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Any investors hoping to find a Mutual Fund Bond fund could think about starting with Colorado Bond Shares Tax-Exempt A (HICOX - Free Report) . HICOX possesses a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
HICOX is a part of the Freedom Funds family of funds, a company based out of Denver, CO. Colorado Bond Shares Tax-Exempt A made its debut in June of 1987, and since then, HICOX has accumulated about $1.71 billion in assets, per the most up-to-date date available. Fred R. Kelly Jr. Is the fund's current manager and has held that role since November of 1990.
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 2.54%, 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 1.49%, 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. HICOX's standard deviation over the past three years is 5.01% compared to the category average of 5.2%. The standard deviation of the fund over the past 5 years is 4.72% compared to the category average of 4.63%. This makes the fund more volatile than its peers over the past half-decade.
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, HICOX is a load fund. It has an expense ratio of 0.62% compared to the category average of 0.77%. HICOX is actually cheaper than its peers when you consider factors like cost.
This fund requires a minimum initial investment of $500, 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
Overall, Colorado Bond Shares Tax-Exempt A ( HICOX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, this fund looks like a good potential choice for investors right now.
Your research on the Mutual Fund Bond 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. For analysis of the rest of your portfolio, make sure to visit Zacks.com for our full suite of tools which will help you investigate all of your stocks and funds in one place.
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Is HICOX a Strong Bond Fund Right Now?
Any investors hoping to find a Mutual Fund Bond fund could think about starting with Colorado Bond Shares Tax-Exempt A (HICOX - Free Report) . HICOX possesses a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
HICOX is a part of the Freedom Funds family of funds, a company based out of Denver, CO. Colorado Bond Shares Tax-Exempt A made its debut in June of 1987, and since then, HICOX has accumulated about $1.71 billion in assets, per the most up-to-date date available. Fred R. Kelly Jr. Is the fund's current manager and has held that role since November of 1990.
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 2.54%, 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 1.49%, 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. HICOX's standard deviation over the past three years is 5.01% compared to the category average of 5.2%. The standard deviation of the fund over the past 5 years is 4.72% compared to the category average of 4.63%. This makes the fund more volatile than its peers over the past half-decade.
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, HICOX is a load fund. It has an expense ratio of 0.62% compared to the category average of 0.77%. HICOX is actually cheaper than its peers when you consider factors like cost.
This fund requires a minimum initial investment of $500, 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
Overall, Colorado Bond Shares Tax-Exempt A ( HICOX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, this fund looks like a good potential choice for investors right now.
Your research on the Mutual Fund Bond 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. For analysis of the rest of your portfolio, make sure to visit Zacks.com for our full suite of tools which will help you investigate all of your stocks and funds in one place.