Biggest Equity-Fund Ratings Changes

Betting on a bear market has paid off, with significantly higher grades from TheStreet.com Ratings for some equity mutual funds.

As the stock market continued to shrivel during the year's second quarter, four of the five funds on the "most improved" list of the accompanying table earned impressive grade elevations from TheStreet.com Ratings by moving inversely to the general list.

The table lists the five equity mutual funds with the largest improvements and the quintet with the largest downgrades for the quarter ended June 30.

On the "most improved" section of the table, the Leuthold Grizzly Fund(GRZZX Quote), the PIMCO StocksPLUS TR Short Strategy Fund(PSSAX Quote), The ProFunds-Bear Fund(BRPIX Quote) and the Rydex Inverse S&P 500 Strategy Fund(RYARX Quote) -- each of which moves opposite the direction of the general stock market -- all ended the first half of the year with double-digit gains. For the latest 12-months, the four funds have achieved even bigger totals. ...