Are you on the hunt for a Mutual Fund Equity Report fund? You should think about starting with Fidelity International Enhanced Index Fund . FIENX has no Zacks Mutual Fund Rank, but we have been able to look into other metrics like performance, volatility, and cost.
History of Fund/Manager
FIENX is a part of the Fidelity family of funds, a company based out of Boston, MA. The Fidelity International Enhanced Index Fund made its debut in January of 2008 and FIENX has managed to accumulate roughly $1.46 billion in assets, as of the most recently available information. The fund is currently managed by a team of investment professionals.
Performance
Of course, investors look for strong performance in funds. This fund has delivered a 5-year annualized total return of 5.88%, 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 6.68%, 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. Compared to the category average of 19.67%, the standard deviation of FIENX over the past three years is 17.23%. Over the past 5 years, the standard deviation of the fund is 15.17% compared to the category average of 16.96%. This makes the fund less volatile than its peers over the past half-decade.
Risk Factors
With a 5-year beta of 0.83, the fund 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. With a negative alpha of -6.51, 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, FIENX is a no load fund. It has an expense ratio of 0.59% compared to the category average of 0.78%. From a cost perspective, FIENX is actually cheaper than its peers.
Investors need to be aware that with this product, the minimum initial investment is $0; each subsequent investment has no minimum amount.
Bottom Line
Want even more information about FIENX? 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. 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 International Enhanced Index Fund (FIENX) a Strong Mutual Fund Pick Right Now?
Are you on the hunt for a Mutual Fund Equity Report fund? You should think about starting with Fidelity International Enhanced Index Fund . FIENX has no Zacks Mutual Fund Rank, but we have been able to look into other metrics like performance, volatility, and cost.
History of Fund/Manager
FIENX is a part of the Fidelity family of funds, a company based out of Boston, MA. The Fidelity International Enhanced Index Fund made its debut in January of 2008 and FIENX has managed to accumulate roughly $1.46 billion in assets, as of the most recently available information. The fund is currently managed by a team of investment professionals.
Performance
Of course, investors look for strong performance in funds. This fund has delivered a 5-year annualized total return of 5.88%, 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 6.68%, 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. Compared to the category average of 19.67%, the standard deviation of FIENX over the past three years is 17.23%. Over the past 5 years, the standard deviation of the fund is 15.17% compared to the category average of 16.96%. This makes the fund less volatile than its peers over the past half-decade.
Risk Factors
With a 5-year beta of 0.83, the fund 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. With a negative alpha of -6.51, 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, FIENX is a no load fund. It has an expense ratio of 0.59% compared to the category average of 0.78%. From a cost perspective, FIENX is actually cheaper than its peers.
Investors need to be aware that with this product, the minimum initial investment is $0; each subsequent investment has no minimum amount.
Bottom Line
Want even more information about FIENX? 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. 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.