Is ProFunds Biotech Ultra Sector Investor (BIPIX) a Strong Mutual Fund Pick Right Now?

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2023-09-06 11:00:05  • 4 mins

Mutual Fund Equity Report fund seekers should consider taking a look at ProFunds Biotech Ultra Sector Investor (BIPIX). BIPIX carries a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on various forecasting factors like size, cost, and past performance.

History of Fund/Manager

ProFunds is responsible for BIPIX, and the company is based out of Columbus, OH. ProFunds Biotech Ultra Sector Investor debuted in June of 2000. Since then, BIPIX has accumulated assets of about $118.74 million, according to the most recently available information. The fund is currently managed by Michael Neches who has been in charge of the fund since October of 2013.

Performance

Investors naturally seek funds with strong performance. BIPIX has a 5-year annualized total return of 6.53% and is in the middle third among its category peers. If you're interested in shorter time frames, do not dismiss looking at the fund's 3 -year annualized total return of 4.84%, which places it in the bottom third during this time-frame.

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