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Is Fidelity Worldwide (FWWFX) a Strong Mutual Fund Pick Right Now?
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Having trouble finding a Global - Equity fund? Fidelity Worldwide (FWWFX - Free Report) is a potential starting point. FWWFX carries a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance.
Objective
FWWFX is classified in the Global - Equity segment by Zacks, an area full of possibilities. Even though Global - Equity mutual funds invest in bigger markets like the U.S., Europe, and Japan, these kinds of funds aren't limited by geography. Rather, they offer an investment strategy that utilizes the global economy to provide stable returns.
History of Fund/Manager
Fidelity is based in Boston, MA, and is the manager of FWWFX. The Fidelity Worldwide made its debut in May of 1990 and FWWFX has managed to accumulate roughly $2.57 billion in assets, as of the most recently available information. Stephen DuFour is the fund's current manager and has held that role since October of 2007.
Performance
Obviously, what investors are looking for in these funds is strong performance relative to their peers. This fund in particular has delivered a 5-year annualized total return of 13.45%, 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 6.79%, 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 FWWFX over the past three years is 18.12% compared to the category average of 14.83%. The fund's standard deviation over the past 5 years is 18.59% compared to the category average of 15.74%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
With a 5-year beta of 0.97, 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. The fund has produced a negative alpha over the past 5 years of -0.73, which shows that managers in this portfolio find it difficult to pick 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, FWWFX is a no load fund. It has an expense ratio of 0.66% compared to the category average of 0.96%. From a cost perspective, FWWFX 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 Worldwide ( FWWFX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, Fidelity Worldwide ( FWWFX ) looks like a good potential choice for investors right now.
This could just be the start of your research on FWWFXin the Global - Equity 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. 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 Worldwide (FWWFX) a Strong Mutual Fund Pick Right Now?
Having trouble finding a Global - Equity fund? Fidelity Worldwide (FWWFX - Free Report) is a potential starting point. FWWFX carries a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance.
Objective
FWWFX is classified in the Global - Equity segment by Zacks, an area full of possibilities. Even though Global - Equity mutual funds invest in bigger markets like the U.S., Europe, and Japan, these kinds of funds aren't limited by geography. Rather, they offer an investment strategy that utilizes the global economy to provide stable returns.
History of Fund/Manager
Fidelity is based in Boston, MA, and is the manager of FWWFX. The Fidelity Worldwide made its debut in May of 1990 and FWWFX has managed to accumulate roughly $2.57 billion in assets, as of the most recently available information. Stephen DuFour is the fund's current manager and has held that role since October of 2007.
Performance
Obviously, what investors are looking for in these funds is strong performance relative to their peers. This fund in particular has delivered a 5-year annualized total return of 13.45%, 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 6.79%, 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 FWWFX over the past three years is 18.12% compared to the category average of 14.83%. The fund's standard deviation over the past 5 years is 18.59% compared to the category average of 15.74%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
With a 5-year beta of 0.97, 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. The fund has produced a negative alpha over the past 5 years of -0.73, which shows that managers in this portfolio find it difficult to pick 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, FWWFX is a no load fund. It has an expense ratio of 0.66% compared to the category average of 0.96%. From a cost perspective, FWWFX 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 Worldwide ( FWWFX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, Fidelity Worldwide ( FWWFX ) looks like a good potential choice for investors right now.
This could just be the start of your research on FWWFXin the Global - Equity 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. 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.