Funds Squeak Out Small Gain in Q2: Lipper

(In the second quarter, the U.S. dollar weakened vs. the euro by nearly 4%, but improved vs. the yen by close to 2%. Gold prices dropped 1%, while oil gained a whopping 25%.)

As for U.S. diversified equity funds, which ticked up just 0.03% on average in Q2, small-cap growth funds outperformed the broader group with a 2% uptick. Large-cap growth funds rose 0.6%. Small-cap value funds, though, weakened 0.5%, and equity income funds fell 1%.

Year to date, U.S. diversified equity funds are up 2.53% as of June 30. They are being outpaced by world equity funds, which have improved 4.7% so far this year. Mixed-asset funds have a return of 1.3% for the first six months of 2015.

The quarterly fund performance was driven by average equity-fund gains of 1.3% in April, when the price of oil jumped 25%. In May, equity funds tacked on close to 0.6%; the S&P 500 hit a new high, but U.S. stocks remained range bound, according to Tom Roseen, head of research services for Lipper.