6
0.9
4.6
10.3
8.7
8.7
6.7
5.1
1.3
3.0
0.0
(3.7)
0.0
5.7
4.1
4.1
2.1
0.5
(3.3)
(1.6)
0.8
1.5
0.2
1.4
1.4
1.6
0.6
0.0
0.6
0.2
0.9
1.4
0.4
1.1
0.9
1.1
1.0
0.9
1.0
1.5
1.00
0.87
1.90
1.00
0.58
0.97
1.03
0.88
0.78
0.90
1.38
1.20
2.61
1.38
0.80
1.34
1.42
1.21
1.08
1.24
186
286
122
410
908
589
241
106
219
139
96
98
100
97
97
98
97
96
99
100
0
0
0
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
4
3
0
2
3
2
3
5
1
0
4.9
8.4
4.6
2.0
18.7
2.0
2.0
8.4
1.8
0.0
196
17
156
201
70
58
132
140
120
504
50
49
30
42
54
46
83
54
59
52
56.3
36.5
71.6
73.8
58.2
70.4
36.5
64.1
68.5
63.4
1.14 ―
1.37 ―
1.15 0.75R
0.91 0.75R
0.91 0.75R
0.88 0.75R
1.00 0.75R
1.00 0.75R
0.93 0.75R
1.07 0.75R
―
0.25
―
―
―
―
―
―
―
―
21
Closed
Index Fund
International Stock Funds
Fund Name (Ticker)
2009 2008 2007 2006 2005
Bull Market
Return (%)
Fund Cat +/-
Bear Market
3-Year
5-Year
Return (%)
Return (%)
Return (%)
Rydex Consumer Products Inv (RYCIX)
19.3 (23.1) 11.3
17.2 (0.6)
38.0 (36.9) (33.4) 18.8
I Global Stock Category Average
Dodge & Cox Global Stk (DODWX)
Fidelity Worldwide (FWWFX)
GAMCO Global Growth AAA (GICPX)
Janus Contrarian (JSVAX)
Janus Global Opps J (JGVAX)
Janus Global Research J (JARFX)
Janus Worldwide J (JAWWX)
Oakmark Global I (OAKGX)
Oakmark Global Select I (OAKWX)
T. Rowe Price Glob Stock (PRGSX)
Tweedy, Browne Glbl Val (TBGVX)
USAA World Growth (USAWX)
Vanguard Global Equity (VHGEX)
Vanguard TtlWldStk Idx (VTWSX)
Wintergreen (WGRNX)
33.9
49.1
28.5
42.9
37.0
31.9
45.1
37.6
40.1
53.5
44.7
37.8
31.3
32.9
33.2
32.7
(40.6)
―
(40.3)
(44.2)
(48.2)
(37.9)
(45.5)
(45.1)
(38.8)
(32.5)
(53.7)
(38.4)
(34.0)
(46.7)
―
(39.1)
12.8
―
18.4
17.6
21.2
12.1
26.7
9.2
7.3
(1.2)
20.3
7.5
9.3
11.6
―
21.1
20.0
―
17.4
12.5
24.5
11.1
18.4
17.9
24.1
―
22.5
20.1
23.9
23.5
―
20.1
13.1
―
13.5
13.7
16.0
4.0
―
5.8
13.2
―
22.7
15.4
7.7
11.7
―
―
57.4
93.8
55.0
62.9
67.8
56.2
66.4
61.9
73.6
83.0
66.1
53.6
61.5
67.0
64.4
54.9
C
I
C
I
I
I
I
I
I
Foreign Stock Category Average
AmCent Intl Disc Inv (TWEGX)
AmCent Intl Growth Inv (TWIEX)
Artisan International Inv (ARTIX)
Artisan Intl Sm Cap Inv (ARTJX)
Artisan Intl Val Inv (ARTKX)
Bernstein Tx-Mgd Intl (SNIVX)
Dodge & Cox Intl Stock (DODFX)
Fidelity Diversified Int (FDIVX)
Fidelity Intl Disc (FIGRX)
Fidelity Intl Sm Cp (FISMX)
Fidelity Overseas (FOSFX)
Fidelity Spar Intl Inv (FSIIX)
Harbor International Inv (HIINX)
HighMark Intl Opp M (HIOMX)
Janus Overseas J (JAOSX)
Longleaf Partners Intl (LLINX)
Masters’ Select Intl Intl (MSILX)
Northern MultiMgr Intl Eq (NMIEX)
Oakmark International I (OAKIX)
Oakmark Intl Small Cap I (OAKEX)
Schwab Intl Index (SWISX)
Scout International (UMBWX)
SSgA Intl Stock Sel (SSAIX)
T. Rowe Price Intl Disc (PRIDX)
T. Rowe Price Intl Stk (PRITX)
T. Rowe Price IntlGr&I (TRIGX)
T. Rowe Price Ovrsea Stk (TROSX)
T. Rowe Price Spect Intl (PSILX)
Third Avenue Intl Value Instl (TAVIX)
Thomas White Intl (TWWDX)
Tocqueville Intl Value (TIVFX)
USAA International (USIFX)
Vanguard Dev Mkts Idx (VDMIX)
Vanguard FTSE AWldexUS Iv (VFWIX)
Vanguard Intl Explorer (VINEX)
Vanguard Intl Gr Inv (VWIGX)
Vanguard Intl Value (VTRIX)
Vanguard Tax-Mgd Intl (VTMGX)
Vanguard Total Intl Stk Idx (VGTSX)
38.0
34.4
34.0
39.7
58.1
33.4
27.3
47.4
31.7
30.0
45.5
25.1
28.4
38.0
30.1
78.1
23.1
38.5
27.7
56.2
67.4
29.1
35.5
22.9
55.6
52.2
34.3
36.7
44.9
35.4
33.5
37.2
32.4
28.1
38.6
47.1
41.6
33.7
28.2
36.7
(45.9)
(52.2)
(45.3)
(47.0)
(51.4)
(30.2)
(49.1)
(46.7)
(45.3)
(44.3)
(46.6)
(47.4)
(41.5)
(42.9)
(44.9)
(52.8)
(39.6)
(45.5)
(40.0)
(41.1)
(45.8)
(41.9)
(38.1)
(41.5)
(50.0)
(48.1)
(45.0)
(45.1)
(46.4)
(37.3)
(43.5)
(34.9)
(35.3)
(41.7)
(44.1)
(46.7)
(45.0)
(41.8)
(41.3)
(44.1)
12.5
24.4
17.2
19.7
25.3
(0.7)
7.3
11.7
16.0
18.9
13.2
21.8
10.7
21.3
18.7
27.7
15.2
20.7
9.6
(0.6)
(8.4)
13.3
17.8
6.9
16.5
13.4
8.7
9.4
15.7
3.3
17.9
1.4
8.8
10.9
―
5.1
15.9
12.6
11.1
15.5
25.9
31.5
25.0
25.5
33.1
34.4
24.8
28.0
22.5
24.2
14.2
20.4
26.1
32.1
27.2
47.2
17.0
23.6
―
30.6
34.9
25.0
21.5
30.5
27.6
19.2
29.9
―
22.6
17.1
31.8
16.9
27.3
26.1
―
30.3
25.9
27.3
26.2
26.6
18.3
31.5
13.3
16.2
25.7
10.0
14.4
16.7
17.2
18.5
29.4
19.2
13.7
20.3
20.6
32.3
12.8
23.7
―
14.1
21.2
12.9
19.5
17.0
27.8
16.2
15.7
―
19.2
18.0
25.5
21.0
12.6
13.3
―
20.4
15.0
17.9
13.6
15.5
67.5 0.0
60.3 (7.2)
59.1 (8.4)
69.4 1.9
84.8 17.3
64.5 (3.0)
59.9 (7.6)
87.8 20.3
60.6 (6.9)
59.5 (8.0)
68.0 0.5
55.0 (12.5)
64.7 (2.8)
74.4 6.9
58.7 (8.8)
91.5 24.0
49.2 (18.3)
61.5 (6.0)
52.9 (14.6)
91.6 24.1
99.2 31.7
64.4 (3.1)
61.7 (5.8)
54.6 (12.9)
82.4 14.9
81.3 13.8
69.1 1.6
69.0 1.5
76.7 9.2
58.2 (9.3)
63.6 (3.9)
65.9 (1.6)
64.0 (3.5)
64.1 (3.4)
73.8 6.3
74.4 6.9
71.7 4.2
66.0 (1.5)
64.3 (3.2)
71.7 4.2
22
0.0 (51.8) 0.0
36.4
―
―
(2.4) (53.1) (1.3)
5.5
(52.6) (0.8)
10.4 (59.2) (7.4)
(1.2) (51.8) 0.0
9.0
(54.4) (2.6)
4.5
(57.0) (5.2)
16.2 (52.8) (1.0)
25.6 (47.9) 3.9
8.7
(60.9) (9.1)
(3.8) (47.0) 4.8
4.1
(47.9) 3.9
9.6 (60.8) (9.0)
7.0
―
―
(2.5) (49.9) 1.9
0.7
3.6
(4.0)
―
(3.1)
(2.1)
(4.9)
(2.8)
0.1
(6.2)
(2.7)
0.8
(6.9)
(3.0)
(1.8)
(7.5)
―
(0.7)
0.0
―
0.9
1.9
(0.9)
1.2
4.1
(2.2)
1.3
4.8
(2.9)
1.0
2.2
(3.5)
―
3.3
3.5
1.3
3.4 0.0
―
―
3.9 0.5
3.7 0.3
4.4 1.0
1.2 (2.2)
―
―
0.6 (2.8)
5.3 1.9
―
―
3.9 0.5
4.8 1.4
4.8 1.4
1.8 (1.6)
―
―
―
―
(58.6) 0.0
(5.9) 0.0
4.4 0.0
(63.8) (5.2) (7.2) (1.3)
6.7 2.3
(56.5) 2.1
(4.9) 1.0
4.0 (0.4)
(58.5) 0.1
(3.9) 2.0
5.3 0.9
(61.0) (2.4) (1.3) 4.6 10.0 5.6
(46.9) 11.7
(2.6) 3.3
6.5 2.1
(62.6) (4.0) (11.4) (5.5) (0.1) (4.5)
(59.9) (1.3) (4.3) 1.6
5.5 1.1
(57.5) 1.1
(5.8) 0.1
3.7 (0.7)
(57.0) 1.6
(4.9) 1.0
4.9 0.5
(58.4) 0.2
(4.2) 1.7
5.4 1.0
(60.2) (1.6) (7.1) (1.2)
2.9 (1.5)
(57.1) 1.5
(5.9) 0.0
3.6 (0.8)
(57.0) 1.6
(1.5) 4.4
8.7 4.3
(57.9) 0.7
(5.3) 0.6
5.5 1.1
(58.7) (0.1)
2.4 8.3 15.9 11.5
(52.8) 5.8
(5.0) 0.9
2.5 (1.9)
(57.1) 1.5
(3.1) 2.8
6.8 2.4
(52.7) 5.9
(5.7) 0.2
―
―
(54.9) 3.7
(2.9) 3.0
6.4 2.0
(60.0) (1.4) (5.9) 0.0
6.3 1.9
(56.9) 1.7
(5.3) 0.6
3.7 (0.7)
(49.7) 8.9
(0.4) 5.5
7.5 3.1
(57.5) 1.1
(8.4) (2.5)
3.2 (1.2)
(60.6) (2.0) (3.2) 2.7
8.2 3.8
(58.7) (0.1) (3.6) 2.3
4.4 0.0
(59.0) (0.4) (7.0) (1.1)
3.9 (0.5)
(58.2) 0.4
(6.4) (0.5) ―
―
(58.3) 0.3
(3.5) 2.4
5.6 1.2
(51.3) 7.3
(4.3) 1.6
3.9 (0.5)
(56.4) 2.2
(3.8) 2.1
8.0 3.6
(49.2) 9.4
(3.2) 2.7
5.1 0.7
(50.1) 8.5
(2.3) 3.6
6.0 1.6
(57.3) 1.3
(6.0) (0.1)
3.5 (0.9)
(58.4) 0.2
―
―
―
―
(59.5) (0.9) (6.2) (0.3)
5.3 0.9
(56.9) 1.7
(3.3) 2.6
5.5 1.1
(55.8) 2.8
(4.3) 1.6
5.7 1.3
(57.0) 1.6
(5.8) 0.1
3.7 (0.7)
(58.5) 0.1
(4.1) 1.8
5.2 0.8
AAII Journal
10-Year
Return (%)
Fund Cat +/-
Yield
(%)
Tax-
Cost
Ratio
(%)
Risk
Index
Cat Total
Total
Assets
($ Mil)
Portfolio (%)
% of Portfolio
% of
Foreign
Ratio
of
Top 10 Ratio
Load Fee
Issues
(%)
(%)
2.9
(1.7)
0.3
0.2
0.55
0.76
170
100
0
0
1
5.1
445
64
39.8
1.38
―
―
3.5
―
2.8
(4.1)
―
―
―
(4.4)
11.7
―
1.0
5.9
1.6
5.5
―
―
0.0
―
(0.7)
(7.6)
―
―
―
(7.9)
8.2
―
(2.5)
2.4
(1.9)
2.0
―
―
0.8
0.7
0.6
0.0
0.0
2.5
0.3
1.0
0.7
0.4
0.9
1.6
0.5
2.3
1.4
0.2
1.1
―
1.3
0.1
0.8
1.1
―
0.4
1.4
―
1.0
1.5
1.1
0.9
―
―
1.00
1.73
0.98
1.07
1.23
0.99
1.12
1.05
1.07
1.04
1.28
0.81
0.89
1.13
1.32
0.84
1.15
1.98
1.12
1.22
1.42
1.13
1.28
1.21
1.23
1.19
1.47
0.93
1.03
1.29
1.52
0.96
1,118
914
1,060
68
3,831
101
211
2,290
1,766
299
755
4,199
460
3,824
153
1,032
89
97
98
100
94
84
100
100
97
96
96
92
99
93
100
86
3
0
0
0
1
0
0
0
0
0
0
0
0
1
0
0
0
(5)
0
0
1
0
0
0
0
0
0
1
0
1
0
1
8
8
1
1
5
16
0
0
3
4
4
7
1
5
0
13
53.2
55.1
53.6
45.4
32.0
44.9
45.0
61.1
62.4
51.1
51.5
86.2
62.5
58.5
59.4
61.2
79
10
224
67
80
18
95
16
41
62
90
16
20
71
18
57
207
90
347
132
68
42
123
90
39
22
66
111
99
787
2,745
45
36.7
24.1
17.7
23.5
37.9
42.8
17.0
29.3
37.7
58.7
33.4
41.4
23.3
15.4
7.8
50.8
1.41
0.87
1.27
1.82
1.01
1.25
1.15
0.83
1.16
1.35
0.87
1.41
1.42
0.58
0.50
1.87
―
―
1.00R
2.00R
―
2.00R
2.00R
2.00R
2.00R
2.00R
2.00R
2.00R
―
―
2.00R
2.00R
―
―
―
0.25
―
―
―
―
―
―
―
―
―
―
―
0.20
2.4
3.6
(1.2)
1.8
―
―
2.1
―
3.9
3.3
―
(0.1)
1.0
6.8
2.2
4.9
7.4
3.9
―
8.1
10.1
0.4
4.5
1.5
4.9
(0.2)
3.7
―
1.8
―
4.3
5.8
3.7
―
―
5.7
2.4
4.4
1.2
2.2
0.0
1.2
(3.6)
(0.6)
―
―
(0.3)
―
1.5
0.9
―
(2.5)
(1.4)
4.4
(0.2)
2.5
5.0
1.5
―
5.7
7.7
(2.0)
2.1
(0.9)
2.5
(2.6)
1.3
―
(0.6)
―
1.9
3.4
1.3
―
―
3.3
0.0
2.0
(1.2)
(0.2)
1.8
0.8
0.8
1.2
0.7
1.8
1.8
1.4
1.2
1.2
0.5
1.5
2.2
1.0
2.5
0.9
0.0
0.5
0.6
0.7
1.4
2.7
1.1
3.0
0.6
2.1
2.3
2.2
2.1
1.2
1.2
1.1
1.1
1.1
1.9
1.5
1.7
2.4
2.4
2.4
1.3
3.0
0.6
1.3
1.9
1.2
1.5
1.0
0.8
0.8
2.0
1.2
0.9
0.8
1.3
0.7
0.9
2.5
―
2.3
3.2
1.0
0.7
1.0
1.2
1.2
1.2
―
1.4
1.5
1.1
1.7
1.2
0.6
―
1.2
1.4
1.1
0.2
0.5
1.00
1.14
0.93
1.02
1.14
0.79
0.97
1.09
0.97
0.93
1.05
0.98
0.95
1.03
0.96
1.23
0.91
0.95
0.89
0.99
1.12
0.95
0.87
0.92
1.02
1.05
0.99
0.98
1.03
0.88
0.96
0.84
0.86
0.95
1.07
1.01
0.99
0.95
0.95
1.00
1.32
1.50
1.23
1.35
1.50
1.04
1.27
1.44
1.28
1.23
1.39
1.30
1.26
1.36
1.27
1.62
1.20
1.25
1.17
1.30
1.48
1.25
1.14
1.21
1.35
1.39
1.30
1.29
1.36
1.17
1.27
1.11
1.13
1.25
1.41
1.34
1.31
1.25
1.25
1.32
2,492
894
1,295
7,894
717
1,883
5,281
36,758
32,049
8,598
704
6,721
5,555
3,208
140
7,516
2,160
1,241
2,742
4,393
867
1,451
4,952
1,340
2,193
5,699
2,643
2,002
485
1,441
391
137
1,350
3,124
835
2,046
11,309
6,830
1,410
26,044
97
100
99
99
97
88
97
98
96
100
97
98
96
93
98
99
98
99
91
96
95
99
97
100
93
96
99
100
97
96
99
96
99
100
99
94
95
95
100
99
0
0
0
0
0
2
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
0
1
0
0
0
0
0
0
0
0
0
0
3
0
0
0
1
1
0
0
1
0
0
1
0
0
0
1
0
0
4
0
0
1
1
0
1
0
1
3
0
0
1
3
9
2
2
4
0
3
2
4
4
2
1
2
0
8
4
5
0
3
0
6
4
1
0
2
4
1
1
2
0
0
5
5
5
0
0
95.1
98.7
99.0
94.5
97.1
75.5
97.3
91.9
88.9
98.0
96.7
94.5
95.7
93.4
97.8
78.2
87.9
93.4
89.7
95.0
95.3
99.1
94.0
99.6
93.2
91.5
98.9
99.4
95.3
88.8
98.1
89.9
98.6
99.7
99.3
94.2
94.9
95.0
99.8
99.0
82
175
144
82
58
55
84
35
54
98
81
115
4
17
134
50
