ii Super 60 performance review: Q1 2026
Discover how interactive investor’s rated funds performed in the three months to the end of March.
17th April 2026 08:52
Performance of the funds on the Super 60 ranged between +30.40% and -15.79% over the quarter. Key drivers of positive returns were exposure to the strongly performing gold and commodity markets plus value, utilities and Japan.
Particular weakness was seen from equities in India and China, while some quality-growth stocks continued to suffer.
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WisdomTree Enhanced Cmdty ETF - USD Acc GBP (LSE:WCOB)was the best performer on the list with a return of 30.40%. This exchange-traded fund (ETF) provides investors with exposure to four broad commodity sectors (energy, agriculture, industrial metals, and precious metals) plus up to 5% in bitcoin. The fund has a high exposure to the energy price, and the rise in prices as a consequence of the war in the Middle East boosted returns over the quarter.
As its name suggests, FTF ClearBridge Global Infrastructure Income WAcc invests in listed infrastructure companies and has an overall objective of generating an income in excess of inflation. Given the approach, it has significant exposure to the utilities sector, which performed particularly well over the quarter. The fund showed a return of 12.59%, much of which reflects the greater than 55% exposure to utilities.
iShares Pacific ex Jpn Eq Index (UK) D Acc is the next fund on the outperformers list, posting a return of 10.59%. The fund tracks the performance of the FTSE World Asia Pacific ex Japan Index, which has low exposure to India and China in favour of Taiwan and South Korea, all of which enhanced returns over the quarter.
Defensive positioning drove the returns of the final two funds in the top five outperformers list. GQG Partners Global Equity I GBP Acc showed a return of 9.62%. The fund is managed by the highly experienced Rajiv Jain who has a flexible approach, focused on medium-term, predictable growth. The manager is not afraid to back his conviction and make sizeable portfolio changes, and this has been the case recently, with a significant move to a defensive stance in 2025. That move hurt returns during last year but has been beneficial so far in 2026.
Despite some very recent weakness, gold produced good returns over the quarter as a whole and resulted in the iShares Physical Gold ETC GBP (LSE:SGLN) returning 9.20%. The ETF aims to track the gold spot price as valued by the London Bullion Market Association.
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GS India Equity I Inc GBP leads the bottom performers on the Super 60 with a loss of 15.79%. The team’s robust bottom-up research process helps them identify mispriced opportunities, especially among small- and mid-cap names, which account for roughly 40-50% of the portfolio. Despite the negative return, the fund outperformed its MSCI India IMI Index benchmark.
WS Gresham House UK Smaller Coms C Acc is the next fund on the underperformers list with a loss of 11.91%. The fund manager invests in growth companies with a focus on the £1.5 billion-£250 million market-cap range. There is also around 30% exposure to AIM-listed stocks which contributed to the weakness over the quarter. However, attribution versus the Morningstar UK Small Cap TME Index shows stock selection in financials and industrials as the main negatives. Despite the short-term weakness, the fund remains well ahead of the peer group average over the past five years.
Fundsmith Equity I Acc posted a negative return of 11.31% over the quarter. The manager’s stable-growth approach to investing in global equities has been out of favour for some time. Adherence to the quality growth style has meaningfully contributed to the returns seen over recent years which are generally in line with those of competitor funds operating similar processes. Over the longer term, the success of the strategy is clear to see with substantial outperformance of the MSCI ACWI.
The final two funds on the bottom five performers list both invest in Chinese equities. Fidelity China Special Situations Ord (LSE:FCSS) showed a share price return of -7.13% (net asset value (NAV) return -10.31%). The trust invests in undervalued companies that have good longer-term industry dynamics and competitive advantages. Dale Nicholls has managed it since April 2014 and benefits from an analyst team researching Asian equities that is over 50-strong with a significant presence in China. The fund saw underperformance in March, which resulted in returns below that of the MSCI China Index for the quarter as a whole. The HSBC MSCI China ETF GBP (LSE:HMCH) that tracks the mainstream index in China posted a loss of 6.72%.
Top five Super 60 funds in Q1 2026
| 3 months (%) | 1 year | 3 years | 5 years | |
| WisdomTree Enhanced Cmdty UCITS ETF USD GBP (LSE:WCOG) | 30.40 | 35.63 | 39.36 | 100.73 |
| FTF ClearBridge Global Infras Inc WAcc | 12.59 | 26.27 | 36.40 | 64.88 |
| iShares Pacific ex Jpn Eq Idx (UK) D Acc | 10.59 | 53.51 | 61.65 | 62.13 |
| GQG Partners Global Equity I GBP Acc | 9.62 | 3.24 | 42.41 | 69.98 |
| iShares Physical Gold ETC GBP (LSE:SGLN) | 9.20 | 44.61 | 117.95 | 181.59 |
Source: Morningstar - Total Return for OE/Market Return for CE - (GBP) to 31/03/2026. Past performance is not a guide to future performance.
Bottom five Super 60 funds in Q1 2025
| Group/Investment | 3 months (%) | 1 year | 3 years | 5 years |
| HSBC MSCI China ETF GBP (LSE:HMCH) | -6.72 | 2.02 | 12.96 | -19.80 |
| Fidelity China Special Situations Ord (LSE:FCSS) | -7.13 | 9.54 | 24.31 | -24.11 |
| Fundsmith Equity I Acc | -11.31 | -5.12 | 2.58 | 14.62 |
| WS Gresham House UK Smaller Coms C Acc | -11.91 | -4.56 | 4.90 | 0.24 |
| GS India Equity I Inc GBP | -15.79 | -14.84 | 18.04 | 34.80 |
Source: Morningstar - Total Return for OE/Market Return for CE - (GBP) to 31/03/2026. Past performance is not a guide to future performance.
Top five Super 60 funds for a five-year period
Group/Investment | 3 months (%) | 1 year | 3 years | 5 years |
9.20 | 44.61 | 117.95 | 181.59 | |
6.40 | 32.33 | 63.26 | 101.57 | |
5.22 | 30.97 | 66.53 | 101.09 | |
30.40 | 35.63 | 39.36 | 100.73 | |
1.85 | 24.17 | 58.24 | 84.54 |
Source: Morningstar - Total Return for OE/Market Return for CE - (GBP) to 31/03/2026. Past performance is not a guide to future performance.
Bottom five Super 60 funds for a five-year period
| Group/Investment | 3 months (%) | 1 year | 3 years | 5 years |
| WS Gresham House UK Smaller Coms C Acc | -11.91 | -4.56 | 4.90 | 0.24 |
| TR Property Ord (LSE:TRY) | -4.26 | 8.40 | 26.70 | -3.11 |
| HSBC MSCI China ETF GBP (LSE:HMCH) | -6.72 | 2.02 | 12.96 | -19.80 |
| Fidelity China Special Situations Ord (LSE:FCSS) | -7.13 | 9.54 | 24.31 | -24.11 |
| Vanguard UK Govt Bd Idx £ Dist | -2.08 | 2.28 | -0.73 | -24.12 |
Source: Morningstar - Total Return for OE/Market Return for CE - (GBP) to 31/03/2026. Past performance is not a guide to future performance.
Most-bought Super 60 funds in Q1 2026
| iShares Physical Gold ETC GBP (LSE:SGLN) |
| Vanguard LifeStrategy 80% Equity A Acc |
| Scottish Mortgage Ord (LSE:SMT) |
| Vanguard LifeStrategy 60% Equity A Acc |
| City of London Ord (LSE:CTY) |
Most-sold Super 60 funds in Q1 2026
| iShares Physical Gold ETC GBP (LSE:SGLN) |
| Fundsmith Equity I Acc |
| Scottish Mortgage Ord (LSE:SMT) |
| Vanguard LifeStrategy 80% Equity A Acc |
| Vanguard LifeStrategy 60% Equity A Acc |
Changes to the Super 60 list (under review/developments)
Super 60 videos in Q1
F&C
Scottish Mortgage
- Scottish Mortgage on SpaceX and running winners vs taking profits
- Scottish Mortgage on AI, new holdings, and its edge over trackers
JPMorgan Emerging Markets Growth & Income
The Super 60 investments list is selected and managed by our independent research partner Morningstar and reviewed by our in-house investment experts to help narrow down the wide choice of available investment products. We believe it represents a set of high-quality choices, across different asset classes, regions, and investment types.
However, you should note that the selection of Super 60 investments list is not a ‘personal recommendation’. This means we have not assessed your investment knowledge, your financial situation (including your ability to bear losses), your investment objectives, your risk tolerance, or your sustainability preferences.
You should ensure that any investment decisions you make are suitable for your personal circumstances, and if you are unsure about the suitability of a particular investment or think you need a personal recommendation, you should speak to a suitably qualified financial adviser.
The past performance of an investment is not a reliable indicator of future results, and ii does not guarantee or predict the future performance of the Super 60 investments list as a whole or the constituent investments.
Risk Warning(s)
The value of your investments may go down as well as up. You may not get back all the money that you invest.
Investing in emerging markets involves different risks from developed markets, in many cases the risks are greater.
The value of international investments is affected by currency fluctuations which might reduce their value in sterling.
Disclosure(s)
All funds listed are the Accumulation version of the fund, where available, where any income generated within the fund is reinvested automatically. Income versions of these funds may also be available for investors looking for income generated to be paid directly into their account.
Annual performance can be found on the factsheet of each fund, trust or ETF. Simply click on the asset’s name and then the performance tab.
Any changes to the Super 60 investments list and the rationale behind those decisions will be communicated through the Quarterly Investment Review.
Details of all Super 60 recommendations issued by ii during the previous 12-month period can be found here.
ii adheres to a strict code of conduct. Members of ii staff may have holdings in one or more Super 60 investments, which could create a conflict of interest. Any member of staff involved in the development of research about any financial instrument in which they have an interest are required to disclose such interest to ii. We will at all times consider whether such interest impairs the objectivity of the recommendation.
In addition, staff involved in the production of the Super 60 investments list are subject to a personal account dealing restriction. This prevents them from placing a transaction in the specified instrument(s) for five working days before and after an investment is included or amended and made public within the Super 60 investments list. This is to avoid personal interests conflicting with the interests of investors in the Super 60 investments.