Looking for a Non US - Equity fund? You may want to consider ProFunds UltraEmerging Markets Investor (UUPIX Quick QuoteUUPIX - Free Report) as a possible option. While this fund is not tracked by the Zacks Mutual Fund Rank, we were able to examine other factors like performance, volatility, and cost.

Objective

Zacks categorizes UUPIX as Non US - Equity, a segment stacked high with options. Non US - Equity mutual funds like to invest in companies outside of the United States, an important characteristic since global mutual funds are known to keep a good portion of their portfolio stateside. These kinds of funds can often extend across all cap levels, and will typically allocate their investments between emerging and developed markets.

History of Fund/Manager

UUPIX is a part of the ProFunds family of funds, a company based out of Columbus, OH. Since ProFunds UltraEmerging Markets Investor made its debut in April of 2006, UUPIX has garnered more than $5.48 million in assets. The fund is currently managed by Alexander Ilyasov who has been in charge of the fund since August of 2020.

Performance

Obviously, what investors are looking for in these funds is strong performance relative to their peers. UUPIX has a 5-year annualized total return of 3.72% and it sits 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 -3.62%, 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 UUPIX over the past three years is 47.88% compared to the category average of 26.17%. The standard deviation of the fund over the past 5 years is 47.78% compared to the category average of 27.14%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

With a 5-year beta of 1.63, the fund is likely to be more volatile than the market average. 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. The fund has produced a negative alpha over the past 5 years of -10.32, which shows that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.

Expenses

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, UUPIX is a no load fund. It has an expense ratio of 1.78% compared to the category average of 1.43%. So, UUPIX is actually more expensive than its peers from a cost perspective.

While the minimum initial investment for the product is $15,000, investors should also note that there is no minimum for each subsequent investment.

Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.

Bottom Line

For additional information on this product, or to compare it to other mutual funds in the Non US - Equity, make sure to go to www.zacks.com/funds/mutual-funds 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.