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The Best Mutual Funds for Growth & Income

Discover the top mutual funds for growth and income, understand the stock market, economy, and different fund segments, and learn how to select the best funds for your portfolio. Explore opportunities in real estate, banking, utilities, energy, preferred stocks, and more.

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The Best Mutual Funds for Growth & Income

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  1. The Best Mutual Funds for Growth & Income

  2. Lay of the Land • Stocks • Economy • General • Segments • Risks? • Bonds • Inflation • Central Banks • Differentiation

  3. Stocks Down, Funds Dominate • Decline in # of Stocks • 1996: 7,400 • 2017: 3,616 • # of Mutual Funds • 9,356 • # of ETFs (Including ETFs-of-ETFs) • 5,024 • # of Closed-End Funds (CEFs) • 530

  4. Open, Closed or ETF • Open-End Funds • Net Asset Value (NAV) • Ease of Access • Diluted in Bull Market, Sold Out in Bear • Closed-End Funds • Set Capital • Focus • Premium/Discount • ETFs & Exchange-Traded Notes (ETN) • Targeted Opportunity • Internal Risks

  5. Mutual Fund Selection • Fund Criteria for Portfolio • Identify Relevant Index • Identify Leaders in Performance (Outperformance vs. Benchmark Indexes) • Examine Times of Trouble • Examine Consistency of Positive Performance • Fee Structure Comparison (Apples to Apples)

  6. Look Under the Hood • Portfolio Characteristics • Reported Holdings and Trades • Risk Criteria of Holdings • My Fundamental Assessment • Stocks (How Leveraged to Specific Shares) • Bonds (Dig into Individual Holdings and Sub-Funds) • Leverage and Liquidity

  7. Buy, Sell & Own • Brokerages/Trust Companies • Open-End, Closed-End, ETF/ETN • Direct • Fund Families • Boutique • IRAs, SEP, 401k/403b • Individual • Sponsored

  8. Strategies & Opportunities

  9. Real Estate Investment Trusts (REITs) • Cohen & Steers Quality Income Realty (RQI) • Yield: 8.09%; 5-year return: 70.42%; Avg.: 11.24% • Outperforms VGSIX & VNQ; Discount: 7%

  10. Banks • SPDR S&P Regional Banking ETF (KRE)

  11. Utility Players • Vanguard Utilities ETF (VPU)

  12. Petrol Pumping • Energy Select SPDR ETF (XLE)

  13. The PIPEs are Calling • Goldman Sachs MLP Income Opportunities (GMZ) • Discount: 1.3%; Yield: 9.10%

  14. Corporates Cashing In • Osterweis Strategic Income Fund (OSTIX) • Yield: 4.49%; 10-year return: 81.54%, Avg.: 6.14%

  15. Mighty Munis Muscling Up • Blackrock Muni Income Trust II (BLE); 5.38% • Nuveen AMT-Free Muni Income (NVG); 5.39% • Nuveen Credit Income Fund (NZF); 5.52%

  16. The Preferred Way to Invest • iShares US Preferred Stock ETF (PFF); 6.19% • Flaherty & Crumrine Preferred (PFO); 7.44% Orange: Flaherty, White: iShares

  17. Money Market Alternatives • Vanguard GNMA Fund (VFIIX), current yield 2.93% • Worst year in last 10: -2.22% (2013). Last 12 months: -0.69% • Vanguard Federal Money Mkt (VMFXX), current yield 1.80% • DoubleLine Total Return (DLTNX), current yield 3.43% • Worst year since inception: -0.23% (2013) • Weitz Short Duration Income (WSHNX), current yield 1.98% • Worst year since inception: -0.07% (2013)

  18. Time For Your Questions

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