44
114
70
41
50
10
16
122
65
65
17
21
5
16
54
63
22
14
9
29
51
55
16
12
277
133
151
85
60
44
169
100
332
230
365
150
1,003
103
350
87
21
79
305
60
68
349
96
137
222
119
155
175
8
44
142
60
74
974
2,149
247
187
244
942
1,755
22.5
19.0
17.6
28.3
38.5
40.1
17.5
27.3
15.9
16.7
9.9
20.3
13.4
24.6
11.3
34.5
66.6
21.9
19.1
29.4
30.7
16.2
16.0
21.6
14.8
20.7
19.7
17.3
100.0
43.0
17.6
29.0
32.4
13.4
9.3
15.7
20.1
18.8
13.7
10.5
1.18
1.53
1.41
1.22
1.51
1.25
1.12
0.64
1.01
1.12
1.48
1.02
0.10
1.19
1.32
0.90
1.60
1.07
1.47
1.10
1.41
0.19
1.02
1.00
1.24
0.87
0.90
0.93
0.98
1.40
1.47
1.56
1.31
0.29
0.40
0.42
0.53
0.47
0.20
0.34
―
2.00R
2.00R
2.00R
2.00R
2.00R
―
―
1.00R
1.00R
2.00R
1.00R
1.00R
2.00R
2.00R
2.00R
―
2.00R
2.00R
2.00R
2.00R
2.00R
2.00R
―
2.00R
2.00R
2.00R
2.00R
2.00R
2.00R
2.00R
2.00R
―
2.00R
2.00R
2.00R
2.00R
2.00R
1.00R
―
―
―
―
―
―
―
―
―
―
―
―
―
―
0.25
―
―
―
―
―
―
―
―
―
0.25
―
―
―
―
―
―
―
0.25
―
―
―
―
―
―
―
―
23
Closed
Index Fund
International Stock and Balanced Stock/Bond Funds
Fund Name (Ticker)
Wasatch International Opp (WAIOX)
2009 2008 2007 2006 2005
Bull Market
Return (%)
Fund Cat +/-
Bear Market
3-Year
5-Year
Return (%)
Return (%)
Return (%)
75.0 (54.8) 15.1
31.5
―
102.8 35.3
(65.4) (6.8)
(3.1)
2.8
―
―
I
I
I
I
Regional/Country Stock Category Average 56.5
Fidelity Canada (FICDX) 39.6
Fidelity China Region (FHKCX) 65.5
Fidelity Europe (FIEUX) 31.6
Fidelity Europe Cap Appre (FECAX) 32.0
Fidelity Latin America (FLATX) 91.5
Fidelity Pacific Basin (FPBFX)
59.3
Fidelity Southeast Asia (FSEAX) 39.2
Guinness Atkinson Chin&HK (ICHKX) 92.7
Matthews Asia Pacific (MPACX)
44.8
Matthews Asian Gr & Inc (MACSX) 41.4
Matthews China (MCHFX) 78.3
Matthews India (MINDX) 97.2
Matthews Pacific Tiger (MAPTX)
75.3
Metzler/Payden EuroEmMkts (MPYMX) 101.3
ProFunds Europe 30 Inv (UEPIX) 31.4
ProFunds UltraJapan Inv (UJPIX) 14.1
T. Rowe Price Em EurMedi (TREMX) 125.1
T. Rowe Price Euro Stock (PRESX) 34.4
T. Rowe Price Latin Amer (PRLAX) 114.3
T. Rowe Price New Asia (PRASX) 102.7
TRowe Prc Afr&Mddl East (TRAMX) 22.0
Vanguard Eur Stk Idx (VEURX) 31.9
Vanguard Pac Stk Idx (VPACX) 21.1
(50.0) 26.8
(42.7) 35.0
(44.9) 46.2
(44.1) 16.4
(46.3) 14.7
(54.7) 43.7
(55.8) 25.2
(51.9) 55.3
(54.5) 65.0
(37.5) 11.9
(32.1) 21.5
(49.0) 70.1
(62.4) 64.1
(46.2) 33.6
(66.6) 28.4
(44.5) 14.4
(72.7) (25.2)
(75.9) 27.9
(43.4) 15.3
(55.8) 48.9
(61.0) 66.3
(53.4) ―
(44.8) 13.8
(34.4) 4.7
26.7
15.0
29.6
25.1
35.4
44.3
16.1
37.1
39.6
17.3
23.3
64.8
36.4
27.2
46.2
17.0
13.9
34.7
31.5
51.2
36.1
―
33.4
11.9
28.2
27.8
14.4
18.1
16.2
55.1
32.5
33.5
6.6
18.8
15.7
6.9
―
22.5
37.9
7.6
90.5
59.0
8.9
60.0
26.4
―
9.2
22.5
89.4 0.0
61.6 (27.8)
83.9 (5.5)
61.7 (27.7)
62.2 (27.2)
103.8 14.4
100.3 10.9
60.3 (29.1)
121.0 31.6
78.8 (10.6)
53.1 (36.3)
98.0 8.6
140.6 51.2
108.3 18.9
164.3 74.9
65.9 (23.5)
82.8 (6.6)
167.2 77.8
66.3 (23.1)
133.1 43.7
128.7 39.3
58.1 (31.3)
70.9 (18.5)
51.7 (37.7)
(61.5) 0.0
(2.4) 0.0
7.4 0.0
(54.0) 7.5
2.6
5.0
9.7 2.3
(57.1) 4.4 10.1 12.5 14.6 7.2
(56.0) 5.5
(5.0) (2.6)
4.8 (2.6)
(58.0) 3.5
(6.7) (4.3)
5.0 (2.4)
(59.6) 1.9
7.7 10.1 22.8 15.4
(67.7) (6.2) (4.1) (1.7)
6.3 (1.1)
(63.8) (2.3)
1.3
3.7 13.7 6.3
(66.7) (5.2) 13.1 15.5 16.6 9.2
(53.6) 7.9
0.4
2.8
7.1 (0.3)
(38.1) 23.4
5.3
7.7 10.7 3.3
(60.0) 1.5 15.7 18.1 22.2 14.8
(66.2) (4.7)
6.8 9.2
―
―
(58.0) 3.5
8.1 10.5 14.5 7.1
(75.0) (13.5) (4.7) (2.3) 11.8 4.4
(58.4) 3.1
(5.8) (3.4)
1.0 (6.4)
(86.4) (24.9) (38.4) (36.0) (12.7) (20.1)
(78.4) (16.9) (11.4) (9.0)
8.3 0.9
(56.1) 5.4
(4.3) (1.9)
4.7 (2.7)
(61.6) (0.1) 12.2 14.6 27.9 20.5
(67.5) (6.0)
9.5 11.9 17.7 10.3
(61.0) 0.5
―
―
―
―
(59.7) 1.8
(6.1) (3.7)
3.8 (3.6)
(51.8) 9.7
(5.9) (3.5)
2.7 (4.7)
C
I
I
Emerging Stock Category Average
Bernstein Emerging Mkts (SNEMX)
Driehaus Emerg Mkts Grth (DREGX)
Fidelity Emerging Market (FEMKX)
Harding Loevner Emrg Mkt (HLEMX)
Lazard Emrg Mkt Eq Open (LZOEX)
Northern Emerging Mkts Eq (NOEMX)
Northern Mlt-Mgr EmgMktEq (NMMEX) SSgA Emerg Markets Instl (SSEMX)
T. Rowe Price Emg Mkt St (PRMSX)
USAA Emerging Markets (USEMX)
Vanguard Em Mkt Idx (VEIEX)
80.0
87.4
70.0
76.0
63.4
69.1
72.8
75.0
70.2
85.0
74.8
75.9
(59.5)
(56.6)
(54.5)
(60.9)
(52.4)
(48.1)
(53.1)
―
(56.4)
(60.6)
(51.7)
(52.9)
40.3
34.0
42.3
45.0
35.9
32.7
36.5
―
40.9
42.9
33.6
38.9
33.8
28.8
41.2
33.3
28.7
29.9
―
―
33.4
32.0
29.3
29.3
34.7
28.7
38.9
44.3
38.6
41.3
―
―
37.2
38.7
25.5
32.0
112.5 0.0
112.4 (0.1)
94.9 (17.6)
103.7 (8.8)
90.9 (21.6)
97.1 (15.4)
99.6 (12.9)
102.2 (10.3)
95.9 (16.6)
117.0 4.5
100.3 (12.2)
104.0 (8.5)
(67.5) 0.0
(64.7) 2.8
(62.3) 5.2
(68.1) (0.6)
(61.2) 6.3
(57.2) 10.3
(62.8) 4.7
―
―
(65.5) 2.0
(68.1) (0.6)
(60.3) 7.2
(62.7) 4.8
(1.0) 0.0
2.9
3.9
3.3 4.3
0.0
1.0
1.9
2.9
5.2 6.2
3.4 4.4
―
―
1.5
2.5
1.4
2.4
4.1 5.1
4.8 5.8
I
Balanced: Domestic Category Average
AmCent One Choice: Con (AOCIX)
AmCent One Choice: Vr Con (AONIX)
Berwyn Income (BERIX)
CGM Mutual (LOMMX)
Dodge & Cox Balanced (DODBX)
Fidelity Asset Mgr 20% (FASIX)
Fidelity Asset Mgr 50% (FASMX)
Fidelity Asset Mgr 70% (FASGX)
Fidelity Balanced (FBALX)
Fidelity Four-in-One Idx (FFNOX)
Fidelity Puritan (FPURX)
Fidelity Strategic RealRet (FSRRX)
FPA Crescent (FPACX)
FundX Flex Inc (INCMX)
Greenspring (GRSPX)
Hussman Strategic Tot Ret (HSTRX)
Janus Balanced (JABAX)
Janus Smart Port Conserv J (JSPCX)
22.1
15.8
10.5
30.2
15.8
28.3
19.5
30.9
35.6
28.0
25.0
26.6
28.4
28.3
9.0
15.8
5.8
24.2
23.3
(23.4)
(16.1)
(6.7)
(10.2)
(28.3)
(33.6)
(14.2)
(27.8)
(35.0)
(31.4)
(32.7)
(29.2)
(23.4)
(20.6)
(0.3)
(11.8)
6.3
(15.3)
(16.1)
7.0
7.0
5.7
6.8
38.4
1.7
4.7
6.3
7.2
8.9
6.1
6.1
3.7
6.8
4.9
5.3
12.6
10.1
10.1
11.0 5.6
10.0 3.7
7.5 2.4
8.6 1.9
5.5 14.6
13.8 6.5
7.3 6.1
9.1 4.0
10.3 3.7
11.6 10.6
15.4 6.4
14.7 4.6
4.8 ―
12.4 10.8
8.5 1.9
12.2 6.5
5.6 6.0
10.5 7.7
11.0 ―
35.0 0.0
26.8 (8.2)
17.1 (17.9)
33.4 (1.6)
29.9 (5.1)
52.1 17.1
22.4 (12.6)
40.9 5.9
51.6 16.6
42.4 7.4
48.9 13.9
40.4 5.4
34.8 (0.2)
35.4 0.4
10.3 (24.7)
23.6 (11.4)
8.5 (26.5)
31.3 (3.7)
29.7 (5.3)
(32.0) 0.0
(24.3) 7.7
(11.9) 20.1
(12.0) 20.0
(35.5) (3.5)
(45.7) (13.7)
(16.7) 15.3
(34.8) (2.8)
(44.2) (12.2)
(40.4) (8.4)
(45.8) (13.8)
(37.8) (5.8)
(27.6) 4.4
(25.4) 6.6
(2.2) 29.8
(19.6) 12.4
6.0 38.0
(21.4) 10.6
(20.7) 11.3
(0.2)
1.3
2.9
7.7
4.8
(4.7)
2.4
0.1
(1.9)
(1.4)
(3.7)
(1.6)
0.7
2.9
4.5
2.5
8.2
5.0
4.5
24
0.0
1.5
3.1
7.9
5.0
(4.5)
2.6
0.3
(1.7)
(1.2)
(3.5)
(1.4)
0.9
3.1
4.7
2.7
8.4
5.2
4.7
13.4 0.0
12.6 (0.8)
16.7 3.3
13.9 0.5
13.5 0.1
16.4 3.0
―
―
―
―
13.9 0.5
13.8 0.4
12.9 (0.5)
14.5 1.1
3.0
3.5
3.7
6.7
6.8
1.0
4.1
2.6
1.6
3.4
1.9
2.7
―
6.3
4.8
5.2
7.2
6.7
―
0.0
0.5
0.7
3.7
3.8
(2.0)
1.1
(0.4)
(1.4)
0.4
(1.1)
(0.3)
―
3.3
1.8
2.2
4.2
3.7
―
AAII Journal
10-Year
Return (%)
Fund Cat +/-
―
Yield
(%)
Tax-
Cost
Ratio
(%)
Risk
Index
Cat Total
Total
Assets
($ Mil)
Portfolio (%)
% of Portfolio
% of
Foreign
Ratio
of
Top 10 Ratio
Load Fee
Issues
(%)
(%)
―
0.9
―
1.17
1.54
115
86
0
1
13
84.6
69
146
19.6
2.25
4.9
11.2
7.2
3.1
3.5
14.9
0.2
6.9
9.5
―
13.7
17.1
―
11.5
―
(7.5)
―
―
1.8
18.4
8.8
―
1.9
(0.7)
0.0
6.3
2.3
(1.8)
(1.4)
10.0
(4.7)
2.0
4.6
―
8.8
12.2
―
6.6
―
(12.4)
―
―
(3.1)
13.5
3.9
―
(3.0)
(5.6)
1.2
1.0
0.8
1.8
1.8
1.3
0.7
1.7
0.9
1.7
2.8
0.3
0.6
0.8
0.2
1.1
0.0
0.0
3.4
0.8
0.5
2.2
3.8
2.6
1.2
0.5
0.8
1.7
2.0
0.7
1.1
1.1
0.8
0.8
2.1
1.2
―
1.6
1.6
0.8
2.1
1.5
2.3
0.6
1.5
―
0.7
0.3
1.00
0.94
1.00
0.78
0.80
1.13
1.04
0.92
1.18
0.81
0.64
1.07
1.33
1.01
1.31
0.80
1.57
1.40
0.80
1.18
1.22
1.09
0.83
0.69
1.62
1.52
1.61
1.26
1.29
1.83
1.68
1.50
1.91
1.30
1.03
1.74
2.16
1.63
2.13
1.29
2.54
2.26
1.30
1.92
1.98
1.76
1.34
1.12
1,117
3,453
2,403
2,435
535
4,638
633
1,848
241
227
2,545
2,561
700
3,560
205
17
19
663
727
2,925
3,959
199
6,424
3,079
94
99
97
99
99
100
99
99
100
99
67
100
96
100
86
99
71
97
99
97
95
91
99
99
0
0
0
0
0
0
0
0
0
0
6
0
0
0
0
0
0
0
0
0
0
7
0
0
1
0
0
0
0
0
0
0
0
2
27
0
4
0
2
0
0
0
0
0
2
0
0
0
5
1
3
1
1
0
1
1
0
0
0
0
0
0
12
1
29
3
1
3
3
3
1
0
93.6
99.4
97.3
93.8
94.0
99.6
99.1
99.1
100.0
97.8
72.8
100.0
96.1
100.0
85.1
91.2
70.9
96.6
99.4
95.7
95.1
97.4
98.6
99.4
162
123
88
135
111
52
91
220
27
37
25
8
27
17
133
2,221
1,299
40
88
21
60
93
18
8
104
103
123
160
161
75
170
194
45
61
83
64
56
75
82
35
5
45
71
49
103
41
482
500
33.7
39.5
31.3
22.2
21.9
49.6
23.0
24.3
42.5
26.9
23.6
27.9
30.3
23.4
45.5
47.7
70.9
47.0
23.0
59.6
24.6
42.0
19.7
19.1
1.35 ―
1.17 1.50R
1.12 1.50R
1.09 1.00R
1.10 1.00R
1.07 1.50R
0.90 1.50R
1.14 1.50R
1.53 2.00R
1.23 2.00R
1.16 2.00R
1.23 2.00R
1.29 2.00R
1.12 2.00R
1.48 2.00R
1.73 ―
1.73 ―
1.98 2.00R
1.01 2.00R
1.22 2.00R
0.96 2.00R
1.32 2.00R
0.29 2.00R
0.29 2.00R
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
9.5
12.3
12.0
7.9
11.7
11.2
―
―
9.4
9.3
7.9
9.8
0.0
2.8
2.5
(1.6)
2.2
1.7
―
―
(0.1)
(0.2)
(1.6)
0.3
0.6
0.7
0.0
0.5
0.3
2.2
1.1
0.4
2.0
0.5
0.6
1.2
1.5
2.6
2.4
0.5
0.5
2.2
―
―
1.6
1.0
1.1
0.4
1.00
0.91
0.85
0.97
0.85
0.84
0.89
0.79
0.91
1.01
0.86
0.90
1.86
1.70
1.58
1.81
1.59
1.57
1.66
1.48
1.70
1.88
1.61
1.69
1,475
2,064
575
4,166
1,672
3,471
1,146
1,597
1,542
4,573
663
7,765
93
95
99
98
98
92
91
92
92
97
97
98
0
0
0
0
0
0
0
0
0
0
0
0
1
4
0
0
0
2
5
1
2
1
0
2
7
1
1
2
2
7
4
7
6
2
2
0
92.3
94.7
99.3
97.4
96.8
91.6
91.2
91.3
90.8
97.1
97.4
97.4
148
70
313
88
46
43
30
24
61
37
76
12
220
209
91
213
77
86
860
327
408
125
339
783
27.6
22.3
22.1
21.4
25.7
30.8
16.6
27.2
23.7
24.2
18.6
14.5
1.57
1.51
1.77
1.16
1.64
1.54
0.76
1.50
1.23
1.24
1.79
0.39
―
―
2.00R
1.50R
2.00R
1.00R
2.00R
2.00R
―
2.00R
―
0.25R
―
―
―
―
―
0.25
―
―
0.25
―
―
―
4.0
―
―
8.6
3.4
6.2
4.5
2.4
0.7
5.2
1.0
4.1
―
10.6
―
8.2
―
4.0
―
0.0
―
―
4.6
(0.6)
2.2
0.5
(1.6)
(3.3)
1.2
(3.0)
0.1
―
6.6
―
4.2
―
0.0
―
2.0
2.2
2.3
4.5
1.8
2.4
2.6
2.2
1.6
2.3
2.0
2.6
2.0
1.2
4.4
3.7
0.8
1.3
3.1
1.2
1.2
1.2
1.8
2.0
