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Is Invesco Developing Markets Y (ODVYX) a Strong Mutual Fund Pick Right Now?
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On the lookout for a Mutual Fund Equity Report fund? Starting with Invesco Developing Markets Y (ODVYX - Free Report) should not be a possibility at this time. ODVYX bears a Zacks Mutual Fund Rank of 4 (Sell), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
ODVYX is a part of the Invesco family of funds, a company based out of Kansas City, MO. Invesco Developing Markets Y debuted in September of 2005. Since then, ODVYX has accumulated assets of about $12.26 billion, according to the most recently available information. The fund's current manager, Justin Leverenz, has been in charge of the fund since May of 2007.
Performance
Investors naturally seek funds with strong performance. This fund carries a 5-year annualized total return of -0.66%, and is in the bottom third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 5.66%, which places it in the bottom 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. ODVYX's standard deviation over the past three years is 20.8% compared to the category average of 16.01%. The fund's standard deviation over the past 5 years is 19.79% compared to the category average of 15.92%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
With a 5-year beta of 0.79, 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. ODVYX has generated a negative alpha over the past five years of -8.46, demonstrating that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
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, ODVYX is a no load fund. It has an expense ratio of 0.99% compared to the category average of 1.13%. Looking at the fund from a cost perspective, ODVYX is actually cheaper than its peers.
While the minimum initial investment for the product is $1,000, investors should also note that each subsequent investment needs to be at least $50.
Bottom Line
Overall, Invesco Developing Markets Y ( ODVYX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, average downside risk, and lower fees, this fund looks like a somewhat weak choice for investors right now.
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 ODVYX too for additional information. Zacks provides a full suite of tools to help you analyze your portfolio - both funds and stocks - in the most efficient way possible.
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Is Invesco Developing Markets Y (ODVYX) a Strong Mutual Fund Pick Right Now?
On the lookout for a Mutual Fund Equity Report fund? Starting with Invesco Developing Markets Y (ODVYX - Free Report) should not be a possibility at this time. ODVYX bears a Zacks Mutual Fund Rank of 4 (Sell), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
ODVYX is a part of the Invesco family of funds, a company based out of Kansas City, MO. Invesco Developing Markets Y debuted in September of 2005. Since then, ODVYX has accumulated assets of about $12.26 billion, according to the most recently available information. The fund's current manager, Justin Leverenz, has been in charge of the fund since May of 2007.
Performance
Investors naturally seek funds with strong performance. This fund carries a 5-year annualized total return of -0.66%, and is in the bottom third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 5.66%, which places it in the bottom 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. ODVYX's standard deviation over the past three years is 20.8% compared to the category average of 16.01%. The fund's standard deviation over the past 5 years is 19.79% compared to the category average of 15.92%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
With a 5-year beta of 0.79, 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. ODVYX has generated a negative alpha over the past five years of -8.46, demonstrating that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
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, ODVYX is a no load fund. It has an expense ratio of 0.99% compared to the category average of 1.13%. Looking at the fund from a cost perspective, ODVYX is actually cheaper than its peers.
While the minimum initial investment for the product is $1,000, investors should also note that each subsequent investment needs to be at least $50.
Bottom Line
Overall, Invesco Developing Markets Y ( ODVYX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, average downside risk, and lower fees, this fund looks like a somewhat weak choice for investors right now.
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 ODVYX too for additional information. Zacks provides a full suite of tools to help you analyze your portfolio - both funds and stocks - in the most efficient way possible.