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Is Fidelity International Small Cap (FISMX) a Strong Mutual Fund Pick Right Now?
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On the lookout for a Non US - Equity fund? Starting with Fidelity International Small Cap (FISMX - Free Report) is one possibility. FISMX has a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance.
Objective
We classify FISMX in the Non US - Equity category, which is an area rife with potential choices. Investing in companies outside the United States is how Non US - Equity funds set themselves apart, since global funds tend to keep a good portion of their portfolio stateside. Many of these funds like to allocate across emerging and developed markets, and will often focus on all cap levels.
History of Fund/Manager
Fidelity is based in Boston, MA, and is the manager of FISMX. The Fidelity International Small Cap made its debut in September of 2002 and FISMX has managed to accumulate roughly $1.58 billion in assets, as of the most recently available information. The fund is currently managed by David Jenkins who has been in charge of the fund since November of 2021.
Performance
Investors naturally seek funds with strong performance. This fund in particular has delivered a 5-year annualized total return of 7.46%, and is in the top 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 2.8%, 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. Over the past three years, FISMX's standard deviation comes in at 16.12%, compared to the category average of 14.91%. The standard deviation of the fund over the past 5 years is 18.73% compared to the category average of 16.06%. 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. FISMX has a 5-year beta of 0.89, which means it is likely to be less 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. FISMX's 5-year performance has produced a negative alpha of -5.13, which means 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, FISMX is a no load fund. It has an expense ratio of 1.16% compared to the category average of 0.99%. Looking at the fund from a cost perspective, FISMX is actually more expensive than its peers.
Investors need to be aware that with this product, the minimum initial investment is $0; each subsequent investment has no minimum amount.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, even with its comparatively strong performance, average downside risk, and higher fees, Fidelity International Small Cap ( FISMX ) has a high Zacks Mutual Fund rank, and therefore looks a good potential choice for investors right now.
Want even more information about FISMX? Then go over to Zacks.com and check out our mutual fund comparison tool, and all of the other great features that we have to help you with your mutual fund analysis 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 Small Cap (FISMX) a Strong Mutual Fund Pick Right Now?
On the lookout for a Non US - Equity fund? Starting with Fidelity International Small Cap (FISMX - Free Report) is one possibility. FISMX has a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance.
Objective
We classify FISMX in the Non US - Equity category, which is an area rife with potential choices. Investing in companies outside the United States is how Non US - Equity funds set themselves apart, since global funds tend to keep a good portion of their portfolio stateside. Many of these funds like to allocate across emerging and developed markets, and will often focus on all cap levels.
History of Fund/Manager
Fidelity is based in Boston, MA, and is the manager of FISMX. The Fidelity International Small Cap made its debut in September of 2002 and FISMX has managed to accumulate roughly $1.58 billion in assets, as of the most recently available information. The fund is currently managed by David Jenkins who has been in charge of the fund since November of 2021.
Performance
Investors naturally seek funds with strong performance. This fund in particular has delivered a 5-year annualized total return of 7.46%, and is in the top 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 2.8%, 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. Over the past three years, FISMX's standard deviation comes in at 16.12%, compared to the category average of 14.91%. The standard deviation of the fund over the past 5 years is 18.73% compared to the category average of 16.06%. 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. FISMX has a 5-year beta of 0.89, which means it is likely to be less 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. FISMX's 5-year performance has produced a negative alpha of -5.13, which means 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, FISMX is a no load fund. It has an expense ratio of 1.16% compared to the category average of 0.99%. Looking at the fund from a cost perspective, FISMX is actually more expensive than its peers.
Investors need to be aware that with this product, the minimum initial investment is $0; each subsequent investment has no minimum amount.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, even with its comparatively strong performance, average downside risk, and higher fees, Fidelity International Small Cap ( FISMX ) has a high Zacks Mutual Fund rank, and therefore looks a good potential choice for investors right now.
Want even more information about FISMX? Then go over to Zacks.com and check out our mutual fund comparison tool, and all of the other great features that we have to help you with your mutual fund analysis 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.