Our Pick Of The Top 10 Best-Performing Funds of 2024 (2024)
Our methodology sets out the criteria we used to select our pick of the best-performing funds in each Investment Association (IA) category, which were as follows:
Top of the list by some margin was the JP Morgan Emerging Europe, Middle East & Africa investment trust, with a one-year return of almost 50%. The Amundi Semiconductor ETF comfortably took second place with a one-year return of 43%, well ahead of the iShares Poland ETF at 35%.
After a torrid 2022, the resurgence in US technology stocks propelled the Manchester & London trust and Natixis Loomis Sayles U.S. Equity Leaders fund up the leaderboard, with one year returns of 30% and above.
Interestingly, the top UK-invested fund, Ninety One UK Special Situations, outperformed the Artemis SmartGARP European fund, despite a mixed year for UK equities.
In other categories, bonds shrugged off the global rout of 2022 to deliver healthy returns. Despite a strong showing from Japan, Asia Pacific funds continued to face challenges around the re-opening of the Chinese economy and geopolitical tensions.
Another theme was the outperformance of actively-managed funds, with only two ETFs making the grade. It was also a successful year for investment trusts, which topped two of the 10 categories, despite being a much smaller sector than their open-ended counterparts.
We look at each of the top-performing funds in more detail below.
The Vanguard High-Yield Corporate Fund is the company's top performing bond fund over the past decade. It features a high-yield, intermediate-term fixed income portfolio.
The Vanguard High-Yield Corporate Fund is the company's top performing bond fund over the past decade. It features a high-yield, intermediate-term fixed income portfolio.
There are indications that interest rates may start to fall in the near future, with widespread anticipation for multiple interest rate cuts in 2024. Falling rates offer the potential for capital appreciation and increased diversification benefits for bond investors.
Morningstar Direct ranked the funds in terms of their 10-year annualized returns, as measured on a specific date (as opposed to the end of the month) — in this case, Oct. 19, 2023. No. 1 on the list is the ProFunds Semiconductor UltraSector Fund, which yielded 29.21% over the past decade.
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The combination of high mortgage rates, steep home prices and low inventory levels are lining up to make the 2024 housing market a challenging one for both buyers and sellers. But rates have cooled a bit — if that continues throughout the year, as some experts predict, then market activity should heat up in response.
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