San Francisco-based EKJFX mutual fund, part of the Allspring family, has been struggling with underperformance and high market volatility, according to a recent analysis. The fund has been given a Zacks Rank of 5, which suggests a strong sell recommendation.
Since its inception in December 2012, the EKJFX mutual fund has managed to accumulate assets worth approximately $191.10 million. However, its performance in terms of returns has been less than impressive. The fund’s five-year annualized total return sits at a mere 6.69%, and its three-year annualized total return is even lower, at just 0.43%. This positions the EKJFX fund in the bottom third among similar funds.
The fund’s struggles are further highlighted by its higher-than-average volatility over the past three and five years. This is evidenced by an above-average standard deviation during these periods and a five-year beta of 1.09, indicating high market volatility.
In addition to its underperformance and high volatility, the EKJFX mutual fund has also struggled with generating returns that surpass the benchmark. Over the past five years, the fund has registered a negative alpha of -3.08, further emphasizing its difficulties in outperforming the market benchmark.
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