Energy Funds Lose Ground Along With Oil

This week, we are taking a look at the best- and worst-performing energy mutual funds. Excluding the funds betting against the sector, the average energy fund we track lost 1.84% for the five trading days ending Thursday, May 1.

This week, the Federal Reserve cut its target rate to 2%. It bolstered the move in the accompanying policy statement, which says that the cutting actions to date have been "substantial" and no more reductions should be necessary.

But behind the scenes, the Fed is continuing to inject banking liquidity by expanding its cash-loan auctions and widening the range of asset-backed securities it will accept as Treasury loan collateral.

Investors clinging to the idea that the U.S. government might stop undermining the U.S. dollar sent the greenback to a five-week high against the major world currencies. Crude oil corrected from its recent high of around $120 a barrel, souring investment in energy stocks and funds. ...