STATS

Large-cap funds that beat the S&P 500

1-YEAR RETURN RANKINgs

large-cap GROWTH FUNDS

NAME 1-YEAR % 3-YEAR % 5-YEAR % Assets Volatility

Sequoia 52.92 38.36 26.96 4,477.5 3.79

Heritage Capital Appreciation Trust A 47.08 30.67 21.64 109.9 3.43

Massachusetts Investors Growth Stock A 46.40 36.27 23.53 2,548.4 4.50

Weitz Series Fund — Value Portfolio 46.22 32.68 22.39 493.5 3.21

Pioneer Growth Shares A 44.33 36.80 24.44 864.1 4.93

Nicholas-Applegate — Large Cap Growth Inst’l 44.02 N/A N/A 2.4 N/A

Focus Trust 42.32 26.68 N/A 10.8 3.53

All Equity Growth Funds (973) 26.73 24.31 18.17 3.83

GRoWTH & INCOME FUNDS

Nicholas-Applegate — Value Port Inst’l 42.67 N/A N/A 8.6 N/A

Nationwide 42.34 34.65 23.71 1,977.0 2.86

Fenimore Asset Mgmt Trust — FAM Value 41.29 24.91 17.21 363.2 3.28

Golden Oak — Growth Portfolio A 40.70 24.97 N/A 0.4 4.26

WPG Growth and Income 39.60 32.02 21.00 146.4 3.44

Janus Investment — Growth and Income 39.07 33.00 21.92 2,638.3 4.09

PIMCO Funds — Core Equity Growth Inst’l 38.48 25.60 N/A 1.8 4.00

All Growth and Income Funds (660) 27.28 25.31 18.98 3.26

S&P 500 (Composite) 33.43 30.23 22.60 4.25

Big and small funds in both categories beat the Standard and Poor’s 500 stock index over the last year, but that couldn’t be said of the average fund: Most lag the index dramatically.

Five-year return rankings

large-cap growth funds

name 1-YEAR % 3-YEAR % 5-YEAR % Size Volatility

Legg Mason Value Trust Primary 41.48 40.46 29.35 5,124.1 4.16

Advisors Inner Circle — White Oak Growth 32.50 36.37 27.67 637 5.72

Fidelity Dividend Growth 39.00 32.39 27.00 6,433.6 3.44

Sequoia 52.92 38.36 26.96 4,477.5 3.79

Enterprise Group — Growth Portfolio A 31.92 34.03 26.05 602.7 4.19

Torray 38.93 35.35 26.00 1,452.0 3.43

Morgan Stanley Inst’l Fund — Equity Growth A 36.58 33.23 25.08 729.4 3.53

All Equity Growth Funds (391) 26.73 24.31 18.17 3.83

growth & Income funds

Nationwide 42.34 34.65 23.71 1,977.0 2.86

Capital Exchange 32.37 30.15 23.19 173.4 3.41

Smith Breeden Equity Market Plus 31.64 30.03 22.94 149.2 3.36

Selected American Shares 31.94 31.58 22.86 2,634.7 3.76

Vanguard Growth & Income Portfolio 38.44 31.09 22.76 3,560.3 3.72

Massachusetts Investors Trust A 33.64 31.38 22.68 5,560.8 3.24

Vanguard Index Inst’l 33.50 30.32 22.64 18,463.1 3.45

Goldman Sachs — Core U.S. Equity A 33.29 28.63 22.61 493 3.42

All Growth & Income funds (281) 27.28 25.31 18.98 3.26

S&P 500 (Composite) 33.43 30.23 22.60 4.25

Looking back five years, only eight growth and income funds turned in better returns than the S&P 500 stock index, and one of those was ahead by just .01 percentage point.

3-year return rankings

large-cap growth funds

name 1-YEAR % 3-YEAR % 5-YEAR % Assets Volatility

Legg Mason Value Trust Primary 41.48 40.46 29.35 5,124.1 4.16

Sequoia 52.92 38.36 26.96 4,477.5 3.79

Pioneer Growth Shares A 44.33 36.80 24.44 864.1 4.93

Advisors Inner Circle — White Oak Growth 32.50 36.37 27.67 637 5.72

Massachusetts Investors Growth Stock A 46.40 36.27 23.53 2,548.4 4.50

Pioneer Growth Shares B 43.19 35.86 N/A 360.9 4.93

Torray 38.93 35.35 26.00 1,452.0 3.43

All Equity Growth Funds (640) 26.73 24.31 18.17 3.83

growth & Income funds

Nationwide 42.34 34.65 23.71 1,977.0 2.86

Janus Investment — Growth and Income 39.07 33.00 21.92 2,638.3 4.09

Reynolds Funds — Blue Chip Growth 32.46 32.37 21.80 72.1 4.43

WPG Growth and Income 39.60 32.02 21.00 146.4 3.44

Selected American Shares 31.94 31.58 22.86 2,634.7 3.76

Kemper-Dreman High Return A 25.78 31.50 22.34 2,067.6 3.22

Massachusetts Investors Trust A 33.64 31.38 22.68 5,560.8 3.24

All Growth & Income funds (456) 27.28 25.31 18.98 3.26

S&P 500 (Composite) 33.43 30.23 22.60 4.25

The chart makes clear that past performance is no guarantee: Though the No. 1 funds beat the index for all three time periods, others fall down when one-year returns are measured.