1.1
1.6
1.7
0.8
1.3
0.8
1.5
―
1.1
1.4
1.0
1.6
0.9
―
1.00
0.74
0.47
0.65
1.56
1.37
0.55
1.04
1.33
1.18
1.33
1.06
1.01
0.96
0.27
0.90
0.59
0.81
0.73
0.68
0.51
0.32
0.45
1.07
0.94
0.38
0.71
0.91
0.81
0.91
0.73
0.70
0.65
0.19
0.61
0.40
0.55
0.50
2,291
294
142
692
547
15,468
2,507
6,134
2,270
18,108
2,094
16,792
5,026
2,491
174
528
1,396
3,578
120
53
44
24
28
71
72
19
49
68
59
84
67
13
31
8
37
4
58
33
33
37
41
48
28
24
53
39
22
31
12
26
56
25
82
26
60
38
54
4
9
10
12
0
2
6
6
6
2
0
0
3
3
6
26
0
1
8
9
10
25
13
1
2
22
7
4
9
4
7
27
41
4
12
35
3
6
12.2
16.4
11.8
2.5
6.1
12.3
10.6
20.5
27.0
10.5
25.4
5.6
2.3
15.1
18.6
2.0
1.6
24.0
11.8
67
40
42
64
466
27
16
15
13
198
21
116
38
32
125
47
36
158
90
469
12
11
89
22
343
2,021
2,021
2,021
1,783
4
1,696
725
118
20
93
38
306
13
44.0
96.4
99.0
29.3
61.0
24.3
40.4
20.4
14.1
13.9
100.0
16.2
14.1
23.1
70.7
29.2
73.4
18.2
93.4
0.95
0.78
0.69
0.76
1.05
0.53
0.58
0.78
0.89
0.68
0.20
0.67
0.77
1.50
1.75
1.18
0.79
0.79
0.96
―
―
―
1.00R
―
―
―
―
―
―
―
―
0.75R
2.00R
2.00R
2.00R
1.50R
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
2.00R ―
25
Closed
Index Fund
Balanced Stock/Bond and Target Date Funds
Fund Name (Ticker)
2009 2008 2007 2006 2005
Bull Market
Return (%)
Fund Cat +/-
Bear Market
3-Year
5-Year
Return (%)
Return (%)
Return (%)
C
I
Leuthold Core Investment (LCORX)
Manning & Napier PB Con S (EXDAX)
Manning & Napier PB Ext S (MNBAX)
Manning & Napier PB Mod S (EXBAX)
Oakmark Equity & Inc I (OAKBX)
Pax World Balanced (PAXWX)
Permanent Port (PRPFX)
Schwab MarketTrack Cons (SWCGX)
T. Rowe Price Balanced (RPBAX)
T. Rowe Price Cap Apprec (PRWCX)
T. Rowe Price Pers Str Inc (PRSIX)
Value Line Inc & Gr (VALIX)
Vanguard Asset Alloc (VAAPX)
Vanguard Bal Idx (VBINX)
Vanguard LifeSt Cons Gr (VSCGX)
Vanguard LifeSt Growth (VASGX)
Vanguard LifeSt Income (VASIX)
Vanguard LifeSt Mod Grth (VSMGX)
Vanguard STAR (VGSTX)
Vanguard Tax-Mgd Bal (VTMFX)
Vanguard Wellesley Inc (VWINX)
Vanguard Wellington (VWELX)
27.4
10.9
24.3
18.9
19.8
21.3
19.0
14.1
28.2
33.0
25.4
23.0
17.9
20.0
17.0
24.9
12.0
20.3
24.8
19.1
16.0
22.2
(27.5) 19.0
(5.1) 6.4
(25.4) 6.9
(18.5) 6.3
(16.2) 11.9
(30.8) 9.4
(8.4) 12.4
(18.4) 4.9
(28.5) 7.1
(27.2) 4.5
(20.4) 7.2
(21.6) 7.8
(36.4) 6.5
(22.3) 6.1
(19.6) 6.9
(34.4) 7.4
(10.6) 6.7
(26.5) 7.3
(25.2) 6.5
(18.4) 5.1
(9.9) 5.6
(22.3) 8.3
12.2 14.5
8.5 4.2
17.1 7.5
13.9 6.4
10.8 8.6
10.7 5.3
13.8 7.6
9.5 3.9
13.7 5.5
14.5 6.8
9.6 5.1
11.0 9.9
16.0 5.0
11.0 4.6
10.6 4.4
16.1 6.8
7.9 3.2
13.3 5.6
11.6 7.4
9.0 4.8
11.2 3.4
14.9 6.8
40.7 5.7
16.9 (18.1)
39.7 4.7
29.3 (5.7)
31.6 (3.4)
32.2 (2.8)
27.8 (7.2)
26.2 (8.8)
43.6 8.6
48.1 13.1
34.9 (0.1)
33.9 (1.1)
42.5 7.5
35.3 0.3
28.9 (6.1)
49.6 14.6
18.6 (16.4)
38.4 3.4
40.7 5.7
27.7 (7.3)
27.9 (7.1)
38.1 3.1
Balanced: Global Category Average
AmCent One Choice: Agg (AOGIX)
AmCent One Choice: Mod (AOMIX)
Fidelity Global Balanced (FGBLX)
Janus Smart Port Growth J (JSPGX)
PIMCO All Asset D (PASDX)
PIMCO AllAssetAllAuthor D (PAUDX)
USAA Cornerstone Strat (USCRX)
Vanguard MgdPyt Gr&DisInv (VPGDX) 24.6
26.6
21.7
22.5
35.7
22.4
18.9
34.6
23.5
(27.4)
(33.9)
(26.0)
(23.3)
(35.0)
(16.0)
(7.6)
(34.5)
―
9.1
13.6
9.8
13.7
15.7
7.9
9.4
6.0
―
11.5
14.4
12.9
13.7
18.5
4.6
2.4
13.8
―
7.0
8.5
6.5
9.0
―
5.8
―
5.5
―
40.6 0.0 (37.0) 0.0
44.4 3.8 (43.7) (6.7)
36.8 (3.8) (35.6) 1.4
39.3 (1.3) (34.6) 2.4
50.7 10.1 (43.1) (6.1)
33.5 (7.1) (23.3) 13.7
29.4 (11.2) (15.1) 21.9
56.0 15.4 (46.0) (9.0)
41.0 0.4
―
―
Target Date: 2000-2014 Category Average
Fidelity Freedom 2000 (FFFBX)
Fidelity Freedom 2005 (FFFVX)
Fidelity Freedom 2010 (FFFCX)
Fidelity Freedom Income (FFFAX)
T. Rowe Price Rtmt 2005 (TRRFX)
T. Rowe Price Rtmt 2010 (TRRAX)
T. Rowe Price Rtmt Inc (TRRIX)
Vanguard Target Rtmt 2005 (VTOVX)
Vanguard Target Rtmt 2010 (VTENX)
Vanguard Target Rtmt Inc (VTINX)
18.4
16.4
23.3
24.8
16.1
24.5
27.9
22.0
16.1
19.3
14.2
(19.3)
(14.0)
(24.5)
(25.4)
(12.2)
(22.3)
(26.8)
(18.4)
(15.9)
(20.7)
(11.0)
6.6
5.3
7.2
7.4
4.8
6.6
6.6
6.0
8.1
7.7
8.1
9.3
6.7
9.2
9.4
6.3
11.5
12.8
9.9
8.2
―
6.3
4.5
4.0
5.6
5.9
3.7
5.5
6.2
4.8
3.5
―
3.3
28.0
22.0
35.1
37.7
20.9
36.3
41.8
31.1
26.4
33.2
21.9
0.0
(6.0)
7.1
9.7
(7.1)
8.3
13.8
3.1
(1.6)
5.2
(6.1)
Target Date: 2015-2029 Category Average
Fidelity Freedom 2015 (FFVFX)
Fidelity Freedom 2020 (FFFDX)
Fidelity Freedom 2025 (FFTWX)
T. Rowe Price Rtmt 2015 (TRRGX)
T. Rowe Price Rtmt 2020 (TRRBX)
T. Rowe Price Rtmt 2025 (TRRHX)
Vanguard Target Rtmt 2015 (VTXVX)
Vanguard Target Rtmt 2020 (VTWNX)
Vanguard Target Rtmt 2025 (VTTVX)
25.7
25.6
28.8
30.0
31.3
34.2
36.3
21.2
23.1
24.8
(29.1)
(27.2)
(32.2)
(33.7)
(30.3)
(33.5)
(36.0)
(24.1)
(27.1)
(30.1)
7.0
7.8
8.5
8.6
6.7
6.7
6.8
7.5
7.5
7.5
12.5
10.3
11.6
11.8
13.7
14.6
15.4
11.4
―
13.2
6.4
7.0
7.7
8.1
6.6
7.1
7.4
4.9
―
5.4
42.3
39.2
46.0
48.6
47.3
52.1
56.1
37.9
41.9
46.0
0.0 (39.6) 0.0
(3.1) (36.2) 3.4
3.7 (42.3) (2.7)
6.3 (44.2) (4.6)
5.0 (39.9) (0.3)
9.8 (43.6) (4.0)
13.8 (46.5) (6.9)
(4.4) (34.9) 4.7
(0.4) (38.7) 0.9
3.7
(42.4) (2.8)
31.4 (36.0)
30.5 (37.0)
31.2 (37.8)
7.6
9.2
9.2
14.8
12.9
12.9
7.9
8.8
9.0
53.6 0.0 (48.1) 0.0
52.0 (1.6) (48.3) (0.2)
53.6 0.0
(49.3) (1.2)
Target Date: 2030+ Category Average
Fidelity Freedom 2030 (FFFEX)
Fidelity Freedom 2035 (FFTHX)
26
(33.1) (1.1)
(9.9) 22.1
(35.4) (3.4)
(26.4) 5.6
(24.7) 7.3
(37.7) (5.7)
(15.1) 16.9
(27.6) 4.4
(37.7) (5.7)
(36.4) (4.4)
(27.2) 4.8
(29.4) 2.6
(49.2) (17.2)
(32.5) (0.5)
(27.9) 4.1
(47.5) (15.5)
(15.3) 16.7
(37.8) (5.8)
(35.6) (3.6)
(25.1) 6.9
(18.8) 13.2
(32.5) (0.5)
(26.9) 0.0
(18.8) 8.1
(32.7) (5.8)
(34.0) (7.1)
(16.2) 10.7
(30.4) (3.5)
(35.7) (8.8)
(25.1) 1.8
(23.4) 3.5
(30.3) (3.4)
(16.4) 10.5
3.2
3.9
(0.3)
1.0
3.9
(2.8)
7.0
(0.8)
(0.6)
0.4
2.3
1.3
(7.2)
(0.3)
0.2
(4.2)
2.2
(1.8)
(0.2)
0.7
3.3
0.9
3.4
4.1
(0.1)
1.2
4.1
(2.6)
7.2
(0.6)
(0.4)
0.6
2.5
1.5
(7.0)
(0.1)
0.4
(4.0)
2.4
(1.6)
0.0
0.9
3.5
1.1
(0.6) 0.0
(1.7) (1.1)
(0.4) 0.2
2.2 2.8
0.7
1.3
3.5 4.1
6.3 6.9
(2.2) (1.6)
―
―
7.1
4.8
4.5
4.5
6.2
1.4
8.4
2.1
3.3
4.4
4.3
4.9
(0.6)
2.8
3.1
1.8
3.5
2.6
3.6
3.1
4.9
4.7
4.1
1.8
1.5
1.5
3.2
(1.6)
5.4
(0.9)
0.3
1.4
1.3
1.9
(3.6)
(0.2)
0.1
(1.2)
0.5
(0.4)
0.6
0.1
1.9
1.7
2.9 0.0
3.4 0.5
3.5 0.6
5.8 2.9
―
―
4.2 1.3
5.5 2.6
2.3 (0.6)
―
―
0.9
1.8
0.0
0.0
2.2
1.0
0.0
1.8
1.8
0.6
3.2
0.0
0.9
(0.9)
(0.9)
1.3
0.1
(0.9)
0.9
0.9
(0.3)
2.3
3.4
3.2
2.9
3.0
3.3
3.9
3.7
4.0
3.4
―
3.8
0.0
(0.2)
(0.5)
(0.4)
(0.1)
0.5
0.3
0.6
0.0
―
0.4
(1.6)
(0.5)
(1.8)
(2.2)
(0.8)
(1.6)
(2.3)
(0.4)
(1.2)
(2.1)
0.0
1.1
(0.2)
(0.6)
0.8
0.0
(0.7)
1.2
0.4
(0.5)
2.7 0.0
3.1 0.4
2.6 (0.1)
2.5 (0.2)
3.4 0.7
3.2 0.5
2.9 0.2
2.9 0.2
―
―
2.3 (0.4)
(3.3) 0.0
(3.5) (0.2)
(3.8) (0.5)
2.3 0.0
2.0 (0.3)
1.9 (0.4)
AAII Journal
10-Year
Return (%)
Fund Cat +/-
Yield
(%)
Tax-
Cost
Ratio
(%)
Risk
Index
Cat Total
Total
Assets
($ Mil)
Portfolio (%)
% of Portfolio
% of
Foreign
Ratio
of
Top 10 Ratio
Load Fee
Issues
(%)
(%)
9.0
6.1
6.3
6.0
9.8
2.2
9.8
3.0
3.5
9.2
5.2
4.0
1.4
2.6
3.6
1.3
4.6
2.7
5.1
2.7
6.9
6.1
5.0
2.1
2.3
2.0
5.8
(1.8)
5.8
(1.0)
(0.5)
5.2
1.2
0.0
(2.6)
(1.4)
(0.4)
(2.7)
0.6
(1.3)
1.1
(1.3)
2.9
2.1
0.2
1.3
1.0
1.0
1.2
1.5
0.7
2.5
2.3
2.2
2.4
1.3
1.7
2.7
2.8
2.1
3.1
2.4
2.5
2.7
4.4
3.1
1.5
1.0
1.3
1.2
1.0
0.9
0.3
1.2
1.4
1.3
1.2
1.4
0.4
0.8
1.0
0.5
1.2
0.8
1.2
0.5
1.5
1.2
1.24
0.44
1.10
0.82
0.84
1.09
0.93
0.76
1.13
1.26
0.87
0.94
1.37
0.96
0.81
1.39
0.53
1.08
1.07
0.79
0.67
1.01
0.85
0.30
0.75
0.56
0.58
0.75
0.64
0.52
0.77
0.86
0.59
0.64
0.94
0.65
0.55
0.95
0.36
0.74
0.73
0.54
0.46
0.69
973
375
562
472
15,609
1,838
4,983
186
2,625
8,784
819
340
7,966
3,431
5,698
7,005
1,834
7,911
12,684
669
8,478
28,290
74
24
60
44
62
72
31
40
65
61
45
57
64
59
41
81
21
61
60
49
38
65
13
67
39
48
32
25
31
50
32
16
40
14
8
37
46
11
64
29
33
51
59
33
3
1
0
0
0
1
25
0
1
9
1
6
2
1
2
1
2
1
1
0
0
0
10
8
1
8
6
2
13
10
2
14
14
24
26
3
12
7
13
9
7
1
3
2
41.5
7.0
14.6
12.0
12.8
18.2
11.6
13.4
17.8
5.5
22.5
9.2
0.1
2.9
8.8
15.9
4.9
11.9
19.9
0.1
17.8
19.1
117
47
62
58
65
54
37
16
58
94
67
86
16
50
29
12
27
25
21
19
53
30
172
592
500
511
127
296
143
7
1,241
218
1,272
523
539
7,449
6
5
5
5
12
876
517
543
31.1
25.5
21.2
23.8
31.9
18.1
39.3
99.2
13.5
30.9
34.4
10.1
35.0
11.2
100.0
100.0
100.0
100.0
95.7
8.7
17.9
16.3
1.38
0.90
1.10
1.10
0.81
0.95
0.84
0.86
0.69
0.74
0.72
1.05
0.39
0.25
0.22
0.21
0.22
0.22
0.32
0.15
0.33
0.35
2.00R
―
―
―
―
―
―
2.00R
―
―
―
―
―
―
―
―
―
―
―
1.00R
―
―
―
―
―
―
―
0.25
―
―
―
―
―
0.25
―
―
―
―
―
―
―
―
―
―
2.8
―
―
4.7
―
―
―
3.4
―
0.0
―
―
1.9
―
―
―
0.6
―
3.4
1.4
1.8
1.1
1.7
7.3
7.7
3.0
5.3
1.4
1.0
1.1
1.5
―
2.1
―
1.8
―
1.00
1.03
0.83
0.88
1.12
0.79
0.73
1.09
1.20
0.85
0.88
0.71
0.75
0.95
0.68
0.62
0.93
1.02
364
408
620
447
199
302
213
1,947
178
54
77
62
62
59
0
(4)
62
69
38
16
25
31
17
116
130
33
21
7
4
6
0
20
14
15
4
0
0
3
7
7
4
(30)
(40)
1
11
26.5
22.5
19.9
61.8
16.7
18.4
13.6
30.0
25.8
93
27
32
252
55
89
117
162
73
314
13
14
881
16
32
30
2,594
12
72.7
94.7
91.0
14.9
86.7
77.1
93.5
10.2
98.4
1.00
0.96
0.87
1.24
1.06
1.26
1.39
1.46
0.29
―
―
―
1.00R
―
―
―
―
―
―
―
―
―
―
0.25
0.25
―
―
3.1
3.1
―
2.7
3.6
―
―
―
―
―
―
0.0
0.0
―
(0.4)
0.5
―
―
―
―
―
―
2.7
2.5
2.3
2.4
2.6
3.1
2.8
2.9
2.5
2.4
2.6
1.2
1.4
1.2
1.3
1.4
1.2
1.1
1.3
1.0
―
1.2
1.00
0.72
1.21
1.28
0.65
1.19
1.39
1.00
0.96
1.18
0.79
0.52
0.38
0.64
0.68
0.35
0.63
0.74
0.53
0.51
0.62
0.42
2,224
1,693
1,010
11,252
2,685
860
3,820
1,370
1,965
3,440
2,745
37
24
47
51
21
49
59
42
38
51
30
49
47
37
36
49
42
34
45
55
45
61
2
2
2
3
2
1
1
1
1
1
1
12
27
14
11
28
8
6
12
6
3
9
14.2
5.2
13.4
15.3
5.0
20.1
21.3
17.8
10.2
12.8
8.6
36
33
43
39
35
37
27
32
44
41
14
16
24
25
25
22
15
17
15
8
7
8
90.3
87.8
76.4
73.9
88.7
92.2
85.8
93.2
100.0
100.0
100.0
0.51
0.49
0.63
0.64
0.48
0.60
0.64
0.58
0.18
0.19
0.19
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
