October 10, 2022

FIXED INCOME FUNDS SUFFER THIRD STRAIGHT QUARTER WITH NEGATIVE PERFORMANCE

by Jack Fischer.

REUTERS/Kevin Lamarque

Fixed income funds realized a return of negative 2.98% on average during the third quarter of 2022. This was the third consecutive negative quarterly performance for fixed income funds
and the fourth over the last five quarters. The last time fixed income funds reported three straight negative performing quarters was Q2 through Q4 of 2015.

Of the macro-groups, Alternative Bond Funds (-1.44%), General Domestic Taxable Fixed Income Funds (-1.88%), and National Municipal Bed Funds (-2.03 %) suffered the least over the last three months. Government/Treasury Funds (-4.47%), World Taxable Fixed Income Funds (-4.18%), and General Municipal Debt Funds (-4.04%) closed the quarter as the worst-performing macro-groups.

Summary:

  • Taxable bond funds (-2.86%) outperformed tax-exempt bond funds (-3.32%) in quarterly performance for the fourth time in the last six quarters and the seventh time over the past 10.
  • Only three of the 51 Lipper fixed income classifications ended the quarter with plus-side quarterly performance. Seven Lipper classifications ended Q3 with performance better than negative 1.0%, up from the three in Q1 and four in Q2.
  • Our top three Lipper classifications over the quarter were Loan Participation Funds (+0.92%), Short High Yield Funds (+0.51%), and Ultra-Short Obligations Funds (+0.23%).
  • The worst-performing classifications on average were General U.S. Treasury Funds (-6.84%), International Income Funds (-6.12%), and Corporate Debt Funds A Rated (-5.02%).

Click here or the Download Full Report link in the upper right-hand column of this page to download the Third Quarter 2022 FIXED INCOME FUNDS SUFFER THIRD STRAIGHT
QUARTER WITH NEGATIVE PERFORMANCE

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