Powerfund Portfolios Performance Review

Powerfund Portfolios Commentary

September 2013 Performance Review

October 2, 2013
Category: 
Powerfund Portfolios

September’s portfolio performance was not expected - in what was a strong market for stocks our Aggressive portfolio beat the market, and Conservative portfolio came pretty close. ...read the rest of this article»

Stock Funds1mo %
Gold Short (DZZ)9.88%
iShares MSCI BRIC Index (BKF)8.98%
PowerShares DB Crude Oil Dble Short (DTO)8.51%
Vanguard Europe Pacific ETF (VEA)7.85%
[Benchmark] Vanguard Tax-Managed Intl Adm (VTMGX)7.52%
Vanguard European ETF (VGK)7.18%
[Benchmark] Vanguard Emerging Mkts Stock Idx (VEIEX)7.15%
Satuit Capital Micro Cap (SATMX)5.93%
Artisan Global Equity (ARTHX)4.87%
Vanguard MegaCap Growth (MGK)4.85%
Wasatch Frontier Emerg Sm Count (WAFMX)4.21%
PRIMECAP Odyssey Growth (POGRX)3.57%
Wasatch Long/Short (FMLSX)3.47%
[Benchmark] Vanguard 500 Index (VFINX)3.12%
Vanguard Telecom Services ETF (VOX)2.96%
American Century Utility Income (BULIX)1.29%
Bond Funds1mo %
PIMCO Mortgage Opportunities D (PMZDX)1.11%
[Benchmark] Vanguard Total Bond Index (VBMFX)0.94%
Vanguard Long-Term Bond Index ETF (BLV)0.61%
DoubleLine Floating Rate N (DLFRX)0.05%
Vanguard Extended Duration Treasury (EDV)-0.42%

August 2013 Performance Review

September 3, 2013
Category: 
Powerfund Portfolios

Stocks and bonds sunk in August, which makes it difficult for a portfolio made up of both to perform well. Of all the things investors worry about, the high correlation of all asset classes is the most distressing, and most likely. ...read the rest of this article»

Stock Funds1mo %
[Benchmark] Vanguard Tax-Managed Intl Adm (VTMGX)-1.25%
PRIMECAP Odyssey Growth (POGRX)-1.44%
Vanguard European ETF (VGK)-1.47%
Vanguard Europe Pacific ETF (VEA)-1.60%
Vanguard 500 Index (VFINX)-2.91%
Satuit Capital Micro Cap (SATMX)-3.50%
[Benchmark] Vanguard Emerging Mkts Stock Idx (VEIEX)-3.57%
Vanguard Telecom Services ETF (VOX)-4.63%
American Century Utility Income (BULIX)-5.20%
PowerShares DB Crude Oil Dble Short (DTO)-6.17%
Artisan Global Equity (ARTHX)N/A
iShares MSCI BRIC Index (BKF)N/A
Gold Short (DZZ)N/A
Wasatch Long/Short (FMLSX)N/A
Vanguard MegaCap Growth (MGK)N/A
Wasatch Frontier Emerg Sm Count (WAFMX)N/A
Bond Funds1mo %
[Benchmark] Vanguard Total Bond Index (VBMFX)-0.53%
Vanguard Extended Duration Treasury (EDV)-1.14%
Vanguard Long-Term Bond Index ETF (BLV)-1.35%
[Benchmark] Vanguard 500 Index (VFINX)-2.91%
PIMCO BOND ETF (BOND)N/A
DoubleLine Floating Rate N (DLFRX)N/A
PIMCO Mortgage Opportunities D (PMZDX)N/A

July 2013 Performance Review

August 2, 2013
Category: 
Powerfund Portfolios

The June Swoon proved temporary as stocks rebounded to new highs in July. Even previously lackluster foreign stocks joined the party as both U.S. and foreign larger stocks rose just over 5%. Emerging market stocks weren’t in a festive mood though – they continued to underperform returning less than 1% in July. Bonds were mostly flat after sliding in recent months. ...read the rest of this article»

