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Is Parnassus Core Equity Investor (PRBLX) a Strong Mutual Fund Pick Right Now?
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Having trouble finding a Mutual Fund Equity Report fund? Parnassus Core Equity Investor (PRBLX - Free Report) is a potential starting point. PRBLX possesses a Zacks Mutual Fund Rank of 2 (Buy), which is based on nine forecasting factors like size, cost, and past performance.
History of Fund/Manager
Parnassus is based in San Francisco, CA, and is the manager of PRBLX. The Parnassus Core Equity Investor made its debut in September of 1992 and PRBLX has managed to accumulate roughly $11.97 billion in assets, as of the most recently available information. The fund is currently managed by a team of investment professionals.
Performance
Investors naturally seek funds with strong performance. This fund carries a 5-year annualized total return of 12.28%, 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 10.81%, 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. PRBLX's standard deviation over the past three years is 17.64% compared to the category average of 17.52%. The standard deviation of the fund over the past 5 years is 15.83% compared to the category average of 15.72%. 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. PRBLX has a 5-year beta of 0.88, which means it is likely to be less 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 1.52, managers in this portfolio are skilled in picking 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 principally on equities that are traded in the United States.
Right now, 81.66% of this mutual fund's holdings are stocks, which have an average market capitalization of $329.82 billion. The fund has the heaviest exposure to the following market sectors:
Technology
Industrial Cyclical
Non-Durable
Finance
Turnover is 25.82%, which means, on average, the fund makes fewer trades than comparable funds.
Expenses
As competition heats up in the mutual fund market, costs become increasingly important. Compared to its otherwise identical counterpart, a low-cost product will be an outperformer, all other things being equal. Thus, taking a closer look at cost-related metrics is vital for investors. In terms of fees, PRBLX is a no load fund. It has an expense ratio of 0.82% compared to the category average of 0.99%. PRBLX is actually cheaper than its peers when you consider factors like cost.
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 Investor ( PRBLX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, this fund looks like a good 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 PRBLX 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 Parnassus Core Equity Investor (PRBLX) a Strong Mutual Fund Pick Right Now?
Having trouble finding a Mutual Fund Equity Report fund? Parnassus Core Equity Investor (PRBLX - Free Report) is a potential starting point. PRBLX possesses a Zacks Mutual Fund Rank of 2 (Buy), which is based on nine forecasting factors like size, cost, and past performance.
History of Fund/Manager
Parnassus is based in San Francisco, CA, and is the manager of PRBLX. The Parnassus Core Equity Investor made its debut in September of 1992 and PRBLX has managed to accumulate roughly $11.97 billion in assets, as of the most recently available information. The fund is currently managed by a team of investment professionals.
Performance
Investors naturally seek funds with strong performance. This fund carries a 5-year annualized total return of 12.28%, 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 10.81%, 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. PRBLX's standard deviation over the past three years is 17.64% compared to the category average of 17.52%. The standard deviation of the fund over the past 5 years is 15.83% compared to the category average of 15.72%. 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. PRBLX has a 5-year beta of 0.88, which means it is likely to be less 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 1.52, managers in this portfolio are skilled in picking 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 principally on equities that are traded in the United States.
Right now, 81.66% of this mutual fund's holdings are stocks, which have an average market capitalization of $329.82 billion. The fund has the heaviest exposure to the following market sectors:
- Technology
- Industrial Cyclical
- Non-Durable
- Finance
Turnover is 25.82%, which means, on average, the fund makes fewer trades than comparable funds.Expenses
As competition heats up in the mutual fund market, costs become increasingly important. Compared to its otherwise identical counterpart, a low-cost product will be an outperformer, all other things being equal. Thus, taking a closer look at cost-related metrics is vital for investors. In terms of fees, PRBLX is a no load fund. It has an expense ratio of 0.82% compared to the category average of 0.99%. PRBLX is actually cheaper than its peers when you consider factors like cost.
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 Investor ( PRBLX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, this fund looks like a good 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 PRBLX 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.