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Is Invesco International Small-Mid Company A (OSMAX) a Strong Mutual Fund Pick Right Now?
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Mutual Fund Equity Report fund seekers should not consider taking a look at Invesco International Small-Mid Company A (OSMAX - Free Report) at this time. OSMAX has 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
Invesco is based in Kansas City, MO, and is the manager of OSMAX. Invesco International Small-Mid Company A made its debut in November of 1997, and since then, OSMAX has accumulated about $787.31 million in assets, per the most up-to-date date available. The fund's current manager, David Nadel, has been in charge of the fund since November of 2019.
Performance
Investors naturally seek funds with strong performance. This fund carries a 5-year annualized total return of 1.37%, and it sits 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 -1.76%, 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. The standard deviation of OSMAX over the past three years is 23.87% compared to the category average of 18.06%. Over the past 5 years, the standard deviation of the fund is 20.47% compared to the category average of 15.75%. 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, which means 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. Over the past 5 years, the fund has a negative alpha of -8.1. This means 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, OSMAX is a load fund. It has an expense ratio of 1.30% compared to the category average of 1.15%. From a cost perspective, OSMAX is actually more expensive than its peers.
Investors should also note that the minimum initial investment for the product is $1,000 and that each subsequent investment needs to be at $50.
Bottom Line
Overall, Invesco International Small-Mid Company A ( OSMAX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and higher fees, Invesco International Small-Mid Company A ( OSMAX ) looks like a poor potential choice for investors right now.
Want even more information about OSMAX? Then go over to Zacks.com and check out our mutual fund comparison tool, and all of the other great features that we have to help you with your mutual fund analysis for additional information. And don't forget, Zacks has all of your needs covered on the equity side too! Make sure to check out Zacks.com for more information on our screening capabilities, Rank, and all our articles as well.
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Is Invesco International Small-Mid Company A (OSMAX) a Strong Mutual Fund Pick Right Now?
Mutual Fund Equity Report fund seekers should not consider taking a look at Invesco International Small-Mid Company A (OSMAX - Free Report) at this time. OSMAX has 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
Invesco is based in Kansas City, MO, and is the manager of OSMAX. Invesco International Small-Mid Company A made its debut in November of 1997, and since then, OSMAX has accumulated about $787.31 million in assets, per the most up-to-date date available. The fund's current manager, David Nadel, has been in charge of the fund since November of 2019.
Performance
Investors naturally seek funds with strong performance. This fund carries a 5-year annualized total return of 1.37%, and it sits 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 -1.76%, 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. The standard deviation of OSMAX over the past three years is 23.87% compared to the category average of 18.06%. Over the past 5 years, the standard deviation of the fund is 20.47% compared to the category average of 15.75%. 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, which means 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. Over the past 5 years, the fund has a negative alpha of -8.1. This means 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, OSMAX is a load fund. It has an expense ratio of 1.30% compared to the category average of 1.15%. From a cost perspective, OSMAX is actually more expensive than its peers.
Investors should also note that the minimum initial investment for the product is $1,000 and that each subsequent investment needs to be at $50.
Bottom Line
Overall, Invesco International Small-Mid Company A ( OSMAX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and higher fees, Invesco International Small-Mid Company A ( OSMAX ) looks like a poor potential choice for investors right now.
Want even more information about OSMAX? Then go over to Zacks.com and check out our mutual fund comparison tool, and all of the other great features that we have to help you with your mutual fund analysis for additional information. And don't forget, Zacks has all of your needs covered on the equity side too! Make sure to check out Zacks.com for more information on our screening capabilities, Rank, and all our articles as well.