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Is Invesco International Small-Mid Company A (OSMAX) a Strong Mutual Fund Pick Right Now?
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If you have been looking for Non US - Equity fund category, a potential starting could be Invesco International Small-Mid Company A (OSMAX - Free Report) . OSMAX has a Zacks Mutual Fund Rank of 3 (Hold), which is based on various forecasting factors like size, cost, and past performance.
Objective
We classify OSMAX 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
OSMAX is a part of the Invesco family of funds, a company based out of Kansas City, MO. Invesco International Small-Mid Company A debuted in November of 1997. Since then, OSMAX has accumulated assets of about $681.94 million, according to the most recently available information. The fund is currently managed by David Nadel who has been in charge of the fund since November of 2019.
Performance
Obviously, what investors are looking for in these funds is strong performance relative to their peers. OSMAX has a 5-year annualized total return of 2.44% and is in the bottom 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 -9.02%, which places it in the bottom 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. OSMAX's standard deviation over the past three years is 23.15% compared to the category average of 15.47%. The standard deviation of the fund over the past 5 years is 22.14% compared to the category average of 16.43%. 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, so it is likely going to be 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. OSMAX's 5-year performance has produced a negative alpha of -11.52, 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, OSMAX is a load fund. It has an expense ratio of 1.39% compared to the category average of 1%. OSMAX is actually more expensive than its peers when you consider factors like cost.
While the minimum initial investment for the product is $1,000, investors should also note that each subsequent investment needs to be at least $50.
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 weak performance, worse downside risk, and higher fees, Invesco International Small-Mid Company A ( OSMAX ) has a neutral Zacks Mutual Fund rank, and therefore looks a somewhat average choice for investors right now.
Your research on the Non US - Equity 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.
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Is Invesco International Small-Mid Company A (OSMAX) a Strong Mutual Fund Pick Right Now?
If you have been looking for Non US - Equity fund category, a potential starting could be Invesco International Small-Mid Company A (OSMAX - Free Report) . OSMAX has a Zacks Mutual Fund Rank of 3 (Hold), which is based on various forecasting factors like size, cost, and past performance.
Objective
We classify OSMAX 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
OSMAX is a part of the Invesco family of funds, a company based out of Kansas City, MO. Invesco International Small-Mid Company A debuted in November of 1997. Since then, OSMAX has accumulated assets of about $681.94 million, according to the most recently available information. The fund is currently managed by David Nadel who has been in charge of the fund since November of 2019.
Performance
Obviously, what investors are looking for in these funds is strong performance relative to their peers. OSMAX has a 5-year annualized total return of 2.44% and is in the bottom 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 -9.02%, which places it in the bottom 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. OSMAX's standard deviation over the past three years is 23.15% compared to the category average of 15.47%. The standard deviation of the fund over the past 5 years is 22.14% compared to the category average of 16.43%. 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, so it is likely going to be 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. OSMAX's 5-year performance has produced a negative alpha of -11.52, 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, OSMAX is a load fund. It has an expense ratio of 1.39% compared to the category average of 1%. OSMAX is actually more expensive than its peers when you consider factors like cost.
While the minimum initial investment for the product is $1,000, investors should also note that each subsequent investment needs to be at least $50.
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 weak performance, worse downside risk, and higher fees, Invesco International Small-Mid Company A ( OSMAX ) has a neutral Zacks Mutual Fund rank, and therefore looks a somewhat average choice for investors right now.
Your research on the Non US - Equity 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.