12
Turmoil in the Ukraine and a technology stock sell-off
made for an eventful month. The U.S. stock market
ended the period slightly down, while foreign stocks
posted modest gains and long duration bonds rose
as the
10
-year Treasury yield slipped.
The broad stock market’s small loss in April belied
turmoil. The Russell
2000
Index dropped more than
4%
while large-cap stocks fared better; the S
&
P
500
Index gained about
0
.
4%
.
T. Rowe Price Media
& Telecommunications
PRMTX
was in two of
the worst spots of the month’s market, owning not
only falling telecom firms like
Vodafone
VOD
but
also big helpings of correcting Internet stocks such
as
Amazon.com
AMZN
. Small- and mid-cap
growth funds, such as
Artisan Small Cap
ARTSX
and
Baron Opportunity
BIOPX
, fell hard. Funds
focused on energy, utilities, and real estate did well.
Developed international markets, as measured by
the
MSCI
EAFE
Index, rose about
1%
, shaking off
tensions between the Ukraine and Russia and talks
of harsher economic sanctions against Russia for
stirring up trouble in the region.
Vanguard European
Stock Index
VEUSX
was the best-performing
foreign fund in the M
500
. The
MSCI
Emerging
Markets Index was also up modestly.
Most bond sectors turned in positive performance in
April. Longer-duration government bonds posted
the strongest gains as some investors sought refuge
from increased equity volatility. The
10
-year Treasury
yield, though higher than a year ago, retreated
some in April. The Barclays
US
Treasury Long Index
and the Barclays Municipal Long
22
+ Year Index
gained around
1
.
5%
. Investment-grade and high-yield
credit benchmarks edged intermediate-term Treasury
indexes, but both did better than the S
&
P
500
.
œ
Total Return
%
Through
A N N U A L I Z E D
04-30-14
1Mo YTD 3Yr
5Yr
10Yr
Benchmark Performance
Markets Choppy in April
Market Overview
|
Dan Culloton
Large Growth
-1.4 -0.9 11.1 17.3 6.8
Large Blend
0.2 1.9 11.7 17.5 6.9
Large Value
0.6 2.9 12.0 17.6 6.8
Mid-Cap Growth
-2.8 -1.5 9.2 18.6 8.1
Mid-Cap Blend
-1.1 1.5 11.0 19.5 8.6
Mid-Cap Value
-0.5 2.6 12.2 20.1 8.9
Small Growth
-5.2 -4.8 8.9 19.3 7.6
Small Blend
-2.6 -1.2 10.7 19.7 8.4
Small Value
-1.8 -0.1 11.5 20.1 8.6
Aggressive Allocation
0.2 1.7 7.7 14.3 6.5
Conservative Allocation
0.7 2.5 5.2 9.7 4.9
Moderate Allocation
0.3 2.0 7.4 12.6 5.9
Communications
-0.8 -1.9 7.4 15.7 7.0
Financials
-2.1 -0.5 10.6 16.0 3.2
Global Real Estate
2.5 5.4 5.9 16.7 8.1
Health
-3.3 3.0 20.4 22.9 10.1
Natural Resources
3.1 5.9 -2.2 10.7 8.9
Precious Metals
2.7 15.2 -25.0 -2.1 5.1
Real Estate
3.1 12.4 8.9 21.4 9.3
Technology
-3.6 -1.4 8.7 18.1 8.1
Utilities
2.8 10.2 12.2 16.4 10.4
S&P 500
0.7 2.6 13.8 19.1 7.7
S&P MidCap 400
-1.6 1.4 11.8 21.1 10.3
Russell 2000
-3.9 -2.8 10.7 19.8 8.67
Diversified Asia/Pac. Stock
-0.6 -2.8 1.5 11.3 6.7
Diversified Emerg. Mkts.
0.6 -0.2 -3.3 11.2 9.9
Europe Stock
1.2 3.0 5.6 15.7 7.7
Foreign Large Blend
0.7 0.8 4.0 12.9 6.4
Foreign Large Growth
0.2 -0.3 3.8 13.9 6.9
Foreign Large Value
1.4 2.3 4.6 12.7 6.3
Foreign Small/Mid Growth
-1.0 0.6 6.9 18.6 9.9
Foreign Small/Mid Value
0.0 3.0 6.2 17.3 8.0
World Stock
0.1 1.6 7.4 15.4 7.2
MSCI EAFE
1.5 2.1 5.7 13.6 6.9
MSCI World
1.0 2.3 9.1 16.0 7.2
MSCI Emerging Markets
0.1 -0.7 -6.2 8.5 8.5
MSCI Europe
2.5 4.7 6.5 15.0 7.8
MSCI Latin America
2.7 3.0 -8.3 8.2 15.4
MSCI Pacific
-0.7 -3.2 4.1 11.0 5.3
High-Yield Bond
0.5 3.1 7.3 13.9 6.9
Inflation-Protected Bond
1.2 2.8 2.2 5.0 4.2
Intermediate-Term Bond
0.8 2.8 3.8 6.5 4.4
Muni National Long
1.3 5.4 6.0 6.0 4.1
World Bond
0.9 3.3 2.3 6.4 4.9
BarCap US Agg Bond
0.8 2.7 3.6 4.9 4.8
BofAML US HY Master II
0.7 3.7 8.4 15.8 8.7
BarCap Municipal
1.2 4.6 5.6 5.5 4.8
