Any investors hoping to find a Mutual Fund Equity Report fund might consider looking past American Century International Opportunity Institutional (ACIOX Quick QuoteACIOX - Free Report) . ACIOX carries a Zacks Mutual Fund Rank of 4 (Sell), which is based on nine forecasting factors like size, cost, and past performance.

History of Fund/Manager

American Century is based in Kansas City, MO, and is the manager of ACIOX. American Century International Opportunity Institutional made its debut in January of 2003, and since then, ACIOX has accumulated about $124.46 million in assets, per the most up-to-date date available. A team of investment professionals is the fund's current manager.

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 8.92%, and it sits in the middle third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 10.39%, 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. ACIOX's standard deviation over the past three years is 20.85% compared to the category average of 15.81%. Over the past 5 years, the standard deviation of the fund is 18.9% compared to the category average of 14%. 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. ACIOX has a 5-year beta of 1.04, which means it is likely to be more 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. The fund has produced a negative alpha over the past 5 years of -6.17, which shows that 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, ACIOX is a no load fund. It has an expense ratio of 1.17% compared to the category average of 1.15%. So, ACIOX is actually more expensive than its peers from a cost perspective.

Investors should also note that the minimum initial investment for the product is $5 million and that each subsequent investment needs to be at $50.

Bottom Line

Overall, American Century International Opportunity Institutional ( ACIOX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and higher fees, this fund looks like a somewhat weak choice for investors right now.

Don't stop here for your research on Mutual Fund Equity Report 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 ACIOX to its peers as well 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.