Fund Evaluator:
Amana Growth Investor (AMAGX)
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Best Performing in Large Growth Over the Last Year
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Fund Details
Amana Growth Investor Overview
Amana Growth Investor (AMAGX) is an actively managed U.S. Equity Large Growth fund. Amana launched the fund in 1994.
The investment seeks long-term capital growth, consistent with Islamic principles. The fund normally invests at least 80% of total net assets in common stocks. It invests only in common stocks, including foreign stocks. Investment decisions are made in accordance with Islamic principles. The fund diversifies its investments across industries and companies, and principally follows a large-cap value investment style.
About Amana Growth Investor (AMAGX)
There are 3 members of the management team with an average tenure of 7.30 years: Scott Klimo (2012), Monem Salam (2018), Jason Mitchell (2026). 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%. Amana Growth Investor has 32 securities in its portfolio. The top 10 holdings constitute 60.8% 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.
Amana Growth Investor is part of the Equity global asset class and is within the U.S. Equity fund group. Amana Growth Investor has 26.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 69.4%. There is 26.8% 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). Amana Growth Investor has 3.7% of the portfolio in cash.
Assets Under Management
The fund has $3 billion in total assets, which is above 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.
AMAGX 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 Amana Growth Investor expense ratio is high compared to funds in the Large Growth category. Amana Growth Investor has an expense ratio of 0.86%, which is 10% lower than its category average, making the fund expense ratio grade a C. 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. Amana Growth Investor has a portfolio turnover rate of 3%, indicating that holds its assets around 0.3 years. By way of comparison, the average portfolio turnover is 54% for the Large Growth category.
Recently, in the month of June 2026, Amana Growth Investor returned 0.3%, which earned it a grade of B, as the Large Growth category had an average return of -1.3%. 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.
Amana Growth Investor 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 semi-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.
Amana Growth Investor Grades
Year to date, the fund has returned 15.5%, 8.5 percentage points better than the category, which translates into a grade of A. The fund has returned 30.0% over the past year (grade of A), 19.6% over the past three years (grade of D) and 13.0% per year over the past five years (grade of B) and 17.6% per year over the past 10 years (grade of B).
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AMAGX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| AMAGX Return (NAV) | 0.3% | 19.4% | 30.0% | 19.6% | 13.0% | 17.6% |
| AMAGX Grade | B | B | A | D | B | B |
| +/- Category | 1.6% | 1.6% | 14.1% | -1.1% | 3.0% | 1.2% |
| Large Growth Avg | -1.3% | 17.8% | 15.9% | 20.7% | 10.0% | 16.4% |
| AMAGX Tax Cost Ratio | na | na | 0.0% | 0.4% | 0.4% | 1.0% |
AMAGX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| AMAGX Return (NAV) | 15.5% | 17.6% | 15.7% | 25.7% | -19.4% | 31.5% | 32.9% | 33.1% | 2.4% | 29.0% | 7.6% |
| AMAGX Grade | A | B | F | F | A | A | D | C | A | C | A |
| +/- Category | 8.5% | 1.9% | -13.9% | -13.1% | 12.6% | 11.0% | -9.2% | -0.1% | 3.1% | -0.8% | 4.8% |
| Large Growth Avg | 7.1% | 15.7% | 29.6% | 38.8% | -32.0% | 20.5% | 42.0% | 33.2% | -0.7% | 29.8% | 2.8% |
| Risk Measures | |
| Standard Deviation: | 15.0% |
| Total Risk Index: | 1.24 - Above Average |
| Category Risk Index: | 0.87 - Low |
| Category Risk Grade: | A (16% Rank) |
| Beta: | 1.07 |
| R-Squared: | 86% |
| 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: | Semi-Annually |
| Total Assets: | $6782 Mil |
| Fund Total Assets: | $3,050 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 3% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 13.8 years | |||
| Average Tenure: 7.3 years | |||
| Managers (Year): Klimo Scott (2012), Salam Monem (2018), Mitchell Jason (2026) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 32 |
| % in Top 10 Holdings: | 60.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 26.8% |
Portfolio Allocation |
|
| Domestic Stock: | 69.4% |
| Foreign Stock: | 26.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 3.7% |
Purchase Information
| Fund Family: | Amana |
| Phone Number: | 888-732-6262 |
| Website: | www.amanafunds.com |
| Status: | Open |
| Inception Date: | February 3, 1994 |
| Min. Initial Purchase: | $ 100 |
| 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: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 0.86% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.96% |
| Share Class: | Amana Growth Investor |
| Min. Subsequent Purchase: | $ 25 |
| Min. Subsequent IRA Purchase: | $ 0 |
