- Last Ratings Update:09/30/2014
- Price as of 09/30/2014 :$24.61
- Net Assets:$1,002.5 Million
- Peer Rank:204 of 288
- Investment Rating:C+
We rate PowerShares Water Resources at C+. 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 invests approximately 100% of its assets in stocks and may be considered for investors seeking an Equity Income strategy.
POSITIVES AND RISKS
Total return ranks above peers over the last three years. The PowerShares Water Resources has returned an annual rate of 6.22% since inception. More recently, the fund has generated a total return of 8.91% in the last five years, 17.53% in the last three years, and 3.62% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 49% of them. It has also outpaced 72% of its competitors on a three year basis and 37% of them over the last year for the period ending 9/30/2014. On a year to date basis, PHO has returned -6.11%.
Downside risk has been below average. PHO has a draw down risk of -8.59%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 15.0%. This fund has had moderate volatility in its monthly performance over the last 36 months. As of 9/30/2014, the fund was trading at a price of $24.61, which is 6.3% below its 52-week high of $26.27 and 0.1% above its 52-week low of $24.59.
Low expense ratio helps performance. On total assets of $1.00 billion, PHO maintains a low expense ratio compared to its Equity Income peers of just 0.61% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As PHO is an exchange traded fund, it has no front end or back end load.
The PowerShares Water Resources is managed by Peter Hubbard at Invesco Powershares Capital Mgmt LL. This fund is one of 115 Invesco Powershares Capital Mgmt LL exchange-traded funds launched since 5/1/2003 that we track.
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