Any investors hoping to find a Non US - Equity fund might consider looking past American Century International Opportunity Institutional (ACIOX Quick QuoteACIOX - Free Report) . ACIOX bears a Zacks Mutual Fund Rank of 4 (Sell), which is based on nine forecasting factors like size, cost, and past performance.

Objective

We classify ACIOX in the Non US - Equity category, which is an area rife with potential choices. Investing in companies outside the United States is how Non US - Equity funds set themselves apart, since global funds tend to keep a good portion of their portfolio stateside. Many of these funds like to allocate across emerging and developed markets, and will often focus on all cap levels.

History of Fund/Manager

ACIOX finds itself in the American Century family, based out of Kansas City, MO. The American Century International Opportunity Institutional made its debut in January of 2003 and ACIOX has managed to accumulate roughly $147.12 million in assets, as of the most recently available information. A team of investment professionals is the fund's current manager.

Performance

Obviously, what investors are looking for in these funds is strong performance relative to their peers. This fund in particular has delivered a 5-year annualized total return of 13.38%, and is 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 13.03%, 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. ACIOX's standard deviation over the past three years is 21.71% compared to the category average of 16.26%. Over the past 5 years, the standard deviation of the fund is 17.94% compared to the category average of 13.45%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

The fund has a 5-year beta of 1, so investors should note that it is hypothetically 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. ACIOX has generated a negative alpha over the past five years of -2.65, demonstrating that 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, ACIOX is a no load fund. It has an expense ratio of 1.16% compared to the category average of 1.18%. ACIOX is actually cheaper than its peers when you consider factors like cost.

This fund requires a minimum initial investment of $5 million, and each subsequent investment should be at least $50.

Bottom Line

Overall, American Century International Opportunity Institutional ( ACIOX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, American Century International Opportunity Institutional ( ACIOX ) looks like a somewhat weak 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 ACIOX 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.