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Is Oppenheimer SteelPath MLP Income A (MLPDX) a Strong Mutual Fund Pick Right Now?
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If you've been stuck searching for Sector - Energy funds, consider Oppenheimer SteelPath MLP Income A (MLPDX - Free Report) as a possibility. MLPDX carries a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on various forecasting factors like size, cost, and past performance.
Objective
Zacks categorizes MLPDX as Sector - Energy, a segment packed with options. Sector - Energy mutual funds encompass a wide range of vastly changing and vitally important industries throughout this massive global sector. Oil and gas comprise the bulk of the exposure here, and carbon-based fuels are going to be the majority of assets in these funds. However, clean energy is starting to pick up steam.
History of Fund/Manager
MLPDX finds itself in the Invesco family, based out of Kansas City, MO. The Oppenheimer SteelPath MLP Income A made its debut in April of 2010 and MLPDX has managed to accumulate roughly $1.93 billion in assets, as of the most recently available information. The fund is currently managed by Stuart Cartner who has been in charge of the fund since April of 2010.
Performance
Investors naturally seek funds with strong performance. MLPDX has a 5-year annualized total return of 15.06% and it sits in the middle 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 23.37%, 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. Over the past three years, MLPDX's standard deviation comes in at 17.23%, compared to the category average of 15.3%. The standard deviation of the fund over the past 5 years is 42.36% compared to the category average of 20.39%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
Investors should note that the fund has a 5-year beta of 1.53, which means it is hypothetically more volatile than the market at large. 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. MLPDX's 5-year performance has produced a positive alpha of 1.49, which means managers in this portfolio are skilled in picking 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, MLPDX is a load fund. It has an expense ratio of 1.37% compared to the category average of 1.08%. MLPDX is actually more expensive than its peers when you consider factors like cost.
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, even with its comparatively similar performance, worse downside risk, and higher fees, Oppenheimer SteelPath MLP Income A ( MLPDX ) has a high Zacks Mutual Fund rank, and therefore looks a good potential choice for investors right now.
For additional information on the Sector - Energy 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 MLPDX 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 Oppenheimer SteelPath MLP Income A (MLPDX) a Strong Mutual Fund Pick Right Now?
If you've been stuck searching for Sector - Energy funds, consider Oppenheimer SteelPath MLP Income A (MLPDX - Free Report) as a possibility. MLPDX carries a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on various forecasting factors like size, cost, and past performance.
Objective
Zacks categorizes MLPDX as Sector - Energy, a segment packed with options. Sector - Energy mutual funds encompass a wide range of vastly changing and vitally important industries throughout this massive global sector. Oil and gas comprise the bulk of the exposure here, and carbon-based fuels are going to be the majority of assets in these funds. However, clean energy is starting to pick up steam.
History of Fund/Manager
MLPDX finds itself in the Invesco family, based out of Kansas City, MO. The Oppenheimer SteelPath MLP Income A made its debut in April of 2010 and MLPDX has managed to accumulate roughly $1.93 billion in assets, as of the most recently available information. The fund is currently managed by Stuart Cartner who has been in charge of the fund since April of 2010.
Performance
Investors naturally seek funds with strong performance. MLPDX has a 5-year annualized total return of 15.06% and it sits in the middle 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 23.37%, 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. Over the past three years, MLPDX's standard deviation comes in at 17.23%, compared to the category average of 15.3%. The standard deviation of the fund over the past 5 years is 42.36% compared to the category average of 20.39%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
Investors should note that the fund has a 5-year beta of 1.53, which means it is hypothetically more volatile than the market at large. 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. MLPDX's 5-year performance has produced a positive alpha of 1.49, which means managers in this portfolio are skilled in picking 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, MLPDX is a load fund. It has an expense ratio of 1.37% compared to the category average of 1.08%. MLPDX is actually more expensive than its peers when you consider factors like cost.
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, even with its comparatively similar performance, worse downside risk, and higher fees, Oppenheimer SteelPath MLP Income A ( MLPDX ) has a high Zacks Mutual Fund rank, and therefore looks a good potential choice for investors right now.
For additional information on the Sector - Energy 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 MLPDX 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.