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Is Hartford Growth Opportunities A (HGOAX) a Strong Mutual Fund Pick Right Now?
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There are plenty of choices in the Mid Cap Growth category, but where should you start your research? Well, one fund that you should consider investigating is Hartford Growth Opportunities A (HGOAX - Free Report) . HGOAX holds a Zacks Mutual Fund Rank of 3 (Hold), which is based on various forecasting factors like size, cost, and past performance.
Objective
We note that HGOAX 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
Hartford is based in Woodbury, MN, and is the manager of HGOAX. Since Hartford Growth Opportunities A made its debut in March of 1963, HGOAX has garnered more than $2.77 billion in assets. The fund is currently managed by Mario Abularach who has been in charge of the fund since March of 2006.
Performance
Of course, investors look for strong performance in funds. HGOAX has a 5-year annualized total return of 17.16% and is in the middle third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 8.06%, which places it in the middle 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, HGOAX's standard deviation comes in at 24.18%, compared to the category average of 14.83%. The standard deviation of the fund over the past 5 years is 23.46% compared to the category average of 15.8%. 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. HGOAX has a 5-year beta of 1.24, 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. With a negative alpha of -3.71, 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, HGOAX is a load fund. It has an expense ratio of 1.10% compared to the category average of 0.95%. HGOAX 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 $2,000; 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, even with its comparatively similar performance, worse downside risk, and higher fees, Hartford Growth Opportunities A ( HGOAX ) has a neutral Zacks Mutual Fund rank, and therefore looks a somewhat average choice for investors right now.
Don't stop here for your research on Mid Cap Growth funds. We also have plenty more on our site in order to help you find the best possible fund for your portfolio. Make sure to check out www.zacks.com/funds/mutual-funds for more information about the world of funds, and feel free to compare HGOAX to its peers 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 Hartford Growth Opportunities A (HGOAX) a Strong Mutual Fund Pick Right Now?
There are plenty of choices in the Mid Cap Growth category, but where should you start your research? Well, one fund that you should consider investigating is Hartford Growth Opportunities A (HGOAX - Free Report) . HGOAX holds a Zacks Mutual Fund Rank of 3 (Hold), which is based on various forecasting factors like size, cost, and past performance.
Objective
We note that HGOAX 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
Hartford is based in Woodbury, MN, and is the manager of HGOAX. Since Hartford Growth Opportunities A made its debut in March of 1963, HGOAX has garnered more than $2.77 billion in assets. The fund is currently managed by Mario Abularach who has been in charge of the fund since March of 2006.
Performance
Of course, investors look for strong performance in funds. HGOAX has a 5-year annualized total return of 17.16% and is in the middle third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 8.06%, which places it in the middle 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, HGOAX's standard deviation comes in at 24.18%, compared to the category average of 14.83%. The standard deviation of the fund over the past 5 years is 23.46% compared to the category average of 15.8%. 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. HGOAX has a 5-year beta of 1.24, 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. With a negative alpha of -3.71, 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, HGOAX is a load fund. It has an expense ratio of 1.10% compared to the category average of 0.95%. HGOAX 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 $2,000; 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, even with its comparatively similar performance, worse downside risk, and higher fees, Hartford Growth Opportunities A ( HGOAX ) has a neutral Zacks Mutual Fund rank, and therefore looks a somewhat average choice for investors right now.
Don't stop here for your research on Mid Cap Growth funds. We also have plenty more on our site in order to help you find the best possible fund for your portfolio. Make sure to check out www.zacks.com/funds/mutual-funds for more information about the world of funds, and feel free to compare HGOAX to its peers 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.