Any investors hoping to find a Mid Cap Growth fund might consider looking past Eventide Gilead Fund N (ETGLX Quick QuoteETGLX - Free Report) . ETGLX holds a Zacks Mutual Fund Rank of 4 (Sell), which is based on nine forecasting factors like size, cost, and past performance.

Objective

ETGLX is part of the Mid Cap Growth section, a segment that boasts a wide array of possible selections. While Mid Cap Growth mutual funds choose companies with a stock market valuation between $2 billion and $10 billion, stocks in these funds are also expected to show broad considerable growth opportunities for investors compared to their peers. To be considered a growth stock, companies must consistently report impressive sales and/or earnings growth.

History of Fund/Manager

Eventide is based in Willow Grove, PA, and is the manager of ETGLX. Eventide Gilead Fund N made its debut in July of 2008, and since then, ETGLX has accumulated about $599.66 million in assets, per the most up-to-date date available. The fund's current manager, Finny Kuruvilla, has been in charge of the fund since July of 2008.

Performance

Obviously, what investors are looking for in these funds is strong performance relative to their peers. This fund has delivered a 5-year annualized total return of 12.45%, 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 19.86%, 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. Compared to the category average of 10.02%, the standard deviation of ETGLX over the past three years is 16.91%. The standard deviation of the fund over the past 5 years is 17.56% compared to the category average of 10.33%. 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.

Investors should note that the fund has a 5-year beta of 1.25, 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. Over the past 5 years, the fund has a positive alpha of 1.14. This means that managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.

Expenses

For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, ETGLX is a no load fund. It has an expense ratio of 1.38% compared to the category average of 1.18%. So, ETGLX is actually more expensive than its peers from a cost perspective.

This fund requires a minimum initial investment of $1,000, and each subsequent investment should be at least $50.

Bottom Line

Overall, Eventide Gilead Fund N ( ETGLX ) has a low Zacks Mutual Fund rank, strong performance, worse downside risk, and higher fees compared to its peers.

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