- Last Ratings Update:03/31/2016
- Price as of 03/31/2016 :$14.92
- Net Assets:$2,257.8 Million
- Peer Rank:5 of 54
- Investment Rating:B-
We rate PowerShares Preferred Port at B-. 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, low price volatility, low expense structure and long term portfolio management tenure. The fund may be considered for investors seeking a General Bd - Investment Grade strategy.
POSITIVES AND RISKS
Total return ranks above peers over the last three years. The PowerShares Preferred Port has returned an annual rate of 3.33% since inception. More recently, the fund has generated a total return of 7.00% in the last five years, 5.96% in the last three years, and 5.22% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 56% of them. It has also outpaced 60% of its competitors on a three year basis and 81% of them over the last year for the period ending 3/31/2016. On a year to date basis, PGX has returned 0.11%.
Downside risk has been below average. PGX has a draw down risk of -10.28%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 4.6%. This fund has had very little volatility in its monthly performance over the last 36 months. As of 3/31/2016, the fund was trading at a price of $14.92, which is 0.1% below its 52-week high of $14.94 and 1.8% above its 52-week low of $14.66.
Low expense ratio helps performance. On total assets of $2.26 billion, PGX maintains a low expense ratio compared to its General Bd - Investment Grade peers of just 0.50% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As PGX is an exchange traded fund, it has no front end or back end load.
The PowerShares Preferred Port is managed by Peter Hubbard at Invesco Powershares Capital Mgmt LL. This fund is one of 126 Invesco Powershares Capital Mgmt LL exchange-traded funds launched since 5/1/2003 that we track.
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