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Is Invesco Developing Markets Y (ODVYX) a Strong Mutual Fund Pick Right Now?
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Having trouble finding a Non US - Equity fund? Well, Invesco Developing Markets Y (ODVYX - Free Report) would not be a good potential starting point right now. ODVYX holds a Zacks Mutual Fund Rank of 5 (Strong Sell), which is based on various forecasting factors like size, cost, and past performance.
Objective
ODVYX is classified in the Non US - Equity area by Zacks, and this segment is full of potential. Non US - Equity funds focus their investments on companies outside of the United States, which is an important distinction since global mutual funds tend to keep a sizable portion of their portfolio based in the United States. Most of these funds will allocate across emerging and developed markets, and can often extend across cap levels too.
History of Fund/Manager
ODVYX is a part of the Invesco family of funds, a company based out of Kansas City, MO. Since Invesco Developing Markets Y made its debut in September of 2005, ODVYX has garnered more than $7.77 billion in assets. The fund is currently managed by Justin Leverenz who has been in charge of the fund since May of 2007.
Performance
Investors naturally seek funds with strong performance. This fund carries a 5-year annualized total return of 3.64%, and it sits 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 0.15%, 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. ODVYX's standard deviation over the past three years is 18.05% compared to the category average of 14.66%. The fund's standard deviation over the past 5 years is 17.65% compared to the category average of 15.78%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
Investors should not forget about beta, an important way to measure a mutual fund's risk compared to the market as a whole. ODVYX has a 5-year beta of 0.68, which means it is likely to be less volatile than the market average. Because alpha represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which is the S&P 500 in this case, one should pay attention to this metric as well. The fund has produced a negative alpha over the past 5 years of -8.03, which shows that 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, ODVYX is a no load fund. It has an expense ratio of 1.03% compared to the category average of 0.97%. So, ODVYX is actually more expensive than its peers from a cost perspective.
Investors should also note that the minimum initial investment for the product is $1,000 and that each subsequent investment needs to be at $50
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, Invesco Developing Markets Y ( ODVYX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, average downside risk, and higher fees, this fund looks like a somewhat weak choice for investors right now.
This could just be the start of your research on ODVYXin 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. 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 Developing Markets Y (ODVYX) a Strong Mutual Fund Pick Right Now?
Having trouble finding a Non US - Equity fund? Well, Invesco Developing Markets Y (ODVYX - Free Report) would not be a good potential starting point right now. ODVYX holds a Zacks Mutual Fund Rank of 5 (Strong Sell), which is based on various forecasting factors like size, cost, and past performance.
Objective
ODVYX is classified in the Non US - Equity area by Zacks, and this segment is full of potential. Non US - Equity funds focus their investments on companies outside of the United States, which is an important distinction since global mutual funds tend to keep a sizable portion of their portfolio based in the United States. Most of these funds will allocate across emerging and developed markets, and can often extend across cap levels too.
History of Fund/Manager
ODVYX is a part of the Invesco family of funds, a company based out of Kansas City, MO. Since Invesco Developing Markets Y made its debut in September of 2005, ODVYX has garnered more than $7.77 billion in assets. The fund is currently managed by Justin Leverenz who has been in charge of the fund since May of 2007.
Performance
Investors naturally seek funds with strong performance. This fund carries a 5-year annualized total return of 3.64%, and it sits 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 0.15%, 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. ODVYX's standard deviation over the past three years is 18.05% compared to the category average of 14.66%. The fund's standard deviation over the past 5 years is 17.65% compared to the category average of 15.78%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
Investors should not forget about beta, an important way to measure a mutual fund's risk compared to the market as a whole. ODVYX has a 5-year beta of 0.68, which means it is likely to be less volatile than the market average. Because alpha represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which is the S&P 500 in this case, one should pay attention to this metric as well. The fund has produced a negative alpha over the past 5 years of -8.03, which shows that 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, ODVYX is a no load fund. It has an expense ratio of 1.03% compared to the category average of 0.97%. So, ODVYX is actually more expensive than its peers from a cost perspective.
Investors should also note that the minimum initial investment for the product is $1,000 and that each subsequent investment needs to be at $50
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, Invesco Developing Markets Y ( ODVYX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, average downside risk, and higher fees, this fund looks like a somewhat weak choice for investors right now.
This could just be the start of your research on ODVYXin 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. 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.