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Is ProFunds UltraNASDAQ-100 Fund Investor (UOPIX) a Strong Mutual Fund Pick Right Now?

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Any investors who are searching for Mutual Fund Equity Report funds should take a look at ProFunds UltraNASDAQ-100 Fund Investor (UOPIX - Free Report) . The fund does not have a Zacks Mutual Fund Rank, though we have been able to explore other metrics like performance, volatility, and cost.

History of Fund/Manager

ProFunds is based in Columbus, OH, and is the manager of UOPIX. The ProFunds UltraNASDAQ-100 Fund Investor made its debut in December of 1997 and UOPIX has managed to accumulate roughly $773.82 million in assets, as of the most recently available information. The fund's current manager, Michael Neches, has been in charge of the fund since October of 2013.

Performance

Of course, investors look for strong performance in funds. UOPIX has a 5-year annualized total return of 21.32% and is in the top 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 9.13%, which places it in the middle 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 26.05%, the standard deviation of UOPIX over the past three years is 44.87%. The fund's standard deviation over the past 5 years is 45.04% compared to the category average of 27.2%. 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. UOPIX has a 5-year beta of 2.24, which means it is likely to be more volatile than the market average. 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. UOPIX has generated a positive alpha over the past five years of 4.54, demonstrating that managers in this portfolio are skilled in picking 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, UOPIX is a no load fund. It has an expense ratio of 1.53% compared to the category average of 0.80%. UOPIX is actually more expensive than its peers when you consider factors like cost.

Investors should also note that the minimum initial investment for the product is $15,000 and that each subsequent investment has no minimum amount.

Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.

Bottom Line

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 UOPIX to its peers as well for additional information. Zacks provides a full suite of tools to help you analyze your portfolio - both funds and stocks - in the most efficient way possible.


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