October 5, 2021

Equity Funds Suffer First Quarterly Loss in Six for Q3, with an Average 1.52% Decline

by Tom Roseen.

Concerns over rising COVID cases, U.S. politics, inflation worries, and a possible default from China’s property giant Evergrande pushed equity funds to their first quarterly loss in six in Q3. For Q3 2021, the average equity fund posted a 1.52% loss, with Lipper’s Commodities Funds macro-classification (+4.77%) outpacing the other six major equity groups for the second consecutive quarter. For September, the average equity fund declined 3.57%—its largest one-month loss since March 31, 2020—and its first monthly downturn since October 2020.

For the quarter, only 21 of Lipper’s 104 equity and mixed-assets fund classifications posted positive returns. In total, only 26% of all individual equity and mixed-assets funds posted plus-side returns for the quarter.

In this segment, I highlight the third quarter and September 2021 performance results for equity mutual funds and ETFs.


  • For Q3 2021, equity funds (-1.52% on average) posted their first quarter quarterly decline in six.
  • Lipper’s Commodities Funds macro-classification (+4.77%) outperformed the other six broad-based equity groups, followed by Alternative Equity Funds (-0.02%) and Mixed-Assets Funds (-0.77%).
  • The Commodities Energy Funds (+12.62%) classification posted the strongest returns in the equity universe for Q3.
  • The World Equity Funds macro-classifications housed three of the four worst performing classifications in the equity universe for Q3, with China Region Funds (-13.13%) posting the weakest return of the group.
  • Nonetheless, India Region Funds (+10.85%) and Japanese Funds (+4.70%) were among the seven top performers in the equity fund universe.

Click here or the Download Full Report link in the upper right-hand column of this page to download the Third Quarter 2021 FundMarket Insight Report: Equity Funds Suffer First Quarterly Loss in Six for Q3, with an Average 1.52% Decline.

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