If investors are looking at the Large Cap Growth fund category, JPMorgan Large Cap Growth A (OLGAX Quick QuoteOLGAX - Free Report) could be a potential option. OLGAX possesses a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance.

Objective

OLGAX is part of the Large Cap Growth section, and this segment boasts an array of other possible options. Large Cap Growth mutual funds purchase stakes in numerous large U.S. companies that are expected to develop and grow at a faster rate than other large-cap stocks. Companies are usually considered to be large-cap if their market capitalization is over $10 billion.

History of Fund/Manager

J.P. Morgan is based in Boston, MA, and is the manager of OLGAX. JPMorgan Large Cap Growth A debuted in February of 1994. Since then, OLGAX has accumulated assets of about $7.47 billion, according to the most recently available information. The fund's current manager is a team of investment professionals.

Performance

Obviously, what investors are looking for in these funds is strong performance relative to their peers. This fund carries a 5-year annualized total return of 11.19%, 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 23.74%, 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, OLGAX's standard deviation comes in at 15%, compared to the category average of 11.17%. Over the past 5 years, the standard deviation of the fund is 17.31% compared to the category average of 13.34%. 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 1.06, which means it is hypothetically more volatile than the market at large. 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 -2.94, managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.

Holdings

Investigating 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.

The mutual fund currently has 83.47% of its holdings in stocks, which have an average market capitalization of $814.33 billion. The fund has the heaviest exposure to the following market sectors:

• Technology
• Retail Trade

With turnover at about 52%, this fund makes fewer trades than the average comparable fund.

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, OLGAX is a load fund. It has an expense ratio of 0.94% compared to the category average of 0.93%. From a cost perspective, OLGAX is actually more expensive than its peers.

While the minimum initial investment for the product is $1,000, investors should also note that each subsequent investment needs to 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, even with its comparatively similar performance, average downside risk, and higher fees, JPMorgan Large Cap Growth A ( OLGAX ) has a high Zacks Mutual Fund rank, and therefore looks a good potential choice for investors right now.

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