12
Tumult in emerging markets, a disappointing December
jobs report, and the Federal Reserve’s announcement
that it would further taper its asset purchases all
weighed on markets in January. The S
&
P
500
lost
3
.
5%
during January. Small caps fared slightly better,
though the Russell
2000
still lost
2
.
8%
by month-end.
Long-struggling equity precious-metals funds finally
posted solid gains amid the turmoil.
USAA Precious
Metals and Minerals
USAGX
gained
9
.
9%
in
January, and
First Eagle
Gold
FEGIX
followed with
a
9
.
8%
return. Both funds benefited from a large
stake in gold-miner
Goldcorp
GG
, which gained
15
.
1%
in January. Health-care stocks also made gains
during the month, driven higher by the biotechnology
industry’s continued run. The average health-care
Morningstar Category fund rose
5
.
0%
, while
Fidelity
Select Biotechnology
FBIOX
returned
13
.
1%
.
Foreign developed markets suffered less than
emerging markets in January. The
MSCI
EAFE
Index
declined by
4%
compared with a
6
.
5%
loss for the
MSCI
Emerging Markets Index. The India-equity and
China-region categories both lost more than
5%
in January. Europe-stock funds offered some shelter,
losing
3
.
6%
in January. Morningstar Medalist funds
Mutual European
TEMIX
and
T. Rowe Price Euro-
pean Stock
PRESX
played defense in January by
losing
1
.
2%
and
2
.
6%
, respectively.
Municipal bonds beat out taxable bonds in January.
The intermediate-term muni-bond category gained
1
.
6%
by month-end, compared with a
1
.
3%
return for
the taxable intermediate-term bond category.
Amer-
ican Funds Tax-Exempt Bond
AFTEX
landed near
the top of the muni category, returning
2
.
1%
. After
a dismal
2013
, long government-bond funds were the
best-performing bond-fund category for the month,
with a
6
.
2%
gain.
œ
Contact Flynn Murphy at
Total Return
%
Through
A N N U A L I Z E D
01-31-14
1Mo YTD 3Yr
5Yr
10Yr
Benchmark Performance
Emerging Markets Take a Thrashing
Market Overview
|
Flynn Murphy
Large Growth
-2.6 -2.6 12.9 19.2 6.3
Large Blend
-3.5 -3.5 12.1 17.9 6.1
Large Value
-3.6 -3.6 12.0 17.5 6.0
Mid-Cap Growth
-2.2 -2.2 12.4 21.3 7.8
Mid-Cap Blend
-2.8 -2.8 12.6 21.2 8.1
Mid-Cap Value
-2.8 -2.8 13.0 21.3 8.3
Small Growth
-2.1 -2.1 14.4 22.8 7.4
Small Blend
-3.4 -3.4 13.5 21.9 7.9
Small Value
-3.8 -3.8 13.2 21.8 8.2
Aggressive Allocation
-2.6 -2.6 8.4 15.0 5.9
Conservative Allocation
-0.6 -0.6 5.4 9.9 4.5
Moderate Allocation
-1.7 -1.7 7.9 13.1 5.3
Communications
-3.3 -3.3 9.6 19.2 6.2
Financials
-3.6 -3.6 10.7 18.5 2.5
Global Real Estate
-1.5 -1.5 5.6 16.9 6.8
Health
5.0 5.0 26.3 22.2 10.6
Natural Resources
-4.1 -4.1 -3.0 10.4 8.2
Precious Metals
9.8 9.8 -22.7 -2.4 2.9
Real Estate
3.4 3.4 8.8 21.4 7.6
Technology
-0.5 -0.5 11.0 23.0 6.9
Utilities
1.2 1.2 11.6 13.3 9.4
S&P 500
-3.5 -3.5 13.9 19.2 6.8
S&P MidCap 400
-2.1 -2.1 14.1 23.2 9.9
Russell 2000
-2.8 -2.8 14.7 22.3 8.3
Diversified Asia/Pac. Stock
-4.7 -4.7 1.9 13.2 6.6
Diversified Emerg. Mkts.
-6.3 -6.3 -3.0 14.6 8.9
Europe Stock
-3.6 -3.6 6.3 17.1 6.9
Foreign Large Blend
-4.5 -4.5 4.7 13.4 5.8
Foreign Large Growth
-4.8 -4.8 5.0 15.0 6.3
Foreign Large Value
-4.0 -4.0 4.7 13.0 5.7
Foreign Small/Mid Growth
-3.0 -3.0 8.4 20.2 9.7
Foreign Small/Mid Value
-2.1 -2.1 6.9 18.3 7.7
World Stock
-3.4 -3.4 8.3 16.2 6.6
MSCI EAFE
-4.0 -4.0 5.9 13.8 6.3
MSCI World
-3.7 -3.7 9.3 16.3 6.4
MSCI Emerging Markets
-6.6 -6.6 -5.8 12.1 7.4
MSCI Europe
-3.9 -3.9 7.1 15.1 6.7
MSCI Latin America
-9.6 -9.6 -13.1 6.9 10.1
MSCI Pacific
-4.5 -4.5 3.8 11.6 5.6
High-Yield Bond
0.5 0.5 7.5 15.0 6.7
Inflation-Protected Bond
1.6 1.6 3.2 5.2 4.0
Intermediate-Term Bond
1.3 1.3 4.0 6.7 4.1
Muni National Long
2.2 2.2 5.9 6.1 3.7
World Bond
0.1 0.1 2.6 6.1 4.3
BarCap US Agg Bond TR USD 1.5 1.5 3.7 4.9 4.6
BofAML US HY Master II TR 0.7 0.7 8.5 17.5 8.4
BarCap Municipal TR USD
2.0 2.0 5.8 5.5 4.4
