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Is Eventide Gilead Fund N (ETGLX) a Strong Mutual Fund Pick Right Now?
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If you have been looking for Mid Cap Growth funds, it would not be wise to start your search with Eventide Gilead Fund N (ETGLX - Free Report) . ETGLX bears a Zacks Mutual Fund Rank of 5 (Strong Sell), which is based on various forecasting factors like size, cost, and past performance.
Objective
We note that ETGLX is a Mid Cap Growth fund, and this area is also loaded with many different options. Companies are usually considered growth stocks when they consistently report notable sales and/or earnings growth. Thus, Mid Cap Growth funds pick stocks--usually companies with a market cap between $2 billion and $10 billion--that demonstrate extensive growth opportunities for investors compared to their peers.
History of Fund/Manager
Eventide is based in Willow Grove, PA, and is the manager of ETGLX. Eventide Gilead Fund N made its debut in July of 2008, and since then, ETGLX has accumulated about $428.04 million in assets, per the most up-to-date date available. The fund is currently managed by Finny Kuruvilla who has been in charge of the fund since July of 2008.
Performance
Investors naturally seek funds with strong performance. This fund carries a 5-year annualized total return of 6.19%, and is in the bottom 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 -8.15%, 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 ETGLX over the past three years is 21.37% compared to the category average of 16.24%. Over the past 5 years, the standard deviation of the fund is 23.15% compared to the category average of 17.03%. 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. ETGLX has a 5-year beta of 1.07, which means it is likely to be more volatile than the market average. Another factor to consider is alpha, as it reflects a portfolio's performance on a risk-adjusted basis relative to a benchmark-in this case, the S&P 500. Over the past 5 years, the fund has a negative alpha of -7.67. This means 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 primarily on equities that are traded in the United States.
Currently, this mutual fund is holding 75.35% in stocks, with an average market capitalization of $37.29 billion. The fund has the heaviest exposure to the following market sectors:
Technology
Industrial Cyclical
Health
Other
With turnover at about 34%, this fund is making 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, ETGLX is a no load fund. It has an expense ratio of 1.36% compared to the category average of 0.97%. ETGLX is actually more expensive than its peers when you consider factors like cost.
Investors need to be aware that with this product, the minimum initial investment is $1,000; each subsequent investment needs to be at least $50.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, Eventide Gilead Fund N ( ETGLX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, worse downside risk, and higher fees, this fund looks like a somewhat weak choice for investors right now.
This could just be the start of your research on ETGLXin the Mid Cap Growth 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 want to check out our stock reports as well, make sure to go to Zacks.com to see all of the great tools we have to offer, including our time-tested Zacks Rank.
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Is Eventide Gilead Fund N (ETGLX) a Strong Mutual Fund Pick Right Now?
If you have been looking for Mid Cap Growth funds, it would not be wise to start your search with Eventide Gilead Fund N (ETGLX - Free Report) . ETGLX bears a Zacks Mutual Fund Rank of 5 (Strong Sell), which is based on various forecasting factors like size, cost, and past performance.
Objective
We note that ETGLX is a Mid Cap Growth fund, and this area is also loaded with many different options. Companies are usually considered growth stocks when they consistently report notable sales and/or earnings growth. Thus, Mid Cap Growth funds pick stocks--usually companies with a market cap between $2 billion and $10 billion--that demonstrate extensive growth opportunities for investors compared to their peers.
History of Fund/Manager
Eventide is based in Willow Grove, PA, and is the manager of ETGLX. Eventide Gilead Fund N made its debut in July of 2008, and since then, ETGLX has accumulated about $428.04 million in assets, per the most up-to-date date available. The fund is currently managed by Finny Kuruvilla who has been in charge of the fund since July of 2008.
Performance
Investors naturally seek funds with strong performance. This fund carries a 5-year annualized total return of 6.19%, and is in the bottom 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 -8.15%, 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 ETGLX over the past three years is 21.37% compared to the category average of 16.24%. Over the past 5 years, the standard deviation of the fund is 23.15% compared to the category average of 17.03%. 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. ETGLX has a 5-year beta of 1.07, which means it is likely to be more volatile than the market average. Another factor to consider is alpha, as it reflects a portfolio's performance on a risk-adjusted basis relative to a benchmark-in this case, the S&P 500. Over the past 5 years, the fund has a negative alpha of -7.67. This means 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 primarily on equities that are traded in the United States.
Currently, this mutual fund is holding 75.35% in stocks, with an average market capitalization of $37.29 billion. The fund has the heaviest exposure to the following market sectors:
- Technology
- Industrial Cyclical
- Health
- Other
With turnover at about 34%, this fund is making 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, ETGLX is a no load fund. It has an expense ratio of 1.36% compared to the category average of 0.97%. ETGLX is actually more expensive than its peers when you consider factors like cost.
Investors need to be aware that with this product, the minimum initial investment is $1,000; each subsequent investment needs to be at least $50.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, Eventide Gilead Fund N ( ETGLX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, worse downside risk, and higher fees, this fund looks like a somewhat weak choice for investors right now.
This could just be the start of your research on ETGLXin the Mid Cap Growth 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 want to check out our stock reports as well, make sure to go to Zacks.com to see all of the great tools we have to offer, including our time-tested Zacks Rank.