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Is PRIMECAP Odyssey Growth Fund (POGRX) a Strong Mutual Fund Pick Right Now?
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There are plenty of choices in the Mutual Fund Equity Report category, but where should you start your research? Well, one fund that might be worth investigating is PRIMECAP Odyssey Growth Fund (POGRX - Free Report) . POGRX carries a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
Primecap Odyssey is based in Pasadena, CA, and is the manager of POGRX. Since PRIMECAP Odyssey Growth Fund made its debut in November of 2004, POGRX has garnered more than $6.62 billion in assets. The fund is currently managed by a team of investment professionals.
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 7.02%, 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 5.84%, which places it in the middle 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, POGRX's standard deviation comes in at 21.13%, compared to the category average of 23.43%. The standard deviation of the fund over the past 5 years is 20.58% compared to the category average of 20.81%. 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. 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. Over the past 5 years, the fund has a negative alpha of -1.92. This means that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
Holdings
Exploring the equity holdings of a mutual fund is also a valuable exercise. This can show us how the manager is applying their stated methodology, as well as if there are any inherent biases in their approach. For this particular fund, the focus is principally on equities that are traded in the United States.
Currently, this mutual fund is holding 96.16% stock in stocks, which have an average market capitalization of $149.22 billion. The fund has the heaviest exposure to the following market sectors:
Technology
Health
Industrial Cyclical
Turnover is 4%, which means this fund makes fewer trades than comparable funds.
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, POGRX is a no load fund. It has an expense ratio of 0.65% compared to the category average of 0.99%. Looking at the fund from a cost perspective, POGRX is actually cheaper than its peers.
This fund requires a minimum initial investment of $2,000, and each subsequent investment should be at least $100.
Bottom Line
Overall, PRIMECAP Odyssey Growth Fund ( POGRX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, average downside risk, and lower fees, PRIMECAP Odyssey Growth Fund ( POGRX ) looks like a great potential choice for investors right now.
For additional information on the Mutual Fund Equity Report area of the mutual fund world, make sure to check out www.zacks.com/funds/mutual-funds. There, you can see more about the ranking process, and dive even deeper into POGRX too for additional information. If you want to check out our stock reports as well, make sure to go to Zacks.com to see all of the great tools we have to offer, including our time-tested Zacks Rank.
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Is PRIMECAP Odyssey Growth Fund (POGRX) a Strong Mutual Fund Pick Right Now?
There are plenty of choices in the Mutual Fund Equity Report category, but where should you start your research? Well, one fund that might be worth investigating is PRIMECAP Odyssey Growth Fund (POGRX - Free Report) . POGRX carries a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
Primecap Odyssey is based in Pasadena, CA, and is the manager of POGRX. Since PRIMECAP Odyssey Growth Fund made its debut in November of 2004, POGRX has garnered more than $6.62 billion in assets. The fund is currently managed by a team of investment professionals.
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 7.02%, 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 5.84%, which places it in the middle 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, POGRX's standard deviation comes in at 21.13%, compared to the category average of 23.43%. The standard deviation of the fund over the past 5 years is 20.58% compared to the category average of 20.81%. 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. 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. Over the past 5 years, the fund has a negative alpha of -1.92. This means that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
Holdings
Exploring the equity holdings of a mutual fund is also a valuable exercise. This can show us how the manager is applying their stated methodology, as well as if there are any inherent biases in their approach. For this particular fund, the focus is principally on equities that are traded in the United States.
Currently, this mutual fund is holding 96.16% stock in stocks, which have an average market capitalization of $149.22 billion. The fund has the heaviest exposure to the following market sectors:
- Technology
- Health
- Industrial Cyclical
Turnover is 4%, which means this fund makes fewer trades than comparable funds.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, POGRX is a no load fund. It has an expense ratio of 0.65% compared to the category average of 0.99%. Looking at the fund from a cost perspective, POGRX is actually cheaper than its peers.
This fund requires a minimum initial investment of $2,000, and each subsequent investment should be at least $100.
Bottom Line
Overall, PRIMECAP Odyssey Growth Fund ( POGRX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, average downside risk, and lower fees, PRIMECAP Odyssey Growth Fund ( POGRX ) looks like a great potential choice for investors right now.
For additional information on the Mutual Fund Equity Report area of the mutual fund world, make sure to check out www.zacks.com/funds/mutual-funds. There, you can see more about the ranking process, and dive even deeper into POGRX too for additional information. If you want to check out our stock reports as well, make sure to go to Zacks.com to see all of the great tools we have to offer, including our time-tested Zacks Rank.