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Is Fidelity International Small Cap (FISMX) a Strong Mutual Fund Pick Right Now?
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If you're looking for a Non US - Equity fund category, then a potential option is Fidelity International Small Cap (FISMX - Free Report) . FISMX holds a Zacks Mutual Fund Rank of 3 (Hold), which is based on various forecasting factors like size, cost, and past performance.
Objective
Zacks categorizes FISMX as Non US - Equity, a segment stacked high with options. Non US - Equity mutual funds like to invest in companies outside of the United States, an important characteristic since global mutual funds are known to keep a good portion of their portfolio stateside. These kinds of funds can often extend across all cap levels, and will typically allocate their investments between emerging and developed markets.
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 $1.70 billion in assets, as of the most recently available information. The fund's current manager, David Jenkins, has been in charge of the fund since November of 2021.
Performance
Investors naturally seek funds with strong performance. This fund carries a 5-year annualized total return of 8.45%, 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 3.2%, 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 16.15%, compared to the category average of 15.09%. Looking at the past 5 years, the fund's standard deviation is 18.55% compared to the category average of 15.97%. 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 0.89, which means it is hypothetically less volatile than the market at large. 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 -4.96, which means managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
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, FISMX is a no load fund. It has an expense ratio of 1.11% compared to the category average of 0.98%. From a cost perspective, FISMX is actually more expensive than its peers.
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, even with its comparatively strong performance, average downside risk, and higher fees, Fidelity International Small Cap ( FISMX ) has a neutral Zacks Mutual Fund rank, and therefore looks a somewhat average choice for investors right now.
This could just be the start of your research on FISMXin the Non US - Equity 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.
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Is Fidelity International Small Cap (FISMX) a Strong Mutual Fund Pick Right Now?
If you're looking for a Non US - Equity fund category, then a potential option is Fidelity International Small Cap (FISMX - Free Report) . FISMX holds a Zacks Mutual Fund Rank of 3 (Hold), which is based on various forecasting factors like size, cost, and past performance.
Objective
Zacks categorizes FISMX as Non US - Equity, a segment stacked high with options. Non US - Equity mutual funds like to invest in companies outside of the United States, an important characteristic since global mutual funds are known to keep a good portion of their portfolio stateside. These kinds of funds can often extend across all cap levels, and will typically allocate their investments between emerging and developed markets.
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 $1.70 billion in assets, as of the most recently available information. The fund's current manager, David Jenkins, has been in charge of the fund since November of 2021.
Performance
Investors naturally seek funds with strong performance. This fund carries a 5-year annualized total return of 8.45%, 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 3.2%, 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 16.15%, compared to the category average of 15.09%. Looking at the past 5 years, the fund's standard deviation is 18.55% compared to the category average of 15.97%. 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 0.89, which means it is hypothetically less volatile than the market at large. 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 -4.96, which means managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
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, FISMX is a no load fund. It has an expense ratio of 1.11% compared to the category average of 0.98%. From a cost perspective, FISMX is actually more expensive than its peers.
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, even with its comparatively strong performance, average downside risk, and higher fees, Fidelity International Small Cap ( FISMX ) has a neutral Zacks Mutual Fund rank, and therefore looks a somewhat average choice for investors right now.
This could just be the start of your research on FISMXin the Non US - Equity 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.