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Is Fidelity Advisor Mid Cap Value I (FMPOX) a Strong Mutual Fund Pick Right Now?
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If investors are looking at the Mutual Fund Equity Report fund category, Fidelity Advisor Mid Cap Value I (FMPOX - Free Report) could be a potential option. FMPOX has a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on nine forecasting factors like size, cost, and past performance.
History of Fund/Manager
FMPOX is a part of the Fidelity family of funds, a company based out of Boston, MA. Fidelity Advisor Mid Cap Value I debuted in February of 2007. Since then, FMPOX has accumulated assets of about $122.84 million, according to the most recently available information. The fund's current manager, Neil Nabar, has been in charge of the fund since July of 2021.
Performance
Obviously, what investors are looking for in these funds is strong performance relative to their peers. FMPOX has a 5-year annualized total return of 3.96% and it sits in the bottom 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 6.57%, 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, FMPOX's standard deviation comes in at 25.32%, compared to the category average of 18.31%. Over the past 5 years, the standard deviation of the fund is 22.44% compared to the category average of 16.02%. 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 1.1, so it is likely going to be more 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. With a negative alpha of -5.15, managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
Holdings
Exploring 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.
As of the last filing date, the mutual fund has 80.31% of its assets in stocks, which have an average market capitalization of $21.03 billion. The fund has the heaviest exposure to the following market sectors:
Finance
Technology
Industrial Cyclical
Turnover is 80%, which means this fund makes fewer trades than its comparable peers.
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, FMPOX is a no load fund. It has an expense ratio of 0.77% compared to the category average of 1.09%. Looking at the fund from a cost perspective, FMPOX is actually cheaper than its peers.
This fund requires a minimum initial investment of $0, while there is no minimum for each subsequent investment.
Bottom Line
Overall, Fidelity Advisor Mid Cap Value I ( FMPOX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, worse downside risk, and lower fees, Fidelity Advisor Mid Cap Value I ( FMPOX ) looks like a great potential choice for investors right now.
For additional information on this product, or to compare it to other mutual funds in the Mutual Fund Equity Report, make sure to go to www.zacks.com/funds/mutual-funds for additional information. Want to learn even more? We have a full suite of tools on stocks that you can use to find the best choices for your portfolio too, no matter what kind of investor you are.
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Is Fidelity Advisor Mid Cap Value I (FMPOX) a Strong Mutual Fund Pick Right Now?
If investors are looking at the Mutual Fund Equity Report fund category, Fidelity Advisor Mid Cap Value I (FMPOX - Free Report) could be a potential option. FMPOX has a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on nine forecasting factors like size, cost, and past performance.
History of Fund/Manager
FMPOX is a part of the Fidelity family of funds, a company based out of Boston, MA. Fidelity Advisor Mid Cap Value I debuted in February of 2007. Since then, FMPOX has accumulated assets of about $122.84 million, according to the most recently available information. The fund's current manager, Neil Nabar, has been in charge of the fund since July of 2021.
Performance
Obviously, what investors are looking for in these funds is strong performance relative to their peers. FMPOX has a 5-year annualized total return of 3.96% and it sits in the bottom 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 6.57%, 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, FMPOX's standard deviation comes in at 25.32%, compared to the category average of 18.31%. Over the past 5 years, the standard deviation of the fund is 22.44% compared to the category average of 16.02%. 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 1.1, so it is likely going to be more 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. With a negative alpha of -5.15, managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
Holdings
Exploring 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.
As of the last filing date, the mutual fund has 80.31% of its assets in stocks, which have an average market capitalization of $21.03 billion. The fund has the heaviest exposure to the following market sectors:
- Finance
- Technology
- Industrial Cyclical
Turnover is 80%, which means this fund makes fewer trades than its comparable peers.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, FMPOX is a no load fund. It has an expense ratio of 0.77% compared to the category average of 1.09%. Looking at the fund from a cost perspective, FMPOX is actually cheaper than its peers.
This fund requires a minimum initial investment of $0, while there is no minimum for each subsequent investment.
Bottom Line
Overall, Fidelity Advisor Mid Cap Value I ( FMPOX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, worse downside risk, and lower fees, Fidelity Advisor Mid Cap Value I ( FMPOX ) looks like a great potential choice for investors right now.
For additional information on this product, or to compare it to other mutual funds in the Mutual Fund Equity Report, make sure to go to www.zacks.com/funds/mutual-funds for additional information. Want to learn even more? We have a full suite of tools on stocks that you can use to find the best choices for your portfolio too, no matter what kind of investor you are.