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Is Oppenheimer Global Opportunities A (OPGIX) a Strong Mutual Fund Pick Right Now?
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Mutual Fund Equity Report fund seekers should not consider taking a look at Oppenheimer Global Opportunities A (OPGIX - Free Report) at this time. OPGIX carries a Zacks Mutual Fund Rank of 5 (Strong Sell), which is based on nine forecasting factors like size, cost, and past performance.
History of Fund/Manager
Invesco is based in Kansas City, MO, and is the manager of OPGIX. Oppenheimer Global Opportunities A made its debut in October of 1990, and since then, OPGIX has accumulated about $3.85 billion in assets, per the most up-to-date date available. The fund is currently managed by Frank Jennings who has been in charge of the fund since October of 1995.
Performance
Of course, investors look for strong performance in funds. OPGIX has a 5-year annualized total return of 17.41% 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 21.33%, 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. The standard deviation of OPGIX over the past three years is 22.65% compared to the category average of 15.81%. Over the past 5 years, the standard deviation of the fund is 22.21% compared to the category average of 13.76%. 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 1.18, so it is likely going to be more volatile than 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. The fund has produced a negative alpha over the past 5 years of -2.76, which shows that 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, OPGIX is a load fund. It has an expense ratio of 1.02% compared to the category average of 1.11%. From a cost perspective, OPGIX is actually cheaper than its peers.
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, this fund looks like a somewhat weak choice for investors right now.
For additional information on the Mutual Fund Equity Report area of the mutual fund world, make sure to check out www.zacks.com/funds/mutual-funds. There, you can see more about the ranking process, and dive even deeper into OPGIX too 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.
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Is Oppenheimer Global Opportunities A (OPGIX) a Strong Mutual Fund Pick Right Now?
Mutual Fund Equity Report fund seekers should not consider taking a look at Oppenheimer Global Opportunities A (OPGIX - Free Report) at this time. OPGIX carries a Zacks Mutual Fund Rank of 5 (Strong Sell), which is based on nine forecasting factors like size, cost, and past performance.
History of Fund/Manager
Invesco is based in Kansas City, MO, and is the manager of OPGIX. Oppenheimer Global Opportunities A made its debut in October of 1990, and since then, OPGIX has accumulated about $3.85 billion in assets, per the most up-to-date date available. The fund is currently managed by Frank Jennings who has been in charge of the fund since October of 1995.
Performance
Of course, investors look for strong performance in funds. OPGIX has a 5-year annualized total return of 17.41% 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 21.33%, 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. The standard deviation of OPGIX over the past three years is 22.65% compared to the category average of 15.81%. Over the past 5 years, the standard deviation of the fund is 22.21% compared to the category average of 13.76%. 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 1.18, so it is likely going to be more volatile than 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. The fund has produced a negative alpha over the past 5 years of -2.76, which shows that 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, OPGIX is a load fund. It has an expense ratio of 1.02% compared to the category average of 1.11%. From a cost perspective, OPGIX is actually cheaper than its peers.
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, this fund looks like a somewhat weak choice for investors right now.
For additional information on the Mutual Fund Equity Report area of the mutual fund world, make sure to check out www.zacks.com/funds/mutual-funds. There, you can see more about the ranking process, and dive even deeper into OPGIX too 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.