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Is Fidelity Low-Priced Stock K (FLPKX) a Strong Mutual Fund Pick Right Now?
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If you have been looking for Mid Cap Value funds, a place to start could be Fidelity Low-Priced Stock K (FLPKX - Free Report) . FLPKX holds a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on nine forecasting factors like size, cost, and past performance.
Objective
FLPKX is one of many Mid Cap Value mutual funds to choose from. Mid Cap Value funds usually invest in companies with a stock market valuation between $2 billion and $10 billion; these medium-sized firms possess strong value and income opportunities for investors.
History of Fund/Manager
FLPKX finds itself in the Fidelity family, based out of Boston, MA. Since Fidelity Low-Priced Stock K made its debut in May of 2008, FLPKX has garnered more than $5.23 billion in assets. The fund's current manager is a team of investment professionals.
Performance
Investors naturally seek funds with strong performance. FLPKX has a 5-year annualized total return of 12.53% 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 11.85%, 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. Compared to the category average of 19.8%, the standard deviation of FLPKX over the past three years is 20.65%. Over the past 5 years, the standard deviation of the fund is 16.49% compared to the category average of 16.11%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
Investors should note that the fund has a 5-year beta of 1, so it is likely going to be as volatile as the market at large. Another factor to consider is alpha, as it reflects a portfolio's performance on a risk-adjusted basis relative to a benchmark-in this case, the S&P 500. FLPKX's 5-year performance has produced a negative alpha of -3.6, which means managers in this portfolio find it difficult to pick 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, FLPKX is a no load fund. It has an expense ratio of 0.56% compared to the category average of 1.12%. FLPKX is actually cheaper than its peers when you consider factors like cost.
While the minimum initial investment for the product is $0, investors should also note that there is no minimum for each subsequent investment.
Bottom Line
Overall, Fidelity Low-Priced Stock K ( FLPKX ) 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 K ( FLPKX ) looks like a good potential choice for investors right now.
For additional information on this product, or to compare it to other mutual funds in the Mid Cap Value, make sure to go to www.zacks.com/funds/mutual-funds for additional information. Zacks provides a full suite of tools to help you analyze your portfolio - both funds and stocks - in the most efficient way possible.
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Is Fidelity Low-Priced Stock K (FLPKX) a Strong Mutual Fund Pick Right Now?
If you have been looking for Mid Cap Value funds, a place to start could be Fidelity Low-Priced Stock K (FLPKX - Free Report) . FLPKX holds a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on nine forecasting factors like size, cost, and past performance.
Objective
FLPKX is one of many Mid Cap Value mutual funds to choose from. Mid Cap Value funds usually invest in companies with a stock market valuation between $2 billion and $10 billion; these medium-sized firms possess strong value and income opportunities for investors.
History of Fund/Manager
FLPKX finds itself in the Fidelity family, based out of Boston, MA. Since Fidelity Low-Priced Stock K made its debut in May of 2008, FLPKX has garnered more than $5.23 billion in assets. The fund's current manager is a team of investment professionals.
Performance
Investors naturally seek funds with strong performance. FLPKX has a 5-year annualized total return of 12.53% 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 11.85%, 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. Compared to the category average of 19.8%, the standard deviation of FLPKX over the past three years is 20.65%. Over the past 5 years, the standard deviation of the fund is 16.49% compared to the category average of 16.11%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
Investors should note that the fund has a 5-year beta of 1, so it is likely going to be as volatile as the market at large. Another factor to consider is alpha, as it reflects a portfolio's performance on a risk-adjusted basis relative to a benchmark-in this case, the S&P 500. FLPKX's 5-year performance has produced a negative alpha of -3.6, which means managers in this portfolio find it difficult to pick 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, FLPKX is a no load fund. It has an expense ratio of 0.56% compared to the category average of 1.12%. FLPKX is actually cheaper than its peers when you consider factors like cost.
While the minimum initial investment for the product is $0, investors should also note that there is no minimum for each subsequent investment.
Bottom Line
Overall, Fidelity Low-Priced Stock K ( FLPKX ) 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 K ( FLPKX ) looks like a good potential choice for investors right now.
For additional information on this product, or to compare it to other mutual funds in the Mid Cap Value, make sure to go to www.zacks.com/funds/mutual-funds for additional information. Zacks provides a full suite of tools to help you analyze your portfolio - both funds and stocks - in the most efficient way possible.