0.6
―
1.7
―
―
―
―
―
―
―
0.0
―
1.1
―
―
―
―
―
―
―
2.0
2.2
2.3
2.0
2.2
2.0
1.7
2.4
2.2
2.2
1.0
1.2
1.2
1.1
1.0
1.0
0.9
0.8
―
0.6
1.00
0.89
1.05
1.10
1.03
1.13
1.22
0.87
0.96
1.06
0.81
0.72
0.85
0.89
0.83
0.91
0.98
0.71
0.78
0.85
4,827
8,560
20,182
8,881
4,018
7,132
4,011
10,405
6,577
10,949
61
54
65
71
67
74
81
61
68
76
27
34
28
24
27
21
15
35
29
22
6
2
2
2
1
1
1
1
1
1
5
10
5
4
5
4
3
3
3
2
18.4
15.8
18.3
19.4
22.4
23.2
24.1
14.7
15.9
16.9
30
36
35
29
24
18
17
37
27
21
422
25
25
23
17
17
17
6
6
6
79.9
74.0
76.7
78.3
85.2
86.0
88.1
100.0
100.0
100.0
0.67
0.67
0.72
0.74
0.69
0.73
0.76
0.18
0.19
0.18
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
0.8
0.8
―
0.0
0.0
―
1.5
1.9
1.7
0.9
1.1
1.0
1.00
0.95
0.98
1.02
0.97
1.00
2,626
14,111
5,734
75
78
82
11
18
14
12
1
1
3
3
3
19.6
21.0
21.7
17
23
20
288
23
22
87.4
79.7
80.7
0.67 ―
0.76 ―
0.78 ―
―
―
―
27
Closed
Index Fund
Target Date and Bond Funds
Fund Name (Ticker)
2009 2008 2007 2006 2005
Bear Market
3-Year
5-Year
Return (%)
Return (%)
Return (%)
Fidelity Freedom 2040 (FFFFX)
Fidelity Freedom 2045 (FFFGX)
Fidelity Freedom 2050 (FFFHX)
T. Rowe Price Rtmt 2030 (TRRCX)
T. Rowe Price Rtmt 2035 (TRRJX)
T. Rowe Price Rtmt 2040 (TRRDX)
T. Rowe Price Rtmt 2045 (TRRKX)
T. Rowe Price Rtmt 2055 (TRRNX)
T. Rowe Price Rtmt 2050 (TRRMX)
Vanguard Target Rtmt 2030 (VTHRX)
Vanguard Target Rtmt 2035 (VTTHX)
Vanguard Target Rtmt 2040 (VFORX)
Vanguard Target Rtmt 2045 (VTIVX)
Vanguard Target Rtmt 2050 (VFIFX)
31.6
32.0
32.4
38.0
39.0
39.1
39.0
39.0
38.9
26.7
28.1
28.3
28.1
28.3
(38.8)
(39.2)
(40.7)
(37.8)
(38.9)
(38.9)
(38.9)
(38.9)
(38.8)
(33.0)
(34.7)
(34.6)
(34.6)
(34.7)
9.3
9.5
9.7
6.8
6.8
6.7
6.8
6.8
6.8
7.4
7.4
7.4
7.4
7.4
13.4
―
―
16.1
16.1
16.2
16.1
―
―
―
15.2
―
15.9
―
Corporate High-Yield Bond Category Average
Buffalo High-Yield (BUFHX)
Fidelity Float Rt Hi Inc (FFRHX)
Fidelity Focused Hi Inc (FHIFX)
Fidelity High Income (SPHIX)
Iron Strategic Income (IFUNX)
Janus High-Yield J (JAHYX)
Northern High Yield F\I (NHFIX)
Nubrgr Brmn HInc Bd Inv (NHINX)
Pax World High Yield (PAXHX)
Payden High Income (PYHRX)
T. Rowe Price Hi-Yld (PRHYX)
TIAA-CREF HiYld Rtl (TIYRX)
Vanguard Hi-Yld Corp (VWEHX)
WF Adv S/T H/Y Bd Inv (STHBX)
39.6
44.0
72.1
28.8
35.0
51.4
35.5
40.8
33.5
51.5
38.7
31.7
49.1
41.5
39.0
15.2
(20.8)
(21.3)
(31.9)
(16.5)
(20.5)
(23.8)
(8.1)
(19.4)
(19.4)
(19.1)
(20.7)
(20.4)
(24.5)
(19.6)
(21.3)
(5.9)
2.5
3.7
3.7
2.6
3.0
2.3
5.4
1.3
1.3
1.6
5.8
2.6
3.1
3.6
2.0
3.2
9.6 2.2
8.6 (0.9)
13.0 5.0
6.4 4.2
8.5 2.8
10.7 3.4
―
―
11.1 2.7
10.0 1.7
8.0 1.6
10.1 2.3
8.8 2.3
9.7 3.4
―
―
8.2 2.7
5.9 2.9
37.0 0.0
39.4 2.4
71.5 34.5
20.2 (16.8)
28.3 (8.7)
46.4 9.4
31.4 (5.6)
37.3 0.3
28.1 (8.9)
46.5 9.5
28.4 (8.6)
26.6 (10.4)
44.3 7.3
38.5 1.5
35.4 (1.6)
10.5 (26.5)
C
Convertible Bond Category Average
Fidelity Convertible Sec (FCVSX)
Northern Income Equity (NOIEX)
Osterweis Strategic Inc (OSTIX)
Vanguard Convertible Sec (VCVSX)
38.0
64.1
32.2
24.8
40.8
(29.3) 8.9
(47.8) 16.2
(30.9) 5.4
(5.6) 3.4
(29.8) 10.6
13.2
15.1
18.2
9.9
12.9
4.9
5.9
5.8
2.6
6.6
45.7 0.0 (34.1) 0.0
78.9 33.2 (54.1) (20.0)
51.6 5.9 (41.7) (7.6)
22.6 (23.1)
(3.9) 30.2
42.3 (3.4) (33.0) 1.1
Mortgage-Backed Bond Category Average
AmCent Ginnie Mae Inv (BGNMX)
Fidelity Ginnie Mae (FGMNX)
Fidelity Mtg Sec (FMSFX)
Payden GNMA (PYGNX)
PIMCO GNMA D (PGNDX)
Schwab GNMA (SWGSX)
T. Rowe Price GNMA (PRGMX)
TCW Total Return Bond N (TGMNX)
USAA GNMA (USGNX)
Vanguard GNMA (VFIIX)
6.8
5.6
6.9
9.5
6.4
9.3
5.7
6.3
19.5
5.4
5.2
I
Gov’t Bond: Short-Term Category Average 1.6
AmCent S/T Gov Inv (TWUSX)
2.6
AmCent Target 2010 Inv (BTTNX)
0.0
Fid Spt S/T Tr Bd Ix Inv (FSBIX)
(0.2)
Northern Sh-Int US Govt (NSIUX)
0.9
Payden U.S. Government (PYUSX)
2.8
Vanguard Short-Tm Trs (VFISX)
1.4
Vanguard ShtTm Fed (VSGBX)
2.7
28
9.0
―
―
8.1
8.0
8.1
―
―
―
―
6.3
―
6.9
―
Bull Market
Return (%)
Fund Cat +/-
54.9 1.3
(50.5) (2.4)
55.6 2.0
(51.0) (2.9)
57.6 4.0 (52.7) (4.6)
59.2 5.6 (48.6) (0.5)
61.4 7.8 (49.9) (1.8)
61.4 7.8 (49.8) (1.7)
61.3 7.7 (49.8) (1.7)
61.4 7.8 (49.9) (1.8)
61.2 7.6 (49.9) (1.8)
50.4 (3.2) (45.9) 2.2
53.7 0.1
(48.0) 0.1
53.8 0.2
(47.9) 0.2
53.6 0.0
(47.9) 0.2
53.7 0.1
(47.9) 0.2
(20.4) 0.0
(19.7) 0.7
(33.2) (12.8)
(11.0) 9.4
(16.5) 3.9
(22.0) (1.6)
(5.0) 15.4
(18.7) 1.7
(17.7) 2.7
(18.3) 2.1
(15.1) 5.3
(18.4) 2.0
(23.1) (2.7)
(18.6) 1.8
(20.3) 0.1
(1.8) 18.6
(4.2)
(4.2)
(4.8)
(2.9)
(3.2)
(3.2)
(3.2)
(3.2)
(3.2)
(3.0)
(3.5)
(3.4)
(3.5)
(3.4)
(0.9)
(0.9)
(1.5)
0.4
0.1
0.1
0.1
0.1
0.1
0.3
(0.2)
(0.1)
(0.2)
(0.1)
1.7 (0.6)
―
―
―
―
2.8 0.5
2.6 0.3
2.6 0.3
―
―
―
―
―
―
―
―
1.9 (0.4)
―
―
2.2 (0.1)
―
―
4.0
5.5
6.7
3.3
3.4
5.7
9.5
4.8
2.9
7.6
5.2
2.4
5.1
5.6
3.7
3.8
0.0
1.5
2.7
(0.7)
(0.6)
1.7
5.5
0.8
(1.1)
3.6
1.2
(1.6)
1.1
1.6
(0.3)
(0.2)
4.6
4.8
7.6
4.1
4.3
6.2
―
5.6
4.1
6.4
5.5
3.7
5.7
―
4.4
4.1
1.3 0.0
(0.2) (1.5)
(1.3) (2.6)
6.8 5.5
3.0 1.7
1.2
7.0
7.1
1.2
7.6
4.8
6.0
5.6
0.8
7.2
7.2
5.9
6.4
6.7
(0.5)
6.2
7.0
7.9
6.5
6.1
6.2
7.0
4.2
4.0
4.1
4.8
4.4
4.6
3.8
3.8
5.0
4.1
4.3
2.4
2.8
2.6
2.4
2.9
2.8
2.6
2.7
2.9
2.7
3.3
6.5
4.8
5.7
9.0
5.5
7.7
4.9
5.8
18.0
4.7
4.8
0.0
(1.7)
(0.8)
2.5
(1.0)
1.2
(1.6)
(0.7)
11.5
(1.8)
(1.7)
3.4 0.0
10.2 6.8
10.4 7.0
2.0 (1.4)
10.8 7.4
8.4 5.0
9.6 6.2
8.2 4.8
3.2 (0.2)
10.2 6.8
10.0 6.6
4.5
6.4
6.9
3.3
6.7
7.0
6.5
6.1
8.5
6.3
6.5
0.0
1.9
2.4
(1.2)
2.2
2.5
2.0
1.6
4.0
1.8
2.0
4.9
4.7
6.9
8.7
7.5
7.5
6.6
7.0
6.3
6.3
8.3
7.8
5.4
7.0
7.8
7.4
3.8
3.9
2.8
3.5
3.9
4.0
3.7
4.3
1.6
1.6
1.3
―
0.6
1.0
1.7
1.8
1.8
2.4
0.6
0.8
1.6
2.9
1.5
2.6
0.0
0.6
(1.2)
(1.0)
(0.2)
1.1
(0.3)
0.8
6.5
6.7
9.1
10.2
8.8
9.8
9.1
9.5
4.2
4.5
5.0
5.4
4.6
5.8
5.3
5.7
0.0
0.3
0.8
1.2
0.4
1.6
1.1
1.5
0.0
0.2
2.6
3.7
2.3
3.3
2.6
3.0
0.0
0.2
3.0
(0.5)
(0.3)
1.6
―
1.0
(0.5)
1.8
0.9
(0.9)
1.1
―
(0.2)
(0.5)
4.3 0.0
3.9 (0.4)
3.8 (0.5)
6.6 2.3
5.6 1.3
4.0 0.0
5.2 1.2
5.5 1.5
3.5 (0.5)
5.5 1.5
5.7 1.7
5.2 1.2
5.0 1.0
6.7 2.7
5.1 1.1
5.4 1.4
3.5
3.8
3.8
―
3.6
4.4
4.2
4.6
0.0
0.3
0.3
―
0.1
0.9
0.7
1.1
AAII Journal
10-Year
Return (%)
Fund Cat +/-
Yield
(%)
Tax-
Cost
Ratio
(%)
1.7
1.7
1.5
1.5
1.3
1.3
1.3
1.3
1.3
2.0
2.1
1.9
2.1
1.9
1.1
―
―
0.8
0.8
0.8
―
―
―
―
0.5
―
0.5
―
1.00
1.01
1.05
1.01
1.04
1.04
1.04
1.04
1.04
0.91
0.96
0.95
0.96
0.95
1.03
1.04
1.08
1.04
1.07
1.07
1.07
1.07
1.07
0.93
0.98
0.97
0.98
0.97
8,254
1,845
1,489
5,356
2,494
3,203
1,141
115
381
4,712
7,563
2,764
3,979
1,074
83
84
88
86
90
90
90
90
90
83
89
89
89
89
13
13
9
11
7
7
7
7
7
15
9
9
9
9
1
1
1
1
1
1
1
1
1
1
0
0
0
0
2
2
2
2
2
2
2
2
2
2
1
1
1
1
22.2
22.4
25.1
24.6
24.8
24.8
24.7
25.1
24.8
18.1
19.1
19.1
19.0
19.1
17
17
20
12
11
10
12
19
8
13
9
9
10
8
22
22
22
16
16
16
16
16
16
6
6
6
6
6
81.1
82.9
85.6
89.8
90.8
91.0
91.0
91.0
91.1
100.0
100.0
100.0
100.0
100.0
Risk
Index
Cat Total
Total
Assets
($ Mil)
Portfolio (%)
% of Portfolio
% of
Foreign
Ratio
of
Top 10 Ratio
Load Fee
Issues
(%)
(%)
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
5.2
7.0
6.8
―
―
4.6
―
6.2
5.2
7.2
5.8
4.9
6.5
―
5.0
3.8
0.0
1.8
1.6
―
―
(0.6)
―
1.0
0.0
2.0
0.6
(0.3)
1.3
―
(0.2)
(1.4)
6.9
6.0
6.6
3.0
6.5
6.7
4.2
10.8
8.9
8.3
8.2
7.8
7.6
8.2
7.4
5.2
2.5
2.2
2.4
1.8
2.2
2.6
―
3.0
2.7
2.6
2.7
2.7
2.7
―
2.6
1.9
1.00
0.94
1.35
0.72
0.96
1.14
0.57
0.96
0.92
1.05
0.97
0.97
1.07
1.00
1.10
0.45
0.68
0.64
0.92
0.49
0.65
0.78
0.39
0.65
0.62
0.72
0.66
0.66
0.73
0.68
0.75
0.30
1,255
161
11,342
2,408
427
6,942
310
910
2,514
444
297
707
5,042
135
5,701
153
1
0
10
0
0
0
0
0
0
0
1
0
2
0
0
0
82
68
82
84
94
93
84
91
98
94
96
96
87
95
95
85
3
21
2
0
1
3
6
3
1
0
1
1
8
2
2
3
14
11
7
15
5
4
10
7
2
6
3
3
3
3
3
12
8.8
0.0
14.3
4.7
11.8
9.4
12.0
8.4
15.3
5.7
25.8
7.1
10.0
9.7
11.4
5.7
195
7
48
25
44
27
286
109
97
115
29
50
54
79
21
46
242
79
546
401
251
458
25
247
152
178
104
256
523
239
329
140
19.8
31.5
11.2
16.9
13.9
10.1
80.4
11.8
12.5
20.0
18.2
14.9
9.4
10.8
9.8
12.0
0.97 ―
1.03 2.00R
0.75 1.00R
0.75 1.00R
0.85 1.00R
0.75 1.00R
1.57 1.00R
0.91 2.00R
0.90 2.00R
0.93 ―
1.01 ―
0.73 2.00R
0.80 1.00R
0.75 2.00R
0.32 1.00R
0.86 2.00R
―
―
―
―
―
―
―
―
―
―
0.25
―
―
0.25
―
―
3.9
4.7
4.8
―
5.4
0.0
0.8
0.9
―
1.5
3.4
4.3
2.1
6.1
3.8
1.5
1.2
1.6
2.1
1.9
1.00
1.61
1.07
0.32
1.02
0.85
1.38
0.91
0.27
0.87
1,020
2,414
289
604
1,768
15
11
56
0
1
16
11
0
43
11
63
70
36
44
85
7
8
7
13
4
3.5
2.0
6.7
5.9
1.8
77
39
21
89
77
121
157
66
75
144
24.7
35.2
22.4
29.7
21.5
1.07 ―
0.78 ―
1.00 ―
1.26 2.00R
0.72 1.00R
―
―
―
―
―
5.1
5.7
6.0
5.3
6.3
6.5
―
5.8
7.4
5.9
6.2
0.0
0.6
0.9
0.2
1.2
1.4
―
0.7
2.3
0.8
1.1
4.5
4.2
3.9
5.2
4.9
3.4
3.9
4.5
9.3
4.0
3.9
1.7
1.6
1.7
1.7
1.8
1.7
1.6
1.7
2.0
1.6
1.7
1.00
0.97
0.91
0.80
0.94
0.89
0.89
0.86
1.23
0.86
0.97
0.18
0.17
0.16
0.14
0.17
0.16
0.16
0.15
0.22
0.15
0.17
1,622
1,402
7,268
803
612
132
379
1,539
3,610
595
17,777
0
0
0
0
0
0
0
0
0
0
0
95
94
79
88
96
112
83
93
90
92
78
1
0
0
0
0
7
0
2
0
2
4
4
6
21
12
4
(19)
17
5
9
6
18
0.0
0.0
0.0
1.1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
318 1,742
330 1,748
464
179
476
334
32
168
1,652
545
614
401
108 2,347
16
536
20
126
63 28,991
46.6
39.6
71.5
48.8
39.2
93.7
37.1
44.4
14.5
33.4
21.6
0.70
0.54
0.45
0.45
0.51
0.90
0.57
0.66
0.73
0.55
0.23
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
0.25
―
―
0.25
―
―
4.3
4.0
6.9
―
4.3
5.0
4.9
5.1
0.0
(0.3)
2.6
―
0.0
0.7
0.6
0.8
2.0
1.8
3.7
1.7
1.0
2.6
1.6
2.4
1.2
1.2
1.6
―
1.2
1.3
1.3
1.4
1.00
0.85
1.40
1.40
1.35
1.15
1.15
1.15
0.10
0.09
0.14
0.14
0.14
0.12
0.12
0.12
575
1,079
187
196
797
100
2,336
2,559
0
0
0
0
0
0
0
0
78
87
70
97
73
93
98
87
0
0
0
0
0
1
0
1
22
13
31
3
27
5
3
12
0.3
0.0
3.1
0.0
0.0
0.0
0.0
0.0
197
142
30
116
1,170
104
156
109
50.8
46.5
61.1
37.7
57.5
34.7
63.6
41.7
0.56
0.57
0.57
0.20
0.90
0.61
0.22
0.22
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
70
142
31
63
40
76
50
