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Is Fidelity Contrafund K (FCNKX) a Strong Mutual Fund Pick Right Now?
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If investors are looking at the Mutual Fund Equity Report fund category, Fidelity Contrafund K (FCNKX - Free Report) could be a potential option. FCNKX holds a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
Fidelity is based in Boston, MA, and is the manager of FCNKX. Fidelity Contrafund K made its debut in May of 2008, and since then, FCNKX has accumulated about $8.97 billion in assets, per the most up-to-date date available. The fund is currently managed by Will Danoff who has been in charge of the fund since May of 2008.
Performance
Investors naturally seek funds with strong performance. FCNKX has a 5-year annualized total return of 10.1% and is in the middle 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 6.59%, 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. Compared to the category average of 17.56%, the standard deviation of FCNKX over the past three years is 18.37%. Over the past 5 years, the standard deviation of the fund is 19.8% compared to the category average of 18.35%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
With a 5-year beta of 1, the fund is likely to be as volatile as the market average. 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. FCNKX's 5-year performance has produced a positive alpha of 0.35, which means managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.
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, FCNKX is a no load fund. It has an expense ratio of 0.33% compared to the category average of 0.98%. From a cost perspective, FCNKX is actually cheaper than its peers.
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 Contrafund K ( FCNKX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and lower fees, this fund looks like a good potential choice for investors right now.
Don't stop here for your research on Mutual Fund Equity Report funds. We also have plenty more on our site in order to help you find the best possible fund for your portfolio. Make sure to check out www.zacks.com/funds/mutual-funds for more information about the world of funds, and feel free to compare FCNKX to its peers as well for additional information. Want to learn even more? We have a full suite of tools on stocks that you can use to find the best choices for your portfolio too, no matter what kind of investor you are.
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Is Fidelity Contrafund K (FCNKX) a Strong Mutual Fund Pick Right Now?
If investors are looking at the Mutual Fund Equity Report fund category, Fidelity Contrafund K (FCNKX - Free Report) could be a potential option. FCNKX holds a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
Fidelity is based in Boston, MA, and is the manager of FCNKX. Fidelity Contrafund K made its debut in May of 2008, and since then, FCNKX has accumulated about $8.97 billion in assets, per the most up-to-date date available. The fund is currently managed by Will Danoff who has been in charge of the fund since May of 2008.
Performance
Investors naturally seek funds with strong performance. FCNKX has a 5-year annualized total return of 10.1% and is in the middle 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 6.59%, 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. Compared to the category average of 17.56%, the standard deviation of FCNKX over the past three years is 18.37%. Over the past 5 years, the standard deviation of the fund is 19.8% compared to the category average of 18.35%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
With a 5-year beta of 1, the fund is likely to be as volatile as the market average. 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. FCNKX's 5-year performance has produced a positive alpha of 0.35, which means managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.
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, FCNKX is a no load fund. It has an expense ratio of 0.33% compared to the category average of 0.98%. From a cost perspective, FCNKX is actually cheaper than its peers.
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 Contrafund K ( FCNKX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and lower fees, this fund looks like a good potential choice for investors right now.
Don't stop here for your research on Mutual Fund Equity Report funds. We also have plenty more on our site in order to help you find the best possible fund for your portfolio. Make sure to check out www.zacks.com/funds/mutual-funds for more information about the world of funds, and feel free to compare FCNKX to its peers as well for additional information. Want to learn even more? We have a full suite of tools on stocks that you can use to find the best choices for your portfolio too, no matter what kind of investor you are.