If you have been looking for Small Cap Value funds, a place to start could be Bridgeway Small Cap Value N (BRSVX Quick QuoteBRSVX - Free Report) . BRSVX holds a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on various forecasting factors like size, cost, and past performance.

Objective

Zacks categorizes BRSVX as Small Cap Value, which is a segment packed with options. Known for investing in companies with market caps under $2 billion, Small Cap Value mutual funds represent good value because of many things; stocks in these funds offer low P/E ratios, high dividend yields, and better-than-average P/S ratios.

History of Fund/Manager

Bridgeway is based in Houston, TX, and is the manager of BRSVX. The Bridgeway Small Cap Value N made its debut in January of 2004 and BRSVX has managed to accumulate roughly $524.74 million in assets, as of the most recently available information. The fund is currently managed by a team of investment professionals.

Performance

Investors naturally seek funds with strong performance. BRSVX has a 5-year annualized total return of 19.22% and it sits 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 6.47%, which places it in the middle 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. The standard deviation of BRSVX over the past three years is 23.43% compared to the category average of 21.2%. Looking at the past 5 years, the fund's standard deviation is 26.75% compared to the category average of 24.54%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

Investors should note that the fund has a 5-year beta of 1.08, which means it is hypothetically more volatile than the market at large. 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 positive alpha over the past 5 years of 3.71, which shows that managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.

Holdings

Examining 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 largely on equities that are traded in the United States.

This fund is currently holding about 83.94% in stocks, with an average market capitalization of $2.42 billion. The fund has the heaviest exposure to the following market sectors:

• Finance
• Retail Trade
• Other

Turnover is 61%, which means, on average, the fund makes fewer trades than the average comparable fund.

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, BRSVX is a no load fund. It has an expense ratio of 0.88% compared to the category average of 1.16%. BRSVX is actually cheaper than its peers when you consider factors like cost.

While the minimum initial investment for the product is $2,000, investors should also note that each subsequent investment needs to be at least $100.

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

Bottom Line

Overall, Bridgeway Small Cap Value N ( BRSVX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, Bridgeway Small Cap Value N ( BRSVX ) looks like a good potential choice for investors right now.

This could just be the start of your research on BRSVXin the Small Cap Value category. Consider going to www.zacks.com/funds/mutual-funds for additional information about this fund, and all the others that we rank as well for additional information. For analysis of the rest of your portfolio, make sure to visit Zacks.com for our full suite of tools which will help you investigate all of your stocks and funds in one place.