If investors are looking at the Mutual Fund Equity Report fund category, make sure to pass over Hartford Healthcare Fund HLS IA (HIAHX Quick QuoteHIAHX - Free Report) . HIAHX carries a Zacks Mutual Fund Rank of 4 (Sell), which is based on various forecasting factors like size, cost, and past performance.

History of Fund/Manager

HIAHX finds itself in the Hartford family, based out of Woodbury, MN. Hartford Healthcare Fund HLS IA debuted in December of 2001. Since then, HIAHX has accumulated assets of about $111.03 million, according to the most recently available information. A team of investment professionals is the fund's current manager.

Performance

Obviously, what investors are looking for in these funds is strong performance relative to their peers. This fund in particular has delivered a 5-year annualized total return of 6.39%, and it sits in the middle third among its category peers. If you're interested in shorter time frames, do not dismiss looking at the fund's 3 -year annualized total return of 2.34%, 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. Compared to the category average of 15.69%, the standard deviation of HIAHX over the past three years is 14.93%. Looking at the past 5 years, the fund's standard deviation is 17.51% compared to the category average of 17.03%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

Investors should not forget about beta, an important way to measure a mutual fund's risk compared to the market as a whole. HIAHX has a 5-year beta of 0.78, which means it is likely to be less volatile than the market average. Another factor to consider is alpha, as it reflects a portfolio's performance on a risk-adjusted basis relative to a benchmark-in this case, the S&P 500. With a negative alpha of -2.21, managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.

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, HIAHX is a no load fund. It has an expense ratio of 0.92% compared to the category average of 1.28%. From a cost perspective, HIAHX is actually cheaper than its peers.

While the minimum initial investment for the product is $0, investors should also note that 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, Hartford Healthcare Fund HLS IA ( HIAHX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and lower fees, Hartford Healthcare Fund HLS IA ( HIAHX ) looks like a somewhat weak choice for investors right now.

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