On the lookout for a Mutual Fund Equity Report fund? Starting with Fidelity Advisor Semiconductors A (FELAX Quick QuoteFELAX - Free Report) is one possibility. FELAX bears a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance.

History of Fund/Manager

Fidelity is based in Boston, MA, and is the manager of FELAX. Fidelity Advisor Semiconductors A made its debut in December of 2000, and since then, FELAX has accumulated about $543.58 million in assets, per the most up-to-date date available. The fund is currently managed by Adam Benjamin who has been in charge of the fund since March of 2020.

Performance

Of course, investors look for strong performance in funds. This fund carries a 5-year annualized total return of 25.16%, and it sits in the top 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 24.68%, which places it in the top third during this time-frame.

It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.

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 16.57%, the standard deviation of FELAX over the past three years is 36.33%. The fund's standard deviation over the past 5 years is 33.63% compared to the category average of 17.34%. 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. FELAX has a 5-year beta of 1.44, which means it is likely to be more volatile than the market average. Because alpha represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which is the S&P 500 in this case, one should pay attention to this metric as well. FELAX has generated a positive alpha over the past five years of 13.62, demonstrating that managers in this portfolio are skilled in picking 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, FELAX is a load fund. It has an expense ratio of 1% compared to the category average of 1.28%. So, FELAX is actually cheaper than its peers from a cost perspective.

This fund requires a minimum initial investment of $0, while there is no minimum for each subsequent investment.

Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.

Bottom Line

Overall, Fidelity Advisor Semiconductors A ( FELAX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, worse downside risk, and lower fees, Fidelity Advisor Semiconductors A ( FELAX ) looks like a good potential 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 FELAX too 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.