Barron’s Funds Quarterly (2024/Q2–July 8, 2024)
https://www.barrons.com/topics/mutual-funds-quarterly(Performance data quoted in this Supplement are for 2024/Q2 and YTD to 6/30/24)
Pg L2: In comparing the best mutual funds (typically, active) vs the best ETFs (typically, passive, as the active ETFs are still evolving) in categories, the former were ahead (the 1st mentioned). Beware that leading active funds don’t maintain their lead after a few years; and some of these leading active funds are also concentrated. (Picture would change if average or typical mutual funds and ETFs were considered) (By
@LewisBraham at MFO)
US Large-Caps GQEPX vs VOO, FDGRX vs QQQ
US Small-Caps AVALX vs RWJ, HFCGX vs IJR, NEAGX vs XSMO
Balanced/Hybrids DGIFX vs NTSX, FPURX vs OCIO (an unexciting category for ETFs)
International GSINX vs IDMO, BISAX vs FYLD, MSMLX vs EEMS
Bonds LCTRX vs FBND, FAGIX vs FALN (FAGIX may be conservative-allocation due to its equity)
Pg L6: Funds with exposure to Nvidia/NVDA and/or Eli Lilly/LLY did well, especially large-cap growth – HCMGX / HCMIX, FOCPX, VPMCX / VPMAX, VIGRX / VIGAX; ETFs QQQ, IWY, VUG (some leveraged funds are mentioned also). Other fund categories that did well include India, precious metals, utilities. (By
@LewisBraham at MFO)
MORE Fund Stories (Part 2)
FUNDS. SMALL-CAP (SC) R2000/IWM is more cyclical after the June 28 rebalancing as companies such as SMCI have moved out. The Top 5 R2000 stocks are FTAI, INSM, ANF, FN, SFM, accounting for a whopping 1.93%. The Top 5 sectors are healthcare, industrials, financials, tech, consumer cyclicals. If you own R2000/IWM, keep an eye on Fed news. (Better, own SP SC 600 IJR, SPSM)
SCs are going through a period of profit slump. This notwithstanding that 40% of R2000/IWM are unprofitable. A simple solution is to use better SC index SP SC 600 (IJR, SPSM), or SC-quality DFAS (active).
INTERVIEW/Q&A. FUNDS. David BARON, BFGFX / BFGIX. He likes large positions in founder-led growth companies that are trading at discount from firm’s intrinsic value estimates, for example, TSLA, SpaceX (private), BIRK, ONON, SPOT, SHOP, H, FIGS, etc. His goal is to double the money in 4-5 years. He thinks that sideline money can support this rally; his upside now is 20-30%, downside 10-15%. Ron BARON (81) founded Baron Capital and now sons David (44) and Michael also work for the firm. Both are involved with multiple funds.
RETIREMENT. Don’t overstay in “cash” when rates start dropping. Gradually increase maturity – T-Notes, CDs, short/intermediate-term bond funds. Consider buffer funds such as MAXJ – it holds IVV with option collars.
LINK 
Comments
Why bother buying and holding any index of small or mid caps? Tech companies go public these days as near large caps. So, very little growth potential left while in these indices. Seems like loss potential to zero and limited upside for components. The successful components graduate to SPY and the remaining unlimited potential is captured there. Seems like active is the only solution if one is itiching to buy and hold these caps.