Is Wasatch Core Growth Fund (WGROX) a Strong Mutual Fund Pick Right Now? (2024)

There are plenty of choices in the Mutual Fund Equity Report category, but where should you start your research? Well, one fund that may not be worth investigating is Wasatch Core Growth Fund (WGROX). WGROX carries a Zacks Mutual Fund Rank of 4 (Sell), which is based on nine forecasting factors like size, cost, and past performance.

History of Fund/Manager

Wasatch is responsible for WGROX, and the company is based out of Salt Lake City, UT. Wasatch Core Growth Fund made its debut in November of 1986, and since then, WGROX has accumulated about $1.85 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. WGROX has a 5-year annualized total return of 16.33% and is in the top third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 17.09%, which places it in the top 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. Over the past three years, WGROX's standard deviation comes in at 23.16%, compared to the category average of 19.38%. Over the past 5 years, the standard deviation of the fund is 20.81% compared to the category average of 17.37%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

Investors should note that the fund has a 5-year beta of 1.17, which means it is hypothetically more volatile than the market at large. 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. WGROX's 5-year performance has produced a negative alpha of -1.26, which means 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 principally on equities that are traded in the United States.

Currently, this mutual fund is holding 76.43% stock in stocks, with an average market capitalization of $7.69 billion. The fund has the heaviest exposure to the following market sectors:

  1. Finance

  2. Industrial Cyclical

  3. Technology

  4. Services

Turnover is about 35%, so those in charge of the fund make fewer trades than the average comparable fund.

Expenses

For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, WGROX is a no load fund. It has an expense ratio of 1.17% compared to the category average of 1.20%. WGROX is actually cheaper than its peers when you consider factors like cost.

This fund requires a minimum initial investment of $2,000, and each subsequent investment should be at least $100.

Bottom Line

Overall, Wasatch Core Growth Fund ( WGROX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, this fund looks like a somewhat weak choice for investors right now.

Your research on the Mutual Fund Equity Report segment doesn't have to stop here. You can check out all the great mutual fund tools we have to offer by going to www.zacks.com/funds/mutual-funds to see the additional features we offer as well for additional information. And don't forget, Zacks has all of your needs covered on the equity side too! Make sure to check out Zacks.com for more information on our screening capabilities, Rank, and all our articles as well.


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Is Wasatch Core Growth Fund (WGROX) a Strong Mutual Fund Pick Right Now? (2024)

FAQs

Is Wasatch Core Growth Fund (WGROX) a Strong Mutual Fund Pick Right Now? ›

Overall, Wasatch Core Growth Fund ( WGROX ) has a neutral Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, Wasatch Core Growth Fund ( WGROX ) looks like a somewhat average choice for investors right now.

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