Biggest 2017 mutual fund outflows
January 3, 2018 3:16 PM
The largest net outflows among mutual funds in 2017 weren’t relegated to one or two areas – they came across the board: funds focused on growth, income, high-yield and various sectors, as well as one ETF.
It wasn’t pronounced underperformance that prompted advisors and investors to head for the exits; all the funds on this list were in the black for the year, posting an average gain of 19.9%. That’s nearly as strong as the 21% advance for the overall U.S. market, as measured by the Vanguard Total Market ETF.
But one common thread was active management. Of the 20 largest net outflows, 18 came from actively managed funds. Active funds lost 92% of the $94 billion that advisors and investors pulled from these 20 funds last year. That’s essentially the flip side of our data slide show late last month that showedpassive funds notching the biggest net inflows . Another difference can be found in the costs: The average expense among these cash losers was 67 basis points, with a couple over 1%. The average among the (mostly passive) cash gainers last time was 31 basis points, with over half below 20 bps.
Scroll through to see the largest 2017 net outflows among mutual funds, as well as three-year annualized returns for each fund and expense ratios. All data from Morningstar.
It wasn’t pronounced underperformance that prompted advisors and investors to head for the exits; all the funds on this list were in the black for the year, posting an average gain of 19.9%. That’s nearly as strong as the 21% advance for the overall U.S. market, as measured by the Vanguard Total Market ETF.
But one common thread was active management. Of the 20 largest net outflows, 18 came from actively managed funds. Active funds lost 92% of the $94 billion that advisors and investors pulled from these 20 funds last year. That’s essentially the flip side of our data slide show late last month that showed
Scroll through to see the largest 2017 net outflows among mutual funds, as well as three-year annualized returns for each fund and expense ratios. All data from Morningstar.
20. BlackRock High Yield Bond (BRHYX)
2017 Outflows (millions): -$3,072
3-Yr. Return: 5.77%
Expense Ratio: 0.53%
Total Assets (millions): $16,912
3-Yr. Return: 5.77%
Expense Ratio: 0.53%
Total Assets (millions): $16,912
19. American Funds Income Fund of Amer (AMECX)
2017 Outflows (millions): -$3,305
3-Yr. Return: 6.90%
Expense Ratio: 0.56%
Total Assets (millions): $111,292
3-Yr. Return: 6.90%
Expense Ratio: 0.56%
Total Assets (millions): $111,292
18. Artisan International Investor (ARTIX)
2017 Outflows (millions): -$3,389
3-Yr. Return: 3.85%
Expense Ratio: 1.19%
Total Assets (millions): $14,239
3-Yr. Return: 3.85%
Expense Ratio: 1.19%
Total Assets (millions): $14,239
17. American Funds Capital Income (CAIBX)
2017 Outflows (millions): -$3,588
3-Yr. Return: 5.37%
Expense Ratio: 0.61%
Total Assets (millions): $109,301
3-Yr. Return: 5.37%
Expense Ratio: 0.61%
Total Assets (millions): $109,301
16. T. Rowe Price Equity Income (PRFDX)
2017 Outflows (millions): -$3,656
3-Yr. Return: 8.44%
Expense Ratio: 0.66%
Total Assets (millions): $22,563
3-Yr. Return: 8.44%
Expense Ratio: 0.66%
Total Assets (millions): $22,563
