We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Is ProFunds UltraNASDAQ-100 Fund Investor (UOPIX) a Strong Mutual Fund Pick Right Now?
Read MoreHide Full Article
If you've been stuck searching for Index funds, consider ProFunds UltraNASDAQ-100 Fund Investor (UOPIX - Free Report) as a possibility. While this fund is not tracked by the Zacks Mutual Fund Rank, we were able to examine other factors like performance, volatility, and cost.
History of Fund/Manager
ProFunds is responsible for UOPIX, and the company is based out of Columbus, OH. The ProFunds UltraNASDAQ-100 Fund Investor made its debut in December of 1997 and UOPIX has managed to accumulate roughly $383.20 million in assets, as of the most recently available information. Michael Neches is the fund's current manager and has held that role since October of 2013.
Performance
Investors naturally seek funds with strong performance. This fund in particular has delivered a 5-year annualized total return of 31.24%, and is 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 41.16%, 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. UOPIX's standard deviation over the past three years is 28.17% compared to the category average of 8.24%. Looking at the past 5 years, the fund's standard deviation is 29.35% compared to the category average of 9.08%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
One cannot ignore the volatility of this segment, however, as it is always important for investors to remember the downside to any potential investment. In the most recent bear market, UOPIX lost 80.72% and underperformed comparable funds by 34.99%. This could mean that the fund is a worse choice than comparable funds during a bear market.
Investors should note that the fund has a 5-year beta of 2.37, so it is likely going to be 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. UOPIX's 5-year performance has produced a positive alpha of 5.33, which means managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.
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, UOPIX is a no load fund. It has an expense ratio of 1.45% compared to the category average of 0.76%. From a cost perspective, UOPIX is actually more expensive than its peers.
This fund requires a minimum initial investment of $15,000, while there is no minimum for each subsequent investment.
Bottom Line
Want even more information about UOPIX? 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Is ProFunds UltraNASDAQ-100 Fund Investor (UOPIX) a Strong Mutual Fund Pick Right Now?
If you've been stuck searching for Index funds, consider ProFunds UltraNASDAQ-100 Fund Investor (UOPIX - Free Report) as a possibility. While this fund is not tracked by the Zacks Mutual Fund Rank, we were able to examine other factors like performance, volatility, and cost.
History of Fund/Manager
ProFunds is responsible for UOPIX, and the company is based out of Columbus, OH. The ProFunds UltraNASDAQ-100 Fund Investor made its debut in December of 1997 and UOPIX has managed to accumulate roughly $383.20 million in assets, as of the most recently available information. Michael Neches is the fund's current manager and has held that role since October of 2013.
Performance
Investors naturally seek funds with strong performance. This fund in particular has delivered a 5-year annualized total return of 31.24%, and is 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 41.16%, 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. UOPIX's standard deviation over the past three years is 28.17% compared to the category average of 8.24%. Looking at the past 5 years, the fund's standard deviation is 29.35% compared to the category average of 9.08%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
One cannot ignore the volatility of this segment, however, as it is always important for investors to remember the downside to any potential investment. In the most recent bear market, UOPIX lost 80.72% and underperformed comparable funds by 34.99%. This could mean that the fund is a worse choice than comparable funds during a bear market.
Investors should note that the fund has a 5-year beta of 2.37, so it is likely going to be 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. UOPIX's 5-year performance has produced a positive alpha of 5.33, which means managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.
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, UOPIX is a no load fund. It has an expense ratio of 1.45% compared to the category average of 0.76%. From a cost perspective, UOPIX is actually more expensive than its peers.
This fund requires a minimum initial investment of $15,000, while there is no minimum for each subsequent investment.
Bottom Line
Want even more information about UOPIX? 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.