If you've been stuck searching for Mid Cap Value funds, consider Fidelity Mid Cap Value Fund (FSMVX Quick QuoteFSMVX - Free Report) as a possibility. FSMVX possesses a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance.

Objective

The world of Mid Cap Value funds is an area filled with options, like FSMVX. Targeting medium-sized companies with a market cap between $2 billion and $10 billion, Mid Cap Value mutual funds more often than not choose stocks that hold solid value and income investment opportunities.

History of Fund/Manager

Fidelity is based in Boston, MA, and is the manager of FSMVX. The Fidelity Mid Cap Value Fund made its debut in November of 2001 and FSMVX has managed to accumulate roughly $13.14 million in assets, as of the most recently available information. The fund is currently managed by Neil Nabar who has been in charge of the fund since July of 2021.

Performance

Of course, investors look for strong performance in funds. This fund has delivered a 5-year annualized total return of 13.94%, 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 9.37%, 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. FSMVX's standard deviation over the past three years is 21.76% compared to the category average of 1%. Over the past 5 years, the standard deviation of the fund is 22.94% compared to the category average of 34%. This makes the fund less volatile than its peers over the past half-decade.

Risk Factors

With a 5-year beta of 1.13, the fund is likely to be more 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. The fund has produced a negative alpha over the past 5 years of -2.43, which shows that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.

Holdings

Investigating 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 primarily on equities that are traded in the United States.

As of the last filing date, the mutual fund has 80.97% of its assets in stocks, with an average market capitalization of $19.77 billion. The fund has the heaviest exposure to the following market sectors:

• Finance
• Industrial Cyclical

Turnover is about 78%, so those in charge of the fund make more trades per year than the comparable average.

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, FSMVX is a no load fund. It has an expense ratio of 0.90% compared to the category average of 76%. So, FSMVX 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 Mid Cap Value Fund ( FSMVX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, better downside risk, and lower fees, Fidelity Mid Cap Value Fund ( FSMVX ) looks like a good potential choice for investors right now.

Your research on the Mid Cap Value segment doesn't have to stop here. You can check out all the great mutual fund tools we have to offer by going to www.zacks.com/funds/mutual-funds to see the additional features we offer as well for additional information. If you want to check out our stock reports as well, make sure to go to Zacks.com to see all of the great tools we have to offer, including our time-tested Zacks Rank.