In The Doghouse – 2021

Here is our 2021 list of funds with estimated distributions in excess of 20% of NAV.  We have a good jump on 2021 numbers; it’s clear this list will be very big for this year.  


Funds with estimated distributions higher than 30% of NAV:

AMG Frontier Small Cap Growth Fund
AMG TimesSquare Emerging Markets Small Cap Fund
BNY Mellon Small/Mid Cap Multi-Strategy (big)
Columbia Adaptive Retirement 2020
Franklin U.S. Large Cap Equity
Harbor Disruptive Innovation
JP Morgan Small Cap Sustainable Leaders Fund
Victory Munder Mid-Cap Core Growth Fund
Victory NewBridge Large Cap Growth Fund
Victory RS Small Cap Equity Fund
Virtus AllianzGI Emerging Markets Consumer Fund (huge!)
Wells Fargo Low Volatility U.S. Equity Fund
Wells Fargo Small Company Growth Fund

Funds with estimated distributions higher than 20%:

AllianceBernstein Select US Equity Portfolio
American Century Disciplined Core Value Fund
American Century Equity Growth Fund
AMG Montrusco Bolton Large Cap Growth
AMG TimesSquare Mid Cap Growth
BlueBay Destra International Event-Driven Credit
Columbia Acorn USA
Columbia Large Cap Growth Opportunity
DoubleLine Shiller Enhanced CAPE
DWS Equity Sector Strategy
Federated Hermes MDT Mid-Cap Growth Fund
Federated Hermes MDT Small Cap Growth Fund
Franklin LifeSmart 2050 Retirement Target
Franklin LifeSmart 2040 Retirement Target
JP Morgan U.S. Applied Data Science Value Fund
JP Morgan U.S. Large Cap Core Plus Fund
JP Morgan U.S. Small Company Fund
John Hancock Small Cap Growth Fund
Lazard International Small Cap Equity
Lord Abbett Durable Growth
Lord Abbett Focused Large Cap Value
Lord Abbett Growth Leaders
Madison Small Cap Fund
Marsico Growth
MFS New Discovery
Nuveen Mid Cap Growth Opportunities
PGIM Jennison Mid-Cap Growth
PGIM Jennison Small Company
Pioneer Disciplined Growth
Principal Edge Midcap
Principal Midcap Growth
Principal Small-MidCap Growth
Putnam Dynamic Risk Allocation
Putnam Focused International Equity
Royce Pennsylvania Mutual 
Royce Smaller-Companies Growth 
Royce Total Return 
Russell U.S. Small Cap Equity
T Rowe Price Science and Technology
The New Germany Fund
USAA Global Managed Volatility Fund
USAA Target Managed Allocation Fund
USAA Small Cap Stock Fund
Victory RS Mid Cap Growth Fund
Victory RS Select Growth Fund
Virtus AllianzGI Global Small-Cap
Virtus AllianzGI Technology Fund
Voya Small Company Fund
Voya U.S. High Dividend Low Volatility Fund
Wells Fargo Discovery Fund
Wells Fargo Diversified Equity Fund
Wells Fargo Emerging Growth Fund
Wells Fargo Large Company Value Fund
Wells Fargo Small Cap Fund
Wells Fargo Specialized Technology Fund

 

 

NOTE: Funds on this list do not necessarily represent all share classes. Always look at your specific fund before making any decisions.

 

 

 

 

 

Image by dillondygert from Pixabay

In The Doghouse – 2020

Here is our 2020 list of funds with estimated distributions in excess of 20% of NAV.  At this point, we expect this list to be pretty complete for this year.

Funds with estimated distributions higher than 30% of NAV:

Baillie Gifford International Concentrated Growth Equities (huge!)
BMO Mid-Cap Growth (huge!)
Boston Partners Long/Short Equity
Lord Abbett Micro Cap Growth
Monetta Core Growth
RiverPark/Wedgewood Fund

Funds with estimated distributions higher than 20%:

AMG Managers Brandywine Blue
Bridgeway Blue Chip Fund
Calamos Growth
ClearBridge Aggressive Growth
Delaware Select Growth (surprise distribution in October)
Federated Hermes Max-Cap Index
Gabelli Small Cap Growth
Harbor Emerging Markets Equity
Hennessy Focus
JP Morgan U.S. Large Cap Core Plus
PGIM Jennison Mid-Cap Growth
PGIM QMA Stock Index
PIMCO Long-Term Real Return
RBC Small Cap Core
T. Rowe Price Real Estate
Templeton China World 
Value Line Select Growth
Victory RS Select Growth
Victory RS Small Cap Equity 
Voya Corporate Leaders 100
Wells Fargo Emerging Growth

 

 

NOTE: Funds on this list do not necessarily represent all share classes. Always look at your specific fund before making any decisions.

 

 

 

 

 

Image by dillondygert from Pixabay

In The Doghouse – 2019

Here is our 2019 list of funds with estimated distributions in excess of 20% of NAV.  This list is complete for 2019.

It’s important to note that funds on this list are not necessarily poor quality, but these funds are worth a second look if you hold them in taxable accounts. Think twice before purchasing these in a taxable account before their distribution dates.

Funds with estimated distributions higher than 30% of NAV:

Catalyst Growth of Income (more than 50% estimated!)
Meridian Enhanced Equity
RiverPark/Wedgewood (more than 50% estimated!)
Victory Munder Mid-Cap Core Growth
USAA World Growth

Funds with estimated distributions higher than 20%:

AMG Managers Special Equity
Frost Mid Cap Equity
Goldman Sachs Growth Opportunities
Gotham Enhanced Return
Harbor Mid Cap Growth
Invesco India ETF
Invesco Mid Cap Growth
Invesco Oppenheimer Capital Appreciation
Invesco Oppenheimer Value
iShares Currency Hedged MSCI South Korea ETF
PNC Small Cap
TCW Relative Value Large Cap Fund
USAA Growth 
USAA Growth & Income 
USAA Science & Technology 
USAA Value 
Victory NewBridge Large Cap Growth 
Wells Fargo Index

 

 

 

NOTE: Funds on this list do not necessarily represent all share classes. Always look at your specific fund before making any decisions.

In The Doghouse – 2018

Here is our 2018 list of funds with estimated distributions in excess of 20% of NAV.  Just over 80% of the firms in my database have released their distribution estimates, so this list is almost complete.

It’s important to note that funds on this list are not necessarily poor quality, but these funds are worth a second look if you hold them in taxable accounts. Think twice before purchasing these in a taxable account before their distribution dates.

NOTE: Funds on this list do not necessarily represent all share classes. Always look at your specific fund before making any decisions.


Funds with estimated distributions higher than 30% of NAV:

Artisan International Small Cap
Columbia Multi-Manager Directional Alternative Strategies
Goldman Sachs Rising Dividend Growth
Goldman Sachs Strategic Growth
Harbor International (over 40%)
Loomis Sayles Small/Mid Cap Growth
Nationwide Diamond Hill Large Cap Concentrated (over 50%)
Nationwide WCM Focused Small Cap (over 40%)
Nationwide Dynamic U.S Growth
Neuberger Berman Greater China Equity
Pioneer Real Estate Shares
Principal Capital Appreciation
Principal LargeCap Growth (over 40%)
RiverPark Wedgewood (over 40%)
Transamerica Growth (big numbers, wide range)
Transamerica Mid Cap Growth (big numbers, wide range)
Victory Institutional Diversified Stock (over 60%)
Wells Fargo Disciplined Small Cap (over 40%)
Westwood Low Volatility Equity

Funds with estimated distributions higher than 20%:

Aberdeen Realty Income and Growth
AMG Frontier Small Cap Growth
Artisan Mid Cap
AllianzGI Micro Cap
AllianzGI Ultra Micro Cap
BMO Mid-Cap Growth
Buffalo Growth
Buffalo Small Cap
Calamos Global Equity
Delaware Select Growth
Delaware Small Cap Growth
Federated Max-Cap Index
Frost Mid Cap Equity
Goldman Sachs Capital Growth
Goldman Sachs Growth Opportunities
Goldman Sachs Technology Opportunities
Hancock Horizon Burkenroad Small Cap
Harbor Small Cap Growth
Hartford Small Cap Core
Hennessy Cornerstone Mid Cap 30
Invesco Global Market Neutral
John Hancock Technical Opportunities
J.P. Morgan Small Cap Blend
Kinetics Internet
Manning & Napier Disciplined Value
MSIFT Mid Cap Growth
Nationwide Geneva Mid Cap Growth
Nationwide Small Cap Index
Osterweis Fund
PGIM Jennison Mid-Cap Growth
PIMCO RAE Low Volatility PLUS International
Putnam Sustainable Future
RiverFront Asset Allocation Aggressive
RiverNorth Core Opportunity
Royce Smaller-Companies Growth
Royce Special Equity Multi-Cap
Russell U.S. Dynamic Equity
State Farm Equity
State Farm LifePath 2040
State Farm LifePath 2050
State Farm Equity & Bond
T. Rowe Price Science & Technology
Victory NewBridge Large Cap Growth
Voya Real Estate
Wasatch Micro Cap
Wasatch Small Cap Growth
Wells Fargo Traditional Small Cap Growth
William Blair Growth
William Blair Small-Mid Cap Value
Yorktown Capital Income

 

 

 

 

In The Doghouse – 2017

Here is our 2017 list of funds with estimated distributions in excess of 20% of NAV.  About 85% of fund firms have released their distribution estimates, so this list is pretty complete at this point.

It’s important to note that funds on this list are not necessarily poor quality, but these funds are worth a second look if you hold them in taxable accounts. Think twice before purchasing these in a taxable account before their distribution dates.

NOTE: Funds on this list do not necessarily represent all share classes. Always look at your specific fund before making any decisions.


Funds with estimated distributions higher than 30% of NAV:

American Beacon Bridgeway Large Cap Growth II (over 40%)
BlackRock Advantage Large Cap Core
Eaton Vance Atlanta Capital Focused Growth
Harding Loevner Global Equity
Osterweis
Morgan Stanley Institutional Mid Cap Growth Portfolio (over 40%)
Morgan Stanley Small Company Growth Portfolio
Oak Ridge Small Cap Growth (over 40%)
Victory NewBridge Large Cap Growth

Funds with estimated distributions higher than 20%:

Aberdeen Equity Long-Short
AllianzGI Ultra Micro Cap
AMG FQ Long-Short Equity
AMG Frontier Small Cap Growth
BBH Core Select
BlackRock Advantage Global
Buffalo Small Cap
ClearBridge Small Cap Value
Columbia Acorn
Columbia Acorn USA
Dreyfus Sustainable US Equity
Glenmede U.S. Emerging Growth
Goldman Sachs Flexible Cap
Highland Premier Growth Equity
James Mid Cap
Manning & Napier Disciplined Value
Morgan Stanley Multi Cap Growth Trust
Neuberger Berman Genesis
PNC S&P 500 Index
Principal LargeCap Growth
Putnam Small Cap Value
Russell US Dynamic Equity
Russell US Large Cap Equity
TCW Select Equities
Transamerica Capital Growth
Transamerica Growth
UBS U.S. Small Cap Growth
Virtus Silvant Large-Cap Growth Stock
Wells Fargo Growth
Wells Fargo Premier Large Company Growth
William Blair Growth

 

 

 

 

In the Doghouse – 2016

Here is our current list of funds with estimated distributions in excess of 20% of NAV.  Almost 90% of the fund firms in our complete database have provided estimates, so this list is nearing completion. This is a much smaller list than we’ve had in previous years; this is good news!

It’s important to note that funds on this list are not necessarily poor quality, but these funds are worth a second look if you hold them. You should probably not purchase these in a taxable account before their distribution dates.  Of course, these distributions don’t matter you if these funds are held in a tax-deferred (IRAs, Roth IRAs, 401(k) plans, etc.) account.


Funds with estimated distributions higher than 30% of NAV:

Catalyst/Groesbeck Growth of Income Fund
Columbia Disciplined Small Core Fund
Delaware Smid Cap Growth Fund
Transamerica Small Cap Growth
Victory NewBridge Large Cap Growth Fund

Funds with estimated distributions higher than 20%:

AllianzGI US Small-Cap Growth Fund
ASTON Small Cap Fund
Buffalo Small Cap Fund
Columbia Acorn Fund
Columbia Acorn USA
Dreyfus/The Boston Company Small Cap Growth Fund
Fidelity Advisor® Value Strategies Fund
Highland Premier Growth Equity Fund
iShares Currency Hedged MSCI Italy ETF
iShares Edge MSCI Min Vol Asia ex Japan ETF
Morgan Stanley Institutional Fund Trust Mid Cap Growth
Salient Real Estate Fund
Transamerica Multi-Cap Growth
Vanguard Structured Broad Market Fund
Vanguard Structured Large-Cap Equity Fund

 

 
photo credit: Stewart Black Have You Ever Seen A Sadder Looking Dog? via photopin (license)

In The Doghouse! Largest Estimated/Actual Distributions of 2015.

Here is my current list of funds with estimated distributions in excess of 20% of NAV.  Over 90% of fund firms in my database have reported so this list is nearing completion, but do not count on this list to be exhaustive.  I apologize if some of the funds are miscategorized – do your own research.

It’s important to note that funds on this list are not necessarily poor quality; after all, to get here the fund had to have some gains somewhere along the way.  I’m recommending you review these funds if you hold them, and you should not purchase these in a taxable account before their distribution dates.  Of course, these distributions don’t matter you if these funds are held in a tax-deferred (IRAs, Roth IRAs, 401(k) plans, etc.) account.


Funds with estimated distributions higher than 30% of NAV:

Alger Small Cap Growth Institutional Fund
Alger SMid Cap Growth Fund
ALPS WMC Research Value Fund
Brown Capital Management Mid Company Fund
Buffalo Small Cap Fund
Columbia Acorn Fund
Columbia Small Cap Core Fund
Columbia Small Cap Growth Fund
Deutsche EAFE Equity Index Fund
Eaton Vance Tax-Managed Global Small-Cap Fund
Fairholme Fund
FPA U.S. Value Fund
GuideStone Aggressive Allocation Fund
Manning & Napier Equity Fund
Nuveen NWQ Large-Cap Value Fund
PIMCO Long-Term U.S. Government Fund
PowerShares China A-Share ETF
Ridgeworth Small Cap Growth Stock Fund
Wells Fargo Advantage Endeavor Select Fund
Westcore Growth Fund

Funds with estimated distributions higher than 20%:

Artisan Small Cap Value Fund
ASTON/Montag & Caldwell Growth Fund
ASTON/TAMRO Small Cap Fund
Calamos Growth Fund
Columbia Acorn Select
Columbia Acorn USA
Columbia Global Infrastructure Fund
Columbia Marsico Growth Fund
CRM All Cap Value Fund
CRM Mid Cap Value Fund
Dreyfus Appreciation Fund
Eaton Vance Global Small-Cap Fund
Federated MDT Mid-Cap Growth Strategies Fund
Forward Real Estate Fund
Frost Mid Cap Equity Fund
GuideStone Balanced Allocation Fund
GuideStone Growth Allocation Fund
GuideStone MyDestination 2045
Highland Dividend Equity Fund
iShares MSCI Malaysia ETF
Kinetics Internet Fund
LKCM Aquinas Small Cap Fund
Marsico Growth Fund
Northern Multi-Manager Small Cap Fund
Principal LargeCap Growth Fund II
Prudential Small-Cap Value Fund
Ridgeworth Small Cap Value Equity Fund
RS Small Cap Equity Fund
Sit Large Cap Growth Fund
TCW Growth Equities Fund
Templeton China World Fund
UBS PACE Small/Medium Co Growth Equity Fund
Victory NewBridge Large Cap Growth Fund
Wells Fargo Advantage Small Cap Value Fund
Wells Fargo Advantage Traditional Small Cap Growth Fund

 

 

 

In The Doghouse! Largest Estimated Distributions (2014).

I’ve found a number of funds with estimated distributions that are higher than 20% of NAV.  Distribution percentages can become even higher if the stock market drops or if a fund has substantial redemptions before its distribution.  Do not count on this list being exhaustive and I apologize if some of the funds are miscategorized.  Do your own research.

Being included on this list says nothing about the quality of the fund.  In an odd way, to be included here the fund had to have substantial gains somewhere along the way.  That said, these funds do warrant a review and should not be purchased in a taxable account before their distribution dates.  Of course, these numbers don’t matter you if these funds are held in a tax-deferred (IRAs, Roth IRAs, 401(k) plans, etc.) account.


Funds with estimated distributions higher than 30% of NAV:

Eaton Vance Large-Cap Value
Janus Forty
Nationwide HighMark Large Cap Growth
Neuberger Berman Large Cap Disciplined Growth (over 50%!)
Nuveen NWQ Large-Cap Value
Russell LifePoints 2040 Strategy
Russell LifePoints 2050 Strategy
Transamerica US Growth
Turner Emerging Growth
Turner Midcap Growth
Turner Small Cap Growth
Wells Fargo Small Cap Opportunities

Funds with estimated distributions higher than 20%:

AMG Managers Cadence Mid Cap
BlackRock Basic Value
BlackRock Capital Appreciation
BlackRock Small Cap Growth Equity
Bridgeway Ultra‐Small Company
Calamos Global Equity
ClearBridge Equity
ClearBridge Special Investment
Columbia Global Infrastructure
CRM Mid Cap Value
CRM Large Cap Opportunity
CRM All Cap Value
Dreyfus/The Boston Company Small Cap Growth
Eagle Smaller Company
Federated Emerging Markets Equity
Hartford Capital Appreciation
Hartford Growth Allocation
Hennessy Core Bond
Hennessy Japan Small Cap
James Advantage Micro Cap
Lazard US Small-Mid Cap Equity
LKCM Aquinas Growth Fund
Lord Abbett Small Cap Value
Natixis U.S. Equity Opportunities
Northern Income Equity
Nuveen Small Cap Select
Perkins Mid Cap Value
Perkins Small Cap Value
PIMCO International Fundamental IndexPLUS®
Principal MidCap Growth
Putnam Global Financials
Ridgeworth Select Large Cap Growth Stock
Royce Low Priced Stock
Russell LifePoints 2020 Strategy
Russell LifePoints 2030 Strategy
Russell LifePoints 2035 Strategy
Russell LifePoints 2045 Strategy
Russell LifePoints InRetirement
Sentinel Small Company
Sit Large Cap Growth
T Rowe Price Global Technology
Touchstone Large Cap Growth
UBS U.S. Small Cap Growth
Virtus AlphaSector Rotation
Virtus Disciplined Equity Style
Waddell & Reed Asset Strategy
Wasatch Large Cap Value
Wasatch Ultra Growth
Wells Fargo Capital Growth
Wells Fargo Small/Mid Cap Value
Westcore Growth
Westport Select Cap

 

 

 

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