On the lookout for a Global - Equity fund? Starting with Fidelity Worldwide (FWWFX Quick QuoteFWWFX - Free Report) is one possibility. FWWFX holds a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance.

Objective

Zacks categorizes FWWFX as Global - Equity, which is a segment packed with options. Global - Equity mutual funds invest in large markets like the U.S., Europe, and Japan, and operate with very few geographical limitations. They also provide an investment technique that leverages the diverse nature of the global economy in the hopes of providing a stable return.

History of Fund/Manager

FWWFX finds itself in the Fidelity family, based out of Boston, MA. Fidelity Worldwide debuted in May of 1990. Since then, FWWFX has accumulated assets of about $2.84 billion, according to the most recently available information. The fund's current manager, Stephen DuFour, has been in charge of the fund since October of 2007.

Performance

Investors naturally seek funds with strong performance. This fund carries a 5-year annualized total return of 14.38%, and is 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 10.8%, 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, FWWFX's standard deviation comes in at 17.42%, compared to the category average of 14.62%. Over the past 5 years, the standard deviation of the fund is 18.6% compared to the category average of 15.88%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

With a 5-year beta of 1.01, the fund is likely to be as volatile as 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. With a negative alpha of -2.07, managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.

Expenses

For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, FWWFX is a no load fund. It has an expense ratio of 0.70% compared to the category average of 0.95%. So, FWWFX is actually cheaper than its peers from a cost perspective.

While the minimum initial investment for the product is $0, investors should also note that 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 Worldwide ( FWWFX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, Fidelity Worldwide ( FWWFX ) looks like a good potential choice for investors right now.

Want even more information about FWWFX? Then go over to Zacks.com and check out our mutual fund comparison tool, and all of the other great features that we have to help you with your mutual fund analysis 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.