Stock Funds1mo %
Vanguard European ETF (VGK)9.72%
Health Care Select SPDR (XLV)7.64%
Vanguard Europe Pacific ETF (VEA)6.79%
Jensen Value J (JNVSX)6.66%
Vanguard Value ETF (VTV)5.99%
Homestead Value Fund (HOVLX)5.82%
PRIMECAP Odyssey Growth (POGRX)5.78%
Royce Financial Services Fund (RYFSX)5.66%
[Benchmark] Vanguard Tax-Managed Intl Adm (VTMGX)5.34%
[Benchmark] Vanguard 500 Index (VFINX)5.07%
Satuit Capital Micro Cap (SATMX)4.37%
Vanguard Telecom Services ETF (VOX)4.25%
American Century Utility Income (BULIX)3.61%
[Benchmark] Vanguard Emerging Mkts Stock Idx (VEIEX)0.97%
iShares MSCI Japan Index (EWJ)0.45%
PowerShares DB US Dollar Index (UUP)-2.06%
PowerShares DB Crude Oil Dble Short (DTO)-18.24%
Bond Funds1mo %
Metropolitan West Total Return (MWTRX)0.41%
[Benchmark] Vanguard Total Bond Index (VBMFX)0.20%
American Century Core Plus (ACCNX)0.20%
Doubleline Total Return Bond (DLTNX)-0.17%
American Century Government Bond (CPTNX)-0.22%
Vanguard Long-Term Bond Index ETF (BLV)-0.63%
Vanguard Extended Duration Treasury (EDV)-2.78%

June 2013 Performance Review

July 2, 2013
Category: 
Powerfund Portfolios

Almost all yield-oriented foreign investments were already sliding, and U.S. stocks finally got caught up in the downdraft. The S&P 500 fell 1.35%, although the drop in the index was better than the average returns in essentially all categories of funds except short term bonds and small cap growth, including many of our own holdings. It was a bad month to be diversified. ...read the rest of this article»

Stock Funds1mo %
iShares MSCI Japan Index (EWJ)3.51%
Vanguard Telecom Services ETF (VOX)2.11%
American Century Utility Income (BULIX)1.45%
Satuit Capital Micro Cap (SATMX)0.78%
PowerShares DB US Dollar Index (UUP)-0.22%
Jensen Value J (JNVSX)-0.65%
PRIMECAP Odyssey Growth (POGRX)-0.85%
Health Care Select SPDR (XLV)-1.04%
[Benchmark] Vanguard 500 Index (VFINX)-1.35%
Vanguard Value ETF (VTV)-1.60%
Royce Financial Services Fund (RYFSX)-1.81%
Homestead Value Fund (HOVLX)-2.18%
[Benchmark] Vanguard Tax-Managed Intl Adm (VTMGX)-2.88%
Vanguard Europe Pacific ETF (VEA)-4.28%
Scout International Discovery (UMBDX)-5.41%
[Benchmark] Vanguard Emerging Mkts Stock Idx (VEIEX)-6.14%
Vanguard European ETF (VGK)-6.30%
PowerShares DB Crude Oil Dble Short (DTO)-9.69%
Bond Funds1mo %
American Century Government Bond (CPTNX)-1.35%
[Benchmark] Vanguard Total Bond Index (VBMFX)-1.65%
Doubleline Total Return Bond (DLTNX)-1.77%
American Century Core Plus (ACCNX)-2.14%
Metropolitan West Total Return (MWTRX)-2.23%
Vanguard Long-Term Bond Index ETF (BLV)-3.99%
Vanguard Extended Duration Treasury (EDV)-5.41%

May 2013 Performance Review

June 4, 2013
Category: 
Powerfund Portfolios

Interest rates jumped, creating fears the end of falling rates is finally here. This took the entire bond market down almost 2% with a bit more damage to longer-term bonds (notably government bonds) which dropped almost 7%. High yield bonds, which are sensitive to interest rates but also to rising stocks and an improving economy, were down around a half percent.  ...read the rest of this article»

