- Last Ratings Update:01/31/2014
- Price as of 01/31/2014 :$23.57
- Net Assets:$130.85 Million
- Peer Rank:3 of 17
- Investment Rating:C+
We rate Nuveen Mortgage Opportunity Term 2 at C+. Positive factors that influence this rating include a greater than above average total return and low price volatility. The fund invests approximately 82% of its assets in bonds and may be considered for investors seeking a General Mortgage strategy.
POSITIVES AND RISKS
Total return ranks above peers over the last three years. The Nuveen Mortgage Opportunity Term 2 has returned an annual rate of 8.49% since inception. More recently, the fund has generated a total return of 9.78% in the last three years, -8.47% in the last year, and 7.53% in the last six months. How does that compare to other equity funds? In the last three years, it has outperformed 61% of them. It has also outpaced 29% of its competitors on a one year basis for the period ending 1/31/2014. On a year to date basis, JMT has returned 3.24%.
Downside risk has been below average. JMT has a draw down risk of -23.07%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 13.8%. This fund has had moderate volatility in its monthly performance over the last 36 months. As of 1/31/2014, the fund was trading at a price of $23.57, which is 1.0% below its 52-week high of $23.82 and 4.5% above its 52-week low of $22.55.
High expense ratio hinders performance. On total assets of $130.86 million, JMT maintains a high expense ratio compared to its General Mortgage peers of 1.61% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As JMT is a closed end fund, it has no front end or back end load.
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