- Last Ratings Update:07/31/2014
- Price as of 07/31/2014 :$32.37
- Net Assets:$1,038.88 Million
- Peer Rank:8 of 115
- Investment Rating:A
We rate Kayne Anderson Energy Tot Ret at A. This overall rating indicates it is among the top 10% of all closed end funds in its peer group. Positive factors that influence this rating include a greater than above average total return and low price volatility. The fund invests approximately 87% of its assets in stocks and may be considered for investors seeking a Sector - Energy/Natural Res strategy.
POSITIVES AND RISKS
Total return ranks above peers over the last three years. The Kayne Anderson Energy Tot Ret has returned an annual rate of 11.46% since inception. More recently, the fund has generated a total return of 19.75% in the last five years, 16.31% in the last three years, and 14.47% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 92% of them. It has also outpaced 74% of its competitors on a three year basis and 66% of them over the last year for the period ending 7/31/2014. On a year to date basis, KYE has returned 22.24%.
Downside risk has been below average. KYE has a draw down risk of -14.05%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 18.6%. This fund has experienced a high level of volatility in its monthly performance over the last 36 months. As of 7/31/2014, the fund was trading at a price of $32.37, which is 3.3% below its 52-week high of $33.46 and 5.5% above its 52-week low of $30.67.
High expense ratio hinders performance. On total assets of $1.04 billion, KYE maintains a high expense ratio compared to its Sector - Energy/Natural Res peers of 4.10% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As KYE is a closed end fund, it has no front end or back end load.
Manager tenure and performance record are net positives. Substandard fund managers tend to be replaced, so a long tenure is usually a good sign that a fund is achieving its objectives. The Kayne Anderson Energy Tot Ret has been managed by John C. Frey for the last 9 years. Over that period, the manager was able to capture more actual gains in excess of the expected return than 94% of other fund managers.
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