Fund Evaluator:
Saturna Growth Z (SGZFX)
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Best Performing in Large Growth Over the Last Year
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Fund Details
Saturna Growth Z Overview
Saturna Growth Z (SGZFX) is an actively managed U.S. Equity Large Growth fund. Saturna Capital launched the fund in 2017.
The investment seeks long-term capital growth. The fund seeks long-term capital growth by investing in common stocks of U.S. companies. It diversifies its investments across industries and companies. The fund principally invests in securities of companies with market capitalizations greater than $1 billion.
About Saturna Growth Z (SGZFX)
There are 2 members of the management team with an average tenure of 0.83 years: William Jones IV (2025), Jason S. Michell (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Large Cap TR USD index with a weighting of 100% and Bloomberg 1000 Growth TR USD index with a weighting of 100%. Saturna Growth Z has 28 securities in its portfolio. The top 10 holdings constitute 64.1% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Saturna Growth Z is part of the Equity global asset class and is within the U.S. Equity fund group. Saturna Growth Z has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 96.9%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Saturna Growth Z has 3.1% of the portfolio in cash.
Assets Under Management
The fund has $76 million in total assets, which is below the $2 billion average for the Large Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
SGZFX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Saturna Growth Z expense ratio is above average compared to funds in the Large Growth category. Saturna Growth Z has an expense ratio of 0.75%, which is 22% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Saturna Growth Z has a portfolio turnover rate of 8%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 54% for the Large Growth category.
Recently, in the month of July 2026, Saturna Growth Z returned 2.0%, which earned it a grade of A, as the Large Growth category had an average return of -3.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Saturna Growth Z has a trailing yield of 0.00%, which is below the 0.06% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Saturna Growth Z Grades
Year to date, the fund has returned 7.8%, 4.1 percentage points better than the category, which translates into a grade of A. The fund has returned 13.7% over the past year (grade of B), 17.5% over the past three years (grade of C) and 10.2% per year over the past five years (grade of B) and 15.1% per year over the past 10 years (grade of C).
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SGZFX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| SGZFX Return (NAV) | 2.0% | 0.6% | 13.7% | 17.5% | 10.2% | 15.1% |
| SGZFX Grade | A | D | B | C | B | C |
| +/- Category | 5.0% | -1.1% | 4.7% | -0.6% | 1.5% | -0.3% |
| Large Growth Avg | -3.1% | 1.7% | 9.1% | 18.1% | 8.7% | 15.4% |
| SGZFX Tax Cost Ratio | na | na | 0.4% | 0.3% | 0.8% | na |
SGZFX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SGZFX Return (NAV) | 7.8% | 16.3% | 24.7% | 28.5% | -25.1% | 23.3% | 30.8% | 36.8% | 0.7% | 22.4% | -0.5% |
| SGZFX Grade | A | C | D | F | A | B | D | A | B | F | F |
| +/- Category | 4.1% | 0.6% | -4.9% | -10.3% | 7.0% | 2.9% | -11.5% | 3.6% | 1.3% | -7.5% | -3.2% |
| Large Growth Avg | 3.7% | 15.7% | 29.7% | 38.9% | -32.1% | 20.4% | 42.3% | 33.2% | -0.7% | 29.8% | 2.7% |
| Risk Measures | |
| Standard Deviation: | 16.3% |
| Total Risk Index: | 1.33 - Above Average |
| Category Risk Index: | 0.92 - Below Average |
| Category Risk Grade: | B (28% Rank) |
| Beta: | 1.17 |
| R-Squared: | 89% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $81 Mil |
| Fund Total Assets: | $ 77 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 8% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 0.8 years | |||
| Average Tenure: 0.8 years | |||
| Managers (Year): Jones IV William (2025), Michell Jason S. (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 28 |
| % in Top 10 Holdings: | 64.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 96.9% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 3.1% |
Purchase Information
| Fund Family: | Saturna Capital |
| Phone Number: | 800-728-8762 |
| Website: | www.saturna.com |
| Status: | Open |
| Inception Date: | June 2, 2017 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.75% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.96% |
| Share Class: | Saturna Growth |
| Min. Subsequent Purchase: | $ 25 |
| Min. Subsequent IRA Purchase: | $ 0 |
