Looking for a Mutual Fund Equity Report fund? You may want to consider ProFunds Internet UltraSector Investor (INPIX) as a possible option. INPIX bears a Zacks Mutual Fund Rank of 3 (Hold), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
INPIX finds itself in the ProFunds family, based out of Columbus, OH. Since ProFunds Internet UltraSector Investor made its debut in June of 2000, INPIX has garnered more than $76.76 million in assets. Michael Neches is the fund’s current manager and has held that role since October of 2013.
Of course, investors look for strong performance in funds. This fund has delivered a 5-year annualized total return of -0.73%, and it sits in the bottom third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of -6.97%, which places it in the bottom 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 29.87%, the standard deviation of INPIX over the past three years is 42.38%. The standard deviation of the fund over the past 5 years is 37.26% compared to the category average of 26.41%. This makes the fund more volatile than its peers over the past half-decade.
Investors should note that the fund has a 5-year beta of 1.66, 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. INPIX’s 5-year performance has produced a negative alpha of -10.49, which means managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
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 mostly on equities that are traded in the United States.
Right now, 83.65% of this mutual fund’s holdings are stocks, which have an average market capitalization of $78 billion. The fund has the heaviest exposure to the following market sectors:
- Retail Trade
This fund’s turnover is about 26%, so the fund managers are making fewer trades than its comparable peers.
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, INPIX is a no load fund. It has an expense ratio of 1.48% compared to the category average of 1.30%. Looking at the fund from a cost perspective, INPIX 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.
Overall, ProFunds Internet UltraSector Investor ( INPIX ) has a neutral Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, worse downside risk, and higher fees, this fund looks like a somewhat average choice for investors right now.
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