Investors looking for Mutual Fund Equity Report funds should visit the Dreyfus Small Cap Stock Index Investor (DISSX). The fund does not have a Zacks Mutual Fund Rank, but we have been able to explore other metrics such as performance, volatility and cost.
History of Fund/Management Company
BNY Mellon is based in New York, NY and is the manager of DISSX. The Dreyfus Small Cap Stock Index Investor debuted in his June 1997 and since then, according to the latest available date, DISSX has amassed approximately $1.14 billion in assets. The fund is currently managed by a team of investment professionals.
performance
Of course, investors want good performance from the fund. The fund has delivered him a total return of 6.77% over his five-year annualized rate, placing him in the third middle position among his peers in the same category. But if you’re looking for a shorter timeframe, he’s also worth considering at a 3-year annualized rate of 8.85% total return.
It is also important to note the standard deviation of returns when looking at fund performance. The lower the standard deviation, the lower the fund’s volatility. His DISSX standard deviation over the past three years is 26.16% against the category average of 21.51%. Looking at the last five years, the standard deviation for the fund is 23.45% and the category average is 19%. This has made the fund more volatile than its peers over the past five years.
Risk factor
Investors should be aware that the fund has a 5-year beta of 1.13, so it is hypothetically more volatile than the market as a whole. Another factor to consider is alpha. This is because it reflects the portfolio’s performance on a risk-adjusted basis relative to the benchmark (in this case, the S&P 500). With a negative alpha of -4.15, the portfolio manager finds it difficult to select securities. Produces returns that exceed benchmarks.
Holdings
Examining mutual fund holdings is also a useful exercise. This can show how managers apply prescribed methodologies and whether there are inherent biases in their approach. This particular fund focuses primarily on US traded stocks.
The mutual fund currently owns 93.86% of its holdings and has an average market capitalization of $2.4 billion. This fund has the greatest exposure to the following market sectors:
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finance
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industrial cyclical
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technology
The fund’s turnover is around 24.56%, so the fund manager is trading less than its peers.
expenses
As the mutual fund market becomes more competitive, cost becomes more and more important. All other things being equal, the lower cost product performs better when compared to otherwise identical products. A closer look at cost-related metrics is therefore essential for investors. In terms of fees, DISSX is a no-load fund. The expense ratio is 0.50% compared to the category average of 0.79%. From a cost standpoint, DISSX is actually cheaper than its competitors.
The minimum initial investment for the product is $2,500, but investors should note that each subsequent investment must be at least $100.
Conclusion
Our research on the Mutual Fund Equity Report segment need not end here. Check out all the great mutual fund tools we offer by visiting www.zacks.com/funds/mutual-funds to see additional features and information we offer. And don’t forget, Zacks has all your needs covered on the equity side too! Check out Zacks.com for more information on screening features, ranks, and all articles.
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