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Is Oppenheimer Developing Markets Y (ODVYX) a Strong Mutual Fund Pick Right Now?
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If you've been stuck searching for Non US - Equity funds, consider Oppenheimer Developing Markets Y (ODVYX - Free Report) as a possibility. ODVYX holds a Zacks Mutual Fund Rank of 2 (Buy), which is based on nine forecasting factors like size, cost, and past performance.
Objective
Zacks categorizes ODVYX as Non US - Equity, a segment stacked high with options. Non US - Equity mutual funds like to invest in companies outside of the United States, an important characteristic since global mutual funds are known to keep a good portion of their portfolio stateside. These kinds of funds can often extend across all cap levels, and will typically allocate their investments between emerging and developed markets.
History of Fund/Manager
Invesco is based in Kansas City, MO, and is the manager of ODVYX. Oppenheimer Developing Markets Y debuted in September of 2005. Since then, ODVYX has accumulated assets of about $22.44 billion, according to the most recently available information. Justin Leverenz is the fund's current manager and has held that role since May of 2007.
Performance
Obviously, what investors are looking for in these funds is strong performance relative to their peers. This fund carries a 5-year annualized total return of 12.74%, and it sits 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 7.99%, 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. Over the past three years, ODVYX's standard deviation comes in at 18.49%, compared to the category average of 16.03%. The fund's standard deviation over the past 5 years is 15.64% compared to the category average of 13.37%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
With a 5-year beta of 0.82, the fund is likely to be less 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. With a negative alpha of -0.24, 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, ODVYX is a no load fund. It has an expense ratio of 0.97% compared to the category average of 1.18%. ODVYX is actually cheaper than its peers when you consider factors like cost.
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, Oppenheimer Developing Markets Y ( ODVYX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and lower fees, Oppenheimer Developing Markets Y ( ODVYX ) looks like a great potential choice for investors right now.
Don't stop here for your research on Non US - Equity 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 ODVYX to its peers as well for additional information. Zacks provides a full suite of tools to help you analyze your portfolio - both funds and stocks - in the most efficient way possible.
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Is Oppenheimer Developing Markets Y (ODVYX) a Strong Mutual Fund Pick Right Now?
If you've been stuck searching for Non US - Equity funds, consider Oppenheimer Developing Markets Y (ODVYX - Free Report) as a possibility. ODVYX holds a Zacks Mutual Fund Rank of 2 (Buy), which is based on nine forecasting factors like size, cost, and past performance.
Objective
Zacks categorizes ODVYX as Non US - Equity, a segment stacked high with options. Non US - Equity mutual funds like to invest in companies outside of the United States, an important characteristic since global mutual funds are known to keep a good portion of their portfolio stateside. These kinds of funds can often extend across all cap levels, and will typically allocate their investments between emerging and developed markets.
History of Fund/Manager
Invesco is based in Kansas City, MO, and is the manager of ODVYX. Oppenheimer Developing Markets Y debuted in September of 2005. Since then, ODVYX has accumulated assets of about $22.44 billion, according to the most recently available information. Justin Leverenz is the fund's current manager and has held that role since May of 2007.
Performance
Obviously, what investors are looking for in these funds is strong performance relative to their peers. This fund carries a 5-year annualized total return of 12.74%, and it sits 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 7.99%, 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. Over the past three years, ODVYX's standard deviation comes in at 18.49%, compared to the category average of 16.03%. The fund's standard deviation over the past 5 years is 15.64% compared to the category average of 13.37%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
With a 5-year beta of 0.82, the fund is likely to be less 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. With a negative alpha of -0.24, 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, ODVYX is a no load fund. It has an expense ratio of 0.97% compared to the category average of 1.18%. ODVYX is actually cheaper than its peers when you consider factors like cost.
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, Oppenheimer Developing Markets Y ( ODVYX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and lower fees, Oppenheimer Developing Markets Y ( ODVYX ) looks like a great potential choice for investors right now.
Don't stop here for your research on Non US - Equity 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 ODVYX to its peers as well for additional information. Zacks provides a full suite of tools to help you analyze your portfolio - both funds and stocks - in the most efficient way possible.