When we aggregate all of the July total return data for each equity fund objective, two sector fund groups averaged the highest one-month performances: Health and biotechnology ranks first, outperforming all others with an average return of 6.71%; financial-services funds followed closely behind, averaging 4.52%.
Only two other fund objectives joined them with positive return averages. The real estate sector, closely tied to the fortunes of the financial services sector, added 1.09%. Funds focusing on small capitalization stocks just barely eked out a positive average return of 0.49% for the month.
Topping the list is the ProFunds Biotechnology UltraSector ProFund(BIPIX Quote), soaring 28.35% in July alone. The fund is leveraged 150% to members of the Dow Jones U.S. Biotechnology Index such as Gilead Sciences(GILD Quote), Amgen(AMGN Quote) and Genentech(DNA Quote).
The financial sector bottomed in July. Funds like the ProFunds Banks UltraSector ProFund(BKPIX Quote) recovered 26.19% in July but are still way down for the year. ...
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