Stock Funds1mo %
Satuit Capital Micro Cap (SATMX)6.41%
Homestead Value Fund (HOVLX)4.19%
Royce Financial Services Fund (RYFSX)3.63%
PowerShares DB Crude Oil Dble Short (DTO)3.23%
Jensen Value J (JNVSX)2.81%
Vanguard Value ETF (VTV)2.58%
PRIMECAP Odyssey Growth (POGRX)2.47%
[Benchmark] Vanguard 500 Index (VFINX)2.33%
PowerShares DB US Dollar Index (UUP)1.85%
Health Care Select SPDR (XLV)1.65%
Vanguard European ETF (VGK)0.01%
Scout International Discovery (UMBDX)-0.25%
Vanguard Europe Pacific ETF (VEA)-2.97%
[Benchmark] Vanguard Tax-Managed Intl Adm (VTMGX)-3.00%
Vanguard Telecom Services ETF (VOX)-3.72%
[Benchmark] Vanguard Emerging Mkts Stock Idx (VEIEX)-3.73%
American Century Utility Income (BULIX)-5.57%
iShares MSCI Japan Index (EWJ)-7.35%
Bond Funds1mo %
Doubleline Total Return Bond (DLTNX)-0.96%
Metropolitan West Total Return (MWTRX)-1.23%
American Century Government Bond (CPTNX)-1.67%
[Benchmark] Vanguard Total Bond Index (VBMFX)-1.71%
American Century Core Plus (ACCNX)-1.74%
Vanguard Long-Term Bond Index ETF (BLV)-5.74%
Vanguard Extended Duration Treasury (EDV)-9.77%

April 2013 Performance Review

May 2, 2013
Category: 
Powerfund Portfolios

How did we beat BOTH the stock and bond indexes in April? Many of the out-of-favor areas we hold rapidly became favorable - notably Japan and telecom (both up over 8%).  Utilities were up almost 6% AND interest rates were down again, sending our longer-term bond fund up. Best of all, commodities tanked which boosted our oil short – usually up only when stocks are down. ...read the rest of this article»

Stock Funds1mo %
PowerShares DB Crude Oil Dble Short (DTO)8.64%
iShares MSCI Japan Index (EWJ)8.33%
Vanguard Telecom Services ETF (VOX)8.25%
American Century Utility Income (BULIX)5.96%
Vanguard Europe Pacific ETF (VEA)5.69%
[Benchmark] Vanguard Tax-Managed Intl Adm (VTMGX)5.21%
Vanguard European ETF (VGK)5.05%
Scout International Discovery (UMBDX)3.66%
Health Care Select SPDR (XLV)2.87%
Vanguard Value ETF (VTV)2.82%
PRIMECAP Odyssey Growth (POGRX)2.74%
Royce Financial Services Fund (RYFSX)2.31%
Jensen Value J (JNVSX)2.11%
[Benchmark] Vanguard 500 Index (VFINX)1.91%
[Benchmark] Vanguard Emerging Mkts Stock Idx (VEIEX)1.32%
Homestead Value Fund (HOVLX)-0.20%
PowerShares DB US Dollar Index (UUP)-1.77%
Satuit Capital Micro Cap (SATMX)-2.40%
Bond Funds1mo %
Vanguard Extended Duration Treasury (EDV)8.07%
Vanguard Long-Term Bond Index ETF (BLV)3.92%
Metropolitan West Total Return (MWTRX)1.16%
Doubleline Total Return Bond (DLTNX)1.08%
American Century Core Plus (ACCNX)1.00%
[Benchmark] Vanguard Total Bond Index (VBMFX)0.91%
American Century Government Bond (CPTNX)0.60%

