Sector - Tech fund seekers may want to consider taking a look at USAA Science & Technology Fund (USSCX Quick QuoteUSSCX - Free Report) . USSCX carries a Zacks Mutual Fund Rank of 3 (Hold), which is based on nine forecasting factors like size, cost, and past performance.

Objective

We note that USSCX is a Sector - Tech option, and this area is loaded with many options. Found in a wide number of industries such as semiconductors, software, internet, and networking, tech companies are everywhere. Thus, Sector - Tech mutual funds that invest in technology let investors own a stake in a notoriously volatile sector, but with a much more diversifies approach.

History of Fund/Manager

Victory is based in Columbus, OH, and is the manager of USSCX. USAA Science & Technology Fund made its debut in August of 1997, and since then, USSCX has accumulated about $1.95 billion in assets, per the most up-to-date date available. A team of investment professionals is the fund's current manager.

Performance

Obviously, what investors are looking for in these funds is strong performance relative to their peers. This fund in particular has delivered a 5-year annualized total return of 27.8%, and is in the top 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 27.68%, which places it in the top 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, USSCX's standard deviation comes in at 24%, compared to the category average of 19.23%. The fund's standard deviation over the past 5 years is 19.64% compared to the category average of 16.19%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

With a 5-year beta of 1.17, the fund 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. With a positive alpha of 7.54, managers in this portfolio are skilled in picking 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, USSCX is a no load fund. It has an expense ratio of 1.04% compared to the category average of 1.36%. Looking at the fund from a cost perspective, USSCX is actually cheaper than its peers.

While the minimum initial investment for the product is $3,000, investors should also note that each subsequent investment needs to be at least $50.

Bottom Line

Overall, USAA Science & Technology Fund ( USSCX ) has a neutral Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, this fund looks like a somewhat average choice for investors right now.

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