161
0.79
0.80
0.82
0.78
0.79
0.79
0.79
0.79
0.79
0.19
0.18
0.19
0.18
0.19
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
29
Closed
Index Fund
Bond Funds
Fund Name (Ticker)
2009 2008 2007 2006 2005
I
Gov’t Bond: Intermed-Term Category Average
AmCent Govt Bd Inv (CPTNX)
AmCent Target 2015 Inv (BTFTX)
Fid Spt Int Tr Bd Ix Inv (FIBIX)
Fidelity Government Inc (FGOVX)
Fidelity Interm Govt Inc (FSTGX)
T. Rowe Price US Try Int (PRTIX)
Vanguard Int-Tm Treas (VFITX)
WF Adv Govt Secs Inv (STVSX)
1.0
3.0
(1.6)
(5.1)
1.2
0.8
(1.4)
(1.7)
3.5
9.6 7.8
9.5
7.8
12.7 10.0
16.3 10.0
11.0
7.8
10.0
7.8
14.1 9.9
13.3 9.9
7.5
6.9
I
Gov’t Bond: Long-Term Category Average
AmCent Target 2025 Inv (BTTRX)
Dreyfus US Try L/T (DRGBX)
Fid Spt L/T Tr Bd Ix Inv (FLBIX)
T. Rowe Price US Try L/T (PRULX)
Vanguard Long-Tm US Try (VUSTX)
Wasatch-Hoisington US Tr (WHOSX)
(18.0)
(22.3)
(13.2)
(13.5)
(10.9)
(12.1)
(22.6)
30.7 10.4
26.7
9.7
21.5 10.3
24.1
9.5
23.2
9.9
22.5
9.2
37.7 10.0
(0.3) 8.5
(1.4) 14.6
1.2 5.6
1.7 ―
1.0 5.4
1.7 6.6
(0.2) 10.4
Inflation-Protected Bond Category Average
AmCent Inf-Adj Bond Inv (ACITX)
AmCent Inflation Prot Bd Inv (APOIX) Fidelity Inflation-Protec Bd (FINPX)
PIMCO Real Ret D (PRRDX)
Schwab Inflation Prot (SWRSX)
T. Rowe Price Infl Pro Bd (PRIPX)
TIAA-CREF InflLkRtl (TCILX)
Vanguard Infl-Prot Secs (VIPSX)
11.0
10.5
11.4
9.6
17.0
9.2
10.4
9.4
10.8
(2.5)
(1.1)
(1.3)
(2.4)
(6.9)
(2.0)
(1.9)
(1.7)
(2.9)
10.7
10.9
10.9
9.0
11.0
10.6
11.1
10.9
11.5
0.0
0.0
0.0
0.2
(0.2)
―
0.0
0.0
0.4
I
General Bond: Short-Term Category Average
AmCent Short Duration Inv (ACSNX)
Fidelity Sh-Term Bond (FSHBX)
Homestead Short-Term Bd (HOSBX)
Janus Short-Term Bond J (JASBX)
Metro West Low Dur M (MWLDX)
Payden Short Bond (PYSBX)
PIMCO Low Duration D (PLDDX)
T. Rowe Price S/T Bond (PRWBX)
Thompson Plumb Bond (THOPX)
USAA Short-Term Bond (USSBX)
Vanguard Sh-Tm Bd Idx (VBISX)
Vanguard Sht-Tm Inv-Grade (VFSTX)
Weitz Short-Interm Inc (WEFIX)
WF Adv S/T Bond Inv (SSTBX)
10.2 (5.6)
5.0
5.4
7.3 (3.7)
16.3 (3.6)
8.5
4.6
15.1 (14.7)
6.7
1.1
13.0 (1.6)
9.0
1.2
24.8 (2.1)
14.0 (2.6)
4.2
5.4
14.0 (4.8)
10.8
2.2
9.4 (0.6)
4.2
6.2
1.6
4.6
5.2
2.5
5.9
7.5
5.4
5.6
5.7
7.2
5.8
6.1
4.4
I
I
I
General Bond: Intermed-Term Category Average 13.4 (2.4)
Bernstein Interm Dur (SNIDX) 17.2 (4.5)
Dodge & Cox Income (DODIX) 16.0 (0.3)
Dreyfus Bond Mkt Idx Bas (DBIRX)
4.7
5.8
Driehaus Active Income (LCMAX) 22.1
0.4
Fidelity Interm Bond (FTHRX) 17.1 (5.9)
Fidelity Invt Grade Bond (FBNDX) 16.0 (7.2)
Fidelity Strategic Inc (FSICX) 31.7 (11.4)
Fidelity Total Bond (FTBFX) 19.7 (5.6)
Fidelity U.S. Bond Index (FBIDX)
6.4
3.7
Janus Flexible Bond (JAFIX) 12.5
5.6
LKCM Fixed-Income (LKFIX) 10.7
2.9
Loomis Sayles Bond Ret (LSBRX) 36.8 (22.2)
Managers PIMCO Bond (MBDFX) 17.1 (0.2)
Metro West Total Ret (MWTRX) 17.0 (1.5)
5.0
5.4
4.6
7.0
1.3
3.9
2.9
5.4
4.1
5.3
6.8
5.9
8.2
8.8
6.2
30
3.4
3.9
2.0
2.6
3.5
3.6
2.5
3.1
3.5
2.1
2.4
4.9
―
2.4
1.4
1.5
2.3
2.1
2.3
2.4
―
2.1
2.1
―
2.3
2.6
2.5
4.6 2.0
―
―
4.6 2.1
4.3 2.2
4.2 1.5
6.1 2.7
4.2 1.3
3.4 1.2
4.3 1.7
5.7 (0.1)
4.7 2.2
4.0 1.3
4.9 2.2
4.0 1.6
4.3 1.9
4.6
4.5
5.3
4.1
4.5
4.2
4.9
8.1
5.1
4.3
4.1
3.9
10.9
3.4
6.9
2.1
2.4
1.9
2.1
―
1.7
2.8
3.1
2.4
2.2
1.7
1.7
4.0
2.9
3.1
Bull Market
Return (%)
Fund Cat +/-
2.6
3.3
2.1
(1.0)
2.6
1.7
1.0
1.3
4.3
0.0
0.7
(0.5)
(3.6)
0.0
(0.9)
(1.6)
(1.3)
1.7
Bear Market
3-Year
5-Year
Return (%)
Return (%)
Return (%)
10.7 0.0
12.3 1.6
12.9 2.2
15.8 5.1
12.5 1.8
11.9 1.2
15.6 4.9
14.0 3.3
9.0 (1.7)
6.0
6.7
6.9
6.7
6.6
6.2
7.3
7.0
6.0
0.0
0.7
0.9
0.7
0.6
0.2
1.3
1.0
0.0
4.7
5.3
5.5
―
5.1
4.7
5.1
5.2
4.7
0.0
0.6
0.8
―
0.4
0.0
0.4
0.5
0.0
(6.6) 0.0
(7.8) (1.2)
(3.8) 2.8
(3.8) 2.8
(2.2) 4.4
(2.9) 3.7
(9.5) (2.9)
20.0
12.3
14.6
16.3
17.2
15.5
24.2
0.0
(7.7)
(5.4)
(3.7)
(2.8)
(4.5)
4.2
5.5
2.6
5.2
5.5
6.5
5.5
5.4
0.0
(2.9)
(0.3)
0.0
1.0
0.0
(0.1)
4.4 0.0
4.1 (0.3)
4.5 0.1
―
―
5.1 0.7
5.0 0.6
5.2 0.8
12.1
11.2
12.1
11.1
17.1
10.9
11.7
11.3
11.5
0.0
(0.9)
0.0
(1.0)
5.0
(1.2)
(0.4)
(0.8)
(0.6)
0.0
2.0
1.8
(0.5)
(3.4)
(0.1)
0.6
0.1
0.1
0.0
2.0
1.8
(0.5)
(3.4)
(0.1)
0.6
0.1
0.1
6.2
6.6
6.8
5.3
6.5
5.8
6.4
6.1
6.3
0.0
0.4
0.6
(0.9)
0.3
(0.4)
0.2
(0.1)
0.1
4.2 0.0
4.4 0.2
―
―
3.6 (0.6)
4.3 0.1
―
―
4.2 0.0
4.1 (0.1)
4.3 0.1
10.0
4.7
7.1
14.6
7.9
16.8
6.4
14.2
7.3
22.9
12.3
4.4
12.3
9.7
8.0
0.0
(5.3)
(2.9)
4.6
(2.1)
6.8
(3.6)
4.2
(2.7)
12.9
2.3
(5.6)
2.3
(0.3)
(2.0)
(4.7) 0.0
7.7 12.4
(3.0) 1.7
(1.3) 3.4
6.4 11.1
(16.0) (11.3)
3.0 7.7
(0.6) 4.1
3.9 8.6
0.5 5.2
0.3 5.0
7.4 12.1
(2.1) 2.6
5.4 10.1
1.4 6.1
2.5
5.6
1.6
5.5
6.1
0.2
4.5
6.1
5.1
8.9
5.5
5.6
4.7
6.3
4.3
0.0
3.1
(0.9)
3.0
3.6
(2.3)
2.0
3.6
2.6
6.4
3.0
3.1
2.2
3.8
1.8
2.7 0.0
―
―
2.3 (0.4)
4.6 1.9
4.8 2.1
1.8 (0.9)
3.8 1.1
4.6 1.9
4.3 1.6
6.4 3.7
4.7 2.0
4.4 1.7
4.2 1.5
4.9 2.2
3.8 1.1
14.2
18.6
16.9
6.1
18.7
16.2
15.7
32.6
18.6
7.1
12.4
10.1
39.3
18.3
18.3
0.0
4.4
2.7
(8.1)
4.5
2.0
1.5
18.4
4.4
(7.1)
(1.8)
(4.1)
25.1
4.1
4.1
(2.0) 0.0
(4.1) (2.1)
(0.3) 1.7
6.6 8.6
3.1 5.1
(3.8) (1.8)
(5.7) (3.7)
(11.8) (9.8)
(3.3) (1.3)
4.8 6.8
8.1 10.1
5.3 7.3
(24.3) (22.3)
1.6 3.6
(0.3) 1.7
5.0
5.7
6.6
5.8
7.5
4.6
3.5
7.1
5.6
5.1
8.3
6.5
4.8
8.3
7.0
0.0
0.7
1.6
0.8
2.5
(0.4)
(1.5)
2.1
0.6
0.1
3.3
1.5
(0.2)
3.3
2.0
4.3 0.0
4.8 0.5
5.4 1.1
4.7 0.4
―
―
3.9 (0.4)
3.6 (0.7)
6.5 2.2
4.8 0.5
4.4 0.1
6.1 1.8
5.0 0.7
5.9 1.6
6.2 1.9
6.2 1.9
AAII Journal
10-Year
Return (%)
Fund Cat +/-
Yield
(%)
Tax-
Cost
Ratio
(%)
5.8
6.0
8.6
―
6.1
5.6
6.0
6.7
5.9
0.0
0.2
2.8
―
0.3
(0.2)
0.2
0.9
0.1
3.3
3.3
4.2
3.1
3.1
2.2
2.9
3.1
3.8
1.5
1.5
1.7
―
1.6
1.3
1.4
1.7
1.6
1.00
0.83
1.75
1.54
0.90
0.73
1.29
1.31
0.79
0.24
0.20
0.43
0.38
0.22
0.18
0.31
0.32
0.19
815
986
276
1,178
4,615
1,497
551
2,422
1,080
0
0
0
0
0
0
0
0
0
95
95
100
99
89
92
99
96
87
0
1
0
0
0
0
0
0
0
5
5
0
1
11
8
1
4
13
0.9
0.0
9.0
0.0
3.2
1.3
0.0
0.7
1.3
220
335
21
89
380
305
102
88
368
306
114
52
39
296
277
178
53
260
48.5
34.0
59.2
46.9
24.4
32.0
74.0
63.8
29.4
0.60
0.49
0.57
0.20
0.45
0.45
0.52
0.25
0.95
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
7.4
8.4
6.1
―
7.0
7.4
7.8
0.0
1.0
(1.3)
―
(0.4)
0.0
0.4
3.2
4.4
4.3
4.0
3.8
4.2
3.5
1.6
1.7
1.5
―
1.9
1.9
1.3
1.00
1.18
0.76
0.77
0.75
0.75
1.11
0.86
1.02
0.65
0.66
0.64
0.64
0.95
233
138
68
168
284
1,431
139
0
0
0
0
0
0
0
91
100
92
99
100
99
99
0
0
0
0
0
0
0
9
0
8
1
0
1
1
0.8
0.0
0.0
0.0
0.0
0.0
0.0
584
32
114
91
84
80
62
26
33
15
35
99
22
12
77.9
72.2
97.3
48.1
88.7
75.1
98.5
0.83
0.57
0.65
0.20
0.55
0.25
0.74
―
―
―
―
―
―
2.00R
―
―
―
―
―
―
―
7.3
7.2
―
―
7.5
―
―
―
―
0.0
(0.1)
―
―
0.2
―
―
―
―
1.2
1.5
1.6
0.8
2.4
0.0
1.3
0.7
1.7
1.4
1.4
―
1.4
1.9
―
1.2
1.4
1.5
1.00
0.95
0.95
0.99
1.18
0.99
0.97
1.00
1.01
0.45
0.43
0.43
0.44
0.53
0.44
0.43
0.45
0.45
2,417
2,084
83
2,153
1,339
291
307
134
12,946
0 101
0
93
0
96
0 100
0 121
0
98
0
97
0 100
0
99
0
0
0
0
0
0
0
0
0
(1)
7
4
0
(21)
2
3
0
1
1.4
0.6
1.2
0.0
7.0
0.0
2.0
0.0
0.0
146
18
37
43
915
78
34
17
28
247
71
120
40
1,627
29
36
29
26
57.0
52.0
46.3
47.6
71.4
67.3
63.7
48.1
60.1
0.52
0.49
0.49
0.45
0.85
0.50
0.50
0.69
0.25
―
―
―
―
―
―
―
―
―
―
―
―
―
0.25
―
―
0.25
―
4.2
―
3.9
4.6
4.7
3.2
4.6
4.9
4.8
6.8
4.1
5.0
4.9
5.5
3.7
0.0
―
(0.3)
0.4
0.5
(1.0)
0.4
0.7
0.6
2.6
(0.1)
0.8
0.7
1.3
(0.5)
4.0
2.4
2.7
6.4
3.5
5.3
3.6
3.2
3.5
5.2
4.6
2.8
3.9
3.3
3.3
1.5
―
1.4
1.6
1.3
1.8
1.4
1.5
1.4
1.8
1.5
1.3
1.5
1.3
1.5
1.00
0.39
0.59
0.80
0.39
1.49
0.46
1.17
0.59
2.46
0.71
0.63
1.00
0.71
0.54
0.21
0.08
0.12
0.17
0.08
0.31
0.10
0.24
0.12
0.51
0.15
0.13
0.21
0.15
0.11
1,351
59
6,982
245
1,346
983
388
1,064
3,663
144
1,248
5,283
14,722
518
263
0
0
0
0
0
0
0
0
0
0
0
0
0
2
0
84
92
90
74
87
72
88
104
81
75
95
95
83
77
88
1
0
0
0
0
0
0
11
1
2
1
0
1
1
0
14
8
11
26
13
28
12
(15)
18
23
5
5
17
20
12
7.5
6.7
7.4
2.4
11.8
3.4
25.3
7.2
9.0
3.8
5.5
8.5
10.3
0.9
9.3
115
182
264
56
127
38
107
223
32
110
31
101
49
25
50
466
200
1,087
457
258
366
176
3,197
586
283
438
1,161
1,104
146
233
27.9
35.9
34.7
14.2
30.1
12.3
21.3
22.6
20.2
18.5
9.3
15.6
15.9
22.2
15.5
0.64
0.62
0.45
0.81
0.65
0.60
0.56
0.75
0.55
0.80
0.72
0.22
0.26
0.72
0.85
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
0.19
―
0.25
―
―
―
―
―
―
―
5.8
5.5
6.8
6.0
―
5.5
5.6
8.0
―
6.0
6.2
5.7
8.6
7.4
6.7
0.0
(0.3)
1.0
0.2
―
(0.3)
(0.2)
2.2
―
0.2
0.4
(0.1)
2.8
1.6
0.9
4.5
4.6
5.2
4.0
15.3
4.4
4.3
4.9
4.6
3.7
4.2
4.0
5.6
4.3
6.0
1.7
1.7
1.2
1.6
―
1.6
1.7
2.1
1.8
1.6
1.6
1.4
2.2
2.1
2.0
1.00
1.11
1.05
0.76
0.84
0.95
0.95
1.69
1.04
0.69
0.80
0.82
2.64
1.05
0.87
0.27
0.31
0.29
0.21
0.23
0.26
0.26
0.47
0.29
0.19
0.22
0.23
0.74
0.29
0.24
3,003
5,224
19,240
945
1,087
4,353
6,228
7,186
11,443
10,383
1,108
149
7,865
1,152
4,232
0
0
0
0
(7)
0
0
0
0
0
0
0
1
2
0
90
92
91
93
27
92
91
88
85
84
93
96
87
99
84
3
2
0
1
28
1
2
1
5
0
0
1
9
1
0
7
6
9
6
52
7
7
11
10
16
7
4
4
(3)
16
8.1
13.7
2.0
5.1
4.5
11.1
5.7
30.3
7.4
4.8
8.1
4.5
26.8
13.9
3.7
168
82
24
25
150
66
119
255
104
231
185
23
39
431
220
1,168
540
505
1,588
128
1,432
1,493
1,245
1,759
930
268
133
749
528
752
27.5
22.7
18.4
8.9
55.9
25.3
37.8
11.3
32.9
30.7
16.3
15.3
18.5
44.7
13.7
0.66
0.57
0.43
0.15
1.00
0.45
0.46
0.73
0.45
0.32
0.78
0.65
0.94
0.59
0.65
―
―
―
―
―
―
―
―
―
―
―
1.00R
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
0.25
―
0.21
Risk
Index
Cat Total
Total
Assets
($ Mil)
Portfolio (%)
% of Portfolio
% of
Foreign
Ratio
of
Top 10 Ratio
Load Fee
Issues
(%)
(%)
31
Closed
Index Fund
Bond Funds
Fund Name (Ticker)
2009 2008 2007 2006 2005
Bull Market
Return (%)
Fund Cat +/-
Bear Market
3-Year
5-Year
Return (%)
Return (%)
Return (%)
23.0
13.8
6.9
12.4
25.5
7.8
9.5
19.1
7.1
12.2
9.1
8.8
(0.4)
(7.3)
(1.8)
11.3
(6.4)
(4.7)
4.9
(7.1)
(2.0)
(5.1)
(0.5) 1.5
7.0 9.0
(6.0) (4.0)
3.1 5.1
(13.1) (11.1)
6.4 8.4
4.9 6.9
(5.7) (3.7)
6.0 8.0
―
―
0.7 2.7
8.6
8.8
1.5
