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15 important things you should know about AMG Funds MECAX mutual fund

Updated: September 10, 2020
57
Bull Case
  • 5-year return above the benchmark
  • 10-year return above the benchmark
  • 15-year return above the benchmark
  • No sales load or distribution fees
Bear Case
  • Low net assets
  • 3-year return below the benchmark
  • High expense ratio

Before we start: if you’re looking for MECAX “stock” price, you can quickly find it out by visiting Finny and typing "MECAX quote". If you’re looking for a quick scoop on MECAX "stock" (price chart, key stats, buy or sell analysis and holdings), go to Finny and look for "MECAX". You’ll get all this info in one place.

Are you looking to buy or sell MECAX? Or perhaps you’re looking for MECAX fact sheet, and learn about its alternatives? If so, you came to the right place.

In this MECAX mutual fund review, we’ll address key questions our readers have been asking us about this fund, above and beyond what you can find in its prospectus, and on Morningstar or Yahoo Finance.

Here is what you’ll be able to find in this review:

  • Fact Sheet: MECAX performance, returns, expense ratio, holdings and dividend yield;
  • Analysis: MECAX buy or sell; the pros and cons of investing in MECAX mutual fund;
  • Alternatives: other ETFs and mutual funds you should consider as alternatives to MECAX.

And here is the list of questions we’ll answer:

  1. Describe AMG Funds III: AMG Managers Cadence Emerging Companies Fund; Class N Shares (MECAX).
  2. What are MECAX holdings?
  3. What is MECAX performance? What are MECAX historical returns?
  4. How many up and down years did MECAX have historically?
  5. What is MECAX dividend yield?
  6. What is MECAX minimum initial investment amount?
  7. What is MECAX expense ratio?
  8. Does MECAX have any sales loads or 12b-1 distribution expenses?
  9. What is MECAX tax efficiency (tax-cost ratio)?
  10. What is MECAX beta? How would you assess MECAX risk?
  11. What is MECAX Sharpe ratio?
  12. What is MECAX Finny Score? MECAX buy or sell?
  13. What are the pros of investing in MECAX? What are MECAX buy reasons?
  14. What are the cons of investing in MECAX? What are MECAX sell reasons?

So let’s start. Scroll down to the question that interests you the most.

Fact Sheet

1. Describe AMG Funds III: AMG Managers Cadence Emerging Companies Fund; Class N Shares (MECAX).

The Fund seeks long-term growth of capital by investing primarily in common stocks of companies that have improving fundamentals and whose stock is reasonably valued by the market. Stocks are selected from a universe of stocks with market capitalization of less than $100 million.

2. What are MECAX top holdings?

MECAX has 98 stock holdings and 0 bond holdings.

The top 10 holdings represent 14.92% of total assets. Here are the top holdings:

Name Symbol % Assets
American Software Inc Class A AMSWA 1.70%
Castle Biosciences Inc CSTL 1.63%
Spartan Motors N/A 1.52%
Champions Oncology Inc CSBR 1.50%
Fulgent Genetics Inc FLGT 1.48%
BioSpecifics Technologies Corp BSTC 1.44%
Turtle Beach Corp HEAR 1.44%
Air Transport Services Group Inc ATSG 1.41%
Coherus BioSciences Inc CHRS 1.41%
Mesa Laboratories Inc MLAB 1.39%

3. What is MECAX performance? What are MECAX historical returns?

MECAX has generated the following returns:

  • 1-month return is -3.69%;
  • 3-month return is -0.09%;
  • 1-year return is -7.44%;
  • 3-year return is -1.81%;
  • 5-year return is 5.84%;
  • 10-year return is 12.15%;
  • 15-year return is 7.10%.

4. How many up and down years did MECAX have historically?

In the last 10 years, MECAX had 9 up years and 1 down year.

5. What is MECAX dividend yield?

MECAX yield is 0%.

6. What is MECAX minimum initial investment amount?

MECAX minimum initial investment amount is $3.00K.

7. What is MECAX expense ratio?

MECAX expense ratio is 1.11%. The expense ratio of a fund is the total percentage of fund assets used for administrative, management, and all other expenses.

8. Does MECAX have any sales loads or 12b-1 distribution expenses?

MECAX 12b-1 distribution fee is 0. MECAX front-end sales load is 0. MECAX back-end sales load is 0.

9. What is MECAX tax efficiency (tax-cost ratio)?

  • 1-year ax cost ratio is 0%;
  • 3-year ax cost ratio is 0.79%.

10. What is MECAX beta? How would you assess MECAX risk?

  • 3-year beta is 1.17;
  • 5-year beta is 1.16;
  • 10-year beta is 1.24.

11. What is MECAX Sharpe ratio?

  • 3-year Sharpe ratio is 0.01;
  • 5-year Sharpe ratio is 0.28;
  • 10-year Sharpe ratio is 0.69.

Analysis

12. What is Finny Score? buy or sell?

Finny Score is 57. Our quantitative analysis shows 4 reasons to buy and 3 reasons to sell it, resulting in the Finny Score of 57.

13. What are the pros of investing in MECAX? What are MECAX buy reasons?

The following are MECAX strengths from our perspective:

  • MECAX 5-year return is 5.84%, which is in line with the 5-year return of the benchmark index (Russell Micro Cap Growth TR USD), 5.94%.
  • MECAX 10-year return is 12.15%, which is higher than the 10-year return of the benchmark index (Russell Micro Cap Growth TR USD), 11.19%.
  • MECAX 15-year return is 7.1%, which is higher than the 15-year return of the benchmark index (Russell Micro Cap Growth TR USD), 6.26%.
  • Good news: this fund does not have 12b1, front-end or back-end sales fees.

14. What are the cons of investing in MECAX? What are MECAX negatives?

The following are MECAX weaknesses from our perspective:

  • MECAX net assets are $22.20 million. This fund is not a popular choice with retail investors.
  • MECAX 3-year return is -1.81%, which is lower than the 3-year return of the benchmark index (Russell Micro Cap Growth TR USD), 5.86%.
  • MECAX expense ratio is 1.11%, which is not negligible. Is the fund expensive to you, and does it align to your investment strategy?
In the MECAX review, we covered MECAX key stats (return, performance, yield, expense ratio, and holdings), buy and sell analysis, and alternative investments. If this review was helpful to you, feel free to check out other mutual fund and ETF reviews.
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