Mutual Funds Have Brutal 2015 After Missing Out On FANG Craze

Only 27% of large-cap core mutual funds have outperformed the S&P 500 year-to-date, according to Goldman Sachs' analysis of 708 mutual funds with $1.2 trillion of assets under management, as they were underweight many of the hot stocks, including Facebook, Amazon, Netflix and Google, also known as FANG.

Goldman's Mutual Fundamentals research report, part of the its pool of portfolio strategy research, provides a broad overview of the mutual fund market and gives investors the low-down on mutual fund positioning. According to the report, 73% of the large-cap mutual funds covered have underperformed the S&P 500 YTD. While this figure is hardly impressive, it marks a slight uptick in performance from last year. Last year only 16%...