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Title: | Market Investing |
|
Moderator: | 2155::michaud |
|
Created: | Thu Jan 23 1992 |
Last Modified: | Thu Jun 05 1997 |
Last Successful Update: | Fri Jun 06 1997 |
Number of topics: | 1060 |
Total number of notes: | 10477 |
385.0. "To INDEX or not to INDEX" by SLOAN::HOM () Fri Feb 12 1993 16:27
Note 382.4 says:
> Remember, as a general rule, at any given time, LESS THAN 20% of all
> funds do better (NET CHARGES) than the unmanaged S&P 500.
While this rule is true over the longer and applied to all mutual funds,
Fidelity seems to have hit a string of winners in beating the SP500.
Some observations:
- the SP500 are large cap stock while many of the funds are
specialization in small cap stock. Hence the Russell 2000
index might be more appropriate in some cases.
- most Fidelity funds have some amount of cash while the SP500
is always full invested. This makes the Fidelity performance
even more impressive.
Some food for thought.
[This was posted on the usenet by a SP500 fund basher.]:
Fidelity Growth Funds - Total Return (%)
1992 1991
---- ----
Low Price Stock 29.0% 46.3%
Value 21.2 26.2
Trend 16.8 36.3
Capital Appreciation 16.4 10.0
Contrafund 15.9 54.9
Destiny II 15.5 41.4
Stock Selector 15.4 45.9
Destiny I 15.2 38.9
OTC 14.9 49.2
Special Situations 13.5 23.7
Disciplined Equity 13.2 36.0
Retirement Growth 10.6 45.6
VIP Growth 9.3 45.5
Emerging Growth 8.4 67.1
Growth Company 7.9 48.3
(S&P 500) 7.7 30.5
Market Index 7.3 30.3
Magellan 7.0 41.0
Blue Chip 6.2 54.8
In 1992, 15 out of 18 growth funds beat the S&P, and 3 trailed it.
In 1991, 14 out of 18 growth funds beat the S&P, and 4 trailed it.
Fidelity Growth and Income Funds - Total Return (%)
1992 1991
---- ----
Convertible Securities 22.0% 38.7%
Real Estate 19.5 39.2
Asset Manager: Growth 19.1 19.1
Equity-Income II 19.1 46.6
VIP Equity-Income 17.0 NA
Puritan 15.4 24.5
Equity-Income 14.7 29.4
Asset Manager 12.7 23.6
Growth and Income 11.5 41.8
Utilities Income 10.9 21.2
Fidelity 8.5 24.2
Balanced 7.9 26.8
(S&P 500) 7.7 30.5
In 1992, 12 out of 12 growth and income funds beat the S&P, and 0 trailed it.
In 1991, 4 out of 11 growth and income funds beat the S&P, and 7 trailed it.