Having trouble finding a Mutual Fund Equity Report fund? Invesco SteelPath MLP Select 40 Fund Class A (
MLPFX Quick Quote MLPFX - Free Report) is a potential starting point. MLPFX bears a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance. History of Fund/Manager
MLPFX is a part of the Invesco family of funds, a company based out of Kansas City, MO. Since Invesco SteelPath MLP Select 40 Fund Class A made its debut in April of 2010, MLPFX has garnered more than $380.64 million in assets. Stuart Cartner is the fund's current manager and has held that role since April of 2010.
Obviously, what investors are looking for in these funds is strong performance relative to their peers. This fund carries a 5-year annualized total return of 4.34%, 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 13.2%, 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, MLPFX's standard deviation comes in at 46.32%, compared to the category average of 21.88%. The standard deviation of the fund over the past 5 years is 37.35% compared to the category average of 20.13%. 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 1.38, which means it is hypothetically 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. With a negative alpha of -2.55, managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
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, MLPFX is a load fund. It has an expense ratio of 1.15% compared to the category average of 1.47%. MLPFX is actually cheaper than its peers when you consider factors like cost.
While the minimum initial investment for the product is $1,000, investors should also note that each subsequent investment needs to be at least $50.
Overall, Invesco SteelPath MLP Select 40 Fund Class A ( MLPFX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, worse downside risk, and lower fees, Invesco SteelPath MLP Select 40 Fund Class A ( MLPFX ) 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 MLPFX too for additional information. For analysis of the rest of your portfolio, make sure to visit Zacks.com for our full suite of tools which will help you investigate all of your stocks and funds in one place.