302 / 772
12
During June, most eyes were pointed in two places:
Athens, Greece and the U.S. Federal Reserve’s Board
of Governors. The Greek circus grabbed headlines as
that nation headed toward default and an exit from
the eurozone. Fed chair Janet Yellen hinted that while
she still expects interest rates to rise later this year,
they should remain low for some time to come. Else-
where, macroeconomic reports were mostly positive,
with existing- and new-home sales numbers better
than expected, durable goods orders up (ex-transpor-
tation orders), and solid consumption numbers. U.S.
crude oil prices surged during June but pulled back
with the Greek-debt crisis, ending the month at about
$63
.
50
a barrel. U.S. bond prices were down in June.
The U.S.’ top-performing sectors—both of which
were flat for the month—were the health-care
and consumer discretionary sectors. The weakest-
performing U.S. equity sector was the bondlike
utilities sector, which slid more than
5%
in the
wake of the Fed’s signals.
Stocks were flat in developed foreign markets but
down in emerging markets for the second-straight
month. The
MSCI
Emerging Markets Index declined
2
.
6%
on top of its
2
.
5%
loss in May. Chinese stocks
continued their recent slide as investors remained
spooked by the likelihood of a market bubble. That
weighed on
Matthews China
MCHFX
, which lost
more than
5%
. China weakness, strong U.S. economic
reports, and a strong dollar hurt broader-based
emerging-markets funds such as Silver-rated
DFA
Emerging Markets Value
DFEVX
, which fell more
than
3%
in June.
The U.S. bond market declined in June amid strong
economic news. The Barclays U.S. Aggregate
Bond Index fell about
1
.
1%
for the month, with yields
up across all bond categories.
K
Total Return
%
Through
A N N U A L I Z E D
06-30-15
1Mo YTD 3Yr
5Yr
10Yr
Benchmark Performance
The Market’s Achilles’ Heel
Takes a Shot
Market Overview
|
Robert Goldsborough
Large Growth
-1.2 4.0 17.5 17.0 8.3
Large Blend
-1.9 1.1 16.5 15.8 7.3
Large Value
-2.1 0.1 15.8 15.0 6.6
Mid-Cap Growth
-0.5 5.9 17.5 16.8 8.9
Mid-Cap Blend
-1.5 2.5 17.3 15.9 8.0
Mid-Cap Value
-1.9 1.6 17.8 16.1 8.0
Small Growth
1.6 7.7 18.0 17.7 9.0
Small Blend
0.4 3.5 16.7 15.9 7.9
Small Value
-0.2 1.7 16.1 14.8 7.6
Aggressive Allocation
-1.9 1.9 11.9 11.8 6.0
Conservative Allocation
-1.5 0.6 5.9 7.0 4.8
Moderate Allocation
-1.7 1.2 10.1 10.4 6.0
Communications
-1.8 4.3 12.4 12.8 5.6
Financial
0.5 3.6 17.7 12.8 3.0
Global Real Estate
-3.6 -1.0 9.2 11.1 4.6
Health
0.4 15.7 31.3 26.6 13.8
Natural Resources
-4.3 -2.4 0.5 3.9 4.3
Equity Precious Metals
-7.5 -4.4 -22.3 -16.3 0.8
Real Estate
-4.2 -5.3 8.2 13.5 6.3
Technology
-3.2 3.8 17.8 16.3 9.5
Utilities
-5.4 -6.7 9.8 12.4 7.3
S&P 500
-2.0 1.2 17.2 17.3 7.8
S&P MidCap 400
-1.3 4.2 18.6 17.8 9.7
Russell 2000
0.8 4.7 17.9 17.1 8.4
Diversified Pacific/Asia
-2.1 9.2 12.1 9.3 6.8
Diversified Emerging Mkts
-2.3 1.8 3.8 3.5 7.3
Europe Stock
-3.0 6.4 13.3 10.9 6.3
Foreign Large Blend
-2.8 5.9 10.8 8.9 5.2
Foreign Large Growth
-2.4 6.6 11.3 9.9 6.0
Foreign Large Value
-2.7 5.5 10.7 8.6 4.2
Foreign Small/Mid Growth
-1.3 9.1 14.2 12.8 8.2
Foreign Small/Mid Value
-2.3 8.4 13.8 10.2 6.0
World Stock
-2.2 3.4 13.5 12.3 6.7
MSCI World
-2.3 2.6 14.3 13.1 6.4
MSCI Emerging Markets
-2.9 1.6 2.3 3.2 7.1
MSCI EAFE
-3.1 6.1 11.6 9.7 5.0
MSCI Europe
-3.1 3.8 12.4 10.0 5.0
MSCI Latin America
0.8 -7.7 -10.6 -7.1 4.5
MSCI Pacific
-2.4 8.8 11.2 8.8 5.4
High Yield Bond
-1.3 2.4 6.0 7.6 6.5
Inflation-Protected Bond
-0.9 0.1 -1.2 2.4 3.2
Intermediate-Term Bond
-1.1 0.0 2.3 3.7 4.2
Muni National Long
-0.2 -0.1 3.2 4.7 4.0
World Bond
-1.2 -2.4 0.7 2.8 3.9
BarCap US Agg Bond TR USD -1.1 -0.3 1.7 3.1 4.2
BofAML US HY Master II TR -1.5 2.5 6.8 8.4 7.8
BarCap Municipal TR USD -0.1 0.1 3.1 4.5 4.5