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Who Got Burned in the Sell-Off

Six funds that got singed in 2018.

The article was published in the April 2018 issue of Morningstar FundInvestor. Download a complimentary copy of FundInvestor by visiting the website.

To judge a manager’s skill, you want to use as long a time period as possible. But that doesn’t mean short periods have no useful information. They tell you about a fund’s exposures and provide some glimpses as to the risk levels they are running.

Given how long it’s been since we’ve had a true bear market, I was curious about the maximum weekly drawdown for funds in the Morningstar 500 so far this year. We’ve had a few mini sell-offs already this year.

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About the Author

Russel Kinnel

Director
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Russel Kinnel is director of ratings, manager research, for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. He heads the North American Medalist Rating Committee, which vets the Morningstar Medalist Rating™ for funds. He is the editor of Morningstar FundInvestor, a monthly newsletter, and has published a number of prominent studies of the fund industry covering subjects such as manager investment, expenses, and investor returns.

Since joining Morningstar in 1994, Kinnel has analyzed virtually every type of fund and has covered the most prominent fund families, including Fidelity, T. Rowe Price, and Vanguard. He has led studies on the predictive power of fund data and helped develop the Morningstar Rating for funds and the Morningstar Style Box methodology. He was co-author of the company's first book, Morningstar Guide to Mutual Funds: 5-Star Strategies for Success (Wiley, 2003), and was author of the book Fund Spy: Morningstar's Inside Secrets to Selecting Mutual Funds That Outperform, published in 2009.

Kinnel holds a bachelor's degree in economics and journalism from the University of Wisconsin.

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