US News & World Report Ranks Amana Growth #1 Large Growth Fund
October 31, 2022 – Digital news magazine US News & World Report ranked the Amana Growth Fund as the #1 Large Growth Fund on its quarterly Best Funds list for September 30, 2022, based on the Fund’s performance and ratings.
US News & World Report uses ratings from Morningstar, Lipper, Zacks, TheStreet, and CFRA Research to create their rankings. Funds must be ranked by all five sources in order to receive a score from US News.
“We are pleased US News & World Report has again acknowledged Amana Growth for its outstanding performance,” said Scott Klimo, CFA®, Saturna’s chief investment officer and portfolio manager of the Amana Growth and Sextant Growth Funds. “Not only does the ranking demonstrate the value we’re providing to shareowners, but by compiling ratings from multiple agencies, US News & World Report illustrates that our funds ranked well across various methodologies.”
US News & World Report ranked
Amana Growth Fund
Among Large Growth Funds
As of September 30, 2022
About Amana Funds
Since 1986, the Amana Funds have served Muslim American investors and have garnered appeal beyond this demographic, growing to over $4.8 billion in assets as the largest fund family of its kind in the US. To ensure the Amana Funds’ investments meet the requirements of the Islamic faith, Saturna Capital engages Amanie Advisors Sdn Bhd, a leading consultant specializing in Islamic finance.
About US News & World Report Best Fund Rankings
The US News Mutual Fund Score is produced using an equal weighting of the overall ratings provided by their data sources, including Morningstar, Lipper, Zacks, CFRA, and TheStreet. Individual fund rating systems are normalized to a 100-point scale based on point totals assigned to individual scoring systems. For Morningstar's and CFRA's five-Star ranking and Zacks' five-point scale, each star or point awarded would receive 20 points. In TheStreet's A-to-E scale, a highly rated "A" fund would receive 100 points, while a low-rated "E" would receive 20 points. The five Lipper Leader categories are each worth a total of 20 points, giving 4 points to each 1-to-5 point scale assigned to each section of the Lipper rankings. The US News score is calculated by dividing total points awarded according to the above system by the number of data sources (five). The combined US News Mutual Fund Score ranks funds numerically based on this score. Funds with identical scores to one decimal place are awarded the same numerical ranking. The Amana Growth Fund was ranked first among 1,174 Large Growth Funds, scoring 9.4 out of 10, for the one year period ended September 30, 2022.
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|Average Annual Total Returns as of 09/30/2022|
|1 Year||3 Year||5 Year||10 Year||Expense Ratio¹|
|Amana Growth Investor Shares (AMAGX)||-17.27%||11.12%||12.99%||12.80%||0.91%|
|Amana Growth Institutional Shares (AMIGX)||-17.07%||11.39%||13.26%||n/a||0.64%|
|S&P 500 TR Index||-15.47%||8.15%||9.23%||11.69%||n/a|
|Morningstar "Large Growth" Category||-27.10%||6.77%||8.95%||11.36%||n/a|
|Upside Capture Ratios as of 09/30/2022|
|1 Year||3 Year||5 Year||10 Year|
|Amana Growth Investor Shares (AMAGX)||89.57||103.49||104.79||101.32|
|Amana Growth Institutional Shares (AMIGX)||89.89||103.94||105.29||101.88|
|Morningstar "Large Growth" Category||78.24||101.63||102.87||102.26|
|Downside Capture Ratios as of 09/30/2022|
|1 Year||3 Year||5 Year||10 Year|
|Amana Growth Investor Shares (AMAGX)||99.31||93.83||90.93||95.52|
|Amana Growth Institutional Shares (AMIGX)||98.93||93.44||90.50||95.00|
|Morningstar "Large Growth" Category||124.85||107.31||105.19||106.06|
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1 Expense ratios for Amana Growth Fund are as stated in the Fund's most recent prospectus or summary prospectus dated September 30, 2022.
Performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of investments in the Fund fluctuate daily and an investor's shares, when redeemed, may be worth more or less than the original cost and you may lose money. Current performance may be higher or lower than performance data quoted herein. Performance data current to the most recent month-end may be obtained by calling toll-free 1-800-728-8762 or by visiting our Month-end Performance page.
The Amana Mutual Funds limit the securities they purchase to those consistent with Islamic and sustainable principles. This limits opportunities and may affect performance.
Investing involves risk, including possible loss of principal. Generally, an investment that offers a higher potential return will have a higher risk of loss. Stock prices fluctuate, sometimes quickly and significantly, for a broad range of reasons that may affect individual companies, industries, or sectors. Investing in foreign securities involves risks not typically associated directly with investing in US securities. These risks include fluctuations in exchange rates of foreign currencies; less public information with respect to issuers of securities; less governmental supervision of exchanges, issuers, and brokers; and lack of uniform accounting, auditing, and financial reporting standards. There is also a risk of adverse political, social, or diplomatic developments that affect investment in foreign countries.
The S&P 500 is an index comprised of 500 widely held common stocks considered to be representative of the US stock market in general. When available, Saturna uses total return components of indices mentioned. Investors cannot invest directly in the indices.
Expressed in percentage terms, Morningstar’s calculation of total return is determined by taking the change in price, reinvesting, if applicable, all income and capital gains distributions during the period, and dividing by the starting price.
Upside/downside capture ratios show whether a fund outperformed or underperformed its Morningstar category during periods of market strength (upside capture) and weakness (downside capture), and by how much. Morningstar calculates all stock funds’ upside and downside capture ratios versus the S&P 500 Total Return Index.
Upside capture ratios for funds are calculated by taking the fund’s monthly return during months when the S&P 500 TR Index had a positive return and dividing it by the index’s return during that same month. Downside capture ratios are calculated by taking the fund’s monthly return during the periods of negative index performance and dividing it by the index return. Morningstar.com calculated the upside and downside capture ratios for multi-year periods by calculating the geometric average for both the fund and index returns during the up and down months, respectively, over each time period.
An upside capture ratio over 100 indicates a fund has generally outperformed the index during periods of positive returns for the index. Meanwhile, a downside capture ratio of less than 100 indicates that a fund has lost less than the index in periods when the index has declined.