According to fund tracker Lipper, the average large-cap growth fund rose 3.5% from April through June, compared to 1.4% for the S&P 500 index. Mid-cap growth funds added 3.1% in the quarter, while small-cap growth funds led all categories with a gain of 4.2%. On the value side, small-cap funds also bested the big guys, returning 3.1%. That compares with gains at mid- and large-cap value funds of 2.6% and 1.3%, respectively.
The numbers don't seem to add up. The only class that underperformed was large-cap value. And by only 0.1%. I'm guessing what must have happened was that the large cap funds in the S&P 500 underperformed and weighted down the index (which is cap weighted). So I'm guessing that means stocks like MSFT and CSCO were dragging down the index. Checking the charts though shows both MSFT and CSCO were up in the quarter. More so for CSCO.
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