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Is PRIMECAP Odyssey Growth Fund (POGRX) a Strong Mutual Fund Pick Right Now?
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Any investors hoping to find a Large Cap Growth fund could think about starting with PRIMECAP Odyssey Growth Fund (POGRX - Free Report) . POGRX has a Zacks Mutual Fund Rank of 3 (Hold), which is based on nine forecasting factors like size, cost, and past performance.
Objective
POGRX is classified in the Large Cap Growth segment by Zacks, an area full of possibilities. Companies are usually considered to be large-cap if their stock market valuation is more than $10 billion. Large Cap Growth mutual funds invest in many large U.S. firms that are projected to grow at a faster rate than their large-cap peers.
History of Fund/Manager
Primecap Odyssey is based in Pasadena, CA, and is the manager of POGRX. PRIMECAP Odyssey Growth Fund debuted in November of 2004. Since then, POGRX has accumulated assets of about $12.96 billion, according to the most recently available information. The fund is currently managed by a team of investment professionals.
Performance
Investors naturally seek funds with strong performance. POGRX has a 5-year annualized total return of 16.46% and it sits in the top 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 16.01%, which places it in the top third during this time-frame.
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. POGRX's standard deviation over the past three years is 14.09% compared to the category average of 11.88%. The fund's standard deviation over the past 5 years is 12.68% compared to the category average of 11.33%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
Investors should always remember the downsides to a potential investment, and this segment carries some risks one should be aware of. In the most recent bear market, POGRX lost 47.42% and underperformed comparable funds by 1.55%. This makes the fund a possibly worse choice than its peers during a sliding market environment.
Even still, the fund has a 5-year beta of 1.06, so investors should note that 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. POGRX has generated a positive alpha over the past five years of 2.26, demonstrating 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, POGRX is a no load fund. It has an expense ratio of 0.66% compared to the category average of 1.10%. From a cost perspective, POGRX is actually cheaper than its peers.
Investors should also note that the minimum initial investment for the product is $2,000 and that each subsequent investment needs to be at $100.
Bottom Line
Overall, PRIMECAP Odyssey Growth Fund has a neutral Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, this fund looks like a somewhat average choice for investors right now.
This could just be the start of your research on POGRXin the Large Cap Growth 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. 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 PRIMECAP Odyssey Growth Fund (POGRX) a Strong Mutual Fund Pick Right Now?
Any investors hoping to find a Large Cap Growth fund could think about starting with PRIMECAP Odyssey Growth Fund (POGRX - Free Report) . POGRX has a Zacks Mutual Fund Rank of 3 (Hold), which is based on nine forecasting factors like size, cost, and past performance.
Objective
POGRX is classified in the Large Cap Growth segment by Zacks, an area full of possibilities. Companies are usually considered to be large-cap if their stock market valuation is more than $10 billion. Large Cap Growth mutual funds invest in many large U.S. firms that are projected to grow at a faster rate than their large-cap peers.
History of Fund/Manager
Primecap Odyssey is based in Pasadena, CA, and is the manager of POGRX. PRIMECAP Odyssey Growth Fund debuted in November of 2004. Since then, POGRX has accumulated assets of about $12.96 billion, according to the most recently available information. The fund is currently managed by a team of investment professionals.
Performance
Investors naturally seek funds with strong performance. POGRX has a 5-year annualized total return of 16.46% and it sits in the top 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 16.01%, which places it in the top third during this time-frame.
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. POGRX's standard deviation over the past three years is 14.09% compared to the category average of 11.88%. The fund's standard deviation over the past 5 years is 12.68% compared to the category average of 11.33%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
Investors should always remember the downsides to a potential investment, and this segment carries some risks one should be aware of. In the most recent bear market, POGRX lost 47.42% and underperformed comparable funds by 1.55%. This makes the fund a possibly worse choice than its peers during a sliding market environment.
Even still, the fund has a 5-year beta of 1.06, so investors should note that 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. POGRX has generated a positive alpha over the past five years of 2.26, demonstrating 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, POGRX is a no load fund. It has an expense ratio of 0.66% compared to the category average of 1.10%. From a cost perspective, POGRX is actually cheaper than its peers.
Investors should also note that the minimum initial investment for the product is $2,000 and that each subsequent investment needs to be at $100.
Bottom Line
Overall, PRIMECAP Odyssey Growth Fund has a neutral Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, this fund looks like a somewhat average choice for investors right now.
This could just be the start of your research on POGRXin the Large Cap Growth 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. 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.