FP_081617_cover
Investing is a tough gig. Sometimes, a strong performance doesn’t keep investors happy. In fact, sometimes they head for the exits.

We looked at all funds that had a 15% return or higher over the past 12 months and listed them by their cash outflows over that time, which averaged $4.7 billion. For comparison, the S&P 500 posted 12.5% over the same time.

There are a number of reasons investors may leave a good game, says Tom Roseen, head of research services at Lipper. They could be moving from active to passive as a cost-related strategy. Indeed, the average cost of these 20 funds is a relatively high 76 basis points and the same trends are not happening on the cheaper ETF side of the business, Roseen said. Domestic and international equity ETFs both have taken in assets of $69.1 billion and $92.1 billion, respectively.

Other possibilities: investors also could simply be taking some profits while markets are high; or changing their asset allocation scheme. Many advisors guiding baby boomers used a core-and-satellite strategy to create their portfolios and as the years rolled by, allocations to their large-cap core became disproportionately large in some cases. And now that they’re older, they’re becoming more conservative and moving assets to fixed-income funds and dividend payers.

Scroll through to see the biggest cash outflows from funds with more than a 15% annual gain. All data from Morningstar.
FP_081617_20

20. FMI Large Cap (FMIHX)

1-Yr. Flows (millions): ($2,567)
1-Yr. Return: 15.54%
Expense Ratio: 0.90%
Total Assets (millions): $6,252
FP_081617_19

19. Fidelity Series Growth Company (FFGSX)

1-Yr. Flows (millions): ($2,641)
1-Yr. Return: 29.19%
Expense Ratio: 0.58%
Total Assets (millions): $10,967
FP_081617_18

18. Franklin Mutual Global Discovery (MDISX)

1-Yr. Flows (millions): ($2,671)
1-Yr. Return: 18.43%
Expense Ratio: 0.98%
Total Assets (millions): $22,838
FP_081617_17

17. Davis NY Venture (NYVTX)

1-Yr. Flows (millions): ($2,844)
1-Yr. Return: 20.11%
Expense Ratio: 0.89%
Total Assets (millions): $11,032
FP_081617_16

16. Thornburg International Value (TGVAX)

1-Yr. Flows (millions): ($2,958)
1-Yr. Return: 20.74%
Expense Ratio: 1.28%
Total Assets (millions): $5,985
FP_081617_15

15. T. Rowe Price Equity Index 500 (PREIX)

1-Yr. Flows (millions): ($2,971)
1-Yr. Return: 15.77%
Expense Ratio: 0.26%
Total Assets (millions): $28,395
FP_081617_14

14. Strategic Advisers Core (FCSAX)

1-Yr. Flows (millions): ($3,041)
1-Yr. Return: 17.41%
Expense Ratio: 0.21%
Total Assets (millions): $23,701
FP_081617_13

13. BlackRock Equity Dividend Inv (MBDVX)

1-Yr. Flows (millions): ($3,231)
1-Yr. Return: 15.95%
Expense Ratio: 1.72%
Total Assets (millions): $21,052
FP_081617_12

12. Fidelity Diversified International (FDIVX)

1-Yr. Flows (millions): ($3,334)
1-Yr. Return: 16.77%
Expense Ratio: 1.05%
Total Assets (millions): $19,964
FP_081617_11

11. T. Rowe Price Equity Income (PRFDX)

1-Yr. Flows (millions): ($3,737)
1-Yr. Return: 16.07%
Expense Ratio: 0.66%
Total Assets (millions): $21,710
FP_081617_10

10. Dodge & Cox International Stock (DODFX)

1-Yr. Flows (millions): ($3,912)
1-Yr. Return: 27.72%
Expense Ratio: 0.64%
Total Assets (millions): $64,392
FP_081617_09

9. Strategic Advisers International (FILFX)

1-Yr. Flows (millions): ($4,098)
1-Yr. Return: 18.06%
Expense Ratio: 0.22%
Total Assets (millions): $17,189
FP_081617_08

8. American Funds Capital World Gr&Inc (CWGIX)

1-Yr. Flows (millions): ($4,205)
1-Yr. Return: 17.26%
Expense Ratio: 0.79%
Total Assets (millions): $91,275
FP_081617_07

7. Deutsche X-trackers MSCI EAFE Hedged (DBEF)

1-Yr. Flows (millions): ($4,278)
1-Yr. Return: 18.32%
Expense Ratio: 0.35%
Total Assets (millions): $7,149
FP_081617_06

6. T. Rowe Price Growth Stock (PRGFX)

1-Yr. Flows (millions): ($5,047)
1-Yr. Return: 25.70%
Expense Ratio: 0.68%
Total Assets (millions): $51,360
FP_081617_05

5. MainStay Large Cap Growth (MLAAX)

1-Yr. Flows (millions): ($5,286)
1-Yr. Return: 18.78%
Expense Ratio: 0.99%
Total Assets (millions): $11,829
FP_081617_04

4. American Funds Growth Fund of Amer (AGTHX)

1-Yr. Flows (millions): ($6,378)
1-Yr. Return: 20.30%
Expense Ratio: 0.66%
Total Assets (millions): $163,435
FP_081617_03

3. Fidelity Low-Priced Stock (FLPSX)

1-Yr. Flows (millions): ($7,259)
1-Yr. Return: 15.17%
Expense Ratio: 0.88%
Total Assets (millions): $38,221
FP_081617_02

2. Fidelity Growth Company (FDGRX)

1-Yr. Flows (millions): ($8,466)
1-Yr. Return: 28.75%
Expense Ratio: 0.77%
Total Assets (millions): $39,310
FP_081617_01

1. Fidelity Contrafund (FCNTX)

1-Yr. Flows (millions): ($14,048)
1-Yr. Return: 21.08%
Expense Ratio: 0.68%
Total Assets (millions): $116,093
MORE FROM FINANCIAL PLANNING