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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've been stuck searching for Non US - Equity funds, you might want to consider passing on by Invesco International Small-Mid Company A (OSMAX - Free Report) as a possibility. OSMAX holds a Zacks Mutual Fund Rank of 5 (Strong Sell), which is based on various forecasting factors like size, cost, and past performance.
Objective
OSMAX 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
OSMAX is a part of the Invesco family of funds, a company based out of Kansas City, MO. The Invesco International Small-Mid Company A made its debut in November of 1997 and OSMAX has managed to accumulate roughly $587.52 million in assets, as of the most recently available information. David Nadel is the fund's current manager and has held that role since November of 2019.
Performance
Investors naturally seek funds with strong performance. OSMAX has a 5-year annualized total return of 2.13%, 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 9.67%, 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. Compared to the category average of 12.73%, the standard deviation of OSMAX over the past three years is 17.29%. The fund's standard deviation over the past 5 years is 20.11% compared to the category average of 14.26%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
With a 5-year beta of 1.08, the fund 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. The fund has produced a negative alpha over the past 5 years of -13.59, which shows that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
Expenses
Costs are increasingly important for mutual fund investing, and particularly as competition heats up in this market. And all things being equal, a lower cost product will outperform its otherwise identical counterpart, so taking a closer look at these metrics is key for investors. In terms of fees, OSMAX is a load fund. It has an expense ratio of 1.43% compared to the category average of 1.00%. Looking at the fund from a cost perspective, OSMAX is actually more expensive than its peers.
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 consideration. Returns would be less if those were included.
Bottom Line
Overall, Invesco International Small-Mid Company A ( OSMAX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, worse downside risk, and higher fees, this fund looks like a somewhat weak choice for investors right now.
Want even more information about OSMAX? 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.
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Is Invesco International Small-Mid Company A (OSMAX) a Strong Mutual Fund Pick Right Now?
If you've been stuck searching for Non US - Equity funds, you might want to consider passing on by Invesco International Small-Mid Company A (OSMAX - Free Report) as a possibility. OSMAX holds a Zacks Mutual Fund Rank of 5 (Strong Sell), which is based on various forecasting factors like size, cost, and past performance.
Objective
OSMAX 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
OSMAX is a part of the Invesco family of funds, a company based out of Kansas City, MO. The Invesco International Small-Mid Company A made its debut in November of 1997 and OSMAX has managed to accumulate roughly $587.52 million in assets, as of the most recently available information. David Nadel is the fund's current manager and has held that role since November of 2019.
Performance
Investors naturally seek funds with strong performance. OSMAX has a 5-year annualized total return of 2.13%, 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 9.67%, 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. Compared to the category average of 12.73%, the standard deviation of OSMAX over the past three years is 17.29%. The fund's standard deviation over the past 5 years is 20.