Any investors who are searching for Mutual Fund Equity Report funds should take a look at Fidelity International Enhanced Index Fund . FIENX has no Zacks Mutual Fund Rank, but we have been able to look into other metrics like performance, volatility, and cost.
History of Fund/Manager
Fidelity is based in Boston, MA, and is the manager of FIENX. The Fidelity International Enhanced Index Fund made its debut in January of 2008 and FIENX has managed to accumulate roughly $1.57 billion in assets, as of the most recently available information. A team of investment professionals is the fund's current manager.
Performance
Of course, investors look for strong performance in funds. This fund carries a 5-year annualized total return of 2.74%, and is 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 13.36%, 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. Compared to the category average of 20.95%, the standard deviation of FIENX over the past three years is 18.51%. Over the past 5 years, the standard deviation of the fund is 18.02% compared to the category average of 18.25%. This makes the fund less volatile than its peers over the past half-decade.
Risk Factors
With a 5-year beta of 0.84, the fund is likely to be less volatile than 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. FIENX's 5-year performance has produced a negative alpha of -6.15, which means 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, FIENX is a no load fund. It has an expense ratio of 0.57% compared to the category average of 0.79%. FIENX 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
For additional information on the Mutual Fund Equity Report area of the mutual fund world, make sure to check out www.zacks.com/funds/mutual-funds. There, you can see more about the ranking process, and dive even deeper into FIENX too 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.
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Is Fidelity International Enhanced Index Fund (FIENX) a Strong Mutual Fund Pick Right Now?
Any investors who are searching for Mutual Fund Equity Report funds should take a look at Fidelity International Enhanced Index Fund . FIENX has no Zacks Mutual Fund Rank, but we have been able to look into other metrics like performance, volatility, and cost.
History of Fund/Manager
Fidelity is based in Boston, MA, and is the manager of FIENX. The Fidelity International Enhanced Index Fund made its debut in January of 2008 and FIENX has managed to accumulate roughly $1.57 billion in assets, as of the most recently available information. A team of investment professionals is the fund's current manager.
Performance
Of course, investors look for strong performance in funds. This fund carries a 5-year annualized total return of 2.74%, and is 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 13.36%, 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. Compared to the category average of 20.95%, the standard deviation of FIENX over the past three years is 18.51%. Over the past 5 years, the standard deviation of the fund is 18.02% compared to the category average of 18.25%. This makes the fund less volatile than its peers over the past half-decade.
Risk Factors
With a 5-year beta of 0.84, the fund is likely to be less volatile than 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. FIENX's 5-year performance has produced a negative alpha of -6.15, which means 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, FIENX is a no load fund. It has an expense ratio of 0.57% compared to the category average of 0.79%. FIENX 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
For additional information on the Mutual Fund Equity Report area of the mutual fund world, make sure to check out www.zacks.com/funds/mutual-funds. There, you can see more about the ranking process, and dive even deeper into FIENX too 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.