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Is ProFunds Semicond UltraSector Investor (SMPIX) a Strong Mutual Fund Pick Right Now?
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If you've been stuck searching for Mutual Fund Equity Report funds, consider ProFunds Semicond UltraSector Investor (SMPIX - Free Report) as a possibility. 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 SMPIX. ProFunds Semicond UltraSector Investor made its debut in June of 2000, and since then, SMPIX has accumulated about $127.52 million in assets, per the most up-to-date date available. Michael Neches is the fund's current manager and has held that role since October of 2013.
Performance
Obviously, what investors are looking for in these funds is strong performance relative to their peers. This fund has delivered a 5-year annualized total return of 29.88%, and it sits 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 23.29%, which places it in the top 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 SMPIX over the past three years is 52.22%. Looking at the past 5 years, the fund's standard deviation is 46.61% 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. SMPIX has a 5-year beta of 1.98, which means it is likely to be more 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. SMPIX has generated a positive alpha over the past five years of 15.87, demonstrating that managers in this portfolio are skilled in picking 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, SMPIX is a no load fund. It has an expense ratio of 1.56% compared to the category average of 1.28%. Looking at the fund from a cost perspective, SMPIX is actually more expensive than its peers.
This fund requires a minimum initial investment of $15,000, 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
For additional information on this product, or to compare it to other mutual funds in the Mutual Fund Equity Report, make sure to go to www.zacks.com/funds/mutual-funds 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 ProFunds Semicond UltraSector Investor (SMPIX) a Strong Mutual Fund Pick Right Now?
If you've been stuck searching for Mutual Fund Equity Report funds, consider ProFunds Semicond UltraSector Investor (SMPIX - Free Report) as a possibility. 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 SMPIX. ProFunds Semicond UltraSector Investor made its debut in June of 2000, and since then, SMPIX has accumulated about $127.52 million in assets, per the most up-to-date date available. Michael Neches is the fund's current manager and has held that role since October of 2013.
Performance
Obviously, what investors are looking for in these funds is strong performance relative to their peers. This fund has delivered a 5-year annualized total return of 29.88%, and it sits 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 23.29%, which places it in the top 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 SMPIX over the past three years is 52.22%. Looking at the past 5 years, the fund's standard deviation is 46.61% 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. SMPIX has a 5-year beta of 1.98, which means it is likely to be more 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. SMPIX has generated a positive alpha over the past five years of 15.87, demonstrating that managers in this portfolio are skilled in picking 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, SMPIX is a no load fund. It has an expense ratio of 1.56% compared to the category average of 1.28%. Looking at the fund from a cost perspective, SMPIX is actually more expensive than its peers.
This fund requires a minimum initial investment of $15,000, 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
For additional information on this product, or to compare it to other mutual funds in the Mutual Fund Equity Report, make sure to go to www.zacks.com/funds/mutual-funds 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.