Looking for a Mutual Fund Equity Report fund? You may want to consider Schwab Small-Cap Index (SWSSX Quick QuoteSWSSX - Free Report) as a possible option. SWSSX has no Zacks Mutual Fund Rank, but we have been able to look into other metrics like performance, volatility, and cost.

History of Fund/Manager

Schwab Funds is based in San Francisco, CA, and is the manager of SWSSX. Schwab Small-Cap Index made its debut in May of 1997, and since then, SWSSX has accumulated about $6.59 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 has delivered a 5-year annualized total return of 9.82%, and it sits in the middle 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 11.82%, 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. The standard deviation of SWSSX over the past three years is 23.71% compared to the category average of 23.86%. The fund's standard deviation over the past 5 years is 21.21% compared to the category average of 21.16%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

Investors should note that the fund has a 5-year beta of 1.17, so it is likely going to be more volatile than the market at large. Because alpha represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which is the S&P 500 in this case, one should pay attention to this metric as well. SWSSX has generated a negative alpha over the past five years of -6.85, demonstrating that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.

Holdings

Examining 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 mostly on equities that are traded in the United States.

This fund is currently holding about 98.59% stock in stocks, with an average market capitalization of $3.35 billion. The fund has the heaviest exposure to the following market sectors:

1. Finance
2. Technology
3. Industrial Cyclical
4. Other
5. Health

With turnover at about 19%, this fund is making fewer trades than comparable funds.

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, SWSSX is a no load fund. It has an expense ratio of 0.04% compared to the category average of 0.78%. Looking at the fund from a cost perspective, SWSSX is actually cheaper than its peers.

Investors need to be aware that with this product, the minimum initial investment is $0; each subsequent investment has no minimum amount.

Bottom Line

Your research on the Mutual Fund Equity Report segment doesn't have to stop here. You can check out all the great mutual fund tools we have to offer by going to www.zacks.com/funds/mutual-funds to see the additional features we offer 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.