Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Support MFO
Donate through PayPal
I need a top performing International or World fund which lost < 30% during the 2008 crisis
@Ted, Goldman Sachs does have some nice funds, I have their MSEGX, which seems to have similar returns, but with less International. Not an easy ride at times, but rewarding.
Re HSIEX. I’m missing something here. Lipper scores it lowest (1) on: Total Return, Consistent Return and Expenses. (But rates it highest (5) for Preservation). Shows a negative return for 3 years. What’s to like here?
I guess what I'm saying is that maybe your criterion is not realistic.
There ya go. I was wondering the same thing. T. Rowe’s Spectrum International (PSILX) lost over 40% in ‘08 or I would have nominated it. Not exactly what you’d call an aggressive fund. International funds generally got hit harder than domestic in ‘08.
@carew388: the only issue is I can't be sure the same Managers who got it through 07-09 period are still there. It is managed by committee and several members have left.
@JoJo26: Can you provide more details? You mentioned they were previously led. The purpose of my request is to research who was responsible for the 2008 performance.
I misread 2008 crisis as 2008 calendar year. The SGENX SGOVX allocation funds had maximum drawdowns of 32.6 and 32.1 respectively, even with their allocations to bonds and gold, so I would be curious to know which international/world funds bettered that performance.
M* reports a drawdown for SGENX of 36.3% (5/19/08 - 3/6/09), or if you want to keep it within 2008, a drawdown of 34.9% (5/19/08 - 11/20/08).
Here's the cumulative return chart for the wider range (you can mouse over to get returns for shorter periods).
FWIW, Yahoo Finance closing and adjusted closing prices for these dates are: 05/19/08: $46.50 ($32.31 adjusted) 11/20/08: $30.21 ($21.03 adjusted) 03/06/09: $27.59 ($20.61 adjusted, after div of $2.453 on 12/17/08)
Give or take rounding error of 0.1%, the Yahoo and M* figures match.
MFO may have different (smaller) drawdown figures because of differences in defining "drawdown". I just sort of eyeballed it, looking for the highest (not last) peak before a general downward trend. Likewise, I looked for the lowest (not earliest) trough before a general upward trend. Shorten the period by using a later peak and earlier trough and the drawdown will be less.
Regardless, SGENX dropped about 35% between May and November 2008 - whether you want to consider that one drawdown or a sequence of drawdowns. And it lost even more over the stretch from May 2008 to March of 2009.
P.S. I assumed that a 30% calendar year loss was intended as a proxy for a higher maximum acceptable loss (e.g. 3/8 or 37.5%) over the full decline (from Spring 2008 to Spring 2009). I'm not aware of "real" funds (e.g. excluding MMFs, Treasuries, and such) that declined less than 30% overall.
Comments
Regards
Ted
M* Snapshot MGGPX:
http://performance.morningstar.com/fund/performance-return.action?t=MGGPX®ion=usa&culture=en_US
Regards,
Ted
There ya go. I was wondering the same thing. T. Rowe’s Spectrum International (PSILX) lost over 40% in ‘08 or I would have nominated it. Not exactly what you’d call an aggressive fund. International funds generally got hit harder than domestic in ‘08.
Here's the cumulative return chart for the wider range (you can mouse over to get returns for shorter periods).
FWIW, Yahoo Finance closing and adjusted closing prices for these dates are:
05/19/08: $46.50 ($32.31 adjusted)
11/20/08: $30.21 ($21.03 adjusted)
03/06/09: $27.59 ($20.61 adjusted, after div of $2.453 on 12/17/08)
Give or take rounding error of 0.1%, the Yahoo and M* figures match.
MFO may have different (smaller) drawdown figures because of differences in defining "drawdown". I just sort of eyeballed it, looking for the highest (not last) peak before a general downward trend. Likewise, I looked for the lowest (not earliest) trough before a general upward trend. Shorten the period by using a later peak and earlier trough and the drawdown will be less.
Regardless, SGENX dropped about 35% between May and November 2008 - whether you want to consider that one drawdown or a sequence of drawdowns. And it lost even more over the stretch from May 2008 to March of 2009.
P.S. I assumed that a 30% calendar year loss was intended as a proxy for a higher maximum acceptable loss (e.g. 3/8 or 37.5%) over the full decline (from Spring 2008 to Spring 2009). I'm not aware of "real" funds (e.g. excluding MMFs, Treasuries, and such) that declined less than 30% overall.