If investors are looking at the Global - Equity fund category, make sure to pass over Oppenheimer Global Opportunities A (OPGIX Quick QuoteOPGIX - Free Report) . OPGIX bears a Zacks Mutual Fund Rank of 4 (Sell), which is based on nine forecasting factors like size, cost, and past performance.

Objective

Zacks categorizes OPGIX as Global - Equity, which is a segment packed with options. Global - Equity mutual funds invest in large markets like the U.S., Europe, and Japan, and operate with very few geographical limitations. They also provide an investment technique that leverages the diverse nature of the global economy in the hopes of providing a stable return.

History of Fund/Manager

OPGIX finds itself in the Invesco family, based out of Kansas City, MO. Since Oppenheimer Global Opportunities A made its debut in October of 1990, OPGIX has garnered more than $4.26 billion in assets. The fund's current manager, Frank Jennings, has been in charge of the fund since October of 1995.

Performance

Investors naturally seek funds with strong performance. This fund has delivered a 5-year annualized total return of 21.26%, 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 14.7%, 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. Over the past three years, OPGIX's standard deviation comes in at 25.87%, compared to the category average of 16.43%. Over the past 5 years, the standard deviation of the fund is 22.48% compared to the category average of 13.52%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

Investors should not forget about beta, an important way to measure a mutual fund's risk compared to the market as a whole. OPGIX has a 5-year beta of 1.24, which means it is likely to be more volatile than the market average. 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. OPGIX has generated a positive alpha over the past five years of 0.36, demonstrating that managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.

Expenses

As competition heats up in the mutual fund market, costs become increasingly important. Compared to its otherwise identical counterpart, a low-cost product will be an outperformer, all other things being equal. Thus, taking a closer look at cost-related metrics is vital for investors. In terms of fees, OPGIX is a load fund. It has an expense ratio of 1.10% compared to the category average of 1.13%. OPGIX is actually cheaper than its peers when you consider factors like cost.

While the minimum initial investment for the product is $1,000, investors should also note that each subsequent investment needs to be at least $50.

Bottom Line

Overall, Oppenheimer Global Opportunities A ( OPGIX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, worse downside risk, and lower fees, Oppenheimer Global Opportunities A ( OPGIX ) looks like a somewhat weak choice for investors right now.

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