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If investors are looking at the Mutual Fund Bond fund category, Colorado Bond Shares Tax-Exempt A (HICOX - Free Report) could be a potential option. HICOX possesses a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on nine forecasting factors like size, cost, and past performance.
History of Fund/Manager
Freedom Funds is based in Denver, CO, and is the manager of HICOX. Colorado Bond Shares Tax-Exempt A made its debut in June of 1987, and since then, HICOX has accumulated about $1.77 billion in assets, per the most up-to-date date available. The fund is currently managed by Fred R. Kelly Jr. who has been in charge of the fund since November of 1990.
Performance
Investors naturally seek funds with strong performance. This fund has delivered a 5-year annualized total return of 2.81%, and is in the top third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 1.24%, which places it in the top third during this time-frame.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. The standard deviation of HICOX over the past three years is 4.52% compared to the category average of 4.09%. The fund's standard deviation over the past 5 years is 3.59% compared to the category average of 3.42%. This makes the fund more volatile than its peers over the past half-decade.
Expenses
For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, HICOX is a load fund. It has an expense ratio of 0.55% compared to the category average of 0.79%. So, HICOX is actually cheaper than its peers from a cost perspective.
This fund requires a minimum initial investment of $500, while there is no minimum for each subsequent investment.
Bottom Line
Overall, Colorado Bond Shares Tax-Exempt A ( HICOX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, Colorado Bond Shares Tax-Exempt A ( HICOX ) looks like a good potential choice for investors right now.
Don't stop here for your research on Mutual Fund Bond funds. We also have plenty more on our site in order to help you find the best possible fund for your portfolio. Make sure to check out www.zacks.com/funds/mutual-funds for more information about the world of funds, and feel free to compare HICOX to its peers as well for additional information. If you are more of a stock investor, make sure to also check out our Zacks Rank, and our full suite of tools we have available for novice and professional investors alike.
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Is HICOX a Strong Bond Fund Right Now?
If investors are looking at the Mutual Fund Bond fund category, Colorado Bond Shares Tax-Exempt A (HICOX - Free Report) could be a potential option. HICOX possesses a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on nine forecasting factors like size, cost, and past performance.
History of Fund/Manager
Freedom Funds is based in Denver, CO, and is the manager of HICOX. Colorado Bond Shares Tax-Exempt A made its debut in June of 1987, and since then, HICOX has accumulated about $1.77 billion in assets, per the most up-to-date date available. The fund is currently managed by Fred R. Kelly Jr. who has been in charge of the fund since November of 1990.
Performance
Investors naturally seek funds with strong performance. This fund has delivered a 5-year annualized total return of 2.81%, and is in the top third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 1.24%, which places it in the top third during this time-frame.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. The standard deviation of HICOX over the past three years is 4.52% compared to the category average of 4.09%. The fund's standard deviation over the past 5 years is 3.59% compared to the category average of 3.42%. This makes the fund more volatile than its peers over the past half-decade.
Expenses
For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, HICOX is a load fund. It has an expense ratio of 0.55% compared to the category average of 0.79%. So, HICOX is actually cheaper than its peers from a cost perspective.
This fund requires a minimum initial investment of $500, while there is no minimum for each subsequent investment.
Bottom Line
Overall, Colorado Bond Shares Tax-Exempt A ( HICOX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, Colorado Bond Shares Tax-Exempt A ( HICOX ) looks like a good potential choice for investors right now.
Don't stop here for your research on Mutual Fund Bond funds. We also have plenty more on our site in order to help you find the best possible fund for your portfolio. Make sure to check out www.zacks.com/funds/mutual-funds for more information about the world of funds, and feel free to compare HICOX to its peers as well for additional information. If you are more of a stock investor, make sure to also check out our Zacks Rank, and our full suite of tools we have available for novice and professional investors alike.