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Is Glenmede Large Cap Growth Fund (GTLLX) a Strong Mutual Fund Pick Right Now?
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Large Cap Growth fund seekers should not consider taking a look at Glenmede Large Cap Growth Fund (GTLLX - Free Report) at this time. GTLLX possesses a Zacks Mutual Fund Rank of 4 (Sell), which is based on nine forecasting factors like size, cost, and past performance.
Objective
GTLLX is part of the Large Cap Growth section, and this segment boasts an array of other possible options. Large Cap Growth mutual funds purchase stakes in numerous large U.S. companies that are expected to develop and grow at a faster rate than other large-cap stocks. Companies are usually considered to be large-cap if their market capitalization is over $10 billion.
History of Fund/Manager
GTLLX finds itself in the Glenmede family, based out of Philadelphia, PA. Glenmede Large Cap Growth Fund made its debut in March of 2004, and since then, GTLLX has accumulated about $2.28 billion in assets, per the most up-to-date date available. The fund's current manager is 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 12.47%, and is in the middle 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 13.74%, 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. GTLLX's standard deviation over the past three years is 11.67% compared to the category average of 10.79%. The fund's standard deviation over the past 5 years is 11.85% compared to the category average of 11.05%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
Investors cannot discount the risks to this segment though, as it is always important to remember the downside for any potential investment. In GTLLX's case, the fund lost 49.7% in the most recent bear market and underperformed comparable funds by 0.84%. This means that the fund could possibly be a worse choice than its peers during a down market environment.
Even still, the fund has a 5-year beta of 1.03, so investors should note that it is hypothetically as volatile as the market at large. Because alpha represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which is the S&P 500 in this case, one should pay attention to this metric as well. GTLLX's 5-year performance has produced a positive alpha of 1.22, which means managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.
Holdings
Examining 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 largely on equities that are traded in the United States.
This fund is currently holding about 95.68% stock in stocks, with an average market capitalization of $147.48 billion. The fund has the heaviest exposure to the following market sectors:
Technology
Industrial Cyclical
Finance
Non-Durable
Retail Trade
Turnover is 63%, which means this fund makes more trades in a given year than the average of comparable funds.
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, GTLLX is a no load fund. It has an expense ratio of 0.85% compared to the category average of 1.06%. From a cost perspective, GTLLX is actually cheaper than its peers.
Investors need to be aware that with this product, the minimum initial investment is $0; each subsequent investment has no minimum amount.
Bottom Line
Overall, Glenmede Large Cap Growth Fund ( GTLLX ) has a low Zacks Mutual Fund rank, similar performance, average downside risk, and lower fees compared to its peers.
Your research on the Large Cap Growth 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 Glenmede Large Cap Growth Fund (GTLLX) a Strong Mutual Fund Pick Right Now?
Large Cap Growth fund seekers should not consider taking a look at Glenmede Large Cap Growth Fund (GTLLX - Free Report) at this time. GTLLX possesses a Zacks Mutual Fund Rank of 4 (Sell), which is based on nine forecasting factors like size, cost, and past performance.
Objective
GTLLX is part of the Large Cap Growth section, and this segment boasts an array of other possible options. Large Cap Growth mutual funds purchase stakes in numerous large U.S. companies that are expected to develop and grow at a faster rate than other large-cap stocks. Companies are usually considered to be large-cap if their market capitalization is over $10 billion.
History of Fund/Manager
GTLLX finds itself in the Glenmede family, based out of Philadelphia, PA. Glenmede Large Cap Growth Fund made its debut in March of 2004, and since then, GTLLX has accumulated about $2.28 billion in assets, per the most up-to-date date available. The fund's current manager is 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 12.47%, and is in the middle 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 13.74%, 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. GTLLX's standard deviation over the past three years is 11.67% compared to the category average of 10.79%. The fund's standard deviation over the past 5 years is 11.85% compared to the category average of 11.05%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
Investors cannot discount the risks to this segment though, as it is always important to remember the downside for any potential investment. In GTLLX's case, the fund lost 49.7% in the most recent bear market and underperformed comparable funds by 0.84%. This means that the fund could possibly be a worse choice than its peers during a down market environment.
Even still, the fund has a 5-year beta of 1.03, so investors should note that it is hypothetically as volatile as the market at large. Because alpha represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which is the S&P 500 in this case, one should pay attention to this metric as well. GTLLX's 5-year performance has produced a positive alpha of 1.22, which means managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.
Holdings
Examining 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 largely on equities that are traded in the United States.
This fund is currently holding about 95.68% stock in stocks, with an average market capitalization of $147.48 billion. The fund has the heaviest exposure to the following market sectors:
- Technology
- Industrial Cyclical
- Finance
- Non-Durable
- Retail Trade
Turnover is 63%, which means this fund makes more trades in a given year than the average of comparable funds.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, GTLLX is a no load fund. It has an expense ratio of 0.85% compared to the category average of 1.06%. From a cost perspective, GTLLX is actually cheaper than its peers.
Investors need to be aware that with this product, the minimum initial investment is $0; each subsequent investment has no minimum amount.
Bottom Line
Overall, Glenmede Large Cap Growth Fund ( GTLLX ) has a low Zacks Mutual Fund rank, similar performance, average downside risk, and lower fees compared to its peers.
Your research on the Large Cap Growth 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.