雅虎香港財經 Is Janus Henderson Triton T (JATTX) a Strong Mutual Fund Pick Right Now?
If investors are looking at the Small Cap Growth fund category, Janus Henderson Triton T (JATTX) could be a potential option. JATTX carries a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance.
Objective
JATTX is one of many different Small Cap Growth funds to choose from. Small Cap Growth mutual funds build portfolios around stocks with markets caps under $2 billion and large growth opportunities. Additionally, these portfolios typically highlight smaller companies in promising markets and industries.
History of Fund/Manager
Janus Fund is based in Boston, MA, and is the manager of JATTX. Janus Henderson Triton T made its debut in February of 2005, and since then, JATTX has accumulated about $1.50 billion in assets, per the most up-to-date date available. A team of investment professionals is the fund's current manager.
Performance
Investors naturally seek funds with strong performance. This fund has delivered a 5-year annualized total return of 6.49%, and is in the bottom 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 -2.13%, which places it in the middle 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 JATTX over the past three years is 19.32% compared to the category average of 15.18%. The fund's standard deviation over the past 5 years is 22.12% compared to the category average of 16.29%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
With a 5-year beta of 1.1, 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. The fund has produced a negative alpha over the past 5 years of -8.77, which shows that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
Holdings
Investigating 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, 79.92% of this mutual fund's holdings are stocks, and these companies have an average market capitalization of $8.83 billion. The fund has the heaviest exposure to the following market sectors:
Technology
Health
Industrial Cyclical
Other
Turnover is about 19%, so those in charge of the fund make fewer trades than its comparable peers.
Expenses
As competition heats up in the mutual fund market, costs become increasingly important. Compared to its otherwise identical counterpart, a low-cost product will be an outperformer, all other things being equal. Thus, taking a closer look at cost-related metrics is vital for investors. In terms of fees, JATTX is a no load fund. It has an expense ratio of 0.91% compared to the category average of 0.98%. JATTX is actually cheaper than its peers when you consider factors like cost.
While the minimum initial investment for the product is $2,500, investors should also note that there is no minimum for each subsequent investment.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, even with its comparatively weak performance, worse downside risk, and lower fees, Janus Henderson Triton T ( JATTX ) has a high Zacks Mutual Fund rank, and therefore looks a great potential choice for investors right now.
For additional information on the Small Cap Growth area of the mutual fund world, make sure to check out www.zacks.com/funds/mutual-funds. There, you can see more about the ranking process, and dive even deeper into JATTX too 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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