However, the category, which represents about two-thirds of US fund assets, is still down 19.4% year-to-date, the worst performance since 1974.
Value funds continued to outpace growth strategies for the year, gaining 3.9% in October and up 3.1% in 2001. That performance is second only to gold funds, which are up 13.6%.
Small-cap growth stock funds were lifted by technology stocks, gaining 8% during the month. Large cap growth funds rose 4% during the month but are down nearly 30% year-to-date, while mid-cap growth funds gained 6.7% for the month, trimming their year-to-date losses to about 30%.
Science and technology funds jumped 16.6% but are still down an average 46.3% year to date.
Health and biotech funds cut their 2001 losses to 17.4%, thanks to a 5.4% increase during the month, while natural resources funds gained 8% in October, reducing year-to-date declines to 14.6%.
Sector funds rose 6.3% for the month, while world equity funds gained 3.4% on average, cutting year-to-date losses to 23.3%.