Global - Equity fund seekers should not consider taking a look at Oppenheimer Global Opportunities Y (
OGIYX Quick Quote OGIYX - Free Report) at this time. OGIYX has a Zacks Mutual Fund Rank of 4 (Sell), 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. The Oppenheimer Global Opportunities Y made its debut in February of 2001 and OGIYX has managed to accumulate roughly $2.57 billion in assets, as of the most recently available information. The fund's current manager, Frank Jennings, has been in charge of the fund since February of 2001.
Investors naturally seek funds with strong performance. This fund has delivered a 5-year annualized total return of 19.55%, and is 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 14.21%, 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. The standard deviation of OGIYX over the past three years is 25.89% compared to the category average of 16.45%. Looking at the past 5 years, the fund's standard deviation is 22.26% compared to the category average of 13.49%. This makes the fund more volatile than its peers over the past half-decade.
With a 5-year beta of 1.23, the fund 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 negative alpha over the past 5 years of -0.62, which shows that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
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 0.78% compared to the category average of 1.13%. From a cost perspective, OGIYX is actually cheaper than its peers.
This fund requires a minimum initial investment of $1,000, and each subsequent investment should be at least $50.
Overall, Oppenheimer Global Opportunities Y ( OGIYX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, worse downside risk, and lower fees, Oppenheimer Global Opportunities Y ( OGIYX ) looks like a somewhat weak choice for investors right now.
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