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Is Fidelity Select Brokerage and Investment Management (FSLBX) a Strong Mutual Fund Pick Right Now?
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If you have been looking for Mutual Fund Equity Report funds, a place to start could be Fidelity Select Brokerage and Investment Management (FSLBX - Free Report) . FSLBX holds a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
FSLBX is a part of the Fidelity family of funds, a company based out of Boston, MA. Since Fidelity Select Brokerage and Investment Management made its debut in July of 1985, FSLBX has garnered more than $729.74 million in assets. Pierre Sorel is the fund's current manager and has held that role since April of 2023.
Performance
Of course, investors look for strong performance in funds. This fund carries a 5-year annualized total return of 12.36%, and is in the top third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 16.3%, which places it in the middle third during this time-frame.
It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.
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 FSLBX over the past three years is 23.76% compared to the category average of 24.27%. The fund's standard deviation over the past 5 years is 23.16% compared to the category average of 25.78%. This makes the fund less volatile than its peers over the past half-decade.
Risk Factors
With a 5-year beta of 1.12, the fund is likely to be more volatile than the market average. Because alpha represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which is the S&P 500 in this case, one should pay attention to this metric as well. The fund has produced a negative alpha over the past 5 years of -0.37, which shows that 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 primarily on equities that are traded in the United States.
The mutual fund currently has 75.24% of its holdings in stocks and it has a negligible amount of assets in foreign securities. With turnover at about 4%, this fund makes fewer trades than its comparable peers.
Expenses
For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, FSLBX is a no load fund. It has an expense ratio of 0.74% compared to the category average of 1.48%. FSLBX 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.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, Fidelity Select Brokerage and Investment Management ( FSLBX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, this fund looks like a good potential 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 FSLBX too 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 Fidelity Select Brokerage and Investment Management (FSLBX) a Strong Mutual Fund Pick Right Now?
If you have been looking for Mutual Fund Equity Report funds, a place to start could be Fidelity Select Brokerage and Investment Management (FSLBX - Free Report) . FSLBX holds a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
FSLBX is a part of the Fidelity family of funds, a company based out of Boston, MA. Since Fidelity Select Brokerage and Investment Management made its debut in July of 1985, FSLBX has garnered more than $729.74 million in assets. Pierre Sorel is the fund's current manager and has held that role since April of 2023.
Performance
Of course, investors look for strong performance in funds. This fund carries a 5-year annualized total return of 12.36%, and is in the top third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 16.3%, which places it in the middle third during this time-frame.
It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.
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 FSLBX over the past three years is 23.76% compared to the category average of 24.27%. The fund's standard deviation over the past 5 years is 23.16% compared to the category average of 25.78%. This makes the fund less volatile than its peers over the past half-decade.
Risk Factors
With a 5-year beta of 1.12, the fund is likely to be more volatile than the market average. Because alpha represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which is the S&P 500 in this case, one should pay attention to this metric as well. The fund has produced a negative alpha over the past 5 years of -0.37, which shows that 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 primarily on equities that are traded in the United States.
The mutual fund currently has 75.24% of its holdings in stocks and it has a negligible amount of assets in foreign securities. With turnover at about 4%, this fund makes fewer trades than its comparable peers.
Expenses
For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, FSLBX is a no load fund. It has an expense ratio of 0.74% compared to the category average of 1.48%. FSLBX 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.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, Fidelity Select Brokerage and Investment Management ( FSLBX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, this fund looks like a good potential 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 FSLBX too 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.