We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Having trouble finding a Mutual Fund Bond fund? Well, Eaton Vance MA Municipals C (ECMMX - Free Report) would not be a good potential starting point right now. ECMMX bears 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
ECMMX finds itself in the Eaton Vance family, based out of Boston, MA. Eaton Vance MA Municipals C made its debut in July of 2006, and since then, ECMMX has accumulated about $8.46 million in assets, per the most up-to-date date available. The fund is currently managed by Craig Brandon who has been in charge of the fund since February of 2010.
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 1.58%, and it sits in the top third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 3.25%, 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. ECMMX's standard deviation over the past three years is 3.78% compared to the category average of 11.47%. The fund's standard deviation over the past 5 years is 3.81% compared to the category average of 9.68%. This makes the fund less volatile than its peers over the past half-decade.
This fund has a beta of 0.63, meaning that it is less volatile than a broad market index of fixed income securities. Taking this into account, ECMMX has a negative alpha of -1.71, which measures performance on a risk-adjusted basis.
Ratings
Investors should also consider a bond's rating, which is a grade ( 'AAA' to 'D' ) given to a bond that indicates its credit quality. With this letter scale in mind, ECMMX has 73.58% in high quality bonds rated at least 'AA' or higher, while 25.46% are of medium quality, with ratings of 'A' to 'BBB'. The fund has an average quality of AA, and focuses on high quality securities.
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, ECMMX is a no load fund. It has an expense ratio of 1.41% compared to the category average of 0.80%. From a cost perspective, ECMMX is actually more expensive than its peers.
While the minimum initial investment for the product is $1,000, investors should also note that there is no minimum for each subsequent investment.
Bottom Line
Overall, Eaton Vance MA Municipals C ( ECMMX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, better downside risk, and higher fees, Eaton Vance MA Municipals C ( ECMMX ) looks like a poor potential choice for investors right now.
Want even more information about ECMMX? Then go over to Zacks.com and check out our mutual fund comparison tool, and all of the other great features that we have to help you with your mutual fund analysis 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Is ECMMX a Strong Bond Fund Right Now?
Having trouble finding a Mutual Fund Bond fund? Well, Eaton Vance MA Municipals C (ECMMX - Free Report) would not be a good potential starting point right now. ECMMX bears 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
ECMMX finds itself in the Eaton Vance family, based out of Boston, MA. Eaton Vance MA Municipals C made its debut in July of 2006, and since then, ECMMX has accumulated about $8.46 million in assets, per the most up-to-date date available. The fund is currently managed by Craig Brandon who has been in charge of the fund since February of 2010.
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 1.58%, and it sits in the top third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 3.25%, 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. ECMMX's standard deviation over the past three years is 3.78% compared to the category average of 11.47%. The fund's standard deviation over the past 5 years is 3.81% compared to the category average of 9.68%. This makes the fund less volatile than its peers over the past half-decade.
This fund has a beta of 0.63, meaning that it is less volatile than a broad market index of fixed income securities. Taking this into account, ECMMX has a negative alpha of -1.71, which measures performance on a risk-adjusted basis.
Ratings
Investors should also consider a bond's rating, which is a grade ( 'AAA' to 'D' ) given to a bond that indicates its credit quality. With this letter scale in mind, ECMMX has 73.58% in high quality bonds rated at least 'AA' or higher, while 25.46% are of medium quality, with ratings of 'A' to 'BBB'. The fund has an average quality of AA, and focuses on high quality securities.
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, ECMMX is a no load fund. It has an expense ratio of 1.41% compared to the category average of 0.80%. From a cost perspective, ECMMX is actually more expensive than its peers.
While the minimum initial investment for the product is $1,000, investors should also note that there is no minimum for each subsequent investment.
Bottom Line
Overall, Eaton Vance MA Municipals C ( ECMMX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, better downside risk, and higher fees, Eaton Vance MA Municipals C ( ECMMX ) looks like a poor potential choice for investors right now.
Want even more information about ECMMX? Then go over to Zacks.com and check out our mutual fund comparison tool, and all of the other great features that we have to help you with your mutual fund analysis 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.