6.5
4.9
6.2
6.4
5.4
5.9
6.7
4.5
3.6
3.8
(3.5)
1.5
(0.1)
1.2
1.4
0.4
0.9
1.7
(0.5)
6.3 2.0
6.5 2.2
2.3 (2.0)
5.3 1.0
5.0 0.7
4.9 0.6
4.9 0.6
4.5 0.2
4.9 0.6
5.3 1.0
4.3 0.0
18.7
14.1
32.5
23.0
16.1
10.4
18.3
0.0
(4.6)
13.8
4.3
(2.6)
(8.3)
(0.4)
(4.7) 0.0
(0.2) 4.5
(16.3) (11.6)
(10.5) (5.8)
5.0 9.7
2.2 6.9
(4.9) (0.2)
5.2
5.8
5.5
4.4
8.4
5.6
4.9
0.0
0.6
0.3
(0.8)
3.2
0.4
(0.3)
4.2 0.0
4.2 0.0
5.3 1.1
4.1 (0.1)
5.8 1.6
4.9 0.7
4.5 0.3
2.9 0.0
2.6 (0.3)
5.0 2.1
4.5 1.6
3.9 1.0
2.1 (0.8)
7.4 4.5
3.9 1.0
3.6 0.0
5.0 1.4
6.1 2.5
4.2 0.6
5.6 2.0
5.6 2.0
2.0 (1.6)
5.0 1.4
3.0
3.6
4.6
3.8
4.2
3.6
4.2
4.0
0.0
0.6
1.6
0.8
1.2
0.6
1.2
1.0
I
I
I
I
PIMCO Invm Grd Corp D (PBDDX)
PIMCO Total Ret D (PTTDX)
Schwab Total Bd Mkt (SWLBX)
T. Rowe Price New Inc (PRCIX)
T. Rowe Price Spect Inc (RPSIX)
T. Rowe Price US Bnd Idx (PBDIX)
Vanguard Intm Bd Idx (VBIIX)
Vanguard IntTm Inv-Gr (VFICX)
Vanguard Total Bd Idx (VBMFX)
Wells Fargo Adv Inc Plus Inv (WIPNX) Westcore Plus Bond (WTIBX)
18.2
13.5
4.4
12.3
20.2
6.6
6.7
17.7
5.9
11.8
10.4
I
General Bond: Long-Term Category Average
ICON Bond I (IOBIX)
Managers Bond (MGFIX)
T. Rowe Price Corp Inc (PRPIX)
TCW Core Fix-Inc N (TGFNX)
Vanguard LongTm Bd Idx (VBLTX)
Vanguard Long-Tm InvGr (VWESX)
15.5 (2.8)
15.5 (3.2)
31.1 (16.4)
22.0 (10.0)
15.2
3.6
1.7
8.6
8.7
2.2
Muni Nat’l: Short-Term Bond Category Average 4.5
Alpine UltrSh TaxOpt Inc (ATOIX)
3.2
T. Rowe Price T/F Sh-Int (PRFSX)
7.2
USAA Tax Ex Short-Term (USSTX)
6.8
Vanguard LtdTm T/E (VMLTX)
5.5
Vanguard Sht-Tm TE (VWSTX)
3.0
WF Adv S/T Muni Bd Inv (STSMX) 10.4
WF Adv UltraShrt Muni Inv (SMUAX)
5.5
Muni Nat’l: Intermed-Term Bond Category Average
AmCent Tax-Free Bond Inv (TWTIX)
Bernstein Diversif Muni (SNDPX)
Dreyfus Interm Muni (DITEX)
Fidelity Interm Muni Inc (FLTMX)
Fidelity Sh-Int Muni Inc (FSTFX)
Marshall Interm T/F Inv (MITFX)
Northern Interm Tax-Ex (NOITX)
T. Rowe Price Sum MunInt (PRSMX)
USAA Tax Ex Interm-Term (USATX)
Vanguard IntTm T/E (VWITX)
11.0
10.4
7.0
10.4
8.7
5.6
12.8
8.9
10.7
18.3
10.2
Muni Nat’l: Long-Term Bond Category Average
Dreyfus Muni Bond (DRTAX)
Fidelity Municipal Income (FHIGX)
Fidelity Tax-Free Bond (FTABX)
Northern Tax-Exempt (NOTEX)
Schwab Tax-Fr (SWNTX)
T. Rowe Price Sum MunInc (PRINX)
T. Rowe Price T/F Inc inv (PRTAX)
USAA Tax Ex Long-Term (USTEX)
Vanguard Lg-Tm T/E (VWLTX)
WF Adv Muni Bond Inv (SXFIX)
Muni Nat’l: High-Yield Bond Category Average 27.4
AmCent High Yield Mn Inv (ABHYX) 24.1
Dreyfus Hi Yld Muni Z (DHMBX) 29.9
Northern High Yield Muni (NHYMX) 23.2
T. Rowe Price T/F Hi-Yld (PRFHX) 31.4
Vanguard Hi-Yld T/E (VWAHX) 20.1
32
1.4
6.7
4.4 8.7
(4.5) 4.7
1.4
6.3
(9.5) 6.1
5.4 6.7
4.9 7.6
(6.2) 6.1
5.0 6.9
―
―
(1.9) 5.4
3.7
3.6
4.5
4.1
8.3
3.8
3.9
4.4
4.2
―
5.8
2.1
2.5
2.6
2.8
2.0
2.1
1.7
1.9
2.4
―
2.0
4.6
5.9
7.0
3.7
6.9
6.5
3.7
4.1 1.5
4.0 (0.2)
7.8 2.2
4.9 2.5
3.6 0.3
2.6 5.3
2.8 5.1
1.3
3.5
3.0
1.3
2.9
3.7
(1.4)
2.7
3.6
4.1
3.8
3.3
4.3
4.1
3.9
3.9
3.3
4.0
3.2
3.5
3.3
3.2
3.6
3.3
1.6
2.1
0.9
1.7
1.1
1.6
2.6
2.1
(1.6)
(0.3)
2.4
(1.5)
0.9
3.5
0.7
0.4
0.1
(7.4)
(0.2)
3.2
3.4
4.0
2.7
3.9
4.4
4.2
3.4
3.7
1.9
3.4
3.7
4.1
3.1
3.7
4.0
2.9
3.5
3.8
4.1
4.5
4.4
1.9
2.4
1.4
2.0
2.5
1.0
0.9
2.0
2.2
3.0
2.2
7.3
7.0
4.9
6.6
6.0
4.0
8.6
5.8
7.3
11.9
6.7
0.0
(0.3)
(2.4)
(0.7)
(1.3)
(3.3)
1.3
(1.5)
0.0
4.6
(0.6)
2.5
3.8
5.7
2.7
4.6
6.2
5.9
4.4
4.4
(1.9)
4.3
0.0
1.3
3.2
0.2
2.1
3.7
3.4
1.9
1.9
(4.4)
1.8
4.0
4.4
4.5
3.8
4.5
4.5
5.8
4.2
4.8
3.7
4.4
0.0
0.4
0.5
(0.2)
0.5
0.5
1.8
0.2
0.8
(0.3)
0.4
3.5 0.0
3.9 0.4
3.6 0.1
3.4 (0.1)
4.0 0.5
3.5 0.0
4.3 0.8
3.6 0.1
4.1 0.6
3.8 0.3
3.9 0.4
14.9 (5.4)
16.6 (8.5)
13.1 (4.7)
13.2 (3.4)
12.3 (1.8)
11.7
0.3
18.6 (8.1)
16.0 (5.9)
22.0 (12.6)
14.0 (4.9)
24.3 (11.7)
2.3
1.1
3.1
3.1
2.9
1.6
1.6
2.2
0.6
2.5
2.1
4.7
5.1
4.8
4.8
4.2
3.9
5.4
5.1
4.7
5.1
5.7
3.4
3.9
3.6
3.7
3.1
2.0
4.2
3.7
3.8
3.0
5.0
9.8
11.0
8.5
8.7
8.2
7.9
12.5
10.5
14.9
9.2
17.2
0.0
1.2
(1.3)
(1.1)
(1.6)
(1.9)
2.7
0.7
5.1
(0.6)
7.4
(0.5)
(3.7)
0.3
1.5
2.8
4.5
(2.8)
(0.5)
(7.5)
0.1
(6.3)
0.0
(3.2)
0.8
2.0
3.3
5.0
(2.3)
0.0
(7.0)
0.6
(5.8)
3.5
2.5
3.6
4.1
4.3
4.4
3.5
3.7
2.4
3.6
3.9
0.0
(1.0)
0.1
0.6
0.8
0.9
0.0
0.2
(1.1)
0.1
0.4
3.7 0.0
3.3 (0.4)
3.8 0.1
4.2 0.5
4.0 0.3
3.8 0.1
4.0 0.3
4.0 0.3
3.1 (0.6)
3.8 0.1
4.5 0.8
(1.0) 6.9
(2.6) 6.6
(1.9) 10.9
(3.6) 6.3
(1.2) 6.8
1.5
5.5
5.5
6.8
―
4.8
6.2
4.3
18.8 0.0 (16.0) 0.0
17.4 (1.4) (19.7) (3.7)
20.9 2.1
(18.9) (2.9)
15.0 (3.8) (18.2) (2.2)
22.9 4.1 (17.1) (1.1)
13.6 (5.2)
(5.1) 10.9
0.0 0.0
(2.1) (2.1)
(0.6) (0.6)
(2.3) (2.3)
0.6
0.6
3.0 3.0
2.4 0.0
1.3 (1.1)
―
―
0.8 (1.6)
2.9 0.5
3.7 1.3
(20.5)
(22.3)
(23.0)
(21.4)
(21.5)
(10.5)
2.8
3.4
3.6
3.3
3.4
3.1
3.7
3.5
0.0
0.6
0.8
0.5
0.6
0.3
0.9
0.7
AAII Journal
10-Year
Return (%)
Fund Cat +/-
Yield
(%)
Tax-
Cost
Ratio
(%)
―
7.3
4.8
6.3
6.6
―
6.8
6.3
6.0
5.9
6.3
―
1.5
(1.0)
0.5
0.8
―
1.0
0.5
0.2
0.1
0.5
5.3
5.2
3.9
4.3
4.5
4.4
4.4
5.0
4.1
4.3
4.2
1.8
2.0
1.6
1.7
1.8
1.6
1.7
1.8
1.6
―
1.7
1.45
0.89
0.85
0.80
1.42
0.75
1.24
1.36
0.76
1.02
0.76
0.41
0.25
0.24
0.22
0.40
0.21
0.35
0.38
0.21
0.28
0.21
263
14,490
927
9,641
5,483
484
3,479
5,332
19,555
186
1,326
0
0
0
0
15
0
0
0
0
0
0
104
131
92
91
76
95
99
94
92
98
96
9
6
1
2
2
1
0
0
2
0
0
(12)
(37)
7
7
6
4
1
6
6
2
4
17.2
7.4
5.5
10.7
21.8
6.2
11.8
15.2
5.7
3.8
6.1
348 1,186
300 18,271
472
429
82 1,586
24
9
26
865
89 1,034
48 1,146
61 12,799
455
208
54
267
6.9
―
7.2
6.2
6.5
7.7
7.1
0.0
―
0.3
(0.7)
(0.4)
0.8
0.2
5.1
4.0
5.3
5.3
7.4
5.3
5.9
1.8
1.5
1.8
1.8
1.8
1.8
2.0
1.00
0.53
1.39
1.03
0.51
1.37
1.52
0.44
0.23
0.61
0.46
0.22
0.60
0.67
1,199
166
2,198
567
87
2,049
4,035
0
0
0
0
0
0
0
95
94
91
97
96
99
99
0
0
3
1
0
0
0
5
6
6
2
4
1
1
12.0
3.8
10.3
24.6
2.1
13.7
14.2
117
74
39
36
122
67
24
3.5
―
4.1
3.7
3.9
3.1
4.1
3.0
0.0
―
0.6
0.2
0.4
(0.4)
0.6
(0.5)
2.5
2.7
2.9
3.5
2.7
2.0
3.5
2.8
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
1.00
0.20
1.40
1.00
1.25
0.50
1.25
0.50
0.10
0.02
0.14
0.10
0.13
0.05
0.13
0.05
1,348
1,444
1,077
1,659
3,231
2,967
1,655
1,662
0
0
0
0
0
0
0
0
91
86
86
94
94
85
97
92
0
0
0
0
0
0
0
0
9
14
14
6
6
15
3
8
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
4.7
5.0
4.4
4.3
5.2
4.0
5.0
4.8
5.1
5.1
4.9
0.0
0.3
(0.3)
(0.4)
0.5
(0.7)
0.3
0.1
0.4
0.4
0.2
3.6
3.7
3.3
3.7
3.5
2.7
3.9
3.2
3.6
4.6
3.8
0.0
0.0
0.0
0.0
0.0
0.0
0.2
0.1
0.0
0.0
0.0
1.00
0.98
0.78
1.02
0.78
0.52
0.94
1.04
0.90
1.36
1.08
0.25
0.25
0.20
0.26
0.20
0.13
0.24
0.26
0.23
0.35
0.27
1,862
1,505
5,151
822
3,765
3,141
202
1,596
1,149
2,794
7,737
0
0
0
0
0
0
0
0
0
0
0
97
98
98
99
94
90
91
96
98
100
97
0
0
0
0
0
0
0
0
0
0
0
3
2
2
1
6
11
10
4
2
0
3
5.3
4.7
5.7
―
5.6
5.8
5.7
5.5
5.4
5.6
5.3
0.0
(0.6)
0.4
―
0.3
0.5
0.4
0.2
0.1
0.3
0.0
4.2
4.5
4.2
4.1
3.9
3.1
4.4
4.5
5.2
4.4
4.6
0.0
0.0
0.1
0.0
0.1
0.1
0.0
0.0
0.1
0.0
0.1
1.00
1.02
0.91
0.92
0.92
0.74
1.03
1.00
1.32
1.03
1.18
0.33
0.34
0.30
0.30
0.30
0.24
0.34
0.33
0.44
0.34
0.39
1,308
1,779
5,626
1,792
1,101
304
414
1,665
2,311
1,766
291
0
0
0
0
0
0
0
0
0
0
0
99
100
100
99
96
99
98
99
100
98
98
0
0
0
0
0
0
0
0
0
0
0
4.5
4.2
―
3.6
4.7
5.3
0.0
(0.3)
―
(0.9)
0.2
0.8
5.3
5.7
5.7
4.5
5.4
4.7
(0.0)
0.0
―
(0.0)
0.0
0.0
1.00
1.04
1.10
0.94
1.02
0.72
0.53
0.55
0.59
0.50
0.54
0.39
837
108
117
669
1,675
1,887
0
0
0
0
0
0
99
99
100
100
99
99
0
1
0
0
0
0
Risk
Index
Cat Total
Total
Assets
($ Mil)
Portfolio (%)
% of Portfolio
% of
Foreign
Ratio
of
Top 10 Ratio
Load Fee
Issues
(%)
(%)
19.2
42.1
17.6
20.1
100.0
15.6
21.5
8.1
12.0
37.8
24.2
0.90
0.75
0.55
0.69
0.70
0.30
0.22
0.26
0.22
0.94
0.56
―
―
―
―
―
0.50R
―
―
―
―
2.00R
0.25
0.25
―
―
―
―
―
―
―
―
―
381
198
374
370
421
835
337
28.4
12.3
18.4
13.9
36.7
25.8
11.5
0.86
1.00
1.00
0.74
0.73
0.22
0.28
―
―
―
―
―
―
―
―
0.25
―
―
0.25
―
―
62
129
25
24
23
32
101
186
413
194
274
275
1,129
972
544
696
17.9
23.9
12.4
13.0
6.8
8.3
12.2
12.4
0.56
0.70
0.51
0.56
0.20
0.20
0.66
0.73
―
0.25R
―
―
―
―
―
―
―
―
―
―
―
―
―
―
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
40
37
12
23
8
20
92
136
9
13
23
548
522
721
231
1,194
734
312
282
426
530
2,484
13.1
9.4
11.0
13.6
6.5
9.1
19.6
11.9
9.1
9.9
4.6
0.61
0.49
0.57
0.78
0.42
0.49
0.56
0.75
0.50
0.45
0.20
―
―
―
―
0.50R
0.50R
2.00R
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
1
0
0
1
4
1
2
1
0
2
2
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
77
23
15
20
167
211
25
41
13
26
152
386
176
1,130
756
222
205
330
401
330
806
358
15.5
17.2
7.5
7.3
14.2
17.2
12.4
8.8
13.5
6.6
15.2
0.57
0.76
0.47
0.25
0.75
0.49
0.50
0.53
0.44
0.20
0.80
―
―
0.50R
0.50R
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
1
0
0
0
1
1
0.0
0.0
0.0
0.0
0.0
0.0
38
44
29
34
29
24
349
139
119
262
515
701
13.6
19.4
18.4
12.9
8.6
7.1
0.65
0.62
0.85
0.85
0.71
0.20
―
―
2.00R
―
―
―
―
―
0.17
―
―
―
33
Closed
Index Fund
Bond Funds
C
34
Fund Name (Ticker)
Muni: State-Specific Bond Category
Fidelity AZ Muni Inc (FSAZX)
Northern AZ Tax-Exempt (NOAZX)
AmCent CA Lng T/F Inv (BCLTX)
AmCent CA T/F Inv (BCITX)
Bernstein CA Municipal (SNCAX)
Bernstein Short Dur CA Muni (SDCMX)
California Invmt CA Tx-Fr (CFNTX)
Fidelity CA Muni Inc (FCTFX)
Managers CA Interm Tax-Fr (MCATX)
Northern CA Intrm Tax-Ex (NCITX)
Northern CA Tax-Exempt (NCATX)
Schwab CA Tax-Free Bond (SWCAX)
Schwab CATxFr YieldPlus (SWYCX)
T. Rowe Price CA T/F Bd (PRXCX)
USAA CA Bond (USCBX)
Vanguard CA IT T/E (VCAIX)
Vanguard CA Lg T/E Inv (VCITX)
Westcore CO Tax-Exempt (WTCOX)
Fidelity CT Muni Inc (FICNX)
USAA FL Tax-Free Income (UFLTX)
Vanguard FL Lg T/E (VFLTX)
T. Rowe Price GA Tax-Fr (GTFBX)
Hawaii Municipal (SURFX)
Dupree KY Tax-Fr Income (KYTFX)
Dupree KY Tax-Fr Sh-Med (KYSMX)
Fidelity MA Muni Inc (FDMMX)
Vanguard MA Tax-Exempt (VMATX)
Fidelity MD Muni Inc (SMDMX)
T. Rowe Price MD S/T T/F (PRMDX)
T. Rowe Price MD Tax-Fr (MDXBX)
