Fidelity Investments is having one of its weakest first five months in recent history. Only 39% of Fidelity's equity funds are in the company of the top half of their peers, whereas 64% were a year ago, according to Morningstar.

While it is true that many fund companies have taken a slight beating in the past few months, other large fund companies are still performing relatively well, according to the report in The Wall Street Journal. For example, at American Funds, 75% are in the top half of their peer groups, and at Vanguard Group, 63% are in the top half as well.

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