If you've been stuck searching for Mutual Fund Equity Report funds, consider Fidelity Equity Dividend Income (FEQTX Quick QuoteFEQTX - Free Report) as a possibility. FEQTX has a Zacks Mutual Fund Rank of 2 (Buy), which is based on nine forecasting factors like size, cost, and past performance.

History of Fund/Manager

Fidelity is based in Boston, MA, and is the manager of FEQTX. Fidelity Equity Dividend Income debuted in August of 1990. Since then, FEQTX has accumulated assets of about $5.12 billion, according to the most recently available information. John Sheehy is the fund's current manager and has held that role since April of 2017.

Performance

Investors naturally seek funds with strong performance. FEQTX has a 5-year annualized total return of 9.4% and is 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 10.55%, 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, FEQTX's standard deviation comes in at 19.31%, compared to the category average of 17.01%. The fund's standard deviation over the past 5 years is 16.78% compared to the category average of 14.95%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

Investors should note that the fund has a 5-year beta of 0.93, so it is likely going to be less volatile than the market at large. Another factor to consider is alpha, as it reflects a portfolio's performance on a risk-adjusted basis relative to a benchmark-in this case, the S&P 500. FEQTX's 5-year performance has produced a negative alpha of -2.75, which means managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.

Holdings

Investigating the equity holdings of a mutual fund is also a valuable exercise. This can show us how the manager is applying their stated methodology, as well as if there are any inherent biases in their approach. For this particular fund, the focus is mostly on equities that are traded in the United States.

Right now, 89.44% of this mutual fund's holdings are stocks, which have an average market capitalization of $109.50 billion. The fund has the heaviest exposure to the following market sectors:

1. Finance
2. Technology
3. Industrial Cyclical

With turnover at about 47%, this fund is making fewer trades than comparable funds.

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, FEQTX is a no load fund. It has an expense ratio of 0.58% compared to the category average of 0.99%. FEQTX 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 $0 and that each subsequent investment has no minimum amount.

Bottom Line

Overall, Fidelity Equity Dividend Income ( FEQTX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and lower fees, this fund looks like a great potential 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 FEQTX to its peers as well for additional information. If you want to check out our stock reports as well, make sure to go to Zacks.com to see all of the great tools we have to offer, including our time-tested Zacks Rank.