March 2013 Performance Review

April 2, 2013
Category: 
Powerfund Portfolios

Wow. The S&P 500 and the Dow both reached record highs last month, each breaking previous marks set in 2007. Don’t hold your breath for a new NASDAQ record though – that’s a solid 10-20 years off (and maybe even longer than that if adjusting for inflation).  ...read the rest of this article»

Stock Funds1mo %
PRIMECAP Odyssey Growth (POGRX)6.82%
Jensen Value J (JNVSX)6.39%
Health Care Select SPDR (XLV)6.34%
iShares MSCI Japan Index (EWJ)5.78%
Homestead Value Fund (HOVLX)5.11%
American Century Utility Income (BULIX)5.04%
Satuit Capital Micro Cap (SATMX)4.54%
[Benchmark] Vanguard 500 Index (VFINX)3.74%
Vanguard Telecom ETF (VOX)3.46%
Vanguard Value ETF (VTV)3.42%
Royce Financial Services Fund (RYFSX)3.04%
[Benchmark] Vanguard Tax-Managed Intl Adm (VTMGX)1.48%
Scout International Discovery (UMBDX)1.30%
PowerShares DB US Dollar Index (UUP)1.03%
Vanguard Europe Pacific ETF (VEA)0.75%
Vanguard European ETF (VGK)-0.14%
[Benchmark] Vanguard Emerging Mkts Stock Idx (VEIEX)-1.57%
PowerShares DB Crude Oil Dble Short (DTO)-10.04%
Bond Funds1mo %
Metropolitan West Total Return (MWTRX)0.24%
Doubleline Total Return Bond (DLTNX)0.18%
American Century Core Plus (ACCNX)0.17%
American Century Government Bond (CPTNX)0.14%
Vanguard Long-Term Bond Index ETF (BLV)-0.56%
[Benchmark] Vanguard Total Bond Index (VBMFX)-0.71%
Vanguard Extended Duration Treasury (EDV)-1.40%

February 2013 Performance Review

March 3, 2013
Category: 
Powerfund Portfolios

What we’re really seeing here is the steady erosion in returns of anything other than bonds. Among the worst areas over the last five years – sporting serious negative returns of between 5 and 10% per year on average (as opposed to positive annualized returns of the same magnitude in U.S. stock funds) - are gold mining-oriented and commodities funds. Gold the metal is still higher than 5 years ago, though the yellow metal is finally showing some erosion in price and popularity.  ...read the rest of this article»

Stock Funds1mo %
PowerShares DB Crude Oil Dble Short (DTO)12.49%
PowerShares DB US Dollar Index (UUP)3.47%
iShares MSCI Japan Index (EWJ)2.41%
American Century Utility Income (BULIX)2.29%
Royce Financial Services Fund (RYFSX)2.16%
Homestead Value Fund (HOVLX)2.10%
[Benchmark] Vanguard 500 Index (VFINX)1.34%
Vanguard Value ETF (VTV)1.31%
Health Care Select SPDR (XLV)1.26%
PRIMECAP Odyssey Growth (POGRX)0.91%
Jensen Value J (JNVSX)0.63%
Scout International Discovery (UMBDX)0.10%
Satuit Capital Micro Cap (SATMX)-0.27%
Vanguard Telecom Services ETF (VOX)-0.78%
Vanguard Europe Pacific ETF (VEA)-1.15%
[Benchmark] Vanguard Tax-Managed Intl Adm (VTMGX)-1.36%
[Benchmark] Vanguard Emerging Mkts Stock Idx (VEIEX)-1.74%
Vanguard European ETF (VGK)-3.40%
Bond Funds1mo %
Vanguard Long-Term Bond Index ETF (BLV)1.79%
Vanguard Extended Duration Treasury (EDV)1.55%
Doubleline Total Return Bond (DLTNX)0.56%
[Benchmark] Vanguard Total Bond Index (VBMFX)0.54%
Metropolitan West Total Return (MWTRX)0.51%
American Century Core Plus (ACCNX)0.43%
American Century Government Bond (CPTNX)0.40%

