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Look at Price PRGTX. New manager, but Price's process is top-notch, so we have faith the fund will continue to shoot out the lights. Others to watch are Fidelity Select Software & Computer FSCSX, Ivy Science & Tech (ISTIX or WSTYX) if you can get it at NAV. Also look at Technology Select Sector SPDR XLK.
Reply to @yugo: BUFTX has changed its name to Buffalo Discovery and I believe it now has a bit more flexibility in investment choices. Still the fund predominantly invests in Technology and Heathcare sectors as before.
Reply to @yugo: Berkshire BFOCX has certainly done well, but the 2% net expenses are just too high, especially when compared to 0.98% for Price and 1.01% for Buffalo. Buffalo also has a good record, but its risk profile is much higher than the other two. And then Berkshire's worst 3-month and best 3-month numbers are about double Price and Buffalo. So you get a much more volatile fund with Berkshire. Buffalo's average market cap is $9 B, while Price and Berkshire are $30 B+. Price has about 20% in foreign stocks, while the other two are essentially zero.
Reply to @bee: I like PRMTX as well, but it is not really a technology fund - after Apple, its next four largest holdings are Walt Disney, Comcast, ATT and Time Warner.
Thanks for the suggestions, everybody! I've run a brief comparison of discussed funds. Here is what comes up:
So, at least on 3 y basis, it looks like USNQX has noticeably lower StDev and higher Sharpe Ratio, while BFOCX has marginally smaller Beta and significantly higher Alpha. But like BobC said, BFOCX worst 3-month and best 3-month numbers are about double Price and Buffalo. So, as much as I am not a fan of index funds, USNQX (or QQQ) start looking quite compelling.
Also, BUFTX and BFOCX have rather longer-tenured managers than the rest. (Though it's probably not that important for USNQX.)
You might consider that although USNQX has all the big tech names, it is not a technology fund. Even M* gets this one right, calling it a large cap growth fund.
Reply to @BobC: As a follow up to BobC comment...USAA does offer a Science and Technology Fund (USSCX)...with Tech and Healthcare being its focus. BUFTX also has this kind of focus but with a bit more consistent past performance.
With a combination of Science and Technology in mind, an alternative might be a combination of PRGTX and PRHSX. Two great funds that manage these two sectors but, within the same great fund family...T. Rowe Price.
You may also check two other tech funds: DRGTX and HFGIX (the last one available at Scottrade for $100). The load version HFGAX has longer history, which is almost exactly the same as DRGTX. DRGTX was the most recommended tech fund at M* for many years.
True, USNQX is a growth fund, but many of its top holdings are Nasdaq based tech stocks. It has even performed better than USSCX, a tech fund. Since the Nasdaq is primarily tech heavy, what better than use a index fund based on the Nasdaq index. USNQX sort of offers the best of both worlds, a tech based growth fund with less cost and less volatility.
• "Available to Existing Shareholders": PRGTX, PRMTX and PRHSX
• Available to "Institutional Customers Only": ISTIX, HFGIX, WSTYX
On the other hand, FSCSX is Open to "Retail Customers Only", and DRGTX and BUFTX are open.
USNQX is shown as "Redemptions Only", which I assume means that the fund size is limited, and that only shares which have been sold then become available for purchase?
Not to take this to far from the original posting, but I am member of USAA. I have heard this story from one of their M/F reps., maybe "tooting" their own horn? He indicated that all of their MF are available to USAA members as a perk/privilege for being a member and are not avaiIable thru all/or a few financial intermediaries. I purchased my USAA funds through them, not a brokerage. However, I have seen the USAA funds available thru TDA, but have not tried to purchase them, so I am not sure if the rep's story is true.
USNQX is doing almost exactly the same as QQQ, but returns of QQQ are a bit better, and it is much better than USNQX after taxes. So why would you buy the second best?
Reply to @Old_Joe: It would be a bit of an effort, but one could always buy PRGTX, PRMTX or PRHSX directly from T. Rowe Price and then move them to Schwab.
It used to be exclusive in most products but not any more. Here is info from USAA web site (Click other individuals section to expand):
USAA's investment products, most checking and savings products, credit cards, life insurance, and shopping and discounts are available to other individuals.
USAA auto and property insurance is not available due to membership eligibility requirements. New Hampshire and North Carolina residents who are not eligible for membership may be able to obtain USAA auto insurance by calling 1-800-531-USAA (8722) to determine eligibility as defined by these state's mandatory coverage laws.
Comments
Regards,
Ted
So, at least on 3 y basis, it looks like USNQX has noticeably lower StDev and higher Sharpe Ratio, while BFOCX has marginally smaller Beta and significantly higher Alpha. But like BobC said, BFOCX worst 3-month and best 3-month numbers are about double Price and Buffalo. So, as much as I am not a fan of index funds, USNQX (or QQQ) start looking quite compelling.
Also, BUFTX and BFOCX have rather longer-tenured managers than the rest. (Though it's probably not that important for USNQX.)
As a follow up to BobC comment...USAA does offer a Science and Technology Fund (USSCX)...with Tech and Healthcare being its focus. BUFTX also has this kind of focus but with a bit more consistent past performance.
With a combination of Science and Technology in mind, an alternative might be a combination of PRGTX and PRHSX. Two great funds that manage these two sectors but, within the same great fund family...T. Rowe Price.
Hope this link works:
http://quote.morningstar.com/fund-filing/Semi-Annual-Report/2012/6/30/t.aspx?t=&ft=N-CSRS&d=81b28a649fd9e329e3cfcce7744a9bf4
• "Available to Existing Shareholders":
PRGTX, PRMTX and PRHSX
• Available to "Institutional Customers Only":
ISTIX, HFGIX, WSTYX
On the other hand, FSCSX is Open to "Retail Customers Only", and DRGTX and BUFTX are open.
USNQX is shown as "Redemptions Only", which I assume means that the fund size is limited, and that only shares which have been sold then become available for purchase?
It would be a bit of an effort, but one could always buy PRGTX, PRMTX or PRHSX directly from T. Rowe Price and then move them to Schwab.
It used to be exclusive in most products but not any more. Here is info from USAA web site (Click other individuals section to expand):
Thanks for the clarification. Heard it from one of their MF reps. a couple of years ago. Never thought anymore about since I was a member.