If investors are looking at the Global - Equity fund category, make sure to pass over Oppenheimer Global Opportunities Y (OGIYX Quick QuoteOGIYX - Free Report) . OGIYX has a Zacks Mutual Fund Rank of 5 (Strong Sell), which is based on various forecasting factors like size, cost, and past performance.

Objective

OGIYX is classified in the Global - Equity segment by Zacks, an area full of possibilities. Even though Global - Equity mutual funds invest in bigger markets like the U.S., Europe, and Japan, these kinds of funds aren't limited by geography. Rather, they offer an investment strategy that utilizes the global economy to provide stable returns.

History of Fund/Manager

OGIYX finds itself in the Invesco family, based out of Kansas City, MO. Oppenheimer Global Opportunities Y made its debut in February of 2001, and since then, OGIYX has accumulated about $340.18 million in assets, per the most up-to-date date available. Maire Lane is the fund's current manager and has held that role since September of 2020.

Performance

Obviously, what investors are looking for in these funds is strong performance relative to their peers. This fund carries a 5-year annualized total return of -0.96%, and is in the bottom third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of -8.23%, 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. The standard deviation of OGIYX over the past three years is 26.35% compared to the category average of 15.92%. The standard deviation of the fund over the past 5 years is 26.58% compared to the category average of 17.06%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

With a 5-year beta of 1.26, the fund is likely to be more 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. OGIYX's 5-year performance has produced a negative alpha of -15.5, 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, OGIYX is a no load fund. It has an expense ratio of 0.92% compared to the category average of 1.01%. OGIYX is actually cheaper than its peers when you consider factors like cost.

Investors need to be aware that with this product, the minimum initial investment is $1,000; 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, Oppenheimer Global Opportunities Y ( OGIYX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, worse downside risk, and lower fees, this fund looks like a somewhat weak choice for investors right now.

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