If investors are looking at the Mutual Fund Equity Report fund category, Fidelity Select Industrials Portfolio (FCYIX Quick QuoteFCYIX - Free Report) could be a potential option. FCYIX holds a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on various forecasting factors like size, cost, and past performance.

History of Fund/Manager

FCYIX finds itself in the Fidelity family, based out of Boston, MA. Fidelity Select Industrials Portfolio made its debut in March of 1997, and since then, FCYIX has accumulated about $456.38 million in assets, per the most up-to-date date available. The fund is currently managed by Janet Glazer who has been in charge of the fund since December of 2018.

Performance

Investors naturally seek funds with strong performance. This fund in particular has delivered a 5-year annualized total return of 4.97%, and it sits in the bottom 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 6.98%, 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. The standard deviation of FCYIX over the past three years is 25.39% compared to the category average of 26.82%. Looking at the past 5 years, the fund's standard deviation is 22.66% compared to the category average of 23.97%. This makes the fund less volatile than its peers over the past half-decade.

Risk Factors

With a 5-year beta of 1.12, the fund is likely to be more volatile than the market average. 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. The fund has produced a negative alpha over the past 5 years of -4.5, which shows that 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 largely on equities that are traded in the United States.

Currently, this mutual fund is holding 89.47% stock in stocks, which have an average market capitalization of $38.69 billion. The fund has the heaviest exposure to the following market sectors:

• Industrial Cyclical
• Technology
• Services

Turnover is about 151%, so those in charge of the fund make more trades in a given year than the average of comparable funds.

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, FCYIX is a no load fund. It has an expense ratio of 0.76% compared to the category average of 1.23%. FCYIX 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 Select Industrials Portfolio ( FCYIX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, average downside risk, and lower fees, Fidelity Select Industrials Portfolio ( FCYIX ) 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. 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.