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Fund Times

Meet the Fund That Has Topped the S&P 500 Each Year Since 1999

Plus, Vanguard adds manager, preps new fund launch, Oppenheimer settles with Illinois, more.

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The end of a year is always accompanied by "best of" and "worst of" lists. In that spirit, especially at the closing of a decade bookended by wild market behavior, we thought it would be interesting to compile a list of domestic-equity funds that have topped the S&P 500 Index each calendar year since 1999. We excluded funds that weren't also on track to beat the index this year.

This exercise started, of course, with Bill Miller of  Legg Mason Capital Management Value (LMVTX). Just four years ago the fund beat the S&P 500 for an unprecedented 15 calendar years in a row. In the first part of the decade, every December buzzed with talk about if he would do it again. Miller's back ahead of the index this year with a nearly 41% return through Dec. 22. The streak is history, though, and few people even bring it up anymore. There are other funds, however, that have pretty good streaks going.

Courtney Goethals Dobrow does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.