1 For 21

1 For 21

MFI performance continues to lag.  Of the most recent 21 tracking portfolios (12 of which are in progress) only one has/is winning/won.  Wow, that is pretty bad.

3/28/2014	6.1%	12.3%
4/25/2014	8.6%	15.8%
5/30/2014	5.9%	11.7%
6/27/2014	2.5%	9.2%
7/25/2014	3.3%	8.7%
8/29/2014	-2.2%	1.0%
9/26/2014	-0.6%	-0.9%
10/31/2014	4.3%	4.4%
11/28/2014	-2.9%	2.9%
12/31/2014	-9.9%	-1.5%
1/30/2015	-5.5%	1.2%
2/27/2015	-15.3%	-4.2%
3/27/2015	-15.9%	-2.8%
4/24/2015	-16.6%	-5.4%
5/29/2015	-17.2%	-4.9%
6/26/2015	-12.0%	-5.0%
7/30/2015	-6.0%	-5.0%
8/28/2015	-1.3%	0.4%
9/25/2015	-0.9%	3.4%
10/30/2015	-7.3%	-3.4%
11/27/2015	-5.3%	-4.3%
Average	-4.2%	1.6%

Now, the only solace is that in the past, when we have seen this underperformance, we then get a bounce back.  So I will stay the course.  Just for yucks,  I have added a fourth column to the table showing dividend (>2.6% yield) performance by tracking month.

3/28/2014	6.1%	12.3%	22.2%
4/25/2014	8.6%	15.8%	22.6%
5/30/2014	5.9%	11.7%	12.0%
6/27/2014	2.5%	9.2%	11.7%
7/25/2014	3.3%	8.7%	7.8%
8/29/2014	-2.2%	1.0%	3.3%
9/26/2014	-0.6%	-0.9%	11.4%
10/31/2014	4.3%	4.4%	2.7%
11/28/2014	-2.9%	2.9%	-9.9%
12/31/2014	-9.9%	-1.5%	-15.6%
1/30/2015	-5.5%	1.2%	-10.1%
2/27/2015	-15.3%	-4.2%	-17.1%
3/27/2015	-15.9%	-2.8%	-15.9%
4/24/2015	-16.6%	-5.4%	-22.1%
5/29/2015	-17.2%	-4.9%	-18.8%
6/26/2015	-12.0%	-5.0%	-13.5%
7/30/2015	-6.0%	-5.0%	-13.5%
8/28/2015	-1.3%	0.4%	-2.4%
9/25/2015	-0.9%	3.4%	-5.6%
10/30/2015	-7.3%	-3.4%	-5.2%
11/27/2015	-5.3%	-4.3%	-6.2%
Average	-4.2%	1.6%	-3.0%

So the dividend portfolios are the far right column.  In total they have done better than MFI in total, but for the 12 open portfolios, it has been a struggle: down 12.4% on average (versus 9.4% for overall open portfolios).