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Is Parnassus Core Equity Fund (PRBLX) a Strong Mutual Fund Pick Right Now?
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Having trouble finding a Mutual Fund Equity Report fund? Well, Parnassus Core Equity Fund (PRBLX - Free Report) would not be a good potential starting point right now. PRBLX has a Zacks Mutual Fund Rank of 4 (Sell), which is based on nine forecasting factors like size, cost, and past performance.
History of Fund/Manager
Parnassus is responsible for PRBLX, and the company is based out of San Francisco, CA. Parnassus Core Equity Fund made its debut in September of 1992, and since then, PRBLX has accumulated about $14 billion in assets, per the most up-to-date date available. The fund is currently managed by a team of investment professionals.
Performance
Investors naturally seek funds with strong performance. PRBLX has a 5-year annualized total return of 15.59% and it sits in the middle 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 18.5%, 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. Over the past three years, PRBLX's standard deviation comes in at 15.95%, compared to the category average of 16.2%. The standard deviation of the fund over the past 5 years is 14.25% compared to the category average of 14.44%. This makes the fund less volatile than its peers over the past half-decade.
Risk Factors
The fund has a 5-year beta of 0.88, so investors should note that it is hypothetically less volatile than the market at large. 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. PRBLX's 5-year performance has produced a positive alpha of 1.89, which means 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, PRBLX is a no load fund. It has an expense ratio of 0.82% compared to the category average of 1%. So, PRBLX is actually cheaper than its peers from a cost perspective.
While the minimum initial investment for the product is $2,000, investors should also note that each subsequent investment needs to be at least $50.
Bottom Line
Overall, Parnassus Core Equity Fund ( PRBLX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and lower fees, this fund looks like a somewhat weak 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 PRBLX too for additional information. Zacks provides a full suite of tools to help you analyze your portfolio - both funds and stocks - in the most efficient way possible.
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Is Parnassus Core Equity Fund (PRBLX) a Strong Mutual Fund Pick Right Now?
Having trouble finding a Mutual Fund Equity Report fund? Well, Parnassus Core Equity Fund (PRBLX - Free Report) would not be a good potential starting point right now. PRBLX has a Zacks Mutual Fund Rank of 4 (Sell), which is based on nine forecasting factors like size, cost, and past performance.
History of Fund/Manager
Parnassus is responsible for PRBLX, and the company is based out of San Francisco, CA. Parnassus Core Equity Fund made its debut in September of 1992, and since then, PRBLX has accumulated about $14 billion in assets, per the most up-to-date date available. The fund is currently managed by a team of investment professionals.
Performance
Investors naturally seek funds with strong performance. PRBLX has a 5-year annualized total return of 15.59% and it sits in the middle 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 18.5%, 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. Over the past three years, PRBLX's standard deviation comes in at 15.95%, compared to the category average of 16.2%. The standard deviation of the fund over the past 5 years is 14.25% compared to the category average of 14.44%. This makes the fund less volatile than its peers over the past half-decade.
Risk Factors
The fund has a 5-year beta of 0.88, so investors should note that it is hypothetically less volatile than the market at large. 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. PRBLX's 5-year performance has produced a positive alpha of 1.89, which means 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, PRBLX is a no load fund. It has an expense ratio of 0.82% compared to the category average of 1%. So, PRBLX is actually cheaper than its peers from a cost perspective.
While the minimum initial investment for the product is $2,000, investors should also note that each subsequent investment needs to be at least $50.
Bottom Line
Overall, Parnassus Core Equity Fund ( PRBLX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and lower fees, this fund looks like a somewhat weak 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 PRBLX too for additional information. Zacks provides a full suite of tools to help you analyze your portfolio - both funds and stocks - in the most efficient way possible.