Morningstar's Dan Culloton sizes up the fund firm's top and bottom performers year-to-date, discusses CIO Gus Sauter's impending retirement, and more.
Although some Vanguard funds underperformed their peers during the market rally, the firm had more portfolios in the top quartile of their categories than in the bottom quartile.
Greater scale brings greater efficiencies and lower costs, but growth also brings challenges, both operational and cultural, says Morningstar associate director of fund analysis Dan Culloton.
Income-hungry investors sought out niche fixed-income funds like bank-loans and non-traditional bonds in the first quarter, while the so-called great rotation into stocks is not yet confirmed.
Despite market fluctuations, patient investors could have realized over 6% compounded annual returns over the last decade with a disciplined buy-hold-rebalance strategy, says Portfolio Solutions' Rick Ferri.
Investors should keep tabs on a few key indicators as Vanguard switches the benchmarks for 22 of its index funds.
May flows data show investors are putting money to work in nontraditional fixed-income holdings, as well as emerging-markets equities, for perceived better returns.
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