By analyzing over 23,000 US registered fund share classes every month, the Signal Threshold Benchmark© service provides over 150 fund benchmarks across 4 major asset classes and 15 broad allocations based on how funds actually behave vs. what their fund literature might declare. The results below can help investors determine if they should be 🙂 happy or 🙁 sad with their funds and investment managers performance in April 2024.
The average across each of the Signal Threshold Major Asset Class Benchmarks for April 2024 was -1.32%. The underlying Signal Threshold Major Asset Class Benchmarks:
Asset Class | Number of Benchmark Classified Funds | Return |
Equity | 11,924 | -2.88 |
Fixed Income | 5,920 | -0.53 |
Mixed Assets | 4,325 | -2.20 |
Money Market | 842 | 0.34 |
Summary | 23,011 | -1.32 |
The Signal Threshold Broad Allocation Benchmarks sorted by average return within each asset class:
Allocation Benchmark | Asset Class | Number of Benchmark Classified Funds | Return |
Alternatives Equity | Equity | 488 | 0.12 |
World Equity | Equity | 3,581 | -2.33 |
Sector Equity | Equity | 1,351 | -4.34 |
US Diversified Equity | Equity | 6,504 | -4.96 |
Alternatives Fixed Income | Fixed Income | 92 | 4.15 |
Short / Intermediate Municipal | Fixed Income | 378 | -0.54 |
Short / Intermediate Corporate | Fixed Income | 1,105 | -0.94 |
General Municipal Fixed Income | Fixed Income | 1,236 | -1.09 |
US Treasury & Government | Fixed Income | 294 | -1.47 |
General Domestic Fixed Income | Fixed Income | 1,850 | -1.89 |
World Fixed Income | Fixed Income | 965 | -1.92 |
Alternatives Mixed Assets | Mixed Assets | 230 | -1.27 |
Mixed Assets | Mixed Assets | 4,095 | -3.14 |
Money Market | Money Market | 726 | 0.41 |
Municipal Money Market | Money Market | 116 | 0.27 |
The top performing Signal Threshold Fund Benchmark within each broad allocation, sorted by average return:
Fund Benchmark | Allocation | Asset Class | Number of Benchmark Classified Funds | Return |
Dedicated Short Bias | Alternatives | Equity | 109 | 9.02 |
Precious Metals Equity | World Equity | Equity | 65 | 4.68 |
Global Natural Resources | Sector Equity | Equity | 53 | 0.89 |
Institutional Money Market | Money Market | Money Market | 79 | 0.42 |
Loan Participation | General Domestic Fixed Income | Fixed Income | 269 | 0.32 |
Tax-Exempt Money Market | Municipal Money Market | Money Market | 116 | 0.27 |
Ultra-Short Obligations | Short / Intermediate Corporate | Fixed Income | 242 | 0.06 |
Short Municipal Debt | Short / Intermediate Municipal | Fixed Income | 115 | -0.19 |
Short U.S. Government | US Treasury & Government | Fixed Income | 72 | -0.37 |
California Short-Intermediate Municipal | General Municipal Fixed Income | Fixed Income | 44 | -0.61 |
Energy MLP | Alternatives | Mixed Assets | 102 | -0.70 |
Global High Yield | World Fixed Income | Fixed Income | 82 | -0.87 |
Absolute Return Bond | Alternatives | Fixed Income | 75 | -1.09 |
Real Return | Mixed Assets | Mixed Assets | 79 | -2.17 |
Options Arbitrage / Options Strategies | US Diversified Equity | Equity | 330 | -2.90 |
The bottom performing Signal Threshold Fund Benchmark within each broad allocation, sorted by average return:
Fund Benchmark | Allocation | Asset Class | Number of Benchmark Classified Funds | Return |
Equity Leverage | Alternatives | Equity | 132 | -10.60 |
Health / Biotechnology | Sector Equity | Equity | 76 | -7.50 |
Small-Cap Growth | US Diversified Equity | Equity | 586 | -6.72 |
General U.S. Treasury | General Domestic Fixed Income | Fixed Income | 58 | -5.33 |
Global Small-Mid-Cap | World Equity | Equity | 140 | -5.06 |
Alternative Energy | Mixed Assets | Mixed Assets | 36 | -4.49 |
International Income | World Fixed Income | Fixed Income | 120 | -2.71 |
Intermediate U.S. Government | US Treasury & Government | Fixed Income | 61 | -2.49 |
Core Bond | Short / Intermediate Corporate | Fixed Income | 467 | -2.44 |
Alternative Global Macro | Alternatives | Mixed Assets | 66 | -2.00 |
High Yield Municipal Debt | General Municipal Fixed Income | Fixed Income | 222 | -1.27 |
Absolute Return Bond | Alternatives | Fixed Income | 75 | -1.09 |
Tax-Exempt Money Market | Municipal Money Market | Money Market | 116 | 0.27 |
Institutional U.S. Government Money Market | Money Market | Money Market | 100 | 0.40 |
The Signal Threshold Benchmark service can be a more realistic approach to determine if investors should be happy 🙂 or sad 🙁 regarding the investment skill of an investment manager and the funds they manage as it is based on actual fund returns. To interact live online with Signal Threshold Benchmark data and view more recent updates, click here. To view the full range of over 150 benchmarks and their corresponding history of returns, subscription information can be found by clicking here.
The Threshold Benchmark service is a component of the Investics Signal service which provides analysis on investment managers and funds level of investment skill vs. luck and provides a forward looking excess return due to skill. To learn more, click here.
Investics Data Services Company, Inc - focuses on, and works in partnership with, the global investor community offering investment data and analytics capabilities, managed services and consulting. Headquartered in Weston, Massachusetts on the outskirts of Boston along “America’s Technology Highway”, Investics services clients globally. For more information on Investics’ various products and services, please visit www.investics.com.
DISCLAIMER: The underlying source data used as input to calculate the various scores, measures, rankings and ratings in the Investics Signal service is publicly available and updated monthly by the respective investment management firms. The investment theory and methodologies used are based on various research papers and presentations (which are provided to paid subscribers of Signal service), as well as other standard statistical and mathematical methods. The Signal service cannot guarantee future performance and therefore does not indicate whether an investment into a fund or with an investment manager will gain or lose value. Any information provided herein is for informational purposes only and is not intended to be personal financial advice. Instead it only determines how much of the excess return is expected based solely on the methodologies therein due to the investment manager skill vs. luck components of a derived alpha. Further, each investor is responsible for their own investment decisions. Before any investment decision is made or conclusion drawn, appropriate due diligence should be performed on both the funds and investment managers as the providers of this service (along with its partners and vendors) take no responsibility, credit or blame for any outcome, good, bad or indifferent. Investics makes best efforts to ensure that information represented in the Signal service is calculated and/or presented accurately, but makes no claim to the degree of accuracy of information collected and processed from third parties included in the Signal service. Permission to redistribute Signal results and visuals in any fashion or medium is not granted without a paid subscription to the Signal service and explicit written permission from Investics Data Services, Inc.
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