© 2020 Arizent. All rights reserved.
FP_010318_cover
The largest net outflows among mutual funds in 2017 weren’t relegated to one or two areas – they came across the board: funds focused on growth, income, high-yield and various sectors, as well as one ETF.

It wasn’t pronounced underperformance that prompted advisors and investors to head for the exits; all the funds on this list were in the black for the year, posting an average gain of 19.9%. That’s nearly as strong as the 21% advance for the overall U.S. market, as measured by the Vanguard Total Market ETF.

But one common thread was active management. Of the 20 largest net outflows, 18 came from actively managed funds. Active funds lost 92% of the $94 billion that advisors and investors pulled from these 20 funds last year. That’s essentially the flip side of our data slide show late last month that showed passive funds notching the biggest net inflows. Another difference can be found in the costs: The average expense among these cash losers was 67 basis points, with a couple over 1%. The average among the (mostly passive) cash gainers last time was 31 basis points, with over half below 20 bps.

Scroll through to see the largest 2017 net outflows among mutual funds, as well as three-year annualized returns for each fund and expense ratios. All data from Morningstar.
IAG_010318_20
20. BlackRock High Yield Bond (BRHYX)
2017 Outflows (millions): -$3,072
3-Yr. Return: 5.77%
Expense Ratio: 0.53%
Total Assets (millions): $16,912
FP_010318_19
19. American Funds Income Fund of Amer (AMECX)
2017 Outflows (millions): -$3,305
3-Yr. Return: 6.90%
Expense Ratio: 0.56%
Total Assets (millions): $111,292
FP_010318_18
18. Artisan International Investor (ARTIX)
2017 Outflows (millions): -$3,389
3-Yr. Return: 3.85%
Expense Ratio: 1.19%
Total Assets (millions): $14,239
FP_010318_17
17. American Funds Capital Income (CAIBX)
2017 Outflows (millions): -$3,588
3-Yr. Return: 5.37%
Expense Ratio: 0.61%
Total Assets (millions): $109,301
FP_010318_16
16. T. Rowe Price Equity Income (PRFDX)
2017 Outflows (millions): -$3,656
3-Yr. Return: 8.44%
Expense Ratio: 0.66%
Total Assets (millions): $22,563
FP_010318_15
15. Fidelity Diversified International (FDIVX)
2017 Outflows (millions): -$3,721
3-Yr. Return: 7.61%
Expense Ratio: 1.05%
Total Assets (millions): $19,185
FP_010318_14
14. Strategic Advisers Core (FCSAX)
2017 Outflows (millions): -$3,756
3-Yr. Return: 10.28%
Expense Ratio: 0.49%
Total Assets (millions): $24,270
FP_010318_13
13. T. Rowe Price Retirement 2020 (TRRBX)
2017 Outflows (millions): -$3,792
3-Yr. Return: 7.12%
Expense Ratio: 0.63%
Total Assets (millions): $25,234
FP_010318_12
12. Vanguard Windsor II Inv (VWNFX)
2017 Outflows (millions): -$3,840
3-Yr. Return: 8.11%
Expense Ratio: 0.33%
Total Assets (millions): $50,094
FP_010318_11
11. Vanguard Health Care Inv (VGHCX)
2017 Outflows (millions): -$4,164
3-Yr. Return: 6.62%
Expense Ratio: 0.37%
Total Assets (millions): $47,587
FP_010318_10
10. JPMorgan High Yield (OHYFX)
2017 Outflows (millions): -$4,313
3-Yr. Return: 5.00%
Expense Ratio: 0.75%
Total Assets (millions): $9,433
FP_010318_09
9. Franklin Income (FKINX)
2017 Outflows (millions): -$4,421
3-Yr. Return: 4.85%
Expense Ratio: 0.61%
Total Assets (millions): $82,341
FP_010318_08
8. T. Rowe Price Equity Index 500 (PREIX)
2017 Outflows (millions): -$4,548
3-Yr. Return: 10.58%
Expense Ratio: 0.21%
Total Assets (millions): $29,685
FP_010318_07
7. MainStay Large Cap Growth (MLAAX)
2017 Outflows (millions): $4,780
3-Yr. Return: 10.30%
Expense Ratio: 0.99%
Total Assets (millions): $11,918
FP_010318_06
6. Templeton Global Bond (TPINX)
2017 Outflows (millions): -$5,068
3-Yr. Return: 1.40%
Expense Ratio: 0.93%
Total Assets (millions): $38,821
FP_010318_05
5. American Funds Growth Fund of Amer (AGTHX)
2017 Outflows (millions): -$5,107
3-Yr. Return: 12.51%
Expense Ratio: 0.64%
Total Assets (millions): $177,609
FP_010318_04
4. T. Rowe Price Growth Stock (PRGFX)
2017 Outflows (millions): -$6,027
3-Yr. Return: 14.10%
Expense Ratio: 0.68%
Total Assets (millions): $53,389
FP_010318_03
3. Fidelity Growth Company (FDGRX)
2017 Outflows (millions): -$6,145
3-Yr. Return: 15.56%
Expense Ratio: 0.77%
Total Assets (millions): $41,896
FP_010318_02
2. Fidelity Low-Priced Stock (FLPSX)
2017 Outflows (millions): -$7,046
3-Yr. Return: 9.12%
Expense Ratio: 0.68%
Total Assets (millions): $39,601
FP_010318_01
1. Fidelity Contrafund (FCNTX)
2017 Outflows (millions): -$10,177
3-Yr. Return: 12.82%
Expense Ratio: 0.68%
Total Assets (millions): $123,728