If you've been stuck searching for Mutual Fund Equity Report funds, you might want to consider passing on by ProFunds UltraChina Investor (
UGPIX Quick Quote UGPIX - Free Report) as a possibility. UGPIX 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
ProFunds is based in Columbus, OH, and is the manager of UGPIX. Since ProFunds UltraChina Investor made its debut in February of 2008, UGPIX has garnered more than $19.45 million in assets. Scott Hanson is the fund's current manager and has held that role since August of 2016.
Of course, investors look for strong performance in funds. UGPIX has a 5-year annualized total return of -26.76% and is in the bottom third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of -33.01%, which places it in the bottom 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 26.75%, the standard deviation of UGPIX over the past three years is 51.91%. Over the past 5 years, the standard deviation of the fund is 49.56% compared to the category average of 24.25%. This makes the fund more volatile than its peers over the past half-decade.
Investors should note that the fund has a 5-year beta of 1.09, so it is likely going to be more 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. UGPIX has generated a negative alpha over the past five years of -27.98, demonstrating that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
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, UGPIX is a no load fund. It has an expense ratio of 1.67% compared to the category average of 1.49%. From a cost perspective, UGPIX is actually more expensive than its peers.
While the minimum initial investment for the product is $15,000, investors should also note that there is no minimum for each subsequent investment.
Overall, ProFunds UltraChina Investor ( UGPIX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, worse downside risk, and higher fees, ProFunds UltraChina Investor ( UGPIX ) looks like a somewhat weak choice for investors right now.
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