San Francisco - January 9, 2003. Among the S&P U.S. equity indexes, smaller-cap indexes and value indexes dominated in 2003.
|
Index |
2003 Total Return |
|
S&P/Barra Large Cap Growth |
25.66% |
|
S&P 500 |
28.67% |
|
S&P/Barra Large Cap Value |
31.79% |
|
S&P/Barra MidCap Growth |
30.95% |
|
S&P MidCap 400 |
35.59% |
|
S&P/Barra MidCap Value |
40.18% |
|
S&P/Barra SmallCap Growth |
37.32% |
|
S&P SmallCap 600 |
38.77% |
|
S&P/Barra SmallCap Value |
40.03% |
Source: Morningstar, data as of 12/31/2003
For comparison's sake, the table below shows how the average active fund in Morningstar's fund database fared, by investment style.
|
Fund category |
# of funds |
Average return in 2003 |
|
Large Growth |
1,303 |
28.53% |
|
Large Blend |
1,485 |
26.75% |
|
Large Value |
996 |
28.41% |
|
Mid-Cap Growth |
808 |
36.12% |
|
Mid-Cap Blend |
360 |
36.43% |
|
Mid-Cap Value |
313 |
34.31% |
|
Small Growth |
691 |
44.95% |
|
Small Blend |
399 |
42.74% |
|
Small Value |
294 |
42.66% |
Source: Morningstar, data as of 12/31/2003
Although the mutual fund industry was plagued by scandal in 2003, the stock market enjoyed the first up year since 1999. The S&P was up nearly 29% for the year - a welcome respite from the bear market of the past few years.
The table below shows how broad ETFs performed for the year.
|
ETF |
Ticker |
2003 total return |
|
Vanguard Total Stock Market VIPERs |
VTI |
31.43% |
|
Dow Jones Diamonds |
DIA |
28.00% |
|
iShares Dow Jones REIT |
IYR |
35.73% |
|
SPDR 500 Trust |
SPY |
28.39% |
|
Nasdaq-100 Trust |
QQQ |
49.12% |
|
iShares MSCI EAFE |
EFA |
38.45% |
|
iShares Lehman 1-3 Treasury Bond |
SHY |
1.79% |
|
iShares Lehman 20+ Year Treasury Bond |
TLT |
1.75% |
|
iShares Lehman 7-10 Year Treasury Bond |
IEF |
2.05% |
|
iShares GS$ Investop |
LQD |
7.43% |
|
iShares Russell 1000 Growth |
IWF |
29.46% |
|
iShares Russell 1000 |
IWB |
29.64% |
|
iShares Russell 1000 Value |
IWD |
29.70% |
|
iShares Russell 2000 Growth |
IWO |
48.18% |
|
iShares Russell 2000 |
IWM |
46.94% |
|
iShares Russell 2000 Value |
IWN |
45.60% |
|
iShares Russell 3000 Growth |
IWZ |
30.66% |
|
iShares Russell 3000 |
IWV |
30.78% |
|
iShares Russell 3000 Value |
IWW |
30.76% |
Source: Morningstar, data as of 12/31/2003
Sector ETFs also enjoyed across the board growth in 2003, as shown below.
|
Sector ETF |
Sector |
Ticker |
2003 Return |
|
iShares DJ Telecom |
Communication |
IYZ |
12.85% |
|
streetTRACKS REIT |
Real Estate |
RWR |
35.58% |
|
iShares C&S Realty |
Real Estate |
ICF |
36.78% |
|
iShares DJ REIT Index |
Real Estate |
IYR |
35.73% |
|
iShares DJ Financial Services |
Financial |
IYG |
34.04% |
|
iShares DJ Financial Sector |
Financial |
IYF |
31.37% |
|
Financial SPDR |
Financial |
XLF |
30.60% |
|
iShares NASDAQ Biotech |
Health |
IBB |
45.59% |
|
iShares DJ Health |
Health |
IYH |
18.70% |
|
iShares DJ Utilities |
Utilities |
IDU |
24.11% |
|
Utilities SPDR |
Utilities |
XLU |
25.80% |
|
iShares GS Software |
Technology |
IGV |
49.59% |
|
iShares Semiconductor |
Technology |
IGW |
82.13% |
|
iShares GS Network |
Technology |
IGN |
104.60% |
|
iShares GS Tech |
Technology |
IGM |
53.62% |
|
Morgan Stanley Tech |
Technology |
MTK |
65.07% |
|
iShares DJ Tech |
Technology |
IYW |
50.14% |
|
Technology SPDR |
Technology |
XLK |
39.08% |
|
iShares GS Nat Res |
Natural Res |
IGE |
33.63% |
|
iShares DJ US Energy |
Natural Res |
IYE |
27.12% |
|
Energy SPDR |
Natural Res |
XLE |
26.32% |
Source: Morningstar, data as of 12/31/2003
Two of the ten best-performing ETFs in 2003 notched triple-digit gains.
|
Fund |
Ticker |
2003 Return |
|
iShares Brazil Index |
EWZ |
112.85% |
|
iShares GS Network |
IGN |
104.60% |
|
iShares Semiconductor |
IGW |
82.13% |
|
Morgan Stanley Tech |
MTK |
65.07% |
|
iShares Sweden Index |
EWD |
64.24% |
|
iShares Germany Indx |
EWG |
63.09% |
|
iShares SP Latin 40 |
ILF |
61.83% |
|
iShares Austria Index |
EWO |
58.46% |
|
iShares Spain Index |
EWP |
56.78% |
|
iShares GS Tech |
IGM |
53.62% |
Source: Morningstar, data as of 12/31/2003
While none of the 10 worst-performing even posted a negative gain for 2003.
|
Fund Name |
Ticker |
2003 Return |
|
iShares Lehman 20+ |
TLT |
1.75% |
|
iShares Lehman 1-3 T |
SHY |
1.79% |
|
iShares Lehman 7-10 |
IEF |
2.05% |
|
iShares GS$ InvesTop |
LQD |
7.43% |
|
Consumer Staple SPDR |
XLP |
10.95% |
|
iShares DJ Telecom |
IYZ |
12.85% |
|
Health Care Sel SPDR |
XLV |
14.75% |
|
iShares SP Glb Hlth |
IXJ |
17.73% |
|
iShares DJ Health |
IYH |
18.70% |
|
iShares DJ Con N-Cyc |
IYK |
20.82% |
Source: Morningstar, data as of 12/31/2003