Fidelity MI Muni Inc (FMHTX)
Fidelity MN Muni Inc (FIMIX)
Sit MN Tax-Free Income (SMTFX)
Dupree NC Tax-Fr Income (NTFIX)
Fidelity NJ Muni Inc (FNJHX)
T. Rowe Price NJ Tax-Fr (NJTFX)
Vanguard NJ Long-Term T/E (VNJTX)
Bernstein NY Municipal (SNNYX)
Bernstein Short Dur NY Muni (SDNYX)
Dreyfus NY Tax-Ex Bond (DRNYX)
Empire Builder TaxFr Bld (EMBTX)
Empire Builder TaxFr Pr (EMTPX)
Fidelity NY Muni Inc (FTFMX)
General NY Municipal Bd (GNYMX)
T. Rowe Price NY Tax-Fr (PRNYX)
USAA NY Bond (USNYX)
Value Line NY Tax-Exempt (VLNYX)
Vanguard NY Long T/E (VNYTX)
Fidelity OH Muni Inc (FOHFX)
Vanguard OH Long-Tm TxEx (VOHIX)
Fidelity PA Muni Inc (FPXTX)
Vanguard PA Lg T/E (VPAIX)
Dupree TN Tax-Fr Income (TNTIX)
Madison Mosaic VA TaxFr (GTVAX)
T. Rowe Price VA Tax-Fr (PRVAX)
USAA VA Bond (USVAX)
WF Adv WI Tax-Free Inv (SWFRX)
2009 2008 2007 2006 2005
13.6 (4.3)
11.3 (1.5)
13.7 (6.1)
9.7 (0.6)
6.8
1.5
3.5
3.0
8.6 (1.8)
11.6 (5.7)
7.6 (1.4)
8.5 (1.3)
12.3 (3.3)
9.3 (1.1)
1.7 (8.2)
14.8 (6.2)
18.8 (12.6)
9.6 (2.2)
13.2 (6.9)
10.6 (1.4)
10.9 (1.2)
17.6 (8.7)
14.4 (5.1)
14.6 (5.4)
12.1 (5.0)
9.2
0.9
5.1
3.1
12.6 (3.6)
10.8 (1.3)
13.7 (4.0)
3.7
3.3
17.9 (6.7)
9.3 (0.1)
9.8 (0.3)
22.0 (10.9)
10.4 (1.5)
11.7 (3.0)
14.3 (5.2)
11.7 (3.1)
8.1
1.3
3.6
2.8
13.5 (4.2)
5.8
0.6
6.1
0.8
12.1 (2.5)
15.3 (6.7)
14.5 (5.6)
16.9 (7.8)
9.0 (9.2)
12.5 (3.7)
11.1 (1.7)
13.1 (2.8)
9.6 (0.8)
11.8 (3.7)
10.5 (2.4)
7.5
1.6
14.3 (3.9)
15.9 (7.5)
10.6 (1.8)
2.5
3.3
1.5
2.6
3.9
3.5
2.7
2.8
3.5
2.4
2.7
2.2
1.2
2.4
0.5
3.0
1.5
2.8
3.7
0.8
3.4
2.0
2.1
3.6
3.9
3.2
2.8
3.0
3.7
1.8
3.7
3.1
1.0
3.0
3.6
1.8
2.8
4.0
3.6
2.3
2.2
2.4
3.3
2.0
2.5
1.1
1.8
2.4
3.5
3.2
3.9
2.7
2.7
3.0
2.2
1.0
3.2
4.4
3.7
4.8
4.0
3.3
2.7
3.5
4.6
4.5
3.6
3.8
4.3
3.3
4.8
5.1
4.2
5.2
4.0
4.0
4.7
4.5
4.2
3.8
4.4
2.7
4.7
4.9
4.1
2.8
4.5
4.4
4.1
4.8
4.0
4.6
4.7
5.2
3.2
2.7
4.5
3.5
3.6
4.5
4.4
4.7
4.5
4.5
4.8
4.4
4.8
4.0
4.8
4.2
3.2
4.5
4.4
4.5
2.7
2.0
3.3
2.2
1.5
1.1
1.5
3.6
2.6
2.1
3.8
3.3
1.7
3.5
3.7
1.8
3.7
1.5
2.2
3.4
2.5
3.2
2.2
2.6
0.4
3.6
3.2
2.5
0.8
3.3
2.6
2.6
4.4
2.6
3.3
3.2
2.8
1.7
1.5
3.1
1.5
1.6
3.0
2.4
3.4
3.7
1.6
2.8
2.9
2.6
2.7
2.7
2.5
1.7
3.2
2.9
3.3
Bull Market
Return (%)
Fund Cat +/-
8.4
6.9
8.1
6.3
4.7
2.5
4.7
7.0
4.5
5.1
7.5
6.4
0.8
9.2
10.8
6.1
8.1
6.9
6.5
11.6
9.3
9.5
8.5
6.0
3.2
8.1
7.1
8.7
2.3
11.3
6.8
5.5
14.2
6.9
7.0
9.3
7.6
5.4
2.7
8.7
3.4
3.6
7.5
10.3
9.3
11.0
6.1
8.0
7.1
8.6
6.6
7.6
7.0
3.9
9.4
10.6
6.3
0.8
(0.7)
1.5
(0.3)
(1.9)
(4.1)
(1.9)
0.4
(2.1)
(1.5)
0.9
(0.2)
(5.8)
2.6
4.2
(0.5)
1.5
0.0
0.6
1.2
(1.1)
0.0
0.0
1.4
(1.4)
0.2
(0.8)
0.9
(5.5)
3.5
0.0
(4.3)
4.4
0.0
(0.9)
1.4
(0.3)
(1.5)
(4.2)
1.8
(3.5)
(3.3)
0.6
3.4
2.4
4.1
(0.8)
1.1
(0.7)
0.8
(0.5)
0.5
0.0
(4.0)
1.5
2.7
0.0
Bear Market
3-Year
5-Year
Return (%)
Return (%)
Return (%)
0.9
3.7
(0.8)
3.2
4.6
4.7
2.6
(0.9)
3.1
2.7
1.7
2.5
(7.0)
(0.8)
(6.4)
2.0
(2.1)
2.8
4.2
(4.1)
0.1
(0.5)
(1.3)
5.3
6.4
1.5
3.4
1.2
5.7
(1.0)
3.4
4.6
(5.0)
3.0
2.4
(0.5)
1.5
4.9
4.5
0.7
4.0
4.2
2.7
(1.8)
(0.3)
(2.9)
(6.3)
1.0
3.3
2.3
3.2
0.6
1.8
6.4
1.1
(2.8)
2.7
(1.4)
1.4
(0.7)
3.3
4.7
4.8
2.7
(0.8)
3.2
2.8
1.8
2.6
(6.9)
(0.7)
(6.3)
2.1
(2.0)
0.0
0.2
(2.1)
2.1
0.0
0.0
(0.5)
0.6
(1.6)
0.3
(0.8)
3.7
(3.0)
0.0
4.9
(4.7)
0.0
1.3
(1.6)
0.4
4.0
3.6
(0.2)
3.1
3.3
1.8
(2.7)
(1.2)
(3.8)
(7.2)
0.1
0.5
(0.5)
1.3
(1.3)
0.0
4.9
(0.4)
(4.3)
0.0
3.7
4.2
2.7
3.8
4.0
3.3
3.1
2.7
3.2
3.1
3.7
3.4
(1.8)
3.3
1.4
3.4
2.3
3.9
4.4
2.7
3.9
3.4
2.8
4.5
4.0
3.9
4.0
4.0
3.6
3.9
4.2
4.1
3.2
3.8
3.9
3.3
3.6
4.4
3.3
3.6
2.9
3.1
4.1
3.1
3.5
2.9
0.2
3.5
4.2
4.3
4.2
3.4
3.5
4.0
4.0
2.7
3.9
(0.3)
0.2
0.0
1.1
1.3
0.6
0.4
0.0
0.5
0.4
1.0
0.7
(4.5)
0.6
(1.3)
0.7
(0.4)
0.0
0.3
(0.6)
0.6
0.0
0.0
0.2
(0.3)
(0.4)
(0.3)
0.1
(0.3)
0.0
0.0
0.4
(0.5)
0.0
0.3
(0.3)
0.0
1.3
0.2
0.5
(0.2)
0.0
1.0
0.0
0.4
(0.2)
(2.9)
0.4
0.0
0.1
0.4
(0.4)
0.0
0.4
0.4
(0.9)
0.0
3.6
3.7
3.3
3.5
3.4
2.8
2.9
3.3
3.3
3.0
3.7
3.6
(0.1)
3.6
2.6
3.2
3.1
3.4
3.8
3.2
3.7
3.5
2.9
4.1
3.0
4.0
4.0
3.7
2.9
3.9
3.9
3.8
3.7
3.6
3.9
3.6
3.8
3.6
2.8
3.7
2.7
2.9
4.0
3.3
3.7
3.4
1.3
3.6
4.0
4.1
3.8
3.5
3.4
3.4
3.9
3.1
3.9
0.0
0.1
0.3
0.5
0.4
(0.2)
(0.1)
0.3
0.3
0.0
0.7
0.6
(3.1)
0.6
(0.4)
0.2
0.1
0.0
0.3
(0.3)
0.2
0.0
0.0
0.5
(0.6)
0.0
0.0
0.1
(0.7)
0.3
0.0
0.0
(0.1)
0.0
0.1
(0.2)
0.0
0.4
(0.4)
0.5
(0.5)
(0.3)
0.8
0.1
0.5
0.2
(1.9)
0.4
0.0
0.1
0.1
(0.2)
0.0
(0.1)
0.4
(0.4)
0.0
AAII Journal
10-Year
Return (%)
Fund Cat +/-
Yield
(%)
Tax-
Cost
Ratio
(%)
5.2
5.1
5.2
4.6
4.2
2.8
4.4
5.1
4.5
4.4
5.5
5.5
―
5.2
4.8
4.7
5.2
4.5
5.3
5.3
5.6
5.1
4.4
5.0
3.8
5.5
5.6
5.2
3.2
5.3
5.5
5.2
4.7
4.9
5.4
5.2
5.4
4.4
2.9
5.0
4.4
4.7
5.7
4.8
5.3
5.5
3.7
5.5
5.6
5.7
5.3
5.4
4.8
4.8
5.5
5.2
―
3.7
3.8
4.7
3.9
3.3
2.5
4.1
4.3
2.9
3.3
4.2
3.4
1.3
4.5
5.0
3.8
4.4
3.6
3.5
4.7
4.3
4.1
3.6
4.0
3.0
3.8
3.9
3.5
2.2
4.5
3.9
3.6
4.5
3.7
3.8
4.3
4.1
3.2
2.2
3.9
2.4
2.6
3.8
4.0
4.2
4.4
3.5
4.0
3.9
4.2
3.8
4.1
3.7
3.2
4.2
4.7
3.2
0.1
0.0
0.1
0.0
0.0
0.0
0.1
0.1
0.1
(0.0)
0.0
0.0
0.0
0.0
0.1
0.0
0.0
0.0
0.1
0.0
0.0
0.0
0.0
0.0
0.0
0.1
0.0
0.0
0.0
0.0
0.1
0.1
0.0
0.0
0.1
0.0
0.0
0.0
0.0
0.0
0.1
0.1
0.1
0.1
0.0
0.0
0.1
0.0
0.1
0.0
0.0
0.0
0.0
0.1
0.0
0.0
0.1
0.0
(0.1)
0.4
(0.2)
(0.6)
(2.0)
(0.4)
0.3
(0.3)
(0.4)
0.7
0.7
―
0.4
0.0
(0.1)
0.4
0.0
0.4
(0.2)
0.1
0.0
0.0
0.6
(0.6)
0.1
0.2
0.5
(1.5)
0.6
0.0
0.3
(0.2)
0.0
0.1
(0.1)
0.1
(0.3)
(1.8)
0.3
(0.3)
0.0
1.0
0.1
0.6
0.8
(1.0)
0.8
0.0
0.1
(0.1)
0.0
0.0
(0.3)
0.4
0.1
―
Risk
Index
Cat Total
1.02
0.98
1.21
0.81
0.67
0.22
0.95
1.10
0.91
0.93
1.24
0.74
0.57
1.12
1.60
0.95
1.21
1.00
1.04
1.07
0.93
1.00
1.00
1.16
0.86
0.92
1.00
1.16
0.35
1.29
1.00
0.80
1.22
1.00
0.98
0.98
1.05
0.77
0.23
1.17
0.62
0.62
1.11
1.25
1.15
1.36
1.42
1.21
0.98
1.02
0.88
1.10
1.00
0.88
1.03
1.12
1.00
0.32
0.31
0.36
0.24
0.20
0.07
0.28
0.32
0.27
0.27
0.37
0.22
0.17
0.33
0.47
0.28
0.36
0.24
0.27
0.37
0.31
0.32
0.22
0.29
0.21
0.29
0.32
0.29
0.09
0.32
0.26
0.24
0.37
0.31
0.29
0.29
0.31
0.21
0.06
0.31
0.17
0.17
0.30
0.34
0.31
0.37
0.38
0.32
0.28
0.29
0.23
0.29
0.28
0.26
0.30
0.33
0.23
Total
Assets
($ Mil)
164
103
411
670
1,185
115
107
1,515
31
263
162
391
83
325
652
1,448
695
106
593
169
220
163
166
831
64
2,346
954
170
262
1,703
644
472
283
72
651
240
474
1,746
263
1,399
40
46
1,728
225
329
199
18
731
522
949
428
664
92
25
743
559
103
Portfolio (%)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
100
100
100
98
99
83
97
98
87
99
100
98
85
99
100
97
99
93
100
100
99
100
100
100
92
100
99
100
64
97
98
100
96
100
100
99
99
97
90
98
75
75
100
100
100
100
94
99
100
99
100
99
100
97
99
100
98
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3
1
18
3
2
13
1
0
2
15
1
0
3
2
7
0
0
1
0
0
0
8
0
1
0
36
3
2
0
5
0
1
1
1
3
10
2
25
25
0
0
0
0
6
1
0
1
1
1
0
3
1
0
3
% of Portfolio
% of
Foreign
Ratio
of
Top 10 Ratio
Load Fee
Issues
(%)
(%)
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.2
19
48
36
36
14
52
21
26
33
31
54
119
41
23
9
25
27
16
15
7
35
28
26
6
16
14
29
23
23
22
19
9
16
8
19
13
37
19
45
17
75
75
17
23
21
6
90
38
11
23
17
24
8
18
27
1
126
122
66
137
271
268
64
60
523
224
141
110
213
52
180
111
664
435
164
174
64
202
134
101
222
54
470
226
102
118
384
265
190
372
77
181
172
349
335
90
202
56
56
309
103
186
116
33
385
221
260
158
461
77
51
241
103
181
25.4
31.9
20.3
11.3
20.8
41.9
32.2
9.6
32.4
19.0
25.2
17.5
38.9
15.4
24.5
11.6
12.5
20.7
26.9
37.2
17.1
18.9
36.4
22.6
37.6
19.4
15.6
27.4
24.6
12.5
12.0
22.3
15.9
30.0
21.4
14.5
13.8
17.9
37.9
18.0
39.6
39.6
15.2
19.8
16.0
23.8
51.1
11.6
14.0
14.4
18.4
11.4
30.0
40.5
17.1
23.9
32.3
0.55
0.75
0.49
0.49
0.62
0.69
0.74
0.47
0.56
0.75
0.75
0.49
0.49
0.52
0.50
0.20
0.20
0.66
0.48
0.64
0.20
0.62
1.02
0.58
0.72
0.46
0.17
0.55
0.58
0.47
0.49
0.50
0.86
0.72
0.48
0.56
0.20
0.61
0.67
0.76
1.34
1.18
0.47
0.93
0.54
0.62
0.84
0.20
0.49
0.17
0.50
0.20
0.70
1.03
0.50
0.52
0.75
0.50R
―
―
―
―
―
1.00R
0.50R
―
―
―
―
―
―
―
―
―
2.00R
0.50R
―
―
―
―
―
―
0.50R
―
0.50R
―
―
0.50R
0.50R
―
―
0.50R
―
―
―
―
―
―
―
0.50R
―
―
―
―
―
0.50R
―
0.50R
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
0.15
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
―
0.20
―
―
0.25
―
―
―
―
―
―
―
―
―
―
35
Index Fund
Closed
Bond Funds
Fund Name (Ticker)
2009 2008 2007 2006 2005
WesMark WV Muni Bond (WMKMX)
10.5
2.5
3.2
1.6
International Bond: General Category Average
AmCent Intl Bond Inv (BEGBX)
Loomis Sayles GlbBd Ret (LSGLX)
Managers Global Bond (MGGBX)
Northern Global Fix Inc (NOIFX)
Payden Global Fixed Inc (PYGFX)
Payden Global Short Bd (PYGSX)
PIMCO For Bd (Unhdgd) D (PFBDX)
PIMCO For Bd USD-Hdgd D (PFODX)
T. Rowe Price Intl Bd (RPIBX)
12.4 (0.4) 7.3
6.7
2.4
9.8
22.3 (8.9) 8.0
24.2 (10.0) 7.4
(0.3) 10.9
9.3
6.5
2.6
4.3
8.9 (3.0) 4.2
20.8 (4.5) 10.0
18.5 (2.9) 3.5
8.3
1.7 10.0
5.5
8.2
7.9
7.3
4.7
2.0
4.2
6.1
2.4
7.5
(3.3)
(8.3)
(4.6)
(5.0)
(8.0)
5.0
2.3
(9.5)
5.2
(8.2)
17.8 0.0
16.0 (1.8)
28.0 10.2
30.6 12.8
7.5 (10.3)
6.9 (10.9)
8.5 (9.3)
29.2 11.4
17.9 0.1
18.1 0.3
International Bond: Emerging Category Average
Fidelity New Markets Inc (FNMIX)
Payden Emerging Mkts Bond (PYEMX)
PIMCO Dev Loc Mkts D (PLMDX)
PIMCO Emerg Mkts Bd D (PEMDX)
T. Rowe Price Emg Mkt Bd (PREMX)
32.1
44.5
28.8
21.1
30.0
34.9
11.4
11.9
10.0
11.4
9.3
11.4
I
I
I
International Bond: Currency Category Average 1.7 (3.9) 8.4
Merk Asian Currency Inv (MEAFX)
0.5
―
―
Merk Hard Currency Inv (MERKX) 13.8 (5.0) 15.1
ProFunds Fall US Doll Inv (FDPIX)
3.2 (5.7) 11.5
Rydex Str Dollr 2xStrH (RYSBX) (16.3) 7.2 (10.9)
Rydex WeakDol 2xStrH (RYWBX)
7.5 (12.1) 18.0
6.9
―
11.6
10.0
(10.5)
16.6
(continued from page 5)
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 data
with their computer or touch-tone
phone. The ticker is four letters and is
usually followed by an “X,” indicating
that it is a mutual fund. For example,
the large-cap Brandywine Blue fund
ticker symbol is BLUEX.
