While the major market averages languished in November, precious metals soared. The trend is evident in the list of the month's best-performing open-end stock mutual funds.
Nine of the 10 top-performing open-end stock mutual funds -- as calculated by TheStreet.com Ratings from Oct. 31 to Nov. 28 -- focused on precious metals investments.
In November, the spot price of silver rose 4.6% to $10.30 an ounce, platinum climbed 7.1% to $881.50, and gold gained 12.9% to $818.05. And as the Philadelphia Gold & Silver Index climbed 25.58% that month, the 150% leveraged
ProFunds Precious Metals UltraSector ProFund
made the most of the bounce in prices.
Index member standouts in the period were
, up 36.20%;
, up 30.49%; and
; up 44.65%.
However, one non-metals fund topped the other nine metals funds. The
Monteagle Informed Investor Growth Fund
is a new fund with $6.96 billion in assets. The funds's 36.73% rise helped it to regain back much of its losses since its April 4 inception.
Four of Monteagle's five largest holdings are inverse, or short, exchange-traded funds that are 200% leveraged. They include
ProShares UltraShort Oil & Gas
ProShares UltraShort Russell2000
ProShares UltraShort QQQ
ProShares UltraShort S&P500
On the bullish side of Monteagle's equation is a 40.6% allocation to biotechnology stocks, led by
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Kevin Baker became the senior financial analyst for TSC Ratings upon the August 2006 acquisition of Weiss Ratings by TheStreet.com, covering mutual funds. He joined the Weiss Group in 1997 as a banking and brokerage analyst. In 1999, he created the Weiss Group's first ratings to gauge the level of risk in U.S. equities. Baker received a B.S. degree in management from Rensselaer Polytechnic Institute and an M.B.A. with a finance specialization from Nova Southeastern University.