Net Losses: However You Define Them, Internet Funds Are Ailing

If the Internet is a revolution, the army of Net funds have been the casualties.

Of the more than 20 Internet funds launched before Jan. 1, none are above water for the year, according to Morningstar. While the Net-fund pack is suffering en masse, its returns range widely from a slim 0.6% loss for (SNETX Quote)Strong Internet to (JAMFX Quote)Jacob Internet fund's jaw-dropping 51% freefall. The reason for the disparity: Varying definitions of a "Net stock."

The Best of Net Funds, The Worst of Net Funds All Net funds with a YTD return are under water, but those focusing on bigger-cap fare have done the best.
Fund	YTD	Median Market Cap ($ millions)
(SNETX Quote)Strong Internet	-0.6%	$36,812
(ETECX Quote)E*Trade E-Commerce Index	-1.6	$86,355
(GITAX Quote)Goldman Sachs Internet Tollkeeper	-7.1	$40,084
(EIFAX Quote)Enterprise Internet	-10.4	$31,098
(GFINX Quote)Guinness Flight Internet Index	-12	-12
(JAMFX Quote)Jacob Internet	-51	$817
(PNETX Quote)Potomac Internet Plus	-44.3	N/A
Westcott Nothing But Net	-40.4	N/A
(WWWEX Quote)Kinetics Internet Emerging Growth	-37.2	$749
StockJungle.com Pure Play Internet	-33.5	$10,365
TheStreet.com Internet Index	-33.4	N/A
Avg. Technology Fund	2.4	$31,836
Performance through Sept. 18. Portfolio information as of most recent public portfolio. Source: Morningstar.

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