Style—Growth and Value: Indicates
fund investment style. G = growth
investing focus, V = value investing
focus. For more on what these classifications mean, see the online version
of this Guide at www.aaii.com/guides/
mfguide.
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.
36
(3.1)
Bull Market
Return (%)
Fund Cat +/-
(16.7) 6.0
(18.3) 5.6
(10.3) 2.8
(14.9) 12.7
(14.4) 5.2
(17.8) 5.8
5.9
1.8
0.0
3.2
0.0
2.9
0.0
(3.9)
(4.9)
(12.2)
(13.8)
5.1
2.9
(1.5)
(8.4)
(1.0)
(5.8)
0.0
(1.0)
(8.3)
(9.9)
9.0
6.8
2.4
(4.5)
2.9
(1.9)
6.1
6.3
6.4
6.3
6.5
4.5
3.3
8.3
6.0
6.6
0.0
0.2
0.3
0.2
0.4
(1.6)
(2.8)
2.2
(0.1)
0.5
4.0
3.5
4.4
4.1
3.1
4.1
3.3
4.0
5.1
3.6
0.0
(0.5)
0.4
0.1
(0.9)
0.1
(0.7)
0.0
1.1
(0.4)
12.8
11.0
11.7
―
11.2
17.2
34.6 0.0 (19.1) 0.0
44.3 9.7 (18.7) 0.4
29.7 (4.9) (12.7) 6.4
30.9 (3.7) (21.8) (2.7)
32.4 (2.2) (16.1) 3.0
36.0 1.4 (18.9) 0.2
5.2
7.6
5.9
5.1
5.4
5.5
0.0
2.4
0.7
(0.1)
0.2
0.3
7.9 0.0
9.2 1.3
7.8 (0.1)
―
―
7.3 (0.6)
8.9 1.0
―
―
―
―
―
―
6.5 0.0
(5.8) 0.0
2.0 (4.5)
―
―
20.2 13.7 (10.1) (4.3)
11.7 5.2
(12.4) (6.6)
(27.2)(33.7) 24.6 30.4
25.8 19.3 (25.3) (19.5)
Bull Market Return (%)—Fund and
Cat +/-: Reflects the fund’s performance in the most recent bull market,
starting March 1, 2009, and continuing
through December 31, 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
Bear Market Return (%)—Fund and
Cat +/-: 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
boldface.
3-Year Return (%)—Fund and Cat
+/-: Assuming an investment on Janu-
0.0
Bear Market
3-Year
5-Year
Return (%)
Return (%)
Return (%)
1.7 0.0
―
―
7.6 5.9
2.7
1.0
(7.2) (8.9)
3.7 2.0
―
―
―
―
―
―
―
―
―
―
―
―
ary 1, 2007, the annual total compound
return if held through December 31,
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. 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
boldface.
+/-: Assuming an investment on January 1, 2005, the annual total compound
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.
AAII Journal
10-Year
Return (%)
Fund Cat +/-
Yield
(%)
Tax-
Cost
Ratio
(%)
4.2
0.0
3.1
0.1
1.00
0.25
86
5.9
6.8
7.4
6.1
5.2
5.0
4.4
―
6.0
6.1
0.0
0.9
1.5
0.2
(0.7)
(0.9)
(1.5)
―
0.1
0.2
4.1
4.4
3.1
11.8
1.6
4.7
3.3
3.2
3.5
2.7
1.8
1.4
1.5
2.1
1.2
2.3
1.5
2.1
2.0
1.8
1.00
1.33
1.29
1.33
1.04
0.43
0.29
1.54
0.66
1.29
0.42
0.56
0.54
0.56
0.44
0.18
0.12
0.65
0.28
0.54
11.7
12.1
10.6
―
13.0
11.8
0.0
0.4
(1.1)
―
1.3
0.1
5.8
7.0
5.3
2.0
5.9
7.7
2.5
2.6
2.0
―
2.6
2.9
1.00
1.09
0.88
0.85
0.95
0.98
―
―
―
―
―
―
0.1
0.4
0.6
0.0
0.0
0.0
―
―
―
―
―
―
1.00
0.26
0.96
0.84
1.73
1.70
―
―
―
―
―
―
Risk
Index
Cat Total
Portfolio (%)
0
7
0.0
16
98
22.8
1.23
―
―
672
1,393
979
26
78
106
62
282
159
3,505
0 101
0
95
0
93
0
93
0
94
0
96
0
79
0 128
0 145
0
96
1
0
1
0
1
1
0
7
0
0
(2)
6
6
7
5
4
21
(36)
(45)
4
69.8
91.9
59.4
57.4
69.3
59.7
32.4
82.5
93.2
92.3
220
64
75
56
96
162
97
653
779
69
314
62
296
112
107
204
144
788
932
351
44.1
41.3
23.0
39.3
32.7
34.0
25.9
80.8
63.6
32.2
0.90
0.83
1.00
1.10
1.15
0.71
0.71
0.90
0.90
0.81
―
―
―
1.00R
―
―
―
―
―
2.00R
―
―
0.25
―
―
―
―
0.25
0.25
―
0.73
0.80
0.64
0.62
0.70
0.72
931
2,918
281
276
218
1,760
0
0
0
0
0
0
90
95
92
54
117
91
6
0
1
12
24
0
3
5
8
35
(41)
9
77.8
89.4
87.7
24.9
85.0
87.1
106
59
103
95
220
57
255
204
102
384
572
188
31.3
24.2
24.3
33.6
32.9
37.4
1.05 ―
0.92 1.00R
0.89 2.00R
1.25 ―
1.25 ―
0.98 2.00R
―
―
―
0.25
0.25
―
0.60
0.16
0.58
0.51
1.06
1.04
115
71
462
30
54
46
0
0
0
0
0
0
3
0
15
0
0
0
3
0
13
0
0
0
94
100
72
100
100
100
3.0
0.0
15.0
0.0
0.0
0.0
14
0
27
nmf
nmf
nmf
13
18
32
4
4
5
5.5
0.0
27.6
0.0
0.0
0.0
1.50
1.30
1.30
1.73
1.69
1.70
―
0.25
0.25
―
0.25
0.25
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. For some funds, the yield may
be distorted if the fund reports shortterm 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
0
% of Portfolio
% of
Foreign
Ratio
of
Top 10 Ratio
Load Fee
Issues
(%)
(%)
93
+/-: Assuming an investment on January 1, 2000, the annual total compound
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.
Total
Assets
($ Mil)
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
―
―
―
―
―
―
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 Port 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
(continued on page 40)
37
Mutual Fund Contact Information
Fund Family
AllianceBernstein
Alpine
Amana
American Beacon
American Century
Ariel
Artisan
Aston
Ave Maria
Baron Capital Group
Berwyn
Brandywine
Bridgeway
Buffalo
Caldwell & Orkin
California Investment Trust
CGM
Cohen & Steers
CRM
Dodge & Cox
Dreman
Dreyfus
Driehaus
Dupree
DWS
Empire Builder
Fairholme
FAM
FBR
Federated
Fidelity
FMI
FPA
Fund X
Gabelli
Greenspring
Guinness Atkinson
Harbor
Harding Loevner
Hawaii Municipal
Heartland
Hennessy
HighMark
Homestead
Hussman
ICON
Invesco Aim
Iron
James
Janus
Kalmar
38
Phone
800-227-4618
888-785-5578
888-732-6262
800-967-9009
800-345-2021
800-292-7435
800-344-1770
800-992-8151
866-283-6274
800-442-3814
800-992-6757
800-656-3017
800-661-3550
800-492-8332
800-467-7903
800-225-8778
800-598-0778
800-437-9912
800-276-2883
800-621-3979
800-247-1014
800-645-6561
877-779-0079
800-866-0614
800-728-3337
800-847-5886
866-202-2263
800-932-3271
888-888-0025
800-341-7400
800-544-8544
800-811-5311
800-982-4372
866-455-3863
800-422-3554
800-576-7498
800-915-6566
800-422-1050
877-435-8105
800-354-9654
800-432-7856
800-966-4354
800-433-6884
800-258-3030
800-487-7626
800-764-0442
800-959-4246
877-322-0575
800-995-2637
800-525-3713
800-282-2319
Web Address
www.alliancebernstein.com
www.alpinefunds.com
www.amanafunds.com
www.americanbeaconfunds.com
www.americancentury.com
www.arielinvestments.com
www.artisanfunds.com
www.astonfunds.com
www.avemariafund.com
www.baronfunds.com
www.berwynfunds.com
www.brandywinefunds.com
www.bridgeway.com
www.buffalofunds.com
www.caldwellorkin.com
www.caltrust.com
www.cgmfunds.com
www.cohenandsteers.com
www.crmfunds.com
www.dodgeandcox.com
www.dreman.com
www.dreyfus.com
www.driehaus.com
www.dupree-funds.com
www.dws-investments.com
www.glickenhaus.com
www.fairholmefunds.com
www.famfunds.com
www.fbrfunds.com
www.federatedinvestors.com
www.fidelity.com
www.fmifunds.com
www.fpafunds.com
www.upgraderfunds.com
www.gabelli.com
www.greenspringfund.com
www.gafunds.com
www.harborfunds.com
www.hardingloevner.com
www.leehawaii.com
www.heartlandfunds.com
www.hennessyfunds.com
www.highmarkfunds.com
www.homesteadfunds.com
www.hussmanfunds.com
www.iconadvisers.com
www.invescoaim.com
www.ironfunds.com
www.jamesfunds.com
www.janus.com
www.kalmarinvestments.com
AAII Journal
Mutual Fund Contact Information (cont.)
Fund Family
Kinetics
Lazard
Leuthold
LKCM
Longleaf Partners
Loomis Sayles
Madison Mosaic
Mairs & Power
Managers Funds
Manning & Napier
Marshall
Marsico
Masters
Matthews Asia
Merger
Meridian
Merk Funds
Metropolitan West
Metzler/Payden
Nakoma
Neuberger Berman
Northern Funds
Oak Associates
Oakmark
Osterweis
Parnassus
Pax World
Paydenfunds
Permanent Portfolio
PIMCO Funds
Pinnacle
PRIMECAP Odyssey
ProFunds
Rainier
RBC
Reynolds
Royce
Rydex/SGI
Schroder
Schwab
Scout
Sequoia
Sit
Sound Shore
State Street Global Advisors
Stratton
T. Rowe Price
TCW
TFS
The Arbitrage Fund
Third Avenue
Phone
800-930-3828
800-986-3455
800-273-6886
800-688-5526
800-445-9469
800-633-3330
888-670-3600
800-304-7404
800-548-4539
800-466-3863
800-580-3863
888-860-8686
800-656-8864
800-789-2742
800-343-8959
800-446-6662
866-637-5386
800-241-4671
800-572-9336
866-662-5662
800-877-9700
800-595-9111
888-462-5386
800-625-6275
800-700-3316
800-999-3505
800-767-1729
800-572-9336
800-531-5142
800-426-0107
877-369-3705
800-729-2307
888-776-3637
800-248-6314
800-463-3863
800-773-9665
800-221-4268
800-820-0888
800-464-3108
800-435-4000
800-996-2862
800-686-6884
800-332-5580
800-754-8758
800-647-7327
800-472-4266
800-638-5660
800-386-3829
888-534-2001
800-295-4485
800-443-1021
Web Address
www.kineticsfunds.com
www.lazardnet.com
www.leutholdfunds.com
www.lkcm.com
www.longleafpartners.com
www.loomissayles.com
www.mosaicfunds.com
www.mairsandpower.com
www.managersinvest.com
www.manningnapieradvisors.com
www.marshallfunds.com
www.marsicofunds.com
www.mastersfunds.com
www.matthewsfunds.com
www.mergerfund.com
www.meridianfund.com
www.merkfunds.com
www.mwamllc.com
www.metzlerpayden.com
www.nakomafunds.com
www.nb.com
www.northernfunds.com
www.oakfunds.com
www.oakmark.com
www.osterweis.com
www.parnassus.com
www.paxworld.com
www.payden.com
www.permanentportfoliofunds.com
www.pimco-funds.com
www.pinnaclevaluefund.com
www.odysseyfunds.com
www.profunds.com
www.rainierfunds.com
www.rbcam.com
www.reynoldsfunds.com
www.roycefunds.com
www.rydex-sgi.com
www.schroderfunds.com
www.schwab.com
www.scoutfunds.com
www.sequoiafund.com
www.sitfunds.com
www.soundshorefund.com
www.ssgafunds.com
www.strattonmutualfunds.com
www.troweprice.com
www.tcw.com
www.tfscapital.com
www.thearbfund.com
www.thirdavenuefunds.com
39
Mutual Fund Contact Information (cont.)
Fund Family
Thomas White
Thompson Plumb
TIAA-CREF
Tocqueville
Tweedy Browne
U.S. Global Investors
USAA
Value Line
Vanguard
Wasatch
Weitz
Wells Fargo Advantage
WesMark
Westcore
Wintergreen
Yacktman
(continued from page 37)
the 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
Phone
800-811-0535
800-999-0887
800-223-1200
800-697-3863
800-432-4789
800-873-8637
800-531-8722
800-243-2729
800-662-7447
800-551-1700
800-304-9745
800-222-8222
800-864-1013
800-392-2673
888-468-6473
800-525-8258
Web Address
www.thomaswhite.com
www.thompsonim.com
www.tiaa-cref.org
www.tocquevillefunds.com
www.tweedy.com
www.usfunds.com
www.usaa.com
www.vlfunds.com
www.vanguard.com
www.wasatchfunds.com
www.weitzfunds.com
www.wellsfargofunds.com
www.wesmarkfunds.com
www.westcore.com
www.wintergreenfund.com
www.yacktman.com
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 number of holdings, 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. 
AAII staff who contributed to this Guide include John Bajkowski, Jean Henrich, Alyna Johnson, Andrew Lautner, and Charles
Rotblut.
40
AAII Journal

The Individual Investor`s Guide to The Top Mutual Funds

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