- Last Ratings Update:01/31/2015
- Price as of 01/31/2015 :$24.29
- Net Assets:$1,038.88 Million
- Peer Rank:43 of 118
- Investment Rating:D
We rate Kayne Anderson Energy Tot Ret at D. This overall rating indicates it is among the top 10% of all closed end funds in its peer group. Negative factors that influence this rating include a high expense structure. 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 below peers over the last three years. The Kayne Anderson Energy Tot Ret has returned an annual rate of 7.97% since inception. More recently, the fund has generated a total return of 9.83% in the last five years, 2.79% in the last three years, and -2.90% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 51% of them. It has also outpaced 32% of its competitors on a three year basis and 24% of them over the last year for the period ending 1/31/2015. On a year to date basis, KYE has returned -12.21%.
Downside risk has been below average. KYE has a draw down risk of -28.31%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 17.5%. This fund has had moderate volatility in its monthly performance over the last 36 months. As of 1/31/2015, the fund was trading at a price of $24.29, which is 14.2% below its 52-week high of $28.32 and 1.5% above its 52-week low of $23.94.
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 10 years. Over that period, the manager was able to capture more actual gains in excess of the expected return than 62% of other fund managers.
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