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M*: Setting The Record Straight On Our Fund Ratings
USNWR also rates mutual funds. You have to be careful with them. For example, they rank the Deutsche Global Macro fund as the top multialternative fund. And if you look at that fund, they have some nice returns on a 3- and 5-year basis:
The problem is, it was a 100% equity fund until May 2017. Down 48% in 2008! Apparently, Deutsche totally changed the strategy five months ago from long only to global macro. Since the change, the performance has been meager - up less than 2%.
Morningstar at least informs the reader about the strategy change. USNWR does not.
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USNWR also rates mutual funds. You have to be careful with them. For example, they rank the Deutsche Global Macro fund as the top multialternative fund. And if you look at that fund, they have some nice returns on a 3- and 5-year basis:
https://money.usnews.com/funds/mutual-funds/multialternative/deutsche-global-macro-fund/dbisx
The problem is, it was a 100% equity fund until May 2017. Down 48% in 2008! Apparently, Deutsche totally changed the strategy five months ago from long only to global macro. Since the change, the performance has been meager - up less than 2%.
Morningstar at least informs the reader about the strategy change. USNWR does not.