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Is Fidelity International Growth (FIGFX) a Strong Mutual Fund Pick Right Now?
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Looking for a Non US - Equity fund? You may want to consider Fidelity International Growth (FIGFX - Free Report) as a possible option. FIGFX possesses a Zacks Mutual Fund Rank of 3 (Hold), which is based on nine forecasting factors like size, cost, and past performance.
Objective
Zacks categorizes FIGFX as Non US - Equity, a segment stacked high with options. Non US - Equity mutual funds like to invest in companies outside of the United States, an important characteristic since global mutual funds are known to keep a good portion of their portfolio stateside. These kinds of funds can often extend across all cap levels, and will typically allocate their investments between emerging and developed markets.
History of Fund/Manager
FIGFX finds itself in the Fidelity family, based out of Boston, MA. The Fidelity International Growth made its debut in November of 2007 and FIGFX has managed to accumulate roughly $1.70 billion in assets, as of the most recently available information. The fund's current manager, Jes Weiss, has been in charge of the fund since November of 2007.
Performance
Of course, investors look for strong performance in funds. This fund in particular has delivered a 5-year annualized total return of 13.07%, and it sits in the middle 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 14.67%, which places it in the middle 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. FIGFX's standard deviation over the past three years is 16.28% compared to the category average of 15.43%. Over the past 5 years, the standard deviation of the fund is 13.79% compared to the category average of 12.8%. 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 0.81, which means it is hypothetically less volatile than 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. With a negative alpha of -0.49, managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
Expenses
Costs are increasingly important for mutual fund investing, and particularly as competition heats up in this market. And all things being equal, a lower cost product will outperform its otherwise identical counterpart, so taking a closer look at these metrics is key for investors. In terms of fees, FIGFX is a no load fund. It has an expense ratio of 0.96% compared to the category average of 1.18%. So, FIGFX is actually cheaper than its peers from a cost perspective.
Investors should also note that the minimum initial investment for the product is $0 and that each subsequent investment has no minimum amount.
Bottom Line
Overall, Fidelity International Growth ( FIGFX ) has a neutral Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and lower fees, Fidelity International Growth ( FIGFX ) looks like a somewhat average choice for investors right now.
Don't stop here for your research on Non US - Equity 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 FIGFX to its peers as well 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 International Growth (FIGFX) a Strong Mutual Fund Pick Right Now?
Looking for a Non US - Equity fund? You may want to consider Fidelity International Growth (FIGFX - Free Report) as a possible option. FIGFX possesses a Zacks Mutual Fund Rank of 3 (Hold), which is based on nine forecasting factors like size, cost, and past performance.
Objective
Zacks categorizes FIGFX as Non US - Equity, a segment stacked high with options. Non US - Equity mutual funds like to invest in companies outside of the United States, an important characteristic since global mutual funds are known to keep a good portion of their portfolio stateside. These kinds of funds can often extend across all cap levels, and will typically allocate their investments between emerging and developed markets.
History of Fund/Manager
FIGFX finds itself in the Fidelity family, based out of Boston, MA. The Fidelity International Growth made its debut in November of 2007 and FIGFX has managed to accumulate roughly $1.70 billion in assets, as of the most recently available information. The fund's current manager, Jes Weiss, has been in charge of the fund since November of 2007.
Performance
Of course, investors look for strong performance in funds. This fund in particular has delivered a 5-year annualized total return of 13.07%, and it sits in the middle 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 14.67%, which places it in the middle 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. FIGFX's standard deviation over the past three years is 16.28% compared to the category average of 15.43%. Over the past 5 years, the standard deviation of the fund is 13.79% compared to the category average of 12.8%. 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 0.81, which means it is hypothetically less volatile than 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. With a negative alpha of -0.49, managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
Expenses
Costs are increasingly important for mutual fund investing, and particularly as competition heats up in this market. And all things being equal, a lower cost product will outperform its otherwise identical counterpart, so taking a closer look at these metrics is key for investors. In terms of fees, FIGFX is a no load fund. It has an expense ratio of 0.96% compared to the category average of 1.18%. So, FIGFX is actually cheaper than its peers from a cost perspective.
Investors should also note that the minimum initial investment for the product is $0 and that each subsequent investment has no minimum amount.
Bottom Line
Overall, Fidelity International Growth ( FIGFX ) has a neutral Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and lower fees, Fidelity International Growth ( FIGFX ) looks like a somewhat average choice for investors right now.
Don't stop here for your research on Non US - Equity 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 FIGFX to its peers as well 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.