158 / 772
12
The markets were volatile in March. U.S. large caps
ended the month down more than
1%
, while
small caps gained nearly
2%
. Foreign equities had
mixed results.
In the United States, growth generally outperformed
value, with health-care stocks leading the way.
Fidelity Select Health Care
FSPHX
,
T. Rowe Price
Health Sciences
PRHSX
, and
Vanguard Health
Care
VGHCX
all rallied more than
2%
and ranked
among the best-performing funds in the Morningstar
500
. Meanwhile, the materials sector had a rough
showing, as precious-metals miners sold off on
concerns that the Fed’s rate hikes will pressure gold
prices.
Oppenheimer Gold & Special Minerals
OPGSX
and
Vanguard Precious Metals and
Mining
VGPMX
lost
13%
and
9%
, respectively.
Foreign developed-markets stocks, as measured by
the
MSCI
EAFE
Index, retreated
1
.
5%
, though results
varied beneath the surface. Japan gained more than
1%
, as aggressive monetary stimulus helped boost
stock prices. In Europe, depreciating currencies acted
as a significant headwind. In fact, the
MSCI
Europe
Index registered about a
1%
gain in local-currency
terms, though it lost more than
2%
after adjusting for
depreciation. The United Kingdom ranked among the
worst-performing countries, falling nearly
6%
. Mean-
while, the
MSCI
Emerging Markets Index tumbled
more than
1%
because of declining currencies. Latin
America led the declines, with Brazil down
11%
.
Interest rates fell moderately, with the
10
-year Trea-
sury yield finishing the month below
2%
. That helped
the Barclays Government Long Index register a
1
.
2%
gain. Investment-grade corporate bonds ended
the month about flat, while high-yield securities
fell
0
.
50%
.
œ
Total Return
%
Through
A N N U A L I Z E D
03-31-15
1Mo YTD 3Yr
5Yr
10Yr
Benchmark Performance
March Madness
Market Overview
|
Leo Acheson
Large Growth
-1.0 3.4 15.1 13.9 8.5
Large Blend
-1.3 1.1 14.9 13.0 7.3
Large Value
-1.4 0.2 14.4 12.2 6.7
Mid-Cap Growth
0.7 5.4 15.0 14.5 9.2
Mid-Cap Blend
0.1 3.3 15.7 13.7 8.4
Mid-Cap Value
0.0 2.6 16.3 13.7 8.4
Small Growth
1.6 5.8 15.2 15.1 9.2
Small Blend
1.5 3.6 14.9 13.7 8.3
Small Value
1.2 2.3 14.3 12.6 7.9
Aggressive Allocation
-0.8 2.3 10.7 9.7 6.2
Conservative Allocation
-0.5 1.5 5.9 6.5 5.1
Moderate Allocation
-0.7 1.8 9.4 9.0 6.3
Communications
-3.4 2.1 11.4 10.7 5.8
Financial
0.3 0.1 13.9 8.7 3.0
Global Real Estate
-0.5 4.1 11.2 10.2 5.9
Health
2.2 10.7 30.3 22.4 14.2
Natural Resources
-3.8 -1.4 -2.9 0.7 4.9
Equity Precious Metals
-12.5 -3.9 -25.7 -14.5 0.8
Real Estate
1.4 4.4 13.1 15.1 8.8
Technology
-1.7 3.0 13.7 13.5 9.8
Utilities
-0.9 -2.3 12.5 11.9 8.4
S&P 500
-1.6 0.9 16.1 14.4 8.0
S&P MidCap 400
1.3 5.3 17.0 15.7 10.3
Russell 2000
1.8 4.3 16.3 14.6 8.8
Diversified Pacific/Asia
1.2 7.4 9.4 6.4 6.6
Diversified Emerging Mkts
-1.7 1.1 0.6 1.4 7.6
Europe Stock
-1.8 4.8 9.7 7.4 6.0
Foreign Large Blend
-1.3 4.7 7.9 5.7 5.0
Foreign Large Growth
-0.9 5.1 8.2 6.8 5.8
Foreign Large Value
-1.7 4.1 7.4 5.0 4.1
Foreign Small/Mid Growth
-0.4 5.3 10.5 9.9 7.8
Foreign Small/Mid Value
-1.0 4.6 9.0 6.8 5.6
World Stock
-1.1 2.8 10.9 9.4 6.6
MSCI World
-1.6 2.3 12.2 10.0 6.4
MSCI Emerging Markets
-1.5 2.1 -0.2 1.0 7.8
MSCI EAFE
-1.4 5.5 8.8 6.0 4.8
MSCI Europe
-2.7 3.5 9.4 6.4 4.9
MSCI Latin America
-7.6 -10.1 -15.8 -10.1 5.0
MSCI Pacific
0.5 7.6 8.4 5.9 5.1
High Yield Bond
-0.3 2.3 6.3 7.5 6.7
Inflation-Protected Bond
-0.6 1.1 -0.2 3.2 3.7
Intermediate-Term Bond
0.3 1.5 3.4 4.6 4.6
Muni National Long
0.3 1.1 4.3 5.3 4.3
World Bond
-0.8 -0.5 1.6 3.2 4.1
BarCap US Agg Bond TR USD 0.4 1.5 3.0 4.3 4.8
BofAML US HY Master II TR -0.5 2.5 7.5 8.4 8.0
BarCap Municipal TR USD
0.3 1.0 4.1 5.1 4.8