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Is Fidelity Four Investor One Index Fund (FFNOX) a Strong Mutual Fund Pick Right Now?
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Investors in search of a Mutual Fund Equity Report fund might want to consider looking at Fidelity Four Investor One Index Fund (FFNOX - Free Report) . While this fund is not tracked by the Zacks Mutual Fund Rank, we were able to examine other factors like performance, volatility, and cost.
History of Fund/Manager
FFNOX is a part of the Fidelity family of funds, a company based out of Boston, MA. Fidelity Four Investor One Index Fund debuted in July of 1999. Since then, FFNOX has accumulated assets of about $8.52 billion, according to the most recently available information. The fund is currently managed by Andrew Dierdorf who has been in charge of the fund since January of 2009.
Performance
Investors naturally seek funds with strong performance. This fund carries a 5-year annualized total return of 12.19%, and is in the top third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of 14.98%, 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. FFNOX's standard deviation over the past three years is 15.15% compared to the category average of 14.79%. The fund's standard deviation over the past 5 years is 13.34% compared to the category average of 12.88%. 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. FFNOX has a 5-year beta of 0.84, which means it is likely to be less volatile than the market average. Because alpha represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which is the S&P 500 in this case, one should pay attention to this metric as well. FFNOX's 5-year performance has produced a negative alpha of -1.77, which means 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, FFNOX is a no load fund. It has an expense ratio of 0.08% compared to the category average of 0.86%. Looking at the fund from a cost perspective, FFNOX is actually cheaper than its peers.
Investors should also note that the minimum initial investment for the product is $0 and that each subsequent investment has no minimum amount.
Bottom Line
This could just be the start of your research on FFNOXin the Mutual Fund Equity Report 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. If you are more of a stock investor, make sure to also check out our Zacks Rank, and our full suite of tools we have available for novice and professional investors alike.
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Is Fidelity Four Investor One Index Fund (FFNOX) a Strong Mutual Fund Pick Right Now?
Investors in search of a Mutual Fund Equity Report fund might want to consider looking at Fidelity Four Investor One Index Fund (FFNOX - Free Report) . While this fund is not tracked by the Zacks Mutual Fund Rank, we were able to examine other factors like performance, volatility, and cost.
History of Fund/Manager
FFNOX is a part of the Fidelity family of funds, a company based out of Boston, MA. Fidelity Four Investor One Index Fund debuted in July of 1999. Since then, FFNOX has accumulated assets of about $8.52 billion, according to the most recently available information. The fund is currently managed by Andrew Dierdorf who has been in charge of the fund since January of 2009.
Performance
Investors naturally seek funds with strong performance. This fund carries a 5-year annualized total return of 12.19%, and is in the top third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of 14.98%, 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. FFNOX's standard deviation over the past three years is 15.15% compared to the category average of 14.79%. The fund's standard deviation over the past 5 years is 13.34% compared to the category average of 12.88%. 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. FFNOX has a 5-year beta of 0.84, which means it is likely to be less volatile than the market average. Because alpha represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which is the S&P 500 in this case, one should pay attention to this metric as well. FFNOX's 5-year performance has produced a negative alpha of -1.77, which means 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, FFNOX is a no load fund. It has an expense ratio of 0.08% compared to the category average of 0.86%. Looking at the fund from a cost perspective, FFNOX is actually cheaper than its peers.
Investors should also note that the minimum initial investment for the product is $0 and that each subsequent investment has no minimum amount.
Bottom Line
This could just be the start of your research on FFNOXin the Mutual Fund Equity Report 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. If you are more of a stock investor, make sure to also check out our Zacks Rank, and our full suite of tools we have available for novice and professional investors alike.