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Is Harbor Mid Cap Growth Institutional (HAMGX) a Strong Mutual Fund Pick Right Now?
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Having trouble finding a Mutual Fund Equity Report fund? Harbor Mid Cap Growth Institutional (HAMGX - Free Report) is a possible starting point. HAMGX holds a Zacks Mutual Fund Rank of 3 (Hold), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
Harbor Funds is based in Chicago, IL, and is the manager of HAMGX. Since Harbor Mid Cap Growth Institutional made its debut in November of 2000, HAMGX has garnered more than $51.01 million in assets. The fund's current manager, Spenser Lerner, has been in charge of the fund since September of 2021.
Performance
Of course, investors look for strong performance in funds. This fund has delivered a 5-year annualized total return of 5.93%, and it sits in the bottom third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of -1.96%, which places it in the bottom third during this time-frame.
It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.
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, HAMGX's standard deviation comes in at 24.51%, compared to the category average of 16.26%. Over the past 5 years, the standard deviation of the fund is 25.87% compared to the category average of 17.09%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
With a 5-year beta of 1.16, the fund is likely to be more volatile than the market average. Because alpha represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which is the S&P 500 in this case, one should pay attention to this metric as well. Over the past 5 years, the fund has a negative alpha of -6.03. This means that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
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, HAMGX is a no load fund. It has an expense ratio of 0.83% compared to the category average of 1.15%. So, HAMGX is actually cheaper than its peers from a cost perspective.
This fund requires a minimum initial investment of $50,000, while there is no minimum for each subsequent investment.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, even with its comparatively weak performance, worse downside risk, and lower fees, Harbor Mid Cap Growth Institutional ( HAMGX ) has a neutral Zacks Mutual Fund rank, and therefore looks a somewhat average choice for investors right now.
Don't stop here for your research on Mutual Fund Equity Report 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 HAMGX to its peers as well for additional information. Want to learn even more? We have a full suite of tools on stocks that you can use to find the best choices for your portfolio too, no matter what kind of investor you are.
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Is Harbor Mid Cap Growth Institutional (HAMGX) a Strong Mutual Fund Pick Right Now?
Having trouble finding a Mutual Fund Equity Report fund? Harbor Mid Cap Growth Institutional (HAMGX - Free Report) is a possible starting point. HAMGX holds a Zacks Mutual Fund Rank of 3 (Hold), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
Harbor Funds is based in Chicago, IL, and is the manager of HAMGX. Since Harbor Mid Cap Growth Institutional made its debut in November of 2000, HAMGX has garnered more than $51.01 million in assets. The fund's current manager, Spenser Lerner, has been in charge of the fund since September of 2021.
Performance
Of course, investors look for strong performance in funds. This fund has delivered a 5-year annualized total return of 5.93%, and it sits in the bottom third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of -1.96%, which places it in the bottom third during this time-frame.
It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.
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, HAMGX's standard deviation comes in at 24.51%, compared to the category average of 16.26%. Over the past 5 years, the standard deviation of the fund is 25.87% compared to the category average of 17.09%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
With a 5-year beta of 1.16, the fund is likely to be more volatile than the market average. Because alpha represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which is the S&P 500 in this case, one should pay attention to this metric as well. Over the past 5 years, the fund has a negative alpha of -6.03. This means that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
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, HAMGX is a no load fund. It has an expense ratio of 0.83% compared to the category average of 1.15%. So, HAMGX is actually cheaper than its peers from a cost perspective.
This fund requires a minimum initial investment of $50,000, while there is no minimum for each subsequent investment.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, even with its comparatively weak performance, worse downside risk, and lower fees, Harbor Mid Cap Growth Institutional ( HAMGX ) has a neutral Zacks Mutual Fund rank, and therefore looks a somewhat average choice for investors right now.
Don't stop here for your research on Mutual Fund Equity Report 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 HAMGX to its peers as well for additional information. Want to learn even more? We have a full suite of tools on stocks that you can use to find the best choices for your portfolio too, no matter what kind of investor you are.