Energy and commodity funds clearly outperformed most other categories in the second quarter, yielding impressive returns from 24% to 45% for the three months ended June 30.

The best of these funds was the

BlackRock Global Resources Fund

(SSGRX) - Get Report

, returning an astonishing 45.5% for the quarter and 12.52% for the month of June, a coup for managers Daniel Rice and Denis Walsh.

The top holdings in this fund include

Consol Energy

(CNX) - Get Report

,

Massey Energy

( MEE),

Arch Coal

(ACI)

,

Plains Exploration & Production

(PXP)

and

Newfield Exploration

(NFX)

.

The top fund on our list was not from the energy sector, but from telecommunications. The

ProFunds Mobile Telecommunications UltraSector ProFund

(WCPIX) - Get Report

is a very concentrated play that invests 30% of its assets in just one company,

Sprint Nextel Corporation

(S) - Get Report

.

There's also a 17% allocation to

NII Holdings Incorporated

( NII) and an 8% allocation to

Metro PCS Communication

(PCS)

.

NAME

TICKER

TSC Grade

Category

3 Month Return

1 Month Return

ProFunds-Mble Telcm UltraSector Inv

WCPIX

B+

Growth - Domestic

50.17

-5.26

BlackRock Global Resources Inv A

SSGRX

B

Sector - Energy/Natural Res

45.48

12.52

Fidelity Select Energy Svcs

FSESX

D+

Sector - Energy/Natural Res

31.35

7.40

Oppenheimer Comm Str Tot Retn A

QRAAX

C+

Sector - Energy/Natural Res

30.80

8.55

Rydex Series-Energy Services A

RYESX

U

Sector - Energy/Natural Res

30.68

7.29

BlackRock All Cap Glb Resrces Inv A

BACAX

C-

Sector - Energy/Natural Res

28.89

7.37

Goldman Sachs Commodity Stratg A

GSCAX

B+

Growth & Income

28.48

9.20

Rydex Ser-Commodities Strgy A

RYMEX

C+

Sector - Other

27.65

9.47

Rydex Series-Energy A

RYENX

U

Sector - Energy/Natural Res

27.49

4.85

Dreyfus Premier Natural Resources A

DNLAX

U

Sector - Energy/Natural Res

27.43

5.58

Columbia Energy & Nat Res A

EENAX

U

Sector - Energy/Natural Res

27.27

5.46

AIM Energy A

IENAX

C-

Sector - Energy/Natural Res

27.02

3.37

CGM Focus Fund

CGMFX

D+

Aggressive Growth

27.01

5.78

ProFunds-Oil & Gas UltraSector Inv

ENPIX

B+

Sector - Energy/Natural Res

26.91

3.51

Direxion Commodity Bull 2X Fd

DXCLX

U

Growth - Domestic

26.37

-1.45

Guinness Atkinson Glob Energy Fund

GAGEX

C

Sector - Energy/Natural Res

25.38

0.72

Aberdeen Natural Res A

GGNAX

U

Sector - Energy/Natural Res

24.89

3.92

ICON Energy

ICENX

D-

Sector - Energy/Natural Res

24.23

3.40

US Global Inv Global Resources

PSPFX

A-

Sector - Energy/Natural Res

24.06

4.16

Fidelity Select Natural Resources

FNARX

U

Sector - Energy/Natural Res

24.01

4.19

Sam Patel, CFA, is the manager of mutual fund research for the TheStreet.com Ratings.

In keeping with TSC's Investment Policy, employees of TheStreet.com Ratings with access to pre-publication ratings data must pre-clear any potential trade through the legal department, and are prohibited from trading any security that is the subject of an unpublished rating revision until the second business day after the rating is published.

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