BusinessWeek's Mutual Fund Scoreboard rates funds based on the past five years' pretax total returns, adjusted for risk. Here we show the equity funds that received A ratings for the best risk-adjusted returns against all equity funds. To compare funds on a number of measures see the Mutual Funds Interactive Scoreboard.

Fund 5-yr. Avg. Annual Tot. Return* Category
ABN AMRO Real Estate N 24.9 Real Estate
AEW Real Estate A 25.1 Real Estate
AIM Asia Pacific Growth A 22.0 Pacific/Asia ex-Japan
AIM Developing Markets A 28.2 Diversified Emerging Markets
AIM European Growth A 21.6 Europe
AIM European Small Company A** 36.8 Europe
AIM Gold & Precious Metals Inv** 32.6 Precious Metals
AIM International Small Company A** 33.5 Foreign
AIM Real Estate A** 27.1 Real Estate
Adelante US Real Estate Securities Y 24.3 Real Estate
AllianceBernstein Greater China 97 A 21.3 Pacific/Asia ex-Japan
AllianceBernstein International Value A 21.9 Foreign
AllianceBernstein Real Estate Investment A 24.7 Real Estate
AllianceBernstein Real Estate Invstmnt Ist I 24.9 Real Estate
Alpine International Real Estate Equity Y 29.0 Real Estate
Alpine Realty Income & Growth Y 24.8 Real Estate
Alpine US Real Estate Equity Y 25.3 Real Estate
Amer Beacon Emerging Markets Instl 26.7 Diversified Emerging Markets
Amer Century Emerging Markets Inv** 24.7 Diversified Emerging Markets
Amer Century Global Gold Inv 33.1 Precious Metals
Amer Century International Disc Inv 20.5 Foreign
Amer Century International Opport Inv 27.6 Foreign
Amer Century Real Estate Inv** 25.5 Real Estate
AssetMark Real Estate Securities** 24.1 Real Estate
BlackRock Developing Cp Mkts Inc Inv A 24.0 Diversified Emerging Markets
BlackRock Global Resources Inv A**/TD> 35.9 Natural Resources
BlackRock Intl Opportunities Inv A** 25.3 Foreign
BlackRock Latin America Inc Inv C 34.4 Latin America
BlackRock Natural Resources Tr Inv A 26.1 Natural Resources
Boston Company International Small Cap** 27.7 Foreign
Bridgeway Ultra Small Company** 25.2 Small-cap Growth
Bridgeway Ultra Small Company Market 22.3 Small-cap Blend
Bruce 29.0 Domestic Hybrid
CGM Realty 36.0 Real Estate
Cohen & Steers Instl Reatly Shares 26.3 Real Estate
Cohen & Steers Realty Focus Instl 28.5 Real Estate
Cohen & Steers Realty Shares 26.2 Real Estate
Columbia Acorn International Z 20.6 Foreign
Columbia Real Estate Equity Z 22.3 Real Estate
Consulting Grp Cap Mkts Emerg Mkts Eq Inv 25.4 Diversified Emerging Markets
Credit Suisse Emerging Market Cmn 22.0 Diversified Emerging Markets
DWS Emerging Markets Equity S 27.0 Diversified Emerging Markets
DWS Gold & Precious Metals S 37.7 Precious Metals
DWS Latin America Equity S 30.2 Latin America
DWS Pacific Opportunities Equity S 21.0 Pacific/Asia ex-Japan
Davis Real Estate A 25.1 Real Estate
Delaware Emerging Markets A 29.2 Diversified Emerging Markets
Delaware Real Estate Inv Tr A 21.9 Real Estate
Dodge & Cox Intl Stock 20.5 Foreign
Dreyfus Founders Passport F** 20.9 Foreign
Dreyfus Premier Emerging Markets A** 25.1 Diversified Emerging Markets
Dreyfus Premier Greater China A 21.9 Pacific/Asia ex-Japan
Driehaus Emerging Markets Growth** 30.6 Diversified Emerging Markets
Driehaus International Discovery 21.7 Foreign
EII Realty Securities Instl 22.8 Real Estate
Eastern European Equity A 32.9 Europe
Eaton Vance Asian Small Companies A** 30.1 Diversified Pacific/Asia
Eaton Vance Emerging Mkts A 26.0 Diversified Emerging Markets
Eaton Vance Greater India A 37.2 Pacific/Asia ex-Japan
Evergreen Emerging Mkts Gr A 28.6 Diversified Emerging Markets
Evergreen Precious Metals A 40.0 Precious Metals
Excelsior Emerging Markets 28.7 Diversified Emerging Markets
Excelsior Engy & Natrl Resources 23.3 Natural Resources
Excelsior Real Estate 22.4 Real Estate
FBR Small Cap 20.5 Small-cap Growth
Fidelity Advisor Korea A 25.3 Pacific/Asia ex-Japan
Fidelity Advisor Latin America A 32.7 Latin America
Fidelity Advisor Leverged Co Stock A 27.4 Mid-cap Value
