- Last Ratings Update:03/31/2016
- Price as of 03/31/2016 :$12.00
- Net Assets:$347.55 Million
- Peer Rank:62 of 122
- Investment Rating:D-
We rate First Trust New Opptys MLP & Energy at D-. Negative factors that influence this rating include a high expense structure. The fund may be considered for investors seeking a Sector - Energy/Natural Res strategy.
POSITIVES AND RISKS
New Fund off to poor start in the last year. The First Trust New Opptys MLP & Energy has returned an annual rate of -16.39% since inception. More recently, the fund has generated a total return of -24.81% in the last year, -8.24% in the last six months, and 12.10% in the last three months. How does that compare to other equity funds? In the last year, it has outperformed 8% of them for the period ending 3/31/2016. On a year to date basis, FPL has returned 12.10%.
Downside risk has been above average. FPL has a draw down risk of -47.64%, which is the largest price decline experienced since the inception of the fund. This fund has a one year standard deviation of 34.2%. This fund has experienced excessive volatility in its monthly performance over the last 12 months. As of 3/31/2016, the fund was trading at a price of $12.00, which is 2.7% below its 52-week high of $12.33 and 14.4% above its 52-week low of $10.49.
High expense ratio hinders performance. On total assets of $347.55 million, FPL maintains a high expense ratio compared to its Sector - Energy/Natural Res peers of 2.24% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As FPL is a closed end fund, it has no front end or back end load.
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