Global Fund Performance Monitor: Standout month

Research evidence excerpt

Global Fund Performance Monitor: Standout month

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Global Fund Performance Monitor

Standout month

One of the best months on record for Active funds 03 July 2026

June was one of the best months on record for Active funds globally with 64% Quant Strategy

outperforming their respective benchmarks by a median relative return of +0.51%. By Global

style, 65% of Value funds outperformed (median +0.79%), 64% of Growth funds

outperformed (median +0.52%), and 58% of Yield funds outperformed (median +0.22%).

High Active Share Ratio (80-100) funds have had a tough year, but 63% of these funds

outperformed benchmark (median +0.78%) during the month. While US funds matched

benchmark performance in June, 60% of Global (DM+EM) funds outperformed (+0.26%),

suggesting non-US exposures provided the most alpha opportunities.

>>Value funds’ largest active stock exposures NigelQuant TupperStrategist

Value funds’ largest overweight positions are SK Square, Icon, Veolia, Samsung Merrill Lynch (Australia)

Electronics, Capital One, Charles Schwab, and CATL. Value funds’ largest underweights +61nigel.tupper@bofa.com2 9226 5735

are NVIDIA, Apple, TSMC, Microsoft, Broadcom, Tesla, and Amazon. Amar Vashi >>

Quant Strategist

Global (DM + EM) funds’ largest active exposures Merrillamar.vashi@bofa.comLynch (Australia)

Global (DM +EM) funds’ largest overweight positions are TSMC, ASML, Visa, CATL, Sumuhan Shanmugalingam >>

Infineon, Thermo Fischer, and Alphabet. Global (DM +EM) funds’ largest underweight Quant Strategist

Merrill Lynch (Australia)

positions are Apple, NVIDIA, Tesla, Microsoft, Berkshire Hathaway, and Exxon Mobil. sumuhan.shanmugalingam@bofa.com

Chart 1: Proportion of Active Funds outperforming benchmark