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Is Wasatch Global Opportunities Fund (WAGOX) a Strong Mutual Fund Pick Right Now?
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Having trouble finding a Non US - Equity fund? Well, Wasatch Global Opportunities Fund (WAGOX - Free Report) would not be a good potential starting point right now. WAGOX has a Zacks Mutual Fund Rank of 5 (Strong Sell), which is based on various forecasting factors like size, cost, and past performance.
Objective
We classify WAGOX 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
Wasatch is based in Salt Lake City, UT, and is the manager of WAGOX. Wasatch Global Opportunities Fund debuted in November of 2008. Since then, WAGOX has accumulated assets of about $113.48 million, according to the most recently available information. The fund is currently managed by a team of investment professionals.
Performance
Of course, investors look for strong performance in funds. WAGOX has a 5-year annualized total return of 8.64% and it sits in the middle third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 6.26%, which places it in the middle 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, WAGOX's standard deviation comes in at 22.15%, compared to the category average of 17.21%. The fund's standard deviation over the past 5 years is 21.26% compared to the category average of 17.18%. 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. WAGOX has a 5-year beta of 1.11, which means it is likely to be more 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. With a negative alpha of -6.9, 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, WAGOX is a no load fund. It has an expense ratio of 1.50% compared to the category average of 1.09%. So, WAGOX is actually more expensive than its peers from a cost perspective.
While the minimum initial investment for the product is $2,000, investors should also note that each subsequent investment needs to be at least $100.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, Wasatch Global Opportunities Fund ( WAGOX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and higher fees, Wasatch Global Opportunities Fund ( WAGOX ) looks like a poor potential choice for investors right now.
For additional information on the Non US - Equity area of the mutual fund world, make sure to check out www.zacks.com/funds/mutual-funds. There, you can see more about the ranking process, and dive even deeper into WAGOX too 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 Wasatch Global Opportunities Fund (WAGOX) a Strong Mutual Fund Pick Right Now?
Having trouble finding a Non US - Equity fund? Well, Wasatch Global Opportunities Fund (WAGOX - Free Report) would not be a good potential starting point right now. WAGOX has a Zacks Mutual Fund Rank of 5 (Strong Sell), which is based on various forecasting factors like size, cost, and past performance.
Objective
We classify WAGOX 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
Wasatch is based in Salt Lake City, UT, and is the manager of WAGOX. Wasatch Global Opportunities Fund debuted in November of 2008. Since then, WAGOX has accumulated assets of about $113.48 million, according to the most recently available information. The fund is currently managed by a team of investment professionals.
Performance
Of course, investors look for strong performance in funds. WAGOX has a 5-year annualized total return of 8.64% and it sits in the middle third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 6.26%, which places it in the middle 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, WAGOX's standard deviation comes in at 22.15%, compared to the category average of 17.21%. The fund's standard deviation over the past 5 years is 21.26% compared to the category average of 17.18%. 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. WAGOX has a 5-year beta of 1.11, which means it is likely to be more 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. With a negative alpha of -6.9, 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, WAGOX is a no load fund. It has an expense ratio of 1.50% compared to the category average of 1.09%. So, WAGOX is actually more expensive than its peers from a cost perspective.
While the minimum initial investment for the product is $2,000, investors should also note that each subsequent investment needs to be at least $100.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, Wasatch Global Opportunities Fund ( WAGOX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and higher fees, Wasatch Global Opportunities Fund ( WAGOX ) looks like a poor potential choice for investors right now.
For additional information on the Non US - Equity area of the mutual fund world, make sure to check out www.zacks.com/funds/mutual-funds. There, you can see more about the ranking process, and dive even deeper into WAGOX too 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.