Best and Worst Mutual Funds of 2011

By Ben Steverman and Wei Lu - 2011-12-16T23:15:45Z

Photograph by Jin lee/Bloomberg

Company Symbol % Change
LKQ Corp LKQ:US 1.32
Weight Watchers International Inc WTW:US 0.69
VCA Inc WOOF:US -0.90
Whole Foods Market Inc WFM:US 2.06
Wells Fargo & Co WFC:US -0.63
Waste Connections Inc WCN:US -0.19
Verizon Communications Inc VZ:US 0.70
Valeant Pharmaceuticals International Inc VRX:CN -0.91
United Continental Holdings Inc UAL:US 0.80
TJX Cos Inc/The TJX:US -0.35
Teleflex Inc TFX:US 1.04
Teva Pharmaceutical Industries Ltd TEVA:IT -0.21
AT&T Inc T:US 0.60
Sears Holdings Corp SHLD:US 2.06
SBA Communications Corp SBAC:US 1.81
EchoStar Corp SATS:US -0.03
Perrigo Co PLC PRGO:US 0.50
Priceline Group Inc/The PCLN:US 1.52
VeriFone Systems Inc PAY:US 0.11
Vectra Co OMG:US
National Oilwell Varco Inc NOV:US 2.35
Merck & Co Inc MRK:US 0.57
MasterCard Inc MA:US 0.90
Lorillard LLC LO:US
Kaiser Aluminum Corp KALU:US 0.53
JPMorgan Chase & Co JPM:US -1.42
International Rectifier Corp IRF:US
Hexcel Corp HXL:US 0.07
H&R Block Inc HRB:US 1.65
HMS Holdings Corp HMSY:US -0.97
Herbalife Ltd HLF:US 0.38
GP Strategies Corp GPX:US -1.34
Finisar Corp FNSR:US -1.20
Ford Motor Co F:US 1.19
eBay Inc EBAY:US 1.58
DISH Network Corp DISH:US 0.32
Cognizant Technology Solutions Corp CTSH:US -0.07
Cepheid CPHD:US 7.93
Cooper Cos Inc/The COO:US 3.36
ClickSoftware Technologies Ltd CKSW:US
Brightpoint Inc CELL:US
Cubist Pharmaceuticals LLC CBST:US
Berkshire Hathaway Inc BRK/A:US -0.31
Bristol-Myers Squibb Co BMY:US 0.31
BioMarin Pharmaceutical Inc BMRN:US 4.60
BioScrip Inc BIOS:US 3.14
Bank of America Corp BAC:US -1.28
Apollo Education Group Inc APOL:US -0.22
Alexion Pharmaceuticals Inc ALXN:US 1.57
American International Group Inc AIG:US -0.04
Assured Guaranty Ltd AGO:US 1.38
Alliance Data Systems Corp ADS:US -0.06
Apple Inc AAPL:US 0.30
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The Worst of the Worst

Most active fund managers fell behind their alternative -- low-cost equity index funds -- in the past year. The average actively managed fund lost 2.4 percent in 2011 to Dec. 2, while the S&P 500 provided a total return of about 1 percent. In 2010, the average fund returned 19 percent, beating the S&P 500 by more than four percentage points.

Thus, this year's worst-performing funds are much more typical of their industry than the best funds. In fact, Bloomberg Rankings' list of the year's worst funds includes two of the fund world's most prominent managers, Fairholme Fund's Bruce Berkowitz and CGM's G. Kenneth Heebner.