It's been a tough year for tech funds, except those that have ridden the new New Tech stocks.
Just a few years ago, it was so simple. Most tech funds bet big on companies that were in or around the PC biz like Microsoft (MSFT), Intel (INTC) and Dell (DELL) -- three of tech's vaunted four horsemen, with the fourth being networking titan Cisco Systems (CSCO).| Tech Dynasty Despite recent weakness, tech funds are the superstars of the past 10 years | ||
| Avg. Tech Fund | S&P 500 | |
| YTD Return | -11.7% | -7.1% |
| 1-Year Return | 39.8 | 5.2 |
| 5-Year Return | 29.2 | 20.8 |
| 10-Year Return | 31.3 | 18.9 |
| Source: Morningstar. Annualized performance figures through Oct. 26. | ||
| Leading Tech Funds These funds have crushed the broader market in recent years | ||
| Fund | 1-Year Return | 3-Year Annualized |
| (DRGTX)Dresdner RCM Global Technology | 89.1% | 71.3% |
| (TVFQX)Firsthand Technology Value | 76.4 | 52.4 |
| (PBTCX)PBHG Technology and Communications | 75.2 | 52.5 |
| (PIVAX)Pimco Innovation | 74.3 | 60.1 |
| (BINVX)Berger Information Technology | 72.4 | 58.8 |
| (FTCHX)Invesco Technology | 67.5 | 44.9 |
| (ICTEX)Icon Information Technology | 62.9 | 42.4 |
| (KTCAX)Kemper Technology | 53.7 | 41.9 |
| (IFODX)MSDW Information | 51.8 | 56 |
| (OITAX)Orbitex Info-Tech | 49.3 | 55.9 |
| Avg. Tech fund | 39.8 | 41.1 |
| S&P 500 | 5.2 | 15 |
| Source: Morningstar. Annualized performance figures through Oct. 26. | ||
| Under the Hood The stocks with the biggest weighting in the combined portfolios of the 10 above funds | ||
| Stock | Weighting in Top- 10 Funds | Number of Top 10 Funds Owning the Stock |
| Oracle(ORCL) | 2% | 7 |
| JDS Uniphase(JDSU) | 1.9 | 8 |
| Corning(GLW) | 1.8 | 7 |
| PMC Sierra(PMCS) | 1.8 | 9 |
| Cisco Systems(CSCO) | 1.7 | 6 |
| Ciena(CIEN) | 1.7 | 8 |
| Sun Microsystems(SUNW) | 1.6 | 7 |
| Applied Micro Circuits(AMCC) | 1.5 | 6 |
| Juniper Networks(JNPR) | 1.5 | 8 |
| Network Appliance(NTAP) | 1.4 | 7 |
| Source: Morningstar. Holdings as of most recent portfolio report. | ||
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