Fidelity Canada 22.5 Foreign
Fidelity Emerging Market 27.6 Diversified Emerging Markets
Fidelity Latin America 33.7 Latin America
Fidelity Real Estate Investment 24.7 Real Estate
Fidelity Select Energy 22.4 Natural Resources
Fidelity Select Energy Service 23.3 Natural Resources
Fidelity Select Gold 30.3 Precious Metals
Fidelity Select Natural Gas 23.3 Natural Resources
Fidelity Select Natural Resources 21.4 Natural Resources
Fidelity Southeast Asia 23.4 Pacific/Asia ex-Japan
First American Real Estate Securities Y 26.7 Real Estate
First Eagle Gold A** 35.1 Precious Metals
First Eagle Overseas A 23.0 Foreign
Forward Progressive Real Estate 20.9 Real Estate
Franklin Gold & Precious Metals A 31.8 Precious Metals
Franklin Strategic Natural Resources A 21.9 Natural Resources
GMO Emerging Markets Quality III** 31.6 Pacific/Asia ex-Japan
Gartmore Emerging Markets A 27.7 Diversified Emerging Markets
Goldman Sachs Emerg Mkts Eq A 25.6 Diversified Emerging Markets
Goldman Sachs Real Estate Sec A 25.1 Real Estate
Guinness Atkinson Asia Focus 24.2 Pacific/Asia ex-Japan
Hansberger Emerging Markets Instl 25.1 Diversified Emerging Markets
Harding Loevner Emerging Markets 28.2 Diversified Emerging Markets
Henderson European Focus A 28.6 Europe
ICON Energy 24.8 Natural Resources
ICON European Region 21.2 Europe
ING Global Natural Resources 31.2 Natural Resources
ING Global Real Estate A 26.5 Real Estate
ING Russia A 47.0 Diversified Emerging Markets
Ivy European Opportunities A 23.7 Europe
Ivy Global Natural Res A 28.5 Natural Resources
Ivy Pacific Opportunities A 22.0 Pacific/Asia ex-Japan
Ivy Real Estate Securities A 25.1 Real Estate
JPMorgan Emerging Mkts Eqty Sel 26.6 Diversified Emerging Markets
JPMorgan Intrepid European Sel 20.7 Europe
JPMorgan Realty Income I 25.1 Real Estate
JPMorgan US Real Estate A 24.8 Real Estate
Jacob Internet 26.0 Technology
Jennison Natural Resources A 34.5 Natural Resources
John Hancock Real Estate A 22.5 Real Estate
Johnson Inv Counsel Realty 21.5 Real Estate
Kinetics Paradigm 20.7 All Cap
Laudus Rosenberg Intl Sm Cap Inv** 26.2 Foreign
Lazard Emerging Markets Open 29.9 Diversified Emerging Markets
Lazard International Small Cap Open 20.3 Foreign
Legg Mason Glbl Tr Emerging Mkts Prim 26.9 Diversified Emerging Markets
MFS Emerging Markets Equity A** 26.9 Diversified Emerging Markets
Managers Emerging Mkts Equity 26.7 Diversified Emerging Markets
Managers Real Estate Securities 23.5 Real Estate
Matthews Asian Growth & Income** 21.3 Pacific/Asia ex-Japan
Matthews China 21.0 Pacific/Asia ex-Japan
Matthews Korea 27.2 Pacific/Asia ex-Japan
Matthews Pacific Tiger** 24.1 Pacific/Asia ex-Japan
Mellon Emerging Markets M 25.8 Diversified Emerging Markets
Mercantile Diversified Real Estate Inst 23.1 Real Estate
Midas 37.9 Precious Metals
Morgan Stanley Instl Emerging Markets A 27.5 Diversified Emerging Markets
Morgan Stanley Instl Intl Real Estate A 34.3 Real Estate
Morgan Stanley Instl US Real Estate A 26.1 Real Estate
Morgan Stanley Real Estate B** 24.6 Real Estate
Munder Real Estate Eq Invmnt A 23.7 Real Estate
New World A 22.0 Diversified Emerging Markets
OCM Gold 35.5 Precious Metals
Oakmark International Small Cap I** 25.5 Foreign
Old Mutual Heitman REIT Z 24.2 Real Estate
Oppenheimer Developing Markets A 31.6 Diversified Emerging Markets
Oppenheimer Gold & Special Minerals A 34.6 Precious Metals
Oppenheimer Intl Small Company A 31.9 Foreign
Perritt Micro Cap Opportunities 21.6 Small-cap Growth
Phoenix Insight Emerging Markets A 24.2 Diversified Emerging Markets
Phoenix Real Estate Sec A 26.9 Real Estate
Pioneer Emerging Markets A 27.4 Diversified Emerging Markets
Pioneer Real Estate Shares A 24.9 Real Estate
Polaris Global Value Investor 21.0 World
ProFunds Oil & Gas Ultrasector Inv 24.8 Natural Resources
ProFunds Real Estate Ultrasector Inv 27.5 Real Estate
Putnam Global Natural Resources A 21.5 Natural Resources
