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If investors are looking at the Government Bond - Intermediate fund category, Performance Trust Total Return Bond (PTIAX - Free Report) could be a potential option. PTIAX holds a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on nine forecasting factors like size, cost, and past performance.
Objective
Zacks categorizes PTIAX as Government Bond - Intermediate, which is a segment packed with options. Holding securities issued by the U.S. federal government, Government Bond - Intermediate funds are often seen as risk-free assets and are described as extremely low-risk from a default perspective. These kind of funds carry the risk and return potential that falls between short and long government bonds, and are best suited for those looking to complement an existing core bond portfolio.
History of Fund/Manager
Performance is based in New York, NY, and is the manager of PTIAX. Performance Trust Total Return Bond made its debut in August of 2010, and since then, PTIAX has accumulated about $6 billion in assets, per the most up-to-date date available. G. Michael Plaiss is the fund's current manager and has held that role since August of 2010.
Performance
Investors naturally seek funds with strong performance. This fund has delivered a 5-year annualized total return of 4.76%, and it sits in the middle third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 5.27%, which places it in the middle 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. The standard deviation of PTIAX over the past three years is 4.75% compared to the category average of 7.62%. The fund's standard deviation over the past 5 years is 3.94% compared to the category average of 6.26%. This makes the fund less volatile than its peers over the past half-decade.
This fund has a beta of 0.86, meaning that it is less volatile than a broad market index of fixed income securities. Taking this into account, PTIAX has a positive alpha of 2.06, which measures performance on a risk-adjusted basis.
Ratings
Investors should also consider a bond's rating, which is a grade ( 'AAA' to 'D' ) given to a bond that indicates its credit quality. With this letter scale in mind, PTIAX has 23.48% in high quality bonds rated at least 'AA' or higher, while 31.78% are of medium quality, with ratings of 'A' to 'BBB'. The fund's junk bond component-bonds rated 'BB' or below-is at 39.17%, giving PTIAX an average quality of BBB. This means that it focuses on medium quality securities.
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, PTIAX is a no load fund. It has an expense ratio of 0.76% compared to the category average of 0.75%. So, PTIAX is actually more expensive than its peers from a cost perspective.
This fund requires a minimum initial investment of $2,500, and each subsequent investment should be at least $500.
Bottom Line
Overall, Performance Trust Total Return Bond ( PTIAX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and higher fees, Performance Trust Total Return Bond ( PTIAX ) looks like a good potential choice for investors right now.
Want even more information about PTIAX? Then go over to Zacks.com and check out our mutual fund comparison tool, and all of the other great features that we have to help you with your mutual fund analysis for additional information. Want to learn even more? We have a full suite of tools on stocks that you can use to find the best choices for your portfolio too, no matter what kind of investor you are.
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Is PTIAX a Strong Bond Fund Right Now?
If investors are looking at the Government Bond - Intermediate fund category, Performance Trust Total Return Bond (PTIAX - Free Report) could be a potential option. PTIAX holds a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on nine forecasting factors like size, cost, and past performance.
Objective
Zacks categorizes PTIAX as Government Bond - Intermediate, which is a segment packed with options. Holding securities issued by the U.S. federal government, Government Bond - Intermediate funds are often seen as risk-free assets and are described as extremely low-risk from a default perspective. These kind of funds carry the risk and return potential that falls between short and long government bonds, and are best suited for those looking to complement an existing core bond portfolio.
History of Fund/Manager
Performance is based in New York, NY, and is the manager of PTIAX. Performance Trust Total Return Bond made its debut in August of 2010, and since then, PTIAX has accumulated about $6 billion in assets, per the most up-to-date date available. G. Michael Plaiss is the fund's current manager and has held that role since August of 2010.
Performance
Investors naturally seek funds with strong performance. This fund has delivered a 5-year annualized total return of 4.76%, and it sits in the middle third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 5.27%, which places it in the middle 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. The standard deviation of PTIAX over the past three years is 4.75% compared to the category average of 7.62%. The fund's standard deviation over the past 5 years is 3.94% compared to the category average of 6.26%. This makes the fund less volatile than its peers over the past half-decade.
This fund has a beta of 0.86, meaning that it is less volatile than a broad market index of fixed income securities. Taking this into account, PTIAX has a positive alpha of 2.06, which measures performance on a risk-adjusted basis.
Ratings
Investors should also consider a bond's rating, which is a grade ( 'AAA' to 'D' ) given to a bond that indicates its credit quality. With this letter scale in mind, PTIAX has 23.48% in high quality bonds rated at least 'AA' or higher, while 31.78% are of medium quality, with ratings of 'A' to 'BBB'. The fund's junk bond component-bonds rated 'BB' or below-is at 39.17%, giving PTIAX an average quality of BBB. This means that it focuses on medium quality securities.
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, PTIAX is a no load fund. It has an expense ratio of 0.76% compared to the category average of 0.75%. So, PTIAX is actually more expensive than its peers from a cost perspective.
This fund requires a minimum initial investment of $2,500, and each subsequent investment should be at least $500.
Bottom Line
Overall, Performance Trust Total Return Bond ( PTIAX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and higher fees, Performance Trust Total Return Bond ( PTIAX ) looks like a good potential choice for investors right now.
Want even more information about PTIAX? Then go over to Zacks.com and check out our mutual fund comparison tool, and all of the other great features that we have to help you with your mutual fund analysis for additional information. Want to learn even more? We have a full suite of tools on stocks that you can use to find the best choices for your portfolio too, no matter what kind of investor you are.