15. Fidelity Diversified International (FDIVX)
2017 Outflows (millions): -$3,721
3-Yr. Return: 7.61%
Expense Ratio: 1.05%
Total Assets (millions): $19,185
3-Yr. Return: 7.61%
Expense Ratio: 1.05%
Total Assets (millions): $19,185
14. Strategic Advisers Core (FCSAX)
2017 Outflows (millions): -$3,756
3-Yr. Return: 10.28%
Expense Ratio: 0.49%
Total Assets (millions): $24,270
3-Yr. Return: 10.28%
Expense Ratio: 0.49%
Total Assets (millions): $24,270
13. T. Rowe Price Retirement 2020 (TRRBX)
2017 Outflows (millions): -$3,792
3-Yr. Return: 7.12%
Expense Ratio: 0.63%
Total Assets (millions): $25,234
3-Yr. Return: 7.12%
Expense Ratio: 0.63%
Total Assets (millions): $25,234
12. Vanguard Windsor II Inv (VWNFX)
2017 Outflows (millions): -$3,840
3-Yr. Return: 8.11%
Expense Ratio: 0.33%
Total Assets (millions): $50,094
3-Yr. Return: 8.11%
Expense Ratio: 0.33%
Total Assets (millions): $50,094
11. Vanguard Health Care Inv (VGHCX)
2017 Outflows (millions): -$4,164
3-Yr. Return: 6.62%
Expense Ratio: 0.37%
Total Assets (millions): $47,587
3-Yr. Return: 6.62%
Expense Ratio: 0.37%
Total Assets (millions): $47,587
10. JPMorgan High Yield (OHYFX)
2017 Outflows (millions): -$4,313
3-Yr. Return: 5.00%
Expense Ratio: 0.75%
Total Assets (millions): $9,433
3-Yr. Return: 5.00%
Expense Ratio: 0.75%
Total Assets (millions): $9,433
9. Franklin Income (FKINX)
2017 Outflows (millions): -$4,421
3-Yr. Return: 4.85%
Expense Ratio: 0.61%
Total Assets (millions): $82,341
3-Yr. Return: 4.85%
Expense Ratio: 0.61%
Total Assets (millions): $82,341
8. T. Rowe Price Equity Index 500 (PREIX)
2017 Outflows (millions): -$4,548
3-Yr. Return: 10.58%
Expense Ratio: 0.21%
Total Assets (millions): $29,685
3-Yr. Return: 10.58%
Expense Ratio: 0.21%
Total Assets (millions): $29,685
7. MainStay Large Cap Growth (MLAAX)
2017 Outflows (millions): $4,780
3-Yr. Return: 10.30%
Expense Ratio: 0.99%
Total Assets (millions): $11,918
3-Yr. Return: 10.30%
Expense Ratio: 0.99%
Total Assets (millions): $11,918
6. Templeton Global Bond (TPINX)
2017 Outflows (millions): -$5,068
3-Yr. Return: 1.40%
Expense Ratio: 0.93%
Total Assets (millions): $38,821
3-Yr. Return: 1.40%
Expense Ratio: 0.93%
Total Assets (millions): $38,821
5. American Funds Growth Fund of Amer (AGTHX)
2017 Outflows (millions): -$5,107
3-Yr. Return: 12.51%
Expense Ratio: 0.64%
Total Assets (millions): $177,609
3-Yr. Return: 12.51%
Expense Ratio: 0.64%
Total Assets (millions): $177,609
4. T. Rowe Price Growth Stock (PRGFX)
2017 Outflows (millions): -$6,027
3-Yr. Return: 14.10%
Expense Ratio: 0.68%
Total Assets (millions): $53,389
3-Yr. Return: 14.10%
Expense Ratio: 0.68%
Total Assets (millions): $53,389
3. Fidelity Growth Company (FDGRX)
2017 Outflows (millions): -$6,145
3-Yr. Return: 15.56%
Expense Ratio: 0.77%
Total Assets (millions): $41,896
3-Yr. Return: 15.56%
Expense Ratio: 0.77%
Total Assets (millions): $41,896
2. Fidelity Low-Priced Stock (FLPSX)
2017 Outflows (millions): -$7,046
3-Yr. Return: 9.12%
Expense Ratio: 0.68%
Total Assets (millions): $39,601
3-Yr. Return: 9.12%
Expense Ratio: 0.68%
Total Assets (millions): $39,601
1. Fidelity Contrafund (FCNTX)
2017 Outflows (millions): -$10,177
3-Yr. Return: 12.82%
Expense Ratio: 0.68%
Total Assets (millions): $123,728
3-Yr. Return: 12.82%
Expense Ratio: 0.68%
Total Assets (millions): $123,728
