The bright spots are precious-metal funds and some bear/leveraged products.
Some of the worst-performing fund categories, Lipper says, are those focused on Europe. This fund group fell 11.6% from March 31 to June 24 and is down close to 11.5% year to date.
Large-cap growth funds have declined 8.2% in the second quarter; they're down 4.3% for the year.
Precious-metal funds, though, are up close to 12% for the quarter and nearly 13% for the year through June 24.
Income-focused funds dropped 1.7% in the second quarter, but are up 1.1% year to date.
In terms of some of the largest funds and their performance, the PIMCO Total Return Fund is up 2.1% in Q2 and about 5.2% for the first half.
On the down side, American Funds Growth is off 8.2% for the quarter and 4.4% for the year, while Dodge & Cox International Stock has declined 10.3% and 7% for these periods respectively.
The Fidelity Contrafund fell 4.6% from March 31 through June 24 and is down 1.1% for the first half of 2010, according to Lipper data.
On the plus side, funds like the iPath ETN S&P500 VIX, tracking volatility, rose 32% in the second quarter, while the Direxion Monthly Developed Market Bear 2X improved roughly 23%.
As for fixed income, bonds rated AAA are up 2.5% for the quarter and 4.9% for the year, while those with a BBB rating moved up 1.9% and 5.2% in the same periods.
High-current yield products are off 0.4% for Q2 but are up 4.2% for the first half of the year.
In the first quarter of 2010, U.S. diversified equity funds grew 5.55%, while world equity funds bumped up 1.7%. Mixed equity funds rose 2.43%, narrowly beating out world income funds at 2.36%.
