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If you have been looking for Mutual Fund Equity Report funds, it would not be wise to start your search with Spirit of America Energy A (SOAEX). SOAEX possesses a Zacks Mutual Fund Rank of 5 (Strong Sell), which is based on nine forecasting factors like size, cost, and past performance.
History of Fund/Manager
SOAEX finds itself in the Spirit of America family, based out of Syosset, NY. Spirit of America Energy A debuted in July of 2014. Since then, SOAEX has accumulated assets of about $226.64 million, according to the most recently available information. Douglas Revello is the fund’s current manager and has held that role since January of 2020.
Performance
Of course, investors look for strong performance in funds. This fund has delivered a 5-year annualized total return of 2.1%, and is 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 6.05%, 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 49.45%, the standard deviation of SOAEX over the past three years is 38%. The fund’s standard deviation over the past 5 years is 31.66% compared to the category average of 33.02%. This makes the fund less volatile than its peers over the past half-decade.
Risk Factors
With a 5-year beta of 1.24, the fund is likely to be more volatile than the market average. Alpha is an additional metric to take into consideration, since it represents a portfolio’s performance on a risk-adjusted basis relative to a benchmark, which in this case, is the S&P 500. Over the past 5 years, the fund has a negative alpha of -6.36. This means that managers in this portfolio find it difficult to pick 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, SOAEX is a load fund. It has an expense ratio of 1.29% compared to the category average of 1.46%. So, SOAEX is actually cheaper than its peers from a cost perspective.
Investors should also note that the minimum initial investment for the product is $500 and that each subsequent investment needs to be at $50.
Bottom Line
Overall, Spirit of America Energy A ( SOAEX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, average downside risk, and lower fees, Spirit of America Energy A ( SOAEX ) looks like a somewhat weak choice for investors right now.
Don’t stop here for your research on Mutual Fund Equity Report funds. We also have plenty more on our site in order to help you find the best possible fund for your portfolio. Make sure to check out www.zacks.com/funds/mutual-funds for more information about the world of funds, and feel free to compare SOAEX to its peers as well for additional information. Zacks provides a full suite of tools to help you analyze your portfolio – both funds and stocks – in the most efficient way possible.
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