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Fund Performance - Should You be 🙂 Happy or 🙁 Sad?

Updated: 5 days ago

By analyzing over 23,000 US registered funds every month, the iMEA 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 iMEA Threshold Major Asset Class Benchmarks for April 2024 was -1.32%. The underlying iMEA 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 iMEA 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 iMEA 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 iMEA 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 iMEA 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 iMEA Threshold Benchmark data 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 iMEA Threshold Benchmark service is a component of the Investics Manager Evaluation Analytics (iMEA) 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 Manager Evaluation Analytics (iMEA) 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 iMEA service), as well as other standard statistical and mathematical methods. The iMEA 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 iMEA 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 iMEA service. Permission to redistribute iMEA results and visuals in any fashion or medium is not granted without a paid subscription to the iMEA service and explicit written permission from Investics Data Services, Inc.

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