January 2013 Performance Review

February 4, 2013
Category: 
Powerfund Portfolios

All this upside is starting to attract attention. Investors are warming to stock funds again. This tends to happen shortly before market dips, and if bonds continue to slide as stocks rise we would expect to cut back on equities and shift a little more to debt, but currently stocks are still more appealing valuation-wise than bonds are. ...read the rest of this article»

Stock Funds1mo %
Homestead Value Fund (HOVLX)8.59%
Royce Financial Services Fund (RYFSX)8.49%
Health Care Select SPDR (XLV)8.17%
Jensen Value J (JNVSX)7.79%
PRIMECAP Odyssey Growth (POGRX)7.32%
Vanguard Value ETF (VTV)7.23%
Satuit Capital Micro Cap (SATMX)6.36%
[Benchmark] Vanguard 500 Index (VFINX)5.18%
[Benchmark] Vanguard Tax-Managed Intl Adm (VTMGX)4.44%
American Century Utility Income (BULIX)4.39%
Vanguard European ETF (VGK)4.28%
Vanguard Europe Pacific ETF (VEA)3.83%
Vanguard Telecom Services ETF (VOX)3.17%
Vanguard Telecom Serv ETF (VOX)3.17%
iShares MSCI Japan Index (EWJ)2.26%
Scout International Discovery (UMBDX)1.63%
[Benchmark] Vanguard Emerging Mkts Stock Idx (VEIEX)0.61%
PowerShares DB US Dollar Index (UUP)-0.87%
PowerShares DB Crude Oil Dble Short (DTO)-11.66%
Bond Funds1mo %
Doubleline Total Return Bond (DLTNX)0.48%
Metropolitan West Total Return (MWTRX)0.19%
American Century Core Plus (ACCNX)-0.62%
American Century Government Bond (CPTNX)-0.63%
[Benchmark] Vanguard Total Bond Index (VBMFX)-0.71%
Vanguard Long-Term Bond Index ETF (BLV)-1.12%
Vanguard Extended Duration Treasury (EDV)-5.03%

December 2012 Performance Review

January 3, 2013
Category: 
Powerfund Portfolios

Investing in markets that seem poised to plummet can be more rewarding than investing when things seem safe. Sadly many investors bailed out of stock funds in recent years. Good news on the bad news front: most every serious financial problem facing America was just kicked down the road. ...read the rest of this article»

Stock Funds1mo %
[Benchmark] Vanguard Emerging Markets Stock Index (VEIEX)5.84%
iShares MSCI Japan Index (EWJ)5.65%
Vanguard European ETF (VGK)4.32%
Vanguard Europe Pacific ETF (VEA)4.25%
[Benchmark] Vanguard International Index (VTMGX)3.85%
Satuit Capital Micro Cap (SATMX)3.74%
Royce Financial Services Fund (RYFSX)2.88%
Scout International Discovery (UMBDX)2.86%
Vanguard Telecom Services ETF (VOX)1.78%
Jensen Value J (JNVSX)1.67%
PRIMECAP Odyssey Growth (POGRX)1.30%
Vanguard Value ETF (VTV)1.27%
Homestead Value Fund (HOVLX)0.92%
[Benchmark] Vanguard 500 Index (VFINX)0.90%
American Century Utility Income (BULIX)-0.25%
PowerShares DB US Dollar Index (UUP)-0.50%
Health Care Select SPDR (XLV)-0.89%
PowerShares DB Crude Oil Dble Short (DTO)-5.14%
Bond Funds1mo %
Metropolitan West Total Return (MWTRX)0.35%
Doubleline Total Return Bond (DLTNX)0.25%
American Century Core Plus (ACCNX)0.02%
[Benchmark] Vanguard Total Bond Index (VBMFX)-0.21%
American Century Government Bond (CPTNX)-0.29%
Vanguard Long-Term Bond Index ETF (BLV)-2.81%
Vanguard Extended Duration Treasury (EDV)-3.74%
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