Any investors hoping to find a Mutual Fund Equity Report fund could think about starting with Fidelity Small Cap Value (FCPVX Quick QuoteFCPVX - Free Report) . FCPVX carries a Zacks Mutual Fund Rank of 3 (Hold), which is based on nine forecasting factors like size, cost, and past performance.

History of Fund/Manager

FCPVX is a part of the Fidelity family of funds, a company based out of Boston, MA. The Fidelity Small Cap Value made its debut in November of 2004 and FCPVX has managed to accumulate roughly $2.95 billion in assets, as of the most recently available information. The fund's current manager, Derek Janssen, has been in charge of the fund since February of 2021.

Performance

Of course, investors look for strong performance in funds. This fund has delivered a 5-year annualized total return of 11.69%, and is in the top third among its category peers. If you're interested in shorter time frames, do not dismiss looking at the fund's 3-year annualized total return of 17.57%, 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. FCPVX's standard deviation over the past three years is 24.3% compared to the category average of 16.42%. Over the past 5 years, the standard deviation of the fund is 20.82% compared to the category average of 14.49%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

With a 5-year beta of 1.11, the fund is likely to be more volatile than the market average. 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. With a negative alpha of -3.7, managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.

Holdings

Examining 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 primarily on equities that are traded in the United States.

The mutual fund currently has 78.53% of its holdings in stocks, and these companies have an average market capitalization of $6.28 billion. The fund has the heaviest exposure to the following market sectors:

1. Finance
2. Other
3. Retail Trade

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, FCPVX is a no load fund. It has an expense ratio of 0.96% compared to the category average of 1.21%. FCPVX is actually cheaper than its peers when you consider factors like cost.

This fund requires a minimum initial investment of $0, while there is no minimum for each subsequent investment.

Bottom Line

Overall, Fidelity Small Cap Value ( FCPVX ) has a neutral Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, worse downside risk, and lower fees, this fund looks like a somewhat average choice for investors right now.

This could just be the start of your research on FCPVXin 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.