Investment Styles: How They Fared
The Mutual Fund Scoreboard analyzes "investment style." First, we determine median market capitalization of a fund's stocks. Large-cap is more than $5 billion; small, less than $1 billion; and midcap, $1 billion to $5 billion. Then we measure the average price-earnings and price-book ratios to see if the stocks are "growth" or "value" and compare them with the stocks in the S&P 500. Those with p-e's and p-b's below those of the S&P index are deemed "value" funds; those higher, "growth" funds. Those that are close to the S&P averages are "blends."