The average score for SRI funds is trading at the best level we have seen in many years, as it is now averaging at a 3.50. The improvement is attributed to the improving relative strength picture of U.S. large-cap funds. The Ariel Fund Investor Class (ARGFX) is maintaining leadership versus the other choices in this socially responsible genre.

Keep in mind that this fund not only has maintained a positive trend of relative strength with a score of 5.90, but it also ranks in the top 96th percentile on a year to date basis versus all other funds. The Ave Maria Growth (AVEGX) continues to provide a great score of 5.27, making it one of the top relative strength funds in the socially responsible universe with a fund score well above the 5 level.

The next best score comes from the TIAA-CREF Social Choice fund (TISCX), which has moved up to the 4.83 score level and is tied in score with the Neuberger Berman SRI fund.  All of these funds provide the leadership you will need to bring strong performance to your allocation strategy.  

On the International scene, the best score comes from the Domini International Social Equity Fund Class (DOMAX) with a Fund Score of 4.44. While the score is down from last month, it remains the best international option today.  The DFA Emerging Markets Social Core Portfolio (DFESX) is now scoring above the 3 score threshold, making it a more respectable relative strength player than it was during the first half of the year.  The top sector funds with the best relative strength are the Calvert Global Water Fund (CFWAX) and the PowerShares Wilderhill Clean Energy (PBW). These two funds score well above the average sector fund and well above the score of the average equity fund. 

On the fixed-income frontier, the Ave Maria Bond Fund (AVEFX) maintains leadership in relative strength and remains the only Socially Responsible fixed income fund with a score above the 3 score level at a 3.49.  The next best fixed income fund in this universe is the Calvert Ultra-Short Income Fund (CULAX), which is trading with a score of 2.78.

 

Figures in the charts below are as of November 26, 2013.

 

High Strength, High Risk Fund Score > 3, Above average volatility

		Name	DWA Fund Score	DWA rRisk Score
	Equity Funds and ETFs
		Ariel Fund Investor Class (ARGFX)	5.90	1.64
		Ave Maria Growth Fund (AVEGX)	5.27	1.14
		TIAA-CREF Social Choice Equity Fund Instituti (TISCX)	4.83	1.04
		Neuberger Berman Socially Responsive Fund Inv (NBSRX)	4.83	1.09
		Calvert Global Water Fund Class A (CFWAX)	4.66	1.22
		PowerShares WilderHill Clean Energy(ETF): NYS - PBW	4.53	2.48
		Domini International Social Equity Fund Class (DOMAX)	4.44	1.40
		Calvert Capital Accumulation Fund Class A (CCAFX)	4.27	1.38
		Ave Maria Catholic Values Fund (AVEMX)	4.04	1.19
		Vanguard FTSE Social Index Fund Institutional (VFTNX)	3.90	1.05
		DFA U.S. Social Core Equity 2 (DFUEX)	3.83	1.24
		VALIC Company I Global Social Awareness Fund (VCSOX)	3.77	1.14
		VALIC Company II Socially Responsible Fund (VCSRX)	3.76	1.03
		Calvert Social Index Fund Class I (CISIX)	3.73	1.00
		Domini Social Equity Fund Investor Class (DSEFX)	3.73	1.08
		Global X Funds: NASDAQ - SOCL	3.47	1.94
		Calvert Equity Portfolio Class A (CSIEX)	3.47	1.05
		Calvert Small Cap Fund Class A (CCVAX)	3.45	1.32
		iShares MSCI USA ESG Select Scl Indx Fnd: NYS - KLD	3.23	1.01
		DFA CSTG&E International Social Core Equity P (DFCCX)	3.19	1.24
		Calvert International Equity Fund Class A (CWVGX)	3.14	1.25
		DFA Emerging Markets Social Core Portfolio (DFESX)	3.01	1.68

 

Low Strength, Low Risk Fund Score < 3, Below average volatility

		Name	DWA Fund Score	DWA rRisk Score
	Equity Funds and ETFs
		Calvert Balanced Portfolio Class A (CSIFX)	2.90	0.59
		Appleseed Fund (APPLX)	2.86	0.94
	Bond Funds
		Calvert Ultra-Short Income Fund Class A (CULAX)	2.78	0.05
		Calvert Short Duration Income Fund Class A (CSDAX)	2.72	0.16
		Calvert Income Fund Class A (CFICX)	2.31	0.30
		Domini Social Bond Fund Investor Class (DSBFX)	2.11	0.18
		Calvert Bond Portfolio Class A (CSIBX)	2.05	0.29
		Calvert Tax-Free Bond Fund Class A (CTTLX)	1.91	0.43
		Calvert Long-Term Income Fund Class A (CLDAX)	1.46	0.49

 

Low Strength, High Risk Fund Score < 3, Above average volatility

		Name	DWA Fund Score	DWA rRisk Score
	Equity Funds and ETFs
No funds in this category this month.

 

	DWA Fund Score:    The DWA Fund score ranks the technical strength on a scale of 0 through 6 using an equation based on price trending and relative strength.  Funds with scores above 3 are considered by Dorsey Wright to be “investment grade”.   Funds with scores close to 6 are “market dominant."
	`DWA rRisk Score:     The DWA rRisk score measures the risk of the group on a relative basis. The calculation uses the 3 year Standard Deviation average of the group or fund divided by the Standard Deviation of the Cap Weighted S&P 500 Equity Index. Ratios higher than 1 demonstrate higher risk than the market benchmark and ratios less than 1 demonstrate lower risk than the market benchmark.

Disclosures: The information contained herein has been prepared without regard to any particular investor’s investment objectives, financial situation, and needs.  Accordingly, investors should not act on any recommendation (express or implied) or information in this material without obtaining specific advice from their financial advisors and should not rely on information herein as the primary basis for their investment decisions.  Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources believed to be reliable (“information providers”).  However, such information has not been verified by Dorsey, Wright & Associates, LLC (DWA) or the information provider and DWA and the information providers make no representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein.  DWA and the information provider accept no liability to the recipient whatsoever whether in contract, in tort, for negligence, or otherwise for any direct, indirect, consequential, or special loss of any kind arising out of the use of this document or its contents or of the recipient relying on any such recommendation or information (except insofar as any statutory liability cannot be excluded).  Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.  Neither the information nor any opinion expressed shall constitute an offer to sell or a solicitation or an offer to buy any securities, commodities or exchange traded products.  This document does not purport to be complete description of the securities or commodities, markets or developments to which reference is made.


Past performance is not indicative of future results.  Potential for profits is accompanied by possibility of loss.    You should consider this strategy’s investment objectives, risks, charges and expenses before investing.  The examples and information presented do not take into consideration commissions, tax implications, or other transaction costs.


Each investor should carefully consider the investment objectives, risks and expenses of any Exchange-Traded Fund ("ETF") prior to investing. Before investing in an ETF investors should obtain and carefully read the relevant prospectus and documents the issuer has filed with the SEC. ETF's may result in the layering of fees as ETF's impose their own advisory and other fees. To obtain more complete information about the product the documents are publicly available for free via EDGAR on the SEC website (http://www.sec.gov).

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