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Investing is a tough gig. Sometimes, a strong performance doesn’t keep investors happy. In fact, sometimes they head for the exits.

We looked at all funds that had a 15% return or higher over the past 12 months and listed them by their cash outflows over that time, which averaged $4.7 billion. For comparison, the S&P 500 posted 12.5% over the same time.

There are a number of reasons investors may leave a good game, says Tom Roseen, head of research services at Lipper. They could be moving from active to passive as a cost-related strategy. Indeed, the average cost of these 20 funds is a relatively high 76 basis points and the same trends are not happening on the cheaper ETF side of the business, Roseen said. Domestic and international equity ETFs both have taken in assets of $69.1 billion and $92.1 billion, respectively.

Other possibilities: investors also could simply be taking some profits while markets are high; or changing their asset allocation scheme. Many advisors guiding baby boomers used a core-and-satellite strategy to create their portfolios and as the years rolled by, allocations to their large-cap core became disproportionately large in some cases. And now that they’re older, they’re becoming more conservative and moving assets to fixed-income funds and dividend payers.

Scroll through to see the biggest cash outflows from funds with more than a 15% annual gain. All data from Morningstar.
20. FMI Large Cap (FMIHX)
1-Yr. Flows (millions): ($2,567)
1-Yr. Return: 15.54%
Expense Ratio: 0.90%
Total Assets (millions): $6,252
19. Fidelity Series Growth Company (FFGSX)
1-Yr. Flows (millions): ($2,641)
1-Yr. Return: 29.19%
Expense Ratio: 0.58%
Total Assets (millions): $10,967
18. Franklin Mutual Global Discovery (MDISX)
1-Yr. Flows (millions): ($2,671)
1-Yr. Return: 18.43%
Expense Ratio: 0.98%
Total Assets (millions): $22,838
17. Davis NY Venture (NYVTX)
1-Yr. Flows (millions): ($2,844)
1-Yr. Return: 20.11%
Expense Ratio: 0.89%
Total Assets (millions): $11,032
16. Thornburg International Value (TGVAX)
1-Yr. Flows (millions): ($2,958)
1-Yr. Return: 20.74%
Expense Ratio: 1.28%
Total Assets (millions): $5,985
15. T. Rowe Price Equity Index 500 (PREIX)
1-Yr. Flows (millions): ($2,971)
1-Yr. Return: 15.77%
Expense Ratio: 0.26%
Total Assets (millions): $28,395
14. Strategic Advisers Core (FCSAX)
1-Yr. Flows (millions): ($3,041)
1-Yr. Return: 17.41%
Expense Ratio: 0.21%
Total Assets (millions): $23,701
13. BlackRock Equity Dividend Inv (MBDVX)
1-Yr. Flows (millions): ($3,231)
1-Yr. Return: 15.95%
Expense Ratio: 1.72%
Total Assets (millions): $21,052
12. Fidelity Diversified International (FDIVX)
1-Yr. Flows (millions): ($3,334)
1-Yr. Return: 16.77%
Expense Ratio: 1.05%
Total Assets (millions): $19,964
11. T. Rowe Price Equity Income (PRFDX)
1-Yr. Flows (millions): ($3,737)
1-Yr. Return: 16.07%
Expense Ratio: 0.66%
Total Assets (millions): $21,710
10. Dodge & Cox International Stock (DODFX)
1-Yr. Flows (millions): ($3,912)
1-Yr. Return: 27.72%
Expense Ratio: 0.64%
Total Assets (millions): $64,392
9. Strategic Advisers International (FILFX)
1-Yr. Flows (millions): ($4,098)
1-Yr. Return: 18.06%
Expense Ratio: 0.22%
Total Assets (millions): $17,189
8. American Funds Capital World Gr&Inc (CWGIX)
1-Yr. Flows (millions): ($4,205)
1-Yr. Return: 17.26%
Expense Ratio: 0.79%
Total Assets (millions): $91,275
7. Deutsche X-trackers MSCI EAFE Hedged (DBEF)
1-Yr. Flows (millions): ($4,278)
1-Yr. Return: 18.32%
Expense Ratio: 0.35%
Total Assets (millions): $7,149
6. T. Rowe Price Growth Stock (PRGFX)
1-Yr. Flows (millions): ($5,047)
1-Yr. Return: 25.70%
Expense Ratio: 0.68%
Total Assets (millions): $51,360
5. MainStay Large Cap Growth (MLAAX)
1-Yr. Flows (millions): ($5,286)
1-Yr. Return: 18.78%
Expense Ratio: 0.99%
Total Assets (millions): $11,829
4. American Funds Growth Fund of Amer (AGTHX)
1-Yr. Flows (millions): ($6,378)
1-Yr. Return: 20.30%
Expense Ratio: 0.66%
Total Assets (millions): $163,435
3. Fidelity Low-Priced Stock (FLPSX)
1-Yr. Flows (millions): ($7,259)
1-Yr. Return: 15.17%
Expense Ratio: 0.88%
Total Assets (millions): $38,221
2. Fidelity Growth Company (FDGRX)
1-Yr. Flows (millions): ($8,466)
1-Yr. Return: 28.75%
Expense Ratio: 0.77%
Total Assets (millions): $39,310
1. Fidelity Contrafund (FCNTX)
1-Yr. Flows (millions): ($14,048)
1-Yr. Return: 21.08%
Expense Ratio: 0.68%
Total Assets (millions): $116,093