RE: Petroleum & Resources Corp. and other Oil/Oil Services Funds
Alski, appreciate your passing on the info. about closed-end fund PEO (Petroleum & Resources Corp.) Unfortunately, the fund looks like a real yawner.
The Edgar data -- thanks for the URL -- indicate that PEO has 17.5% of its money in other areas (basic materials, construction companies like Caterpillar & Deere, paper & forestry products, and a few old stand-bys like GE and DuPont), but even that hasn't lifted its YTD return above 5.8%. And returns over previous periods are also worse than mediocre. 1-year: +10.7%; 3-years: +35.5%; 5 years: +35.9%. Blah.
Anyone interested in possibly investing in a sector fund may compare PEO's performance with two Fidelity managed mutual funds: FSENX (Select Energy), a mixture of big oil, exploration cos., etc., with a sprinkling of oil service; and FSESX (Select Energy Services), which, as its title indicates, holds nothing but drillers, oil service companies, and boaters.
The YTD performance of FSENX is +5.9%, about the same as PEO's. YTD performance of FSESX is only +.9% (down from +2.0% only a few days ago!). But look at the returns for past periods:
FSENX
1 year: +13.6%
3 years: +66.6%
5 years: +83.1%
FSESX
1 year: +35.7%
3 years: +163.7%
5 years: +196.9%
FSESX looks pretty impressive when compared to the drilling/oil service industry as a whole. The Telescan industry category .OWD includes almost all the companies in the industry (with the exception of CXIPY and HLX), so I'll use it for the comparison.
.OWD (weighted)
1 year: +13.7%
3 years: +127.3%
5 years: +135.9%
The unweighted industry numbers (.OWDU) are better, but I forgot to write them down, and it's late!
Hope this will be of use to somebody.
jbe
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