Mutual funds

The bank allegedly made “hundreds of millions of dollars” by investing client assets in underperforming proprietary and affiliated funds without disclosing conflicts to clients.

The biggest losses this year came from sectors that suffered the most in lockdown.

The allegations involving 12b-1 fees, cash sweeps and commissions also include violations of best execution rules.

The fund has absorbed $15.6 billion so far in 2020.

With an average gain of more than 108%, the lineup includes actively managed leaders with fees well above 100 basis points.

Despite a rocky year, these 20 funds recorded an average return of 13.6%.

Net flows have slowed in 2020 at the fund giant as rivals continue to roll out similar products amid the rise of robo advisors and almost-free trading.

The top 20 outpaced the broader industry and had an average net expense ratio far below the 0.45% investors paid last year.

The 20 mutual funds and ETFs on this list have an average fee of roughly 111 basis points.

The top 20 have delivered overall outperformance. However, their gains come with fees more than twice the industry average.

The $527 billion manager released two actively-managed products, one focused on U.S. equities and the other on international stocks.

The average expense ratio for this group was more than 100 basis points.

“Their top holdings are focused on those companies that have benefited in a post-COVID world,” an expert says.

Fees among the leaders range from as little as two basis points to as high as 125 basis points.

“These are tracking the industries that are supporting the economy and will continue in the post-pandemic world,” an expert says.

Among the decade’s worst performers — those with more than $1 billion in assets under management — were a handful of products with stellar short-term returns.

Do-it-yourself-minded investors have never had more places to put their savings, writes Bloomberg’s Nir Kaissar.

“Investors are going into lower, more passive mutual funds because they don't want to pay the fees,” an expert says.

“A typical Gen Z-er may not be as interested in owning a mutual fund," says Contrafund's Will Danoff.

“Expense ratios matter to most people, particularly when you're looking at these mostly passive funds,” an expert says.