Any investors hoping to find a Mutual Fund Equity Report fund might consider looking past American Century Mid Cap Value Investor (ACMVX Quick QuoteACMVX - Free Report) . ACMVX carries a Zacks Mutual Fund Rank of 4 (Sell), which is based on nine forecasting factors like size, cost, and past performance.

History of Fund/Manager

ACMVX is a part of the American Century family of funds, a company based out of Kansas City, MO. American Century Mid Cap Value Investor made its debut in March of 2004, and since then, ACMVX has accumulated about $2.35 billion in assets, per the most up-to-date date available. A team of investment professionals is the fund's current manager.

Performance

Investors naturally seek funds with strong performance. ACMVX has a 5-year annualized total return of 10.67% 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 13.25%, 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. ACMVX's standard deviation over the past three years is 20.36% compared to the category average of 16.32%. Looking at the past 5 years, the fund's standard deviation is 16.96% compared to the category average of 13.43%. 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 1.02, so it is likely going to be as volatile as the market at large. Alpha is an additional metric to take into consideration, since it represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which in this case, is the S&P 500. ACMVX's 5-year performance has produced a negative alpha of -7.12, which means managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.

Holdings

Exploring the equity holdings of a mutual fund is also a valuable exercise. This can show us how the manager is applying their stated methodology, as well as if there are any inherent biases in their approach. For this particular fund, the focus is mostly on equities that are traded in the United States.

This fund is currently holding about 80.48% stock in stocks, and these companies have an average market capitalization of $26.27 billion. The fund has the heaviest exposure to the following market sectors:

1. Finance
2. Industrial Cyclical
3. Retail Trade

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, ACMVX is a no load fund. It has an expense ratio of 0.97% compared to the category average of 1.12%. ACMVX is actually cheaper than its peers when you consider factors like cost.

Investors should also note that the minimum initial investment for the product is $2,500 and that each subsequent investment needs to be at $50.

Bottom Line

Overall, American Century Mid Cap Value Investor ( ACMVX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and lower fees, American Century Mid Cap Value Investor ( ACMVX ) looks like a somewhat weak choice for investors right now.

This could just be the start of your research on ACMVXin the Mutual Fund Equity Report category. Consider going to www.zacks.com/funds/mutual-funds for additional information about this fund, and all the others that we rank as well for additional information. If you want to check out our stock reports as well, make sure to go to Zacks.com to see all of the great tools we have to offer, including our time-tested Zacks Rank.