Some large mutual funds are suffering unusually sharp losses this year because of their investments in financial sector stocks. An index of large bank stocks, for example, was down 32 percent through Wednesday, compared with the 7 percent drop in the Standard & Poor’s 500 index.
Below are eight diversified stock funds with at least $1 billion in assets that recently had the largest percentages of their portfolios invested in financial services sector stocks. That’s a category that includes such companies as banks, credit card networks and investment managers. The list was compiled by fund tracker Morningstar, based on funds’ latest holdings reports, some dating to May 31.
Note: Return data through Sept. 21