Mutual funds have been put to the test.
Over the last three years investors saw their balances nose-dive, then edge back toward prior heights. But few investors have fully recovered.
On the bright side, all that drama should make it relatively easy to perform an annual portfolio checkup, to decide which funds to keep and which to cast out.
How a fund performed through meltdown and recovery are good indicators of how it will fare from here, whether the current rally has legs or not.