Gaining solace from a slightly more dovish Federal Reserve Board, minor declines in inflation figures, and a final resolution to the debt ceiling impasse on Capitol Hill, investors drove equity mutual funds and ETFs to their third consecutive quarterly plus-side return—with the average equity fund posting a 4.36% gain in Q2.
For the quarter, LSEG Lipper’s U.S. Diversified Equity Fund macro-classification (+6.25%) outpaced the other six major equity groups for the first quarter in six. Domestic Sector Equity Funds (+3.79%) took the runner-up position for the quarter, followed by Mixed-Assets Funds (+3.22%), World Equity Funds (+2.85%), World Sector Equity Funds (+1.34%), Alternative Equity Funds (+0.83%), and Commodities Funds (-3.27%).
For the quarter, 87 of Lipper’s 104 equity and mixed-assets fund classifications posted positive returns. In total, 90.52% of all individual equity and mixed-assets funds posted plus-side returns for the quarter.
In this segment, I highlight the second quarter 2023 and June performance results for conventional equity mutual funds and ETFs.
Summary:
- For Q2 2023, equity funds (+4.36% on average) posted their third quarterly gain in a row.
- Lipper’s U.S. Diversified Equity Funds macro-classification (+6.25%) outpaced the other six broad-based equity groups, followed by Domestic Sector Equity Funds (+3.79%) and Mixed-Assets Funds (+3.22%).
- Latin American Funds (+15.85%) posted the strongest return in the equity universe for Q2.
- China Region Funds chalked up the largest losses in the equity universe, declining 10.36% for the quarter.
- For June, the average equity fund rose 5.67%.
Click here or the Download Full Report link in the upper right-hand column of this page to download the Second Quarter 2023 Equity FundMarket Insight Report: Equity Funds Post Their Third Straight Quarter of Plus-Side Returns for Q2 2023.
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