Quant Emerging Markets Ord 31.1 Diversified Emerging Markets
Quant Foreign Value Ord 23.5 Foreign
RS Emerging Markets A 29.6 Diversified Emerging Markets
RS Global Natural Resources A 29.9 Natural Resources
RS Partners A** 23.4 Small-cap Value
RS Value A 23.6 Mid-cap Value
RiverSource Emerging Markets A 25.6 Diversified Emerging Markets
RiverSource Precious Metals and Mining A 32.9 Precious Metals
Royce Value Plus Svc 23.1 Small-cap Value
Russell Emerging Markets S 26.9 Diversified Emerging Markets
Russell Real Estate Securities S 25.0 Real Estate
Rydex Precious Metals 23.7 Precious Metals
SEI Emerging Markets Equity 23.9 Diversified Emerging Markets
SSgA Emerging Markets 27.9 Diversified Emerging Markets
Schneider Small Cap Value** 25.9 Small-cap Value
Select Sector SPDR Energy 20.8 Natural Resources
Seligman Emerging Markets A 26.1 Diversified Emerging Markets
Sit Developing Markets Growth 20.3 Diversified Emerging Markets
Strategic Partners Real Estate A 29.3 Real Estate
T Rowe Price Emerging Europe & Mediterranean 37.7 Diversified Emerging Markets
T Rowe Price Emerging Markets Stock 28.0 Diversified Emerging Markets
T Rowe Price Intl Discovery 21.3 Foreign
T Rowe Price Latin America 35.0 Latin America
T Rowe Price New Asia 23.8 Pacific/Asia ex-Japan
T Rowe Price New Era 21.5 Natural Resources
T Rowe Price Real Estate 26.1 Real Estate
TCW Emerging Markets Equities I 22.3 Diversified Emerging Markets
Templeton China World A 27.1 Pacific/Asia ex-Japan
Templeton Developing Markets A 26.1 Diversified Emerging Markets
Templeton Instl Emerging Markets 26.6 Diversified Emerging Markets
Third Avenue Real Estate Value 23.1 Real Estate
Third Millennium Russia A 40.0 Diversified Emerging Markets
Tocqueville Gold 38.7 Precious Metals
Tocqueville International Value 21.3 Foreign
UBS PACE Intl Emerging Mkts Eqty P 22.4 Diversified Emerging Markets
US Global Accolade Eastern European 43.4 Europe
US Global Inv China Region Opp 20.5 Pacific/Asia ex-Japan
US Global Inv Global Resources 41.8 Natural Resources
US Global Inv Gold Shares 44.3 Precious Metals
US Global Inv World Prec Minerals 49.9 Precious Metals
USAA Emerging Markets 25.5 Diversified Emerging Markets
USAA Precious Metals & Minerals 40.7 Precious Metals
Van Eck Emerging Markets A 22.1 Diversified Emerging Markets
Van Eck Global Hard Assets A 30.1 Miscellaneous
Van Eck Intl Investors Gold A 40.3 Precious Metals
Van Kampen Emerg Mkts A 26.9 Diversified Emerging Markets
Van Kampen Real Estate Securities A** 25.0 Real Estate
Vanguard Emerging Mkts Stock Index 26.6 Diversified Emerging Markets
Vanguard Energy Inv 27.9 Natural Resources
Vanguard International Explorer** 22.2 Foreign
Vanguard Precious Metals and Mining** 35.9 Precious Metals
Vanguard REIT Index 23.8 Real Estate
Wells Fargo Advtg Asia Pacific Inv 22.2 Diversified Pacific/Asia
Wells Fargo Advtg Emg Mkt Focus A 25.1 Diversified Emerging Markets
Wells S&P REIT Index A 22.5 Real Estate
iShares Cohen & Steers Realty Majors 25.7 Real Estate
iShares DJ US Real Estate Index 22.8 Real Estate
iShares MSCI Australia Index 24.1 Foreign
iShares MSCI Austria Index 37.8 Europe
iShares MSCI Belgium Index 22.3 Europe
iShares MSCI Brazil Index 34.1 Latin America
iShares MSCI Canada Index 20.1 Foreign
iShares MSCI Mexico Index 30.5 Latin America
iShares MSCI Pacific ex Japan Index 21.4 Pacific/Asia ex-Japan
iShares MSCI Singapore Index 21.3 Pacific/Asia ex-Japan
iShares MSCI South Korea Index 25.6 Pacific/Asia ex-Japan
iShares MSCI Spain Index 21.8 Europe
iShares S&P Glbl Energy Sctr Idx 20.8 Natural Resources
iShares S&P Latin America 40 Idx 31.8 Latin America
n/i numeric investors Small Cap Value 21.0 Small-cap Value
streetTRACKS DJ Wilshire REIT ETF 24.6 Real Estate

*Appreciation plus reinvestment of dividends and capital gains before taxes, Jan. 1, 2002 - Dec. 29, 2006

Data: Standard & Poor's

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