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INVESTMENTS -- FUND COMPARISON PROJECT

Your name: Your class period/section: Your concentration/major(s):

Report on three funds from the following period:

Start 11/1/2012

Sepncer Colvin ONLINE Business Management / Minor Finance

End 10/31/2017

to

Open-ended, Actively managed Fund *

Closed-end, Passively-managed, Exchange-Traded Fund *

REPLACE WHAT IS BELOW WITH DATA FOR THE "SPY" ETF

Fidelity Advisor Tehnology Fund (FATIX)

Vanguard Information Technology ETF (VGT)

SPDR S&P 500 ETF Trust (SPY)

VGT seeks to track the price performance of the underlying holdings in the MSCI US Investable Market Information Technology 25/50 Index.

SPY seeks to track the price performance of the underlying holdings in the S&P 500 Index

FROM: S&P NetAdvantage Individual Fund Name

Mutual Fund: A brief description of the fund ETF: Paste in the details of the index it is FATIX is a science and tracking. FOR BOTH: Be sure to include any technology fund based on the mention(s) of things like growth/value, globa funds holdings - from CFR. (or other regions), sectors or industries of focus etc. FATIX

VGT

SPY

Domestic Equity

Equity

Equity

Style Index (mutual funds) or Type (ETF): NASDAQ 100 Price Only Index

Traditional

Large-Cap Care

Region:

U.S. Domestic

U.S. DOMESTIC

U.S. Domestic

5 star

OVERWEIGHT

OVERWEIGHT

Portfolio Turnover %:

73.00%

6.00%

3.00%

Holdings in the US %:

70%

95.17%

94.69%

"Fees & Expenses" xpense Ratio (gross) for Fund

0.77%

0.10%

9.00%

Expense Ratio (gross) Peer Average

77.00%

n/a

n/a

Max Front End Sales Load:

0.00%

n/a

n/a

Redemption Fee:

0.00%

n/a

n/a

Max 12b1 Fee:

0.00%

n/a

n/a

Beta -- 3 yr

1.25

1.19

1.00

-- 5 yr

n/a

1.11

1.00

15.45

13.77

10.21

Ticker: Category:

S&P Ranking:

Risk & Portfolio Statistics

Standard Deviation (Mkt price) -- 3 yr -- 5 yr

n/a

12.33

9.54

Sharpe Ratio (Mkt price) -- 3 yr

1.54

1.19

1.35

-- 5 yr

n/a

1.41

1.57

Alpha -- 3 yr

0.50

0.31

-0.01

-- 5 yr

n/a

0.26

-0.01

CALCULATIONS: will autofill

Mutual Fund

1 Year returns from

ETF

SPY

Total HPR

Dividends Paid

Total HPR

Dividends Paid

Total HPR

Dividends Paid $3.393

11/1/2012

10/31/2013

22.01%

$0.000

22.42%

$0.833

26.50%

11/1/2013

10/31/2014

19.11%

$2.537

23.05%

$0.944

16.81%

$3.681

11/1/2014

10/31/2015

3.31%

$1.016

10.42%

$2.156

5.63%

$4.129

11/1/2015

10/31/2016

12.91%

$0.000

9.80%

$1.563

3.87%

$4.422

11/1/2016

10/31/2017

48.48%

$0.629

37.70%

$1.621

23.23%

$4.780

Holding Period Returns:

3 year

71.36%

65.28%

5 year

142.43%

146.84%

| Annual Arithmetic Mean Retur

|

Annual Geometric Mean Retur

95.94% |

3 year

21.57%

19.30%

5 year

21.16%

20.68%

|

34.13%

|

10.91% 15.21% |

3 year

20.09%

18.63%

10.58%

5 year

20.28%

20.25%

14.85%

1. Actively Managed Fund a. VGT b. Vanguard Information Technology ETF c. “The investment seeks to track the performance of a benchmark index. The fund employs an indexing investment approach designed to track the performance of the MSCI US Investable Market Index/Information Technology 25/50, an index made up of stocks of large, mid-size, and small U.S. companies within the information technology sector, as classified under the Global Industry Classification Standard. The Advisor attempts to replicate the target index by seeking to invest all, or substantially all, of its assets in the stocks that make up the index, in order to hold each stock in approximately the same proportion as its weighting in the index. It is non-diversified.” d. Overweight e. VGT seeks to track to price performance of Large , Medium and Small sectors Indexes, selecting the most beneficial returns for information technology sector to place under their portfolio’s holdings. The morning star style box places investment focus with Growth and Large cap, but VGL maintains in all sizes. VGL focuses on a benchmark index to make sure it is always performing it its top tier 2. Passively Managed Fund a. FATIX b. Fidelity Advisor Technology Fund c. “The investment seeks capital appreciation. The fund normally invests primarily in common stocks. It invests at least 80% of assets in securities of companies principally engaged in offering, using, or developing products, processes, or services that will provide or will benefit significantly from technological advances and improvements. The fund invests in domestic and foreign issuers. It uses fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments. The fund is non-diversified.” d. 5 Star e. FATIX Morning start style box is identical to VGL’s in making growth its investment priority and ideally for Large cap companies. The goal or focus is to invest towards corps whom are about to experience or should experience improved processes or programs. Focusing on large big name corps whom are always undergoing an innovative advantage. As VGL invest in similar companies, some of the FATIX wones include: Tesla, Apple, Microsoft… 3. The HPR: a. @ year 3: FATIX maintained a higher HPR than VGT and SPY, as follows; 71.36% 65.28% and 34.13%. With FATIX having a higher HPR, you can concluded that this specific mutual fund at end of year 3 will maintain a higher return than the other two funds. b. @ year 5: VGT surpassed FATIX, being the highest HPR, and SPY maintained in last., as follows; 146.84%, 142.43%, and 95.94%. Though VGT provides a larger return, the FATIX mutual fund still provides a close return 5 compared to the return VGT provided. 4. The riskiest fund was the FATIX fund with a volatility of 1.54. The other two funds were close in riskiness as well as their Standard deviations decreased form return on years 3 and then years 5; SPY 1.57 and VGT 1.41.

5. Sharpe Ratio: a. @ 3 Year: FATIX with a 1.54, VGT with a 1.19 and SPY with a 1.35, FATIX maintained the highest sharpe ratio (1.54) indicating it has a better appealing risk-adjusted return compared to the other two funds (1.19 and 1.35). b. @ year 5: FATIX had no sharpe ratio at year 5 but the sharpe ratios for the other two were 1.41 for VGT and 1.57 FOR SPY. Indicating that SPY has a better appealing riskadjusted return compared to VGT. 6. From these three funds, we can conclude that all the active fund managers are indeed receiving their fee’s. The Mutual fund, for investors, provides great returns due to their not being as many fee’s as the ETF and as well as providing a higher excess return than the other funds....