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 2.20
Weight Watchers International Inc WTW:US 1.97
VCA Antech Inc WOOF:US 0.19
Waste Connections Inc WCN:US -0.37
Valeant Pharmaceuticals International Inc VRX:CN 0.60
United Continental Holdings Inc UAL:US -0.89
TJX Cos Inc/The TJX:US -0.56
Teva Pharmaceutical Industries Ltd TEVA:IT -0.69
SBA Communications Corp SBAC:US 1.41
EchoStar Corp SATS:US 0.69
Perrigo Co PLC PRGO:US -0.93
Priceline Group Inc/The PCLN:US -0.32
VeriFone Systems Inc PAY:US 0.00
OM Group Inc OMG:US -0.16
National Oilwell Varco Inc NOV:US 1.33
MasterCard Inc MA:US 0.27
Lorillard Inc LO:US 2.08
KKR Financial Holdings LLC KFN:US -0.34
Kaiser Aluminum Corp KALU:US 0.33
International Rectifier Corp IRF:US -0.04
Hexcel Corp HXL:US 1.22
H&R Block Inc HRB:US -0.46
HMS Holdings Corp HMSY:US -2.70
Herbalife Ltd HLF:US -0.31
GP Strategies Corp GPX:US 1.30
Finisar Corp FNSR:US 4.52
Ford Motor Co F:US -0.44
DISH Network Corp DISH:US 0.83
Cognizant Technology Solutions Corp CTSH:US -0.46
Cepheid Inc CPHD:US 0.71
Cooper Cos Inc/The COO:US -0.40
Clicksoftware Technologies Ltd CKSW:US 2.02
Brightpoint Inc CELL:US
Cubist Pharmaceuticals Inc CBST:US 0.03
Berkshire Hathaway Inc BRK/A:US 0.92
BioMarin Pharmaceutical Inc BMRN:US -0.78
BioScrip Inc BIOS:US -3.48
Apollo Education Group Inc APOL:US 1.82
Alexion Pharmaceuticals Inc ALXN:US 0.50
Assured Guaranty Ltd AGO:US -0.08
Whole Foods Market Inc WFM:US -0.80
Wells Fargo & Co WFC:US -0.33
Verizon Communications Inc VZ:US 1.06
Teleflex Inc TFX:US -0.33
AT&T Inc T:US -0.17
Sears Holdings Corp SHLD:US 14.08
Merck & Co Inc MRK:US 0.37
JPMorgan Chase & Co JPM:US -0.07
eBay Inc EBAY:US 0.51
Bristol-Myers Squibb Co BMY:US 0.71
Bank of America Corp BAC:US 0.12
American International Group Inc AIG:US 0.85
Alliance Data Systems Corp ADS:US -7.20
Apple Inc AAPL:US 1.14
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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.