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Is Red Oak Technology Select (ROGSX) a Strong Mutual Fund Pick Right Now?
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Having trouble finding a Sector - Tech fund? Red Oak Technology Select (ROGSX - Free Report) is a possible starting point. ROGSX carries a Zacks Mutual Fund Rank of 3 (Hold), which is based on various forecasting factors like size, cost, and past performance.
Objective
ROGSX is part of the Sector - Tech category, which boasts an array of different possible selections. With a much more diversified approach, Sector - Tech mutual funds give investors a way to own a stake in a notoriously risky sector. Tech companies are in various industries like semiconductors, software, internet, and networking, among others.
History of Fund/Manager
ROGSX is a part of the Oak Associates family of funds, a company based out of Akron, OH. The Red Oak Technology Select made its debut in December of 1998 and ROGSX has managed to accumulate roughly $696.14 million in assets, as of the most recently available information. The fund is currently managed by Robert D. Stimpson who has been in charge of the fund since January of 2019.
Performance
Investors naturally seek funds with strong performance. This fund in particular has delivered a 5-year annualized total return of 13.35%, and is in the top third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 27.2%, 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. The standard deviation of ROGSX over the past three years is 16.26% compared to the category average of 19.72%. Looking at the past 5 years, the fund's standard deviation is 19.38% compared to the category average of 22.92%. This makes the fund less volatile than its peers over the past half-decade.
Risk Factors
Investors should note that the fund has a 5-year beta of 1.18, so it is likely going to be 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. With a negative alpha of -2.05, managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
Holdings
Exploring 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.
Right now, 90.65% of this mutual fund's holdings are stocks, which have an average market capitalization of $723.53 billion. The fund has the heaviest exposure to the following market sectors:
Technology
Turnover is about 4%, so those in charge of the fund make fewer trades than the average comparable fund.
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, ROGSX is a no load fund. It has an expense ratio of 0.90% compared to the category average of 1.17%. So, ROGSX is actually cheaper than its peers from a cost perspective.
This fund requires a minimum initial investment of $2,000, and each subsequent investment should be at least $25.
Fees charged by investment advisors have not been taken into consideration. Returns would be less if those were included.
Bottom Line
Overall, Red Oak Technology Select ( ROGSX ) has a neutral Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, Red Oak Technology Select ( ROGSX ) looks like a somewhat average choice for investors right now.
Want even more information about ROGSX? Then go over to Zacks.com and check out our mutual fund comparison tool, and all of the other great features that we have to help you with your mutual fund analysis 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 Red Oak Technology Select (ROGSX) a Strong Mutual Fund Pick Right Now?
Having trouble finding a Sector - Tech fund? Red Oak Technology Select (ROGSX - Free Report) is a possible starting point. ROGSX carries a Zacks Mutual Fund Rank of 3 (Hold), which is based on various forecasting factors like size, cost, and past performance.
Objective
ROGSX is part of the Sector - Tech category, which boasts an array of different possible selections. With a much more diversified approach, Sector - Tech mutual funds give investors a way to own a stake in a notoriously risky sector. Tech companies are in various industries like semiconductors, software, internet, and networking, among others.
History of Fund/Manager
ROGSX is a part of the Oak Associates family of funds, a company based out of Akron, OH. The Red Oak Technology Select made its debut in December of 1998 and ROGSX has managed to accumulate roughly $696.14 million in assets, as of the most recently available information. The fund is currently managed by Robert D. Stimpson who has been in charge of the fund since January of 2019.
Performance
Investors naturally seek funds with strong performance. This fund in particular has delivered a 5-year annualized total return of 13.35%, and is in the top third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 27.2%, 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. The standard deviation of ROGSX over the past three years is 16.26% compared to the category average of 19.72%. Looking at the past 5 years, the fund's standard deviation is 19.38% compared to the category average of 22.92%. This makes the fund less volatile than its peers over the past half-decade.
Risk Factors
Investors should note that the fund has a 5-year beta of 1.18, so it is likely going to be 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. With a negative alpha of -2.05, managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
Holdings
Exploring 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.
Right now, 90.65% of this mutual fund's holdings are stocks, which have an average market capitalization of $723.53 billion. The fund has the heaviest exposure to the following market sectors:
Turnover is about 4%, so those in charge of the fund make fewer trades than the average comparable fund.
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, ROGSX is a no load fund. It has an expense ratio of 0.90% compared to the category average of 1.17%. So, ROGSX is actually cheaper than its peers from a cost perspective.
This fund requires a minimum initial investment of $2,000, and each subsequent investment should be at least $25.
Fees charged by investment advisors have not been taken into consideration. Returns would be less if those were included.
Bottom Line
Overall, Red Oak Technology Select ( ROGSX ) has a neutral Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, Red Oak Technology Select ( ROGSX ) looks like a somewhat average choice for investors right now.
Want even more information about ROGSX? Then go over to Zacks.com and check out our mutual fund comparison tool, and all of the other great features that we have to help you with your mutual fund analysis 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.