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Is Harbor Capital Appreciation Institutional (HACAX) a Strong Mutual Fund Pick Right Now?
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There are plenty of choices in the Mutual Fund Equity Report category, but where should you start your research? Well, one fund that might be worth investigating is Harbor Capital Appreciation Institutional (HACAX - Free Report) . HACAX holds a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on nine forecasting factors like size, cost, and past performance.
History of Fund/Manager
Harbor Funds is based in Chicago, IL, and is the manager of HACAX. Harbor Capital Appreciation Institutional debuted in December of 1987. Since then, HACAX has accumulated assets of about $28.90 billion, according to the most recently available information. The fund is currently managed by a team of investment professionals.
Performance
Of course, investors look for strong performance in funds. HACAX has a 5-year annualized total return of 19.8% and it sits 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 19.93%, 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. Compared to the category average of 15.82%, the standard deviation of HACAX over the past three years is 22.96%. Over the past 5 years, the standard deviation of the fund is 20.18% compared to the category average of 14.09%. 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. HACAX has a 5-year beta of 1.13, 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. With a positive alpha of 2.89, managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.
Holdings
Exploring 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 primarily on equities that are traded in the United States.
Currently, this mutual fund is holding 82.65% stock in stocks, and these companies have an average market capitalization of $551.69 billion. The fund has the heaviest exposure to the following market sectors:
Technology
Retail Trade
Turnover is about 48%, so those in charge of the fund make fewer trades than its comparable peers.
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, HACAX is a no load fund. It has an expense ratio of 0.65% compared to the category average of 1%. Looking at the fund from a cost perspective, HACAX is actually cheaper than its peers.
While the minimum initial investment for the product is $50,000, investors should also note that there is no minimum for each subsequent investment.
Bottom Line
Overall, Harbor Capital Appreciation Institutional ( HACAX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, worse downside risk, and lower fees, this fund looks like a good potential choice for investors right now.
Don't stop here for your research on Mutual Fund Equity Report funds. We also have plenty more on our site in order to help you find the best possible fund for your portfolio. Make sure to check out www.zacks.com/funds/mutual-funds for more information about the world of funds, and feel free to compare HACAX to its peers as well 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 Harbor Capital Appreciation Institutional (HACAX) a Strong Mutual Fund Pick Right Now?
There are plenty of choices in the Mutual Fund Equity Report category, but where should you start your research? Well, one fund that might be worth investigating is Harbor Capital Appreciation Institutional (HACAX - Free Report) . HACAX holds a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on nine forecasting factors like size, cost, and past performance.
History of Fund/Manager
Harbor Funds is based in Chicago, IL, and is the manager of HACAX. Harbor Capital Appreciation Institutional debuted in December of 1987. Since then, HACAX has accumulated assets of about $28.90 billion, according to the most recently available information. The fund is currently managed by a team of investment professionals.
Performance
Of course, investors look for strong performance in funds. HACAX has a 5-year annualized total return of 19.8% and it sits 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 19.93%, 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. Compared to the category average of 15.82%, the standard deviation of HACAX over the past three years is 22.96%. Over the past 5 years, the standard deviation of the fund is 20.18% compared to the category average of 14.09%. 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. HACAX has a 5-year beta of 1.13, 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. With a positive alpha of 2.89, managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.
Holdings
Exploring 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 primarily on equities that are traded in the United States.
Currently, this mutual fund is holding 82.65% stock in stocks, and these companies have an average market capitalization of $551.69 billion. The fund has the heaviest exposure to the following market sectors:
- Technology
- Retail Trade
Turnover is about 48%, so those in charge of the fund make fewer trades than its comparable peers.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, HACAX is a no load fund. It has an expense ratio of 0.65% compared to the category average of 1%. Looking at the fund from a cost perspective, HACAX is actually cheaper than its peers.
While the minimum initial investment for the product is $50,000, investors should also note that there is no minimum for each subsequent investment.
Bottom Line
Overall, Harbor Capital Appreciation Institutional ( HACAX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, worse downside risk, and lower fees, this fund looks like a good potential choice for investors right now.
Don't stop here for your research on Mutual Fund Equity Report funds. We also have plenty more on our site in order to help you find the best possible fund for your portfolio. Make sure to check out www.zacks.com/funds/mutual-funds for more information about the world of funds, and feel free to compare HACAX to its peers as well 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.