If you've been stuck searching for Mid Cap Value funds, consider Fidelity Low-Priced Stock (FLPSX Quick QuoteFLPSX - Free Report) as a possibility. FLPSX possesses a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on nine forecasting factors like size, cost, and past performance.

Objective

The world of Mid Cap Value funds is an area filled with options, like FLPSX. Targeting medium-sized companies with a market cap between $2 billion and $10 billion, Mid Cap Value mutual funds more often than not choose stocks that hold solid value and income investment opportunities.

History of Fund/Manager

FLPSX is a part of the Fidelity family of funds, a company based out of Boston, MA. The Fidelity Low-Priced Stock made its debut in December of 1989 and FLPSX has managed to accumulate roughly $23.87 billion in assets, as of the most recently available information. A team of investment professionals is the fund's current manager.

Performance

Investors naturally seek funds with strong performance. This fund has delivered a 5-year annualized total return of 11.55%, and it sits in the top third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of 6.08%, which places it in the top third during this time-frame.

When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. FLPSX's standard deviation over the past three years is 20.23% compared to the category average of 19.43%. The standard deviation of the fund over the past 5 years is 16.21% compared to the category average of 16.22%. This makes the fund less volatile than its peers over the past half-decade.

Risk Factors

Investors should note that the fund has a 5-year beta of 1.01, which means it is hypothetically as volatile as the market at large. Because alpha represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which is the S&P 500 in this case, one should pay attention to this metric as well. FLPSX's 5-year performance has produced a negative alpha of -3.97, which means managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.

Expenses

For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, FLPSX is a no load fund. It has an expense ratio of 0.78% compared to the category average of 1.13%. Looking at the fund from a cost perspective, FLPSX is actually cheaper than its peers.

This fund requires a minimum initial investment of $0, while there is no minimum for each subsequent investment.

Bottom Line

Overall, Fidelity Low-Priced Stock ( FLPSX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, Fidelity Low-Priced Stock ( FLPSX ) looks like a good potential choice for investors right now.

Don't stop here for your research on Mid Cap Value funds. We also have plenty more on our site in order to help you find the best possible fund for your portfolio. Make sure to check out www.zacks.com/funds/mutual-funds for more information about the world of funds, and feel free to compare FLPSX to its peers as well for additional information. Want to learn even more? We have a full suite of tools on stocks that you can use to find the best choices for your portfolio too, no matter what kind of investor you are.