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Is Eventide Gilead Fund N (ETGLX) a Strong Mutual Fund Pick Right Now?
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Mid Cap Growth fund seekers should not consider taking a look at Eventide Gilead Fund N (ETGLX - Free Report) at this time. ETGLX possesses a Zacks Mutual Fund Rank of 5 (Strong Sell), which is based on various forecasting factors like size, cost, and past performance.
Objective
Zacks categorizes ETGLX as Mid Cap Growth, a segment packed with options. Mid Cap Growth mutual funds aim to target companies with a market capitalization between $2 billion and $10 billion that are also expected to exhibit more extensive growth opportunities for investors than their peers. A firm is typically considered to be a growth stock if it consistently posts impressive sales and/or earnings growth.
History of Fund/Manager
ETGLX finds itself in the Eventide family, based out of Willow Grove, PA. Eventide Gilead Fund N made its debut in July of 2008, and since then, ETGLX has accumulated about $289.16 million in assets, per the most up-to-date date available. Finny Kuruvilla is the fund's current manager and has held that role since July of 2008.
Performance
Investors naturally seek funds with strong performance. ETGLX has a 5-year annualized total return of 5.64%, and is 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 9.34%, 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, ETGLX's standard deviation comes in at 20.92%, compared to the category average of 15.75%. Looking at the past 5 years, the fund's standard deviation is 21.1% compared to the category average of 15.31%. 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 1.07, which means 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. Over the past 5 years, the fund has a negative alpha of -9.57. This means that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
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 1.40% compared to the category average of 0.97%. From a cost perspective, ETGLX is actually more expensive than its peers.
This fund requires a minimum initial investment of $1,000, and each subsequent investment should be at least $50.
Fees charged by investment advisors have not been taken into consideration. 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, Eventide Gilead Fund N ( ETGLX ) looks like a somewhat weak choice for investors right now.
Your research on the Mid Cap Growth segment doesn't have to stop here. You can check out all the great mutual fund tools we have to offer by going to www.zacks.com/funds/mutual-funds to see the additional features we offer 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 Eventide Gilead Fund N (ETGLX) a Strong Mutual Fund Pick Right Now?
Mid Cap Growth fund seekers should not consider taking a look at Eventide Gilead Fund N (ETGLX - Free Report) at this time. ETGLX possesses a Zacks Mutual Fund Rank of 5 (Strong Sell), which is based on various forecasting factors like size, cost, and past performance.
Objective
Zacks categorizes ETGLX as Mid Cap Growth, a segment packed with options. Mid Cap Growth mutual funds aim to target companies with a market capitalization between $2 billion and $10 billion that are also expected to exhibit more extensive growth opportunities for investors than their peers. A firm is typically considered to be a growth stock if it consistently posts impressive sales and/or earnings growth.
History of Fund/Manager
ETGLX finds itself in the Eventide family, based out of Willow Grove, PA. Eventide Gilead Fund N made its debut in July of 2008, and since then, ETGLX has accumulated about $289.16 million in assets, per the most up-to-date date available. Finny Kuruvilla is the fund's current manager and has held that role since July of 2008.
Performance
Investors naturally seek funds with strong performance. ETGLX has a 5-year annualized total return of 5.64%, and is 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 9.34%, 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, ETGLX's standard deviation comes in at 20.92%, compared to the category average of 15.75%. Looking at the past 5 years, the fund's standard deviation is 21.1% compared to the category average of 15.31%. 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 1.07, which means 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. Over the past 5 years, the fund has a negative alpha of -9.57. This means that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
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 1.40% compared to the category average of 0.97%. From a cost perspective, ETGLX is actually more expensive than its peers.
This fund requires a minimum initial investment of $1,000, and each subsequent investment should be at least $50.
Fees charged by investment advisors have not been taken into consideration. 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, Eventide Gilead Fund N ( ETGLX ) looks like a somewhat weak choice for investors right now.
Your research on the Mid Cap Growth segment doesn't have to stop here. You can check out all the great mutual fund tools we have to offer by going to www.zacks.com/funds/mutual-funds to see the additional features we offer 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.