Back to top

Image: Bigstock

Is Oppenheimer Global Opportunities Y (OGIYX) a Strong Mutual Fund Pick Right Now?

Read MoreHide Full Article

Global - Equity fund seekers may want to consider taking a look at Oppenheimer Global Opportunities Y (OGIYX - Free Report) . OGIYX carries a Zacks Mutual Fund Rank of 3 (Hold), which is based on nine forecasting factors like size, cost, and past performance.

Objective

Zacks categorizes OGIYX as Global - Equity, which is a segment packed with options. Global - Equity mutual funds invest in large markets like the U.S., Europe, and Japan, and operate with very few geographical limitations. They also provide an investment technique that leverages the diverse nature of the global economy in the hopes of providing a stable return.

History of Fund/Manager

Invesco is responsible for OGIYX, and the company is based out of Kansas City, MO. Since Oppenheimer Global Opportunities Y made its debut in February of 2001, OGIYX has garnered more than $2.56 billion in assets. Frank Jennings is the fund's current manager and has held that role since February of 2001.

Performance

Of course, investors look for strong performance in funds. This fund carries a 5-year annualized total return of 24.08%, and it sits 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 11.61%, 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. Over the past three years, OGIYX's standard deviation comes in at 26.19%, compared to the category average of 16.4%. Looking at the past 5 years, the fund's standard deviation is 22.83% compared to the category average of 13.55%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

Investors should not forget about beta, an important way to measure a mutual fund's risk compared to the market as a whole. OGIYX has a 5-year beta of 1.3, which means it 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. The fund has produced a positive alpha over the past 5 years of 3.62, which shows that managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.

Expenses

Costs are increasingly important for mutual fund investing, and particularly as competition heats up in this market. And all things being equal, a lower cost product will outperform its otherwise identical counterpart, so taking a closer look at these metrics is key for investors. In terms of fees, OGIYX is a no load fund. It has an expense ratio of 0.86% compared to the category average of 1.14%. OGIYX is actually cheaper than its peers when you consider factors like cost.

This fund requires a minimum initial investment of $1,000, and each subsequent investment should be at least $50.

Bottom Line

Overall, Oppenheimer Global Opportunities Y ( OGIYX ) 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.

Want even more information about OGIYX? 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. 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.


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Invesco Global Opportunities Y (OGIYX) - free report >>

Published in