美银-全球基金表现监测：部分基金十月创纪录

Accessibleversion

BofAGLOBALRESEARCH

BofASECURIIES

GlobalFundPerformanceMonitor

RecordOctoberforsomefunds

HighASRfundsandYieldfundshadarecordOctober

InOctober,46%ofActivefundsgloballyoutperformedbenchmark(medianrelative

return-0.18%),butafewgroupsoffundsachievedrecordresults.Fundswithahigh

ActiveShareRatio(>80%)hadthebestmonthonrecord(datasince2015)with65%offundsoutperformingbenchmarkbyamedian+1.16%.ItwasalsoarecordmonthforYieldfundswith72%outperformingbyamedian+1.77%.Amongotherfundgroups,66%ofValueoutperformed(+0.87%)butonly36%ofGrowthoutperformed(-0.42%).Recentdriversofrelativeperformanceseemtobeinterestrates,marketbreadth,andsentimenttowardsAl-relatedglobalthemes.

Yieldfunds'largestactivestockexposures

Globally,Yieldfunds’largestoverweightpositionsareGSK,Sanofi,TargaResources,TotalEnergies,DTMidstream,Johnson&Johnson,andTaylorWimpey.Yieldfunds'

largestunderweightsareNVIDIA.Apple.Amazon.Microsoft.HSBCplc.andASML.

HighActiveShareRatiofunds'largestactiveexposuresHighASR(>80%)funds'largestoverweightpositionsareTSMC,Edenred,SPIE,GamesWorkshop.Weir.SpaceX.andCATL.Thesefunds'largestunderweightpositionsareApple,NVIDIA,Microsoft,Amazon,Alphabet,Broadcom,Meta,andTesla.

Chart1:ProportionofActiveFundsoutperformingbenchmark

80%

70%

50%

40%

20%

10%

0%

LP

足

Lastmonth,46%ofActivefundsoutperformedbenchmark

HitRate(%-Proportionofacivefundsoutperforming

theirbenchmark

a15

May-18

Od-18

a-20

ov-20

M22

May-23

Ma-24

Ang-24

ep-26

Feb-27

灿427

12-

52-u

Feb-22

Source:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg.BenchmarkIndices

BofAGLOBALRESEARCH

Tradingideasandinvestmentstrategiesdiscussedhereinmaygiverisetosignificantriskandarenotsuitableforallinvestors.Investorsshouldhaveexperienceinrelevantmarketsandthefinancialresourcestoabsorbanylossesarisingfromapplyingtheseideasorstrategies.

>>Employedbyanon-USaffiliateofBofASandisnotregistered/qualifiedasaresearchanalystundertheFINRArules.

Referto"OtherImportantDisclosures"forinformationoncertainBofASecuritiesentitiesthattakeresponsibilityfortheinformationhereininparticularjurisdictions.

BofASecuritiesdoesandseekstodobusinesswithissuerscoveredinitsresearch

reports.Asaresult,investorsshouldbeawarethatthefirmmayhaveaconflictof

Refertoimportantdisclosuresonpage68to70.13040188

interestthatcouldaffecttheobjectivityofthisreport.Investorsshouldconsiderthisreportasonlyasinglefactorinmakingtheirinvestmentdecision.

05November2026

QuantStrategyGlobal

BofA

Data

Analytics

NigelTupper>>

QuantStrategist

MerrillLynch(Australia)+61292265735

nigel.tupper@

AmarVashi>>

QuantStrategist

MerillLynch(Australia)

amarvashi③bofacom

SumuhanShanmugalingam>>QuantStrategist

MerillLynch(Australia)

sumuhan.shanmugalingam@

■FundsbyRegions

■FundsbyInvestmentStyle

■FundsbyActive/Passive

■FundsbyActiveShareRatio

■FundsbyFUM

■FundsbyMarketCapofStocks

■FundsbyPortfolioSize

■FundsbyTurnover

■RelativeReturns

■HitRate

2GlobalFundPerformanceMonitor|05November2026

Contents

Fundsbyegion4

Fundsbyegion:GLOBAL(DM+EM)5

Fundsbyegion:GLOBAL(DevelopedMarkets)6

Fundsbyegion:EAFE(DMex-US)7

Fundsbyegion:USA8

Fundsbyegion:EUOPE9

Fundsbyegion:JAPAN10

Fundsbyegion:ASIAPACex-JAPAN11

Fundsbyegion:EMEGINGMAKETS12

FundsbyInvestmentStyle13

FundsbyInvestmentStyle:VALUE14

FundsbyInvestmentStyle:GOWTH15

FundsbyInvestmentStyle:GAP16

FundsbyInvestmentStyle:YIELD17

FundsbyInvestmentStyle:INDEXfunds18

FundsbyActive/Passive19

ACTIVEfunds20

PASSIVEfunds21

FundsbyActiveShareatio(AS)22

FundsbyASbetween1%-20%23

FundsbyASbetween21%-40%24

FundsbyASbetween41%-60%25

FundsbyASbetween61%-80%26

FundsbyASbetween81%-100%27

FundsbyFundsUnderManagement(FUM)($US)28

FundsbyFUMbetween$1-$750m29

FundsbyFUMbetween$750m-$1bn30

FundsbyFUMbetween$1bn-1.5bn31

FundsbyFUMbetween$1.5bn-$2.0bn32

FundsbyFUMbetween$2bn-$5bn33

FundsbyFUMbetween$5.0bn-$10bn34

FundsbyFUM>$10bn35

FundsbyMarketCapofStocks36

FundsbyMarketCap:LAGECAP37

FundsbyMarketCap:MULTICAP38

FundsbyMarketCap:MIDCAP39

FundsbyMarketCap:SMALLCAP40

GlobalFundPerformanceMonitor|05November20263

FundsbyPortfolioSize(#stocks)41

FundsbyPortfolioSize(<35stocks)42

FundsbyPortfolioSize(36-75stocks)43

FundsbyPortfolioSize(76-100stocks)44

FundsbyPortfolioSize(101-200stocks)45

FundsbyPortfolioSize(201-400stocks)46

FundsbyPortfolioSize(401-700stocks)47

FundsbyPortfolioSize(>700stocks)48

FundsbyTurnover49

FundsbyTurnover:HIGH50

FundsbyTurnover:MEDIUM51

FundsbyTurnover:LOW52

FundsbyTurnover:VEYLOW53

SummaryTable:Medianelativeeturns54

SummaryTable:ProportionofFundsOutperforming63

SummaryTable:Spreadofreturns64

Methodology65

GlobalQuantStrategyPublications66

BofAGLOBALRESEARCH

FundsbyRegion

Chart2:RelativereturnsofFundsbyRegion:Lastmonth

ThenarrowestmarginbetweenthetopandbottomquartilewasforEAFEfunds

RelativeReturn

Global(DM+EM)

lobal(DM(

EAFE

USA

Europe

Japan

AsiaPacexJapan

EmergingMarkets

150%1.00%

0.50%

0.00%

-0.50%

-1.00%-1.50%-2.00%

□MedanReativeRetum

9BottomQuartile

●TopQuartile

Source:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg.BenchmarklIndices

BofAGLOBALRESEARCH

Chart3:RelativereturnsofFundsbyRegion:Periodicreturns

EmergingMarketsfundshaveperformedthebestinthelast10m

ReltiveReturn

Globa(DM+EM)

Globa(DM)

EAFE

USA

Europe

Japan

AsiaPace-apan

EmegingMarkets

0.50%

0.00%

-0.50%

-1.00%

-1.50%

-2.00%

-2.50%

□3-months□6-months■YTDSource:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg.BenchmarklIndices

BofAGLOBALRESEARCH

Chart4:PercentageofFundsbyRegion

USAfundsconstitutes38%ofthisfundgroup

BUSA(1008,513,751bn)BEunope(468,51,007bn)

BGlobal(DM)(295,51,459bn)

□Global(DM+EM)(257,51,766bn)

□EmergingMarkets(218,$1,085bn)

□AsiaPacex-Japan(202,5703m)

□Japan(106,$807bn)

□EAFE(77,$1,461bn)

4%8%

8%

11%

18%

Source:BofAGlobalQuantitativeStrategy,FactSetBloombergBenchmarklndices

BofAGLOBALRESEARCH

4GlobalFundPerformanceMonitor|05November2026

BofAGLOBALRESEARCH

FundsbyRegion:GLOBAL(DM+EM)

Chart5:RelativereturnsofGlobalDM+EMfunds-Last12months

Global(DM+EM)fundshaveunderperformedby-0.34%lastmonth

RelativeReturn

Nov-25

Dec-25

Jan-26

Feb-26

Mar-26

Apr-26

May-26

9Z-un(

Ju-26

ct-26

2.0%

1.5%

1.0%

0.5%

0.0%

-0.5%

-1.0%

-15%

-20%

-2.5%

62-guA

62-pS

□MedianRelativeReturn●TopQuartileBottomQuartile

Source:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg,Benchmarklndices

BofAGLOBALRESEARCH

Chart6:RelativereturnsofGlobalDM+EMfunds:Periodicreturns

Global(DM+EM)haveunderperformedby-0.34%inthelast1-month

RelatveReturn

2.0%1.0%

0.0%-1.0%-20%-3.0%-4.0%-5.0%-6.0%-7.0%-8.0%-90%

1-month3-months6-months

2-y3-yr

□MedanRelativeReturmOTopQuartileOBottomQuartile

Source:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg.Benchmarklndices*relativeannualizedreturn

BofAGLOBALRESEARCH

Table1:RelativereturnsofGlobalDM+EMfunds:Periodicreturns

Median,TopandBottomQuartilereturnsforvariousperiods

PeriodMedianRelativeReturnTopQuartileBottomQuartile

1-month

-0.34%

0.72%

-1.61%

3-months

-0.80%

0.36%

-261%

6-months

-1.34%

0.46%

-4.49%

YTD

-2.16%

-0.35%

-6.90%

2-yr

-293%

-0.59%

-8.30%

3-yr

-3.06%

-0.52%

-7.04%

4-yr*

-2.51%

-0.47%

-6.27%

5-yr*

-2.59%

-0.47%

-6.73%

Source:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg,BenchmarkIndices*relativeannualizedreturn

BofAGLOBALRESEARCH

GlobalFundPerformanceMonitor|05November20265

BofAGLOBALRESEARCH

6GlobalFundPerformanceMonitor|05November2026

FundsbyRegion:GLOBAL(DevelopedMarkets)

Chart7:RelativereturnsofGlobalDMfunds-Last12months

Global(DM)fundshaveunderperformedby-0.37%lastmonth

RelativeReturn

SZ-NON

Dec25

Jan-26

Feb-26

Mar-26

Apr-26

May-26

97-un(

9Z-das

9Z-PO

2.0%

1.5%

1.0%

0.5%

0.0%

-0.5%

-10%

-1.5%

-2.0%

-2.5%

D

A

do

62u

□MedianRelativeReturn●TopQuartile●BottomQuartileSource:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg,Benchmarklndices

BofAGLOBALRESEARCH

Chart8:RelativereturnsofGlobalDMfunds:Periodicreturns

Global(DM)haveoutperformedby0.02%inthelast6-months

RelatveReturn

2.0%1.0%0.0%-1.0%-2.0%-3.0%-40%-5.0%

1-month3-months6-months2-y²

□MedianRelativeReturn●TopQuartileOBottomQuartile

Source:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg,Benchmarklndices*relativeannualzedreturn

BofAGLOBALRESEARCH

Table2:RelativereturnsofGlobalDMfunds:Periodicreturns

Median,TopandBottomQuartilereturnsforvariousperiods

PeriodMedianRelativeReturnTopQuartileBottomQuartile

1-month

-0.37%

0.69%

-1.08%

3-months

-0.21%

0.63%

-1.38%

6-months

0.02%

1.22%

-1.01%

YTD

-0.94%

0.20%

-3.74%

2-yr

-0.99%

-0.22%

-4.41%

3-yr*

-1.08%

-0.31%

-4.54%

4-yr*

-0.97%

-0.28%

-3.64%

5-yr

-1.04%

-036%

-4.08%

Source:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg,BenchmarkIndices*relativeannualizedreturn

BofAGLOBALRESEARCH

BofAGLOBALRESEARCH

BofAGLOBALRESEARCH

GlobalFundPerformanceMonitor|05November20267

FundsbyRegion:EAFE(DMex-US)

Chart9:RelativereturnsofEAFEfunds-Last12months

2.5%2.0%1.5%

1.0%

0.5%0.0%-0.5%

-10%

-1.5%-20%-2.5%

□MedianRelativeReturn

EAFEfundshaveoutperformedby0.17%lastmonth

RelatveReturn

Nov-25

Dec-25

an-26

Feb-26

Mar-26

Apr-26

May-26

un-26

Ju-26

Aug-26

Sep-26

t-26

BottomQuartile

●TopQuartile

Source:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg.BenchmarkIndices

BofAGLOBALRESEARCH

Chart10:RelativereturnsofEAFEfunds:Periodicreturns

EAFEhaveoutperformedby0.17%inthelast1-month

RelatveReturn

1.0%

0.5%0.0%-05%

-1.0%-15%-2.0%

-25%

-3.0%

2-y3-yr4-y

□MedanRelativeReturm●TopQuartileOBottomQuartile

Source:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg.Benchmarklndices*relativeannualizedreturn

BofAGLOBALRESEARCH

Table3:RelativereturnsofEAFEfunds:Periodicreturns

Median,TopandBottomQuartilereturnsforvariousperiods

PeriodMedianRelativeReturnTopQuartileBottomQuartile

1-month

0.17%

0.54%

-0.35%

3-months

-0.23%

0.24%

-0.76%

6-months

-0.89%

0.52%

-1.40%

YTD

-0.73%

0.25%

-1.93%

2-yr

-0.89%

0.30%

-277%

3-yr

-1.02%

-012%

-2.21%

4-yr*

-0.79%

-0.13%

-217%

5-yr*

-0.69%

0.21%

-1.98%

Source:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg,BenchmarkIndices*relativeannualizedreturn

8GlobalFundPerformanceMonitor|05November2026

FundsbyRegion:USA

Chart11:RelativereturnsofUSAfunds-Last12months

USAfundshaveunderperfomedby-0.02%lastmonth

RelativeReturn

SZ-NON

Dec25

Jan-26

Feb-26

Mar-26

97-un(

9Z-D

9Z-das

9Z-PO

2.0%

1.5%

1.0%

0.5%

0.0%

-0.5%

-1.0%

-1.5%

-2.0%

-2.5%

D

A

do

□MedianRelativeReturn●TopQuartile●BottomQuartileSource:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg.BenchmarkIndices

BofAGLOBALRESEARCH

Chart12:RelativereturnsofUSAfunds:Periodicreturns

USAhaveunderperformedby-0.02%inthelast1-month

2.0%

1.0%0.0%

-10%

RelativeReturn

-2.0%-3.0%-40%

1-month3-months6-months

□MedianReativeReturn●TopQuartileOBottomQuartile

Source:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg.Benchmaklndices*relativeannualizedreturn

BofAGLOBALRESEARCH

Table4:RelativereturnsofUSAfunds:Periodicreturns

Median,TopandBottomQuartilereturnsforvariousperiods

PeriodMedianRelativeReturnTopQuartileBottomQuartile

1-month

-0.02%

1.17%

-0.53%

3-months

-0.07%

0.68%

-0.98%

6-months

-0.07%

1.10%

-1.36%

YTD

-0.43%

0.32%

-292%

2-yr

-0.64%

-0.06%

-3.49%

3-yr*

-0.64%

-0.03%

-3.46%

4-yr*

-0.51%

-0.04%

-274%

5-yr

-0.51%

-0.05%

-241%

Source:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg,BenchmarkIndices*relativeannualizedreturn

BofAGLOBALRESEARCH

BofAGLOBALRESEARCH

BofAGLOBALRESEARCH

GlobalFundPerformanceMonitor|05November20269

FundsbyRegion:EUROPE

Chart13:RelativereturnsofEUROPEfunds-Last12months

Europefundshaveunderperformedby-0.13%lastmonth

RelativeReturn

SZ-NON

Dec25

Jan-26

Feb-26

Mar-26

Apr-26

u-26

Aug-26

97-un(

9Z-das

9Z-PO

1.0%

0.5%

0.0%

-0.5%

-1.0%

-1.5%

-2.0%

BottomQuartile

□Median

●TopQuartile

Relative

Return

Source:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg.BenchmarkIndices

BofAGLOBALRESEARCH

Chart14:RelativereturnsofEUROPEfunds:Periodicretums

Europehaveunderperformedby-0.05%inthelast3-months

2.0%1.0%

RelativeReturn

0.0%

-10%

-20%-3.0%-40%-5.0%

2-y

1-month3-months6-months

□MedianRelativeReturnOTopQuartileOBottomQuartile

Source:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg.BenchmarkIndices*rebativeannualizedreturn

BofAGLOBALRESEARCH

Table5:RelativereturnsofEUROPEfunds:Periodicreturns

Median,TopandBottomQuartilereturnsforvariousperiods

PeriodMedianRelativeReturnTopQuartileBottomQuartile

1-month

-0.13%

0.36%

-0.79%

3-months

-0.05%

0.71%

-0.74%

6-months

-0.17%

0.95%

-0.91%

YTD

-0.63%

0.00%

-258%

2-yr

-1.12%

-0.26%

-4.58%

3-yr

-0.96%

-034%

-3.32%

4yr

-0.89%

-032%

-3.13%

5-yr*

-0.97%

-0.36%

-3.69%

Source:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg,BenchmarkIndices*relativeannualizedreturn

BofAGLOBALRESEARCH

10GlobalFundPerformanceMonitor|05November2026

FundsbyRegion:JAPAN

Chart15:RelativereturnsofJAPANfunds-Last12months

Japanfundshaveunderperformedby-0.31%lastmonth

RelativeReturn

SZ-NON

Dec25

Jan-26

Feb-26

Mar-26

May-26

un-26

9Z-D

9Z-8ny

Se-26

t-26

20%

1.5%

1.0%

0.5%

00%

-0.5%

-1.0%

-1.5%

-2.0%

-2.5%

□MedianRelativeReturn●TopQuartileOBottomQuartileSource:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg.BenchmarkIndices

BofAGLOBALRESEARCH

Chart16:RelativereturnsofJAPANfunds:Periodicretums

Japanhaveunderperformedby-0.20%inthelast2-yr*

1.5%10.%

RelatveReturn

0.5%0.0%-0.5%-1.0%

-1.5%-20%-25%-3.0%

3-months6-months

1-month

□MedianRelativeRetumTopQuartileOBottomQuartile

Source:BofAGlobalQuantitativeStrategy,FacSet,BloombergBenchmarkIndices*relativeannualizedreturn

BofAGLOBALRESEARCH

Table6:RelativereturnsofJAPANfunds:Periodicreturns

Median,TopandBottomQuartilereturnsforvariousperiods

PeriodMedianRelativeReturnTopQuartileBottomQuartile

1-month

-0.31%

0.15%

-1.05%

3-months

-0.30%

0.01%

-1.02%

6-months

-0.30%

0.20%

-1.50%

YTD

-0.78%

0.07%

-274%

2-yr

-0.20%

0.61%

-0.80%

3-yr*

-0.33%

0.97%

-1.50%

4-yr*

-040%

0.04%

-1.27%

5-yr

-0.45%

0.04%

-1.42%

Source:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg,BenchmarkIndices*relativeannualizedreturn

BofAGLOBALRESEARCH

BofAGLOBALRESEARCH

FundsbyRegion:ASIAPACex-JAPAN

Chart17:RelativereturnsofASIAPACex-JAPANfunds-Last12months

APxJfundshaveunderperformedby-0.30%lastmonth

RelativeReturn

Dec-25

SZ-NON

an-26

Feb-26

Mar-26

26

May-26

97-un(

26

t-26

Sep-

20%

1.5%

1.0%

05%

Q0%

-0.5%

-1.0%

-1.5%

-20%

-2.5%

-3.0%

62-gnA

621u

Apr-

□MedianRelativeReturn●TopQuartileBottomQuartileSource:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg.BenchmarkIndices

BofAGLOBALRESEARCH

Chart18:RelativereturnsofASIAPACex-JAPANfunds:PeriodicreturnsAPxJhaveunderperformedby-0.17%inthelast3-months

RelativeReturn

2.0%

10.%

0.0%

-1.0%-20%-3.0%

-40%

YID2-y

□MedanRelativeRetum●TopQuartileOBottomQuartile

Source:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg.Benchmarklndices*relativeannualizedreturn

BofAGLOBALRESEARCH

Table7:RelativereturnsofASIAPACex-JAPANfunds:Periodicreturns

Median,TopandBottomQuartilereturnsforvariousperiods

PeriodMedianRelativeReturnTopQuartileBottomQuartile

1-month

-0.30%

0.33%

-1.35%

3-months

-0.17%

0.49%

-1.38%

6-months

-0.63%

0.37%

-249%

YTD

-0.43%

0.93%

-204%

2-yr*

-0.54%

0.23%

-219%

3-yr

-0.95%

-0.01%

-3.44%

4-yr*

-1.03%

-0.11%

-3.76%

5-yr*

-0.81%

-0.07%

-3.63%

Source:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg,BenchmarkIndices*relativeannualizedreturn

BofAGLOBALRESEARCH

GlobalFundPerformanceMonitor|05November202611

BofAGLOBALRESEARCH

12GlobalFundPerformanceMonitor|05November2026

FundsbyRegion:EMERGINGMARKETS

Chart19:RelativereturnsofEMERGINGMARKETSfunds-Last12months

EMfundshaveunderperformedby-0.55%lastmonth

RelativeReturn

SZ-NON

Dec25

Jan-26

Feb-26

Mar-26

Apr-26

9Z-KeW

un-26

9Z-D

9Z-das

9Z-8ny

t-26

40%

30%

20%

1.0%

00%

-1.0%

-20%

-30%

-40.%

□MedianRelativeReturn●TopQuartileOBottomQuartileSource:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg.BenchmarkIndices

BofAGLOBALRESEARCH

Chart20:RelativereturnsofEMERGINGMARKETSfunds:Periodicreturns

EMhaveunderperformedby-0.03%inthelast3-months

RelativeReturn

3.0%2.0%10.%

0.0%-1.0%-20%-30%

-4.0%

1-month3-months6-months

□MedianRelativeRetumTopQuartileOBottomQuartile

Source:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg,Benchmarklndices*relativeannualzedreturn

BofAGLOBALRESEARCH

Table8:RelativereturnsofEMERGINGMARKETSfunds:Periodicretums

Median,TopandBottomQuartilereturnsforvariousperiods

PeriodMedianRelativeReturnTopQuartileBottomQuartile

1-month

-0.55%

0.14%

-1.46%

3-months

-0.03%

1.01%

-1.74%

6-months

-1.45%

0.87%

-3.22%

YTD

-0.08%

217%

-2.39%

2-yr

-0.43%

1.94%

-1.85%

3-yr*

-0.72%

1.09%

-260%

4-yr*

-0.74%

1.31%

-1.96%

5-yr

-0.82%

0.76%

-2.72%

Source:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg,BenchmarkIndices*relativeannualizedreturn

BofAGLOBALRESEARCH

BofAGLOBALRESEARCH

FundsbyInvestmentStyle

Chart21:RelativereturnsofFundsbyInvestmentStyle:Lastmonth

Bestfundgroupbasedonmedian1-mreturnswasYield

RelativeReturn

5.00%

4.00%

3.00%

2.00%

1.00%

0.00%

-1.00%

-200%

-300%

GARPGrowthValueYield

□MedianRelativeRetunBottomQuartile

Source:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg.BenchmarkIndices

BofAGLOBALRESEARCH

Chart22:RelativereturnsofFundsbyInvestmentStyle:Periodicreturns

Yieldfundshaveperformedbestinthelast6m

RelativeReturn

1.00%0.50%0.00%

-0.50%

-100%-1.50%-200%

-2.50%

-3.00%

GARPGrowthIndexValueYield

□3-months■6-months

Source:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg.Benchmarklndices

BofAGLOBALRESEARCH

Chart23:PercentageofFundsbyInvestmentStyle

Growthfundsconstitutes42%ofthisfundgroup

■Growth(1099,55,282bn)

BIndex(975,514,754bn)BValue(234,$1,116bn)

□GARP(180,5498bn)

□Yield(144,5429bn)

Source:BofAGlobalQuantitativeStrategy,FactSet,Bloomberg,Benchmarklndices

BofAGLOBALRESEARCH

GlobalFundPerformanceMonitor|05November202613

BofAGLOBALRESEARCH