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Is Hartford Small Company HLS IA (HIASX) a Strong Mutual Fund Pick Right Now?
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There are plenty of choices in the Mutual Fund Equity Report category, but where should you start your research? Well, one fund that might be worth investigating is Hartford Small Company HLS IA (HIASX - Free Report) . HIASX holds a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
Hartford is responsible for HIASX, and the company is based out of Woodbury, MN. Hartford Small Company HLS IA made its debut in December of 2001, and since then, HIASX has accumulated about $371.14 million in assets, per the most up-to-date date available. The fund is currently managed by Ranjit Ramachandran who has been in charge of the fund since February of 2020.
Performance
Of course, investors look for strong performance in funds. This fund has delivered a 5-year annualized total return of 5.32%, and is in the middle third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of 3.58%, which places it in the middle 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. Over the past three years, HIASX's standard deviation comes in at 21.97%, compared to the category average of 21.94%. Over the past 5 years, the standard deviation of the fund is 25.03% compared to the category average of 19.67%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
Investors should note that the fund has a 5-year beta of 1.17, which means it is hypothetically more volatile than the market at large. Alpha is an additional metric to take into consideration, since it represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which in this case, is the S&P 500. HIASX's 5-year performance has produced a negative alpha of -5.5, which means managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
Holdings
Investigating the equity holdings of a mutual fund is also a valuable exercise. This can show us how the manager is applying their stated methodology, as well as if there are any inherent biases in their approach. For this particular fund, the focus is principally on equities that are traded in the United States.
This fund is currently holding about 85.54% stock in stocks and it has 2.76% of assets in foreign securities. The fund has the heaviest exposure to the following market sectors:
Technology
Health
Industrial Cyclical
Non-Durable
Turnover is about 87%, so those in charge of the fund make more trades per year than the comparable average.
Expenses
Costs are increasingly important for mutual fund investing, and particularly as competition heats up in this market. And all things being equal, a lower cost product will outperform its otherwise identical counterpart, so taking a closer look at these metrics is key for investors. In terms of fees, HIASX is a no load fund. It has an expense ratio of 0.79% compared to the category average of 1.19%. So, HIASX is actually cheaper than its peers from a cost perspective.
Investors should also note, that according to our data, the fund does not have any minimum investment requirements.
Bottom Line
Overall, Hartford Small Company HLS IA ( HIASX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, worse downside risk, and lower fees, this fund looks like a great potential choice for investors right now.
Want even more information about HIASX? Then go over to Zacks.com and check out our mutual fund comparison tool, and all of the other great features that we have to help you with your mutual fund analysis 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 Hartford Small Company HLS IA (HIASX) a Strong Mutual Fund Pick Right Now?
There are plenty of choices in the Mutual Fund Equity Report category, but where should you start your research? Well, one fund that might be worth investigating is Hartford Small Company HLS IA (HIASX - Free Report) . HIASX holds a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
Hartford is responsible for HIASX, and the company is based out of Woodbury, MN. Hartford Small Company HLS IA made its debut in December of 2001, and since then, HIASX has accumulated about $371.14 million in assets, per the most up-to-date date available. The fund is currently managed by Ranjit Ramachandran who has been in charge of the fund since February of 2020.
Performance
Of course, investors look for strong performance in funds. This fund has delivered a 5-year annualized total return of 5.32%, and is in the middle third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of 3.58%, which places it in the middle 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. Over the past three years, HIASX's standard deviation comes in at 21.97%, compared to the category average of 21.94%. Over the past 5 years, the standard deviation of the fund is 25.03% compared to the category average of 19.67%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
Investors should note that the fund has a 5-year beta of 1.17, which means it is hypothetically more volatile than the market at large. Alpha is an additional metric to take into consideration, since it represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which in this case, is the S&P 500. HIASX's 5-year performance has produced a negative alpha of -5.5, which means managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
Holdings
Investigating the equity holdings of a mutual fund is also a valuable exercise. This can show us how the manager is applying their stated methodology, as well as if there are any inherent biases in their approach. For this particular fund, the focus is principally on equities that are traded in the United States.
This fund is currently holding about 85.54% stock in stocks and it has 2.76% of assets in foreign securities. The fund has the heaviest exposure to the following market sectors:
- Technology
- Health
- Industrial Cyclical
- Non-Durable
Turnover is about 87%, so those in charge of the fund make more trades per year than the comparable average.Expenses
Costs are increasingly important for mutual fund investing, and particularly as competition heats up in this market. And all things being equal, a lower cost product will outperform its otherwise identical counterpart, so taking a closer look at these metrics is key for investors. In terms of fees, HIASX is a no load fund. It has an expense ratio of 0.79% compared to the category average of 1.19%. So, HIASX is actually cheaper than its peers from a cost perspective.
Investors should also note, that according to our data, the fund does not have any minimum investment requirements.
Bottom Line
Overall, Hartford Small Company HLS IA ( HIASX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, worse downside risk, and lower fees, this fund looks like a great potential choice for investors right now.
Want even more information about HIASX? Then go over to Zacks.com and check out our mutual fund comparison tool, and all of the other great features that we have to help you with your mutual fund analysis 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.