Fund performance

The bank created a new unit that houses its Marcus online lending business and credit-card venture with Apple.

ETFs tracking themes — such as robotics, blockchain and cannabis — closed the year just 1% higher than where it started.

Although passive has steadily lured cash from active, this year assets in indexed equity funds topped those in active stock funds for the first time ever.

Data reported by the Investment Company Institute.

More than half of them track the industry’s top-performing category.

A major driver of growth has been the “increased awareness” of advantages like tax efficiency, liquidity and transparency, according to Bank of America.

Despite the exodus, all of the mutual funds and ETFs on the list posted net gains for the year.

“There’s less performance chasing than you saw in the past, and that’s a positive thing,” an expert says.

The fund gained 22% last month, beating more than 1,970 rivals.

Macro products that trade everything from euros to oil have struggled amid soaring stock valuations and ultra-low interest rates.

Double-digit gains produced by the mutual funds and ETFs with the most AUM were not enough to best the broader market.

Those that shorted the market suffered “steep losses,” while market-neutral products posted “modest gains.”

Data reported by the Investment Company Institute.

With an average gain of nearly 40%, the following mutual funds and ETFs are narrowly invested in the most attractive segments of the market.

The SEC’s recently passed ETF modernization rule, which expands choice in the market, “is probably the end of the mutual fund industry.”

Despite their high fees and double-digit returns, nearly all have even outperformed themselves so far this year.

The move comes amid years of mediocre returns posted by hedge funds, prompting investors to pull money and demand lower fees.

The $10.1 billion fund’s star manager, well known for his contrarian investments, held on to a short position against U.S. Treasurys even as bonds rallied.

The top 20 nearly doubled their gains over the last year, data show.

Broadly, hedge funds lost about 0.1% last month, paring gains for the year to about 6.2%, data show.