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Is Invesco Summit A (ASMMX) a Strong Mutual Fund Pick Right Now?
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If you've been stuck searching for Mutual Fund Equity Report funds, you might want to consider passing on by Invesco Summit A (ASMMX - Free Report) as a possibility. ASMMX holds a Zacks Mutual Fund Rank of 4 (Sell), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
Invesco is based in Kansas City, MO, and is the manager of ASMMX. Invesco Summit A debuted in November of 2005. Since then, ASMMX has accumulated assets of about $326.12 million, 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. This fund has delivered a 5-year annualized total return of 9.24%, and it sits in the bottom 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 5.82%, which places it in the bottom third during this time-frame.
It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.
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 ASMMX over the past three years is 20.96% compared to the category average of 18.12%. Looking at the past 5 years, the fund's standard deviation is 21.54% compared to the category average of 15.96%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
The fund has a 5-year beta of 1.08, so investors should note that 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. ASMMX's 5-year performance has produced a negative alpha of -1.86, which means managers in this portfolio find it difficult to pick 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 largely on equities that are traded in the United States.
Right now, 97.26% of this mutual fund's holdings are stocks, with an average market capitalization of $258.90 billion. The fund has the heaviest exposure to the following market sectors:
Technology
Industrial Cyclical
Turnover is about 78%, so those in charge of the fund make more trades in a given year than the category average.
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, ASMMX is a load fund. It has an expense ratio of 0.99% compared to the category average of 0.99%. From a cost perspective, ASMMX is actually on par with its peers.
Investors should also note that the minimum initial investment for the product is $1,000 and that each subsequent investment needs to be at $50
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, Invesco Summit A ( ASMMX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, worse downside risk, and on par fees, this fund looks like a somewhat weak choice for investors right now.
This could just be the start of your research on ASMMXin the Mutual Fund Equity Report category. Consider going to www.zacks.com/funds/mutual-funds for additional information about this fund, and all the others that we rank as well for additional information. If you are more of a stock investor, make sure to also check out our Zacks Rank, and our full suite of tools we have available for novice and professional investors alike.
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Is Invesco Summit A (ASMMX) a Strong Mutual Fund Pick Right Now?
If you've been stuck searching for Mutual Fund Equity Report funds, you might want to consider passing on by Invesco Summit A (ASMMX - Free Report) as a possibility. ASMMX holds a Zacks Mutual Fund Rank of 4 (Sell), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
Invesco is based in Kansas City, MO, and is the manager of ASMMX. Invesco Summit A debuted in November of 2005. Since then, ASMMX has accumulated assets of about $326.12 million, 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. This fund has delivered a 5-year annualized total return of 9.24%, and it sits in the bottom 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 5.82%, which places it in the bottom third during this time-frame.
It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.
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 ASMMX over the past three years is 20.96% compared to the category average of 18.12%. Looking at the past 5 years, the fund's standard deviation is 21.54% compared to the category average of 15.96%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
The fund has a 5-year beta of 1.08, so investors should note that 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. ASMMX's 5-year performance has produced a negative alpha of -1.86, which means managers in this portfolio find it difficult to pick 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 largely on equities that are traded in the United States.
Right now, 97.26% of this mutual fund's holdings are stocks, with an average market capitalization of $258.90 billion. The fund has the heaviest exposure to the following market sectors:
- Technology
- Industrial Cyclical
Turnover is about 78%, so those in charge of the fund make more trades in a given year than the category average.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, ASMMX is a load fund. It has an expense ratio of 0.99% compared to the category average of 0.99%. From a cost perspective, ASMMX is actually on par with its peers.
Investors should also note that the minimum initial investment for the product is $1,000 and that each subsequent investment needs to be at $50
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, Invesco Summit A ( ASMMX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, worse downside risk, and on par fees, this fund looks like a somewhat weak choice for investors right now.
This could just be the start of your research on ASMMXin the Mutual Fund Equity Report category. Consider going to www.zacks.com/funds/mutual-funds for additional information about this fund, and all the others that we rank as well for additional information. If you are more of a stock investor, make sure to also check out our Zacks Rank, and our full suite of tools we have available for novice and professional investors alike.