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Is Ave Maria Growth Fund (AVEGX) a Strong Mutual Fund Pick Right Now?
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If you have been looking for Mutual Fund Equity Report funds, it would not be wise to start your search with Ave Maria Growth Fund (AVEGX - Free Report) . AVEGX carries a Zacks Mutual Fund Rank of 5 (Strong Sell), which is based on nine forecasting factors like size, cost, and past performance.
History of Fund/Manager
AVEGX is a part of the Ave Maria family of funds, a company based out of Plymouth, MI. Ave Maria Growth Fund debuted in May of 2003. Since then, AVEGX has accumulated assets of about $1.07 billion, according to the most recently available information. Adam Gaglio is the fund's current manager and has held that role since July of 2019.
Performance
Obviously, what investors are looking for in these funds is strong performance relative to their peers. This fund carries a 5-year annualized total return of 12.43%, and it sits in the bottom 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 8.54%, which places it in the bottom 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, AVEGX's standard deviation comes in at 19.87%, compared to the category average of 19.74%. The fund's standard deviation over the past 5 years is 17.44% compared to the category average of 17.78%. This makes the fund less volatile than its peers over the past half-decade.
Risk Factors
The fund has a 5-year beta of 1.01, so investors should note that it is hypothetically as volatile as the market at large. 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. AVEGX has generated a negative alpha over the past five years of -1.06, demonstrating that 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, AVEGX is a no load fund. It has an expense ratio of 0.90% compared to the category average of 1.15%. Looking at the fund from a cost perspective, AVEGX is actually cheaper than its peers.
Investors need to be aware that with this product, the minimum initial investment is $2,500; each subsequent investment has no minimum amount.
Bottom Line
Overall, Ave Maria Growth Fund ( AVEGX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, average downside risk, and lower fees, Ave Maria Growth Fund ( AVEGX ) looks like a somewhat weak choice for investors right now.
Your research on the Mutual Fund Equity Report segment doesn't have to stop here. You can check out all the great mutual fund tools we have to offer by going to www.zacks.com/funds/mutual-funds to see the additional features we offer as well 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 Ave Maria Growth Fund (AVEGX) a Strong Mutual Fund Pick Right Now?
If you have been looking for Mutual Fund Equity Report funds, it would not be wise to start your search with Ave Maria Growth Fund (AVEGX - Free Report) . AVEGX carries a Zacks Mutual Fund Rank of 5 (Strong Sell), which is based on nine forecasting factors like size, cost, and past performance.
History of Fund/Manager
AVEGX is a part of the Ave Maria family of funds, a company based out of Plymouth, MI. Ave Maria Growth Fund debuted in May of 2003. Since then, AVEGX has accumulated assets of about $1.07 billion, according to the most recently available information. Adam Gaglio is the fund's current manager and has held that role since July of 2019.
Performance
Obviously, what investors are looking for in these funds is strong performance relative to their peers. This fund carries a 5-year annualized total return of 12.43%, and it sits in the bottom 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 8.54%, which places it in the bottom 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, AVEGX's standard deviation comes in at 19.87%, compared to the category average of 19.74%. The fund's standard deviation over the past 5 years is 17.44% compared to the category average of 17.78%. This makes the fund less volatile than its peers over the past half-decade.
Risk Factors
The fund has a 5-year beta of 1.01, so investors should note that it is hypothetically as volatile as the market at large. 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. AVEGX has generated a negative alpha over the past five years of -1.06, demonstrating that 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, AVEGX is a no load fund. It has an expense ratio of 0.90% compared to the category average of 1.15%. Looking at the fund from a cost perspective, AVEGX is actually cheaper than its peers.
Investors need to be aware that with this product, the minimum initial investment is $2,500; each subsequent investment has no minimum amount.
Bottom Line
Overall, Ave Maria Growth Fund ( AVEGX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, average downside risk, and lower fees, Ave Maria Growth Fund ( AVEGX ) looks like a somewhat weak choice for investors right now.
Your research on the Mutual Fund Equity Report segment doesn't have to stop here. You can check out all the great mutual fund tools we have to offer by going to www.zacks.com/funds/mutual-funds to see the additional features we offer as well 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.