From Morningstar:

In February, China funds turned around their performance, becoming the best performers after struggling for months. Gold and precious metals funds dragged at the bottom due to investors favoring equities amid record market highs in the US and Europe. Only a quarter of UK-rated funds had a negative February.

Despite starting the year poorly, China funds saw gains in February due to government stimulus packages. Fairview Investing notes that Chinese equities remain low against broader equities. Market highs were hit in February, such as the Nikkei after 34 years. The S&P 500 has already reached 14 all-time highs in 2024.

The best performing fund in February was Matthews China Small Companies, gaining 14% to offset January losses. Four China funds remain down for the year. US large-cap fund GQG Partners US Equity was the second-best performer in February. Nikko AM ARK Disruptive Innovation returned to the top 10 list after Nasdaq highs.

Gold and precious metals funds struggled in February, with the gold price steady but not benefiting funds with gold stocks. The worst performer was ES Baker Steel Gold & Precious Metals, down 11%. Property funds in Europe also faltered, possibly due to a change in interest rate outlook. Physical property funds have been struggling for years.



Read more at Morningstar: The Best and Worst Performing Funds in February