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If you've been stuck searching for Mutual Fund Equity Report funds, consider USAA NASDAQ-100 Index Fund (USNQX) 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
Victory is responsible for USNQX, and the company is based out of Columbus, OH. USAA NASDAQ-100 Index Fund made its debut in October of 2000, and since then, USNQX has accumulated about $4.37 billion in assets, per the most up-to-date date available. The fund is currently managed by Mannik Dhillon who has been in charge of the fund since July of 2019.
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 18.62%, 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 9.53%, which places it in the top 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. The standard deviation of USNQX over the past three years is 22.31% compared to the category average of 16.17%. The standard deviation of the fund over the past 5 years is 22.5% compared to the category average of 16.71%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
Investors should not forget about beta, an important way to measure a mutual fund's risk compared to the market as a whole. USNQX has a 5-year beta of 1.1, which means it is likely to be more volatile than the market average. 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. USNQX's 5-year performance has produced a positive alpha of 5.02, which means managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.
Holdings
Examining 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 largely on equities that are traded in the United States.