Capital Appreciation, bumped out of the first quintile last month, has clawed its way back. Here are the YTD standings as of March 31, 2008.

first quintile
Oakmark Equity & Income I (OAKBX): +.97%
Janus Balanced (JABAX): -.90%
Ivy Asset Strategy Y (WASYX): -1.76%
State Farm Balanced (STFBX): -2.55%
John Hancock Balanced A (SVBAX): -3.28%
Nuveen Balanced Stock & Bond R (NNSRX): -3.44%
AARP Moderate Report (AAMDX): -3.54%
T. Rowe Price Capital Appreciation (PRWCX): -3.87%
Vanguard Wellington (VWELX): -3.92%
Value Line Income & Growth Fund (VALIX): -3.97%
Mairs & Power Balanced (MAPOX): -4.10%

second quintile
GAMCO Westwood Income AAA (WESRX): -4.26%
DFA Global 60/40 I (DGSIX): -4.68%
Vanguard Balanced Index (VBINX): -4.86%
Buffalo Balanced (BUFBX): -5.18%
Vanguard Target Retirement 2015 (VTXVX): -5.21%
**Vanguard 60/40: -5.38%
Manning & Napier Extended Term (MNBAX): -5.44%
GE Moderate Allocation Fund (GMALX): -5.60%
T. Rowe Price Retirement 2010 Fund (TRRAX): -5.61%
T. Rowe Price Balanced (RPBAX): -5.87%
Vanguard STAR (VGSTX): -6.23%

third quintile
First Eagle Global A (SGENX): -6.50%*
AARP Aggressive (AAGSX): -6.52%
Elfun Diversified (ELDFX): -6.72%
Pax World Balanced (PAXWX): -6.84%
TIAA-CREF Inst Managed Alloc II Retail (TIMRX): -7.03%
Waddell & Reed Adv Asset Strategy A (UNASX): -7.23%*
Fidelity Freedom 2020 (FFFDX): -7.27%
Fidelity Balanced (FBALX): -7.29%
Fidelity Puritan (FPURX): -7.51%
Russell LifePoints Growth Strategy S (RALSX): -7.96%
Dodge & Cox Balanced (DODBX): -8.04%

fourth quintile
American Funds Capital Inc Bldr C (CIBCX): -9.24%*
AFBA Five Star Balanced A (AFSAX): -9.48%*
MFS Total Return B (MTRBX): -9.80%*
Loomis Sayles Global Markets Y (LSWWX): -10.17%
Transamerica Premier Balanced Inv (TBAIX): -10.28%
Calvert Social Investment Balanced A (CSIFX): -10.36%*
Dreyfus Premier Balanced Opportunity A (DBOAX): -10.70%*
Morgan Stanley Strategist B (SRTBX): -11.57%*
Delaware Balanced A (DELFX): -11.85%*
Morgan Stanley Strategist Fund A (SRTAX): -11.87%*
Putnam Asset Allocation Balanced A (PABAX): -12.31%*

fifth quintile
American Funds American Balanced A (ABALX): -12.59%*
Lord Abbett Balanced Strategy A (LABFX): -12.63%*
Evergreen Asset Allocation A (EAAFX): -12.95%*
Van Kampen Equity and Income A (ACEIX): -13.01%*
Calamos Growth & Income A (CVTRX): -13.53%*
American Funds Capital Inc Bldr A (CAIBX): -13.56%*
Eaton Vance Balanced A (EVIFX): -13.58%*
Franklin Templeton Growth Target A (FGTIX): -13.62%*
Legg Mason Partners CapInc A (SOPAX): -14.28%*
Wells Fargo Advantage Growth Balanced A (WFGBX): -14.35%*
Oppenheimer Quest Balanced B (QGRBX): -14.56%*

disqualified horses
FPA Crescent (FPACX): -1.19%
Leuthold Asset Allocation (LAALX): -1.58%
Leuthold Core Investment (LCORX): -2.11%
Utopia Core (UTCRX): -2.50%
Greenspring (GRSPX): -2.76%
Fairholme (FAIRX): -3.55%
Permanent Portfolio (PRPFX): 3.83%
Vanguard Tax Managed Balanced Fund (VTMFX): -4.30%
Auxier Focus (AUXFX): -6.82%
Bruce (BRUFX): -6.91%
BlackRock Global Allocation A (MDLOX): -6.93%*
BlackRock Asset Allocation Inv A (PCBAX): -10.57%*
Marsico Flexible (MFCFX): -10.64%
American Century Equity Income A (TWEAX): -11.68%*
Fidelity Magellan (FMAGX): -12.37%

(The disqualifed horses have failed to meet criterion of large cap with between 50-75% equities—they’re included here by request.)

*load adjusted return
**portfolio of three Vanguard index funds:
    45% Total Stock Market—0.19—(VTSMX)
    15% Total International—0.32—(VGTSX)
    40% Total Bond—0.20—(VBMFX)

Looking at T. Rowe Price’s stable of equity funds, the YTD winner so far is Real Estate (TRREX) at +2.50. The biggest loser is New Asia (PRASX) at -22.80. What goes around comes around.

And finally, let’s recall the truism that there are three kinds of lies: lies, damned lies, and statistics. Consider T. Rowe Price Capital Appreciation’s oft-touted 18 year record of positive returns. As of the end of March 2008, the one year return of PRWCX was -0.37%. So PRWCX’s calendar year winning streak is just a lucky quirk—it has lost money in a twelve month period, but not from January 1 to December 31. So the record marches on, sort of.

Thank you so much for doing this!!  I couldn't wait to check and see if you had posted the results yet. 

 

I appreciate your time and energy in compiling this and find it very interesting to follow.  I had recently been thinking re: Vanguard Tax-Managed Balanced and was going to ask you to consider including it, and see that it is already there!  And I"m also glad you have the index option that you are tracking also.  Will be very interesting to see.

 

Thanks again for putting together one of my favorite posts each month.

Kelly

 

Nice work Regal!

Good to see OAKBX still leading the pack.

Thank you!

migues

Balanced funds have been my main investment vehicle for the past 25 years. Thank you very much for putting together this list.

BigD53 

 

Regal 56,

Thank you for putting together this great work. Very interesting information. Now I can track all my favorite balanced funds in one place.

Lucas 

Well, all nice and dandy, but ..

1. I reduced My PRWCX as soon as I heard Mgmnt. Changes and put it on Hold last yr..

2. Watching it's % allocation jump above 60/40 rasied even more red Flags

3. It's Tax effecientcy dropped down to lowest level ( 1 our of 5 ) ..

4. I Moved that Money into My other BalancedFunds ( FPACX,LAALX & OAKBX )

The vote is still out on PRWCX with it's future in my Port...

IMO? Using AMF's in a Portfolio requires one to expect them not to last forever.. and having a  couple of Back up funds is mandatory..and keeping a close eye/watch on their  changes is also mandatory.. they are Not Buy and Hold investments..

I learned that owing the likes of Magellon yrs ago..and most recently LCORX..

 

Just a heads up. I recently moved, and my internet access won't begin until this weekend. So my monthly update for the PRWCX Horse Race won't be posted until the weekend. Sorry for the delay.

Regal,

We don't mind waiting.  Just appreciate you spending your time doing this each month.

It is an extremely interesting comparison, especially during these difficult times.

Oh, wish you the best in your recent move.  I don't know when you started, but that's always alot of work.  Hope you have the time to post it this weekend!  :-)

 
Doug