Looking for a Sector - Energy fund? You may want to consider Invesco SteelPath MLP Income C (MLPRX Quick QuoteMLPRX - Free Report) as a possible option. MLPRX bears a Zacks Mutual Fund Rank of 3 (Hold), which is based on various forecasting factors like size, cost, and past performance.

Objective

MLPRX is one of many Sector - Energy funds to choose from. Sector - Energy mutual funds are comprised of various changing and hugely important industries throughout the massive global energy sector. Even though clean energy is beginning to pick up steam, oil and gas companies have the highest exposure, but carbon-based fuels will be the biggest group of assets in these funds.

History of Fund/Manager

Invesco is responsible for MLPRX, and the company is based out of Kansas City, MO. Invesco SteelPath MLP Income C debuted in May of 2011. Since then, MLPRX has accumulated assets of about $559.63 million, according to the most recently available information. Stuart Cartner is the fund's current manager and has held that role since May of 2011.

Performance

Investors naturally seek funds with strong performance. MLPRX has a 5-year annualized total return of 21.03%, 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 21.99%, 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. Compared to the category average of 11.7%, the standard deviation of MLPRX over the past three years is 12.91%. The fund's standard deviation over the past 5 years is 16.25% compared to the category average of 13.82%. 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 0.48, so it is likely going to be less 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. The fund has produced a positive alpha over the past 5 years of 12.49, which shows that managers in this portfolio are skilled in picking 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, MLPRX is a no load fund. It has an expense ratio of 2.08% compared to the category average of 1.02%. MLPRX is actually more expensive than its peers when you consider factors like cost.

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, even with its comparatively weak performance, average downside risk, and higher fees, Invesco SteelPath MLP Income C ( MLPRX ) has a neutral Zacks Mutual Fund rank, and therefore looks a somewhat average choice for investors right now.

This could just be the start of your research on MLPRX in the Sector - Energy category. Consider going to www.zacks.com/funds/mutual-funds for additional information about this fund, and all the others that we rank as well for additional information. Zacks provides a full suite of tools to help you analyze your portfolio - both funds and stocks - in the most efficient way possible.