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Is Eventide Gilead Fund N (ETGLX) a Strong Mutual Fund Pick Right Now?
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Any investors hoping to find a Mutual Fund Equity Report fund might consider looking past Eventide Gilead Fund N (ETGLX - Free Report) . ETGLX 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
Eventide is based in Willow Grove, PA, and is the manager of ETGLX. The Eventide Gilead Fund N made its debut in July of 2008 and ETGLX has managed to accumulate roughly $832.12 million in assets, as of the most recently available information. The fund is currently managed by Finny Kuruvilla who has been in charge of the fund since July of 2008.
Performance
Of course, investors look for strong performance in funds. This fund in particular has delivered a 5-year annualized total return of 24.21%, and is 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 28.24%, 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. Compared to the category average of 16.69%, the standard deviation of ETGLX over the past three years is 23.56%. The standard deviation of the fund over the past 5 years is 19.97% compared to the category average of 14.06%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
Investors should not forget about beta, an important way to measure a mutual fund's risk compared to the market as a whole. ETGLX has a 5-year beta of 1.07, which means it is likely to be more volatile than the market average. 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. The fund has produced a positive alpha over the past 5 years of 5.04, which shows that 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, ETGLX is a no load fund. It has an expense ratio of 1.31% compared to the category average of 1.17%. So, ETGLX is actually more expensive than its peers from a cost perspective.
This fund requires a minimum initial investment of $1,000, and each subsequent investment should be at least $50.
Bottom Line
Overall, Eventide Gilead Fund N ( ETGLX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, worse downside risk, and higher fees, Eventide Gilead Fund N ( ETGLX ) looks like a poor 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 ETGLX too for additional information. And don't forget, Zacks has all of your needs covered on the equity side too! Make sure to check out Zacks.com for more information on our screening capabilities, Rank, and all our articles as well.
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Is Eventide Gilead Fund N (ETGLX) a Strong Mutual Fund Pick Right Now?
Any investors hoping to find a Mutual Fund Equity Report fund might consider looking past Eventide Gilead Fund N (ETGLX - Free Report) . ETGLX 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
Eventide is based in Willow Grove, PA, and is the manager of ETGLX. The Eventide Gilead Fund N made its debut in July of 2008 and ETGLX has managed to accumulate roughly $832.12 million in assets, as of the most recently available information. The fund is currently managed by Finny Kuruvilla who has been in charge of the fund since July of 2008.
Performance
Of course, investors look for strong performance in funds. This fund in particular has delivered a 5-year annualized total return of 24.21%, and is 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 28.24%, 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. Compared to the category average of 16.69%, the standard deviation of ETGLX over the past three years is 23.56%. The standard deviation of the fund over the past 5 years is 19.97% compared to the category average of 14.06%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
Investors should not forget about beta, an important way to measure a mutual fund's risk compared to the market as a whole. ETGLX has a 5-year beta of 1.07, which means it is likely to be more volatile than the market average. 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. The fund has produced a positive alpha over the past 5 years of 5.04, which shows that 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, ETGLX is a no load fund. It has an expense ratio of 1.31% compared to the category average of 1.17%. So, ETGLX is actually more expensive than its peers from a cost perspective.
This fund requires a minimum initial investment of $1,000, and each subsequent investment should be at least $50.
Bottom Line
Overall, Eventide Gilead Fund N ( ETGLX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, worse downside risk, and higher fees, Eventide Gilead Fund N ( ETGLX ) looks like a poor 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 ETGLX too for additional information. And don't forget, Zacks has all of your needs covered on the equity side too! Make sure to check out Zacks.com for more information on our screening capabilities, Rank, and all our articles as well.