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Is Fidelity Contrafund K (FCNKX) a Strong Mutual Fund Pick Right Now?
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Having trouble finding a Mutual Fund Equity Report fund? Fidelity Contrafund K (FCNKX - Free Report) is a possible starting point. FCNKX holds a Zacks Mutual Fund Rank of 3 (Hold), which is based on nine forecasting factors like size, cost, and past performance.
History of Fund/Manager
FCNKX is a part of the Fidelity family of funds, a company based out of Boston, MA. Fidelity Contrafund K made its debut in May of 2008, and since then, FCNKX has accumulated about $8.70 billion in assets, per the most up-to-date date available. The fund is currently managed by William Danoff who has been in charge of the fund since May of 2008.
Performance
Of course, investors look for strong performance in funds. FCNKX has a 5-year annualized total return of 9.21% and it sits in the middle 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 7.98%, 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. FCNKX's standard deviation over the past three years is 21.5% compared to the category average of 19.04%. The standard deviation of the fund over the past 5 years is 19.46% compared to the category average of 17%. 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. FCNKX has a 5-year beta of 1.03, which means it is likely to be as volatile as 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. With a negative alpha of -0.02, 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.
This fund is currently holding about 97.9% stock in stocks, which have an average market capitalization of $440.29 billion. The fund has the heaviest exposure to the following market sectors:
Technology
Finance
Retail Trade
Turnover is about 28%, so those in charge of the fund make fewer trades than the average comparable fund.
Expenses
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, FCNKX is a no load fund. It has an expense ratio of 0.51% compared to the category average of 0.99%. FCNKX is actually cheaper than its peers when you consider factors like cost.
This fund requires a minimum initial investment of $0, while there is no minimum for each subsequent investment.
Bottom Line
Overall, Fidelity Contrafund K ( FCNKX ) has a neutral Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and lower fees, Fidelity Contrafund K ( FCNKX ) looks like a somewhat average choice for investors right now.
Want even more information about FCNKX? 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. 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 Contrafund K (FCNKX) a Strong Mutual Fund Pick Right Now?
Having trouble finding a Mutual Fund Equity Report fund? Fidelity Contrafund K (FCNKX - Free Report) is a possible starting point. FCNKX holds a Zacks Mutual Fund Rank of 3 (Hold), which is based on nine forecasting factors like size, cost, and past performance.
History of Fund/Manager
FCNKX is a part of the Fidelity family of funds, a company based out of Boston, MA. Fidelity Contrafund K made its debut in May of 2008, and since then, FCNKX has accumulated about $8.70 billion in assets, per the most up-to-date date available. The fund is currently managed by William Danoff who has been in charge of the fund since May of 2008.
Performance
Of course, investors look for strong performance in funds. FCNKX has a 5-year annualized total return of 9.21% and it sits in the middle 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 7.98%, 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. FCNKX's standard deviation over the past three years is 21.5% compared to the category average of 19.04%. The standard deviation of the fund over the past 5 years is 19.46% compared to the category average of 17%. 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. FCNKX has a 5-year beta of 1.03, which means it is likely to be as volatile as 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. With a negative alpha of -0.02, 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.
This fund is currently holding about 97.9% stock in stocks, which have an average market capitalization of $440.29 billion. The fund has the heaviest exposure to the following market sectors:
- Technology
- Finance
- Retail Trade
Turnover is about 28%, so those in charge of the fund make fewer trades than the average comparable fund.Expenses
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, FCNKX is a no load fund. It has an expense ratio of 0.51% compared to the category average of 0.99%. FCNKX is actually cheaper than its peers when you consider factors like cost.
This fund requires a minimum initial investment of $0, while there is no minimum for each subsequent investment.
Bottom Line
Overall, Fidelity Contrafund K ( FCNKX ) has a neutral Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and lower fees, Fidelity Contrafund K ( FCNKX ) looks like a somewhat average choice for investors right now.
Want even more information about FCNKX? 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. 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.