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I've held APPLX for a while. It's YTD number bogles the mind. Anyone suffering with me on this? Any insight on the precipitous drop? The fund has held 5% in Gold and Gold-related forever. If I was expecting to outperform market, it would be about right now. However things have really gone south. There is nothing on their website addressing the YTD numbers either.
Best way to figure this out is to look at its holdings and how they've performed. You can see their performance at the bottom of the page in the third to last column--"1-year Return"-- here:https://morningstar.com/funds/xnas/applx/portfolio This is the problem with concentrated funds I've mentioned in other posts--too much idiosyncratic stock specific risks. One or two blowups and you really suffer. Weibo, China Mobile, The Mosaic Company and Spirit Airlines are the primary culprits here. I imagine the China and travel-related exposure hasn't helped in a coronavirus environment.
I once held but sold long ago for ARTGX. You're right about the perplexing performance. During 2008 their conservative nature was their claim to fame. Perhaps they believe the downturn will be short-lived.
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This is the problem with concentrated funds I've mentioned in other posts--too much idiosyncratic stock specific risks. One or two blowups and you really suffer. Weibo, China Mobile, The Mosaic Company and Spirit Airlines are the primary culprits here. I imagine the China and travel-related exposure hasn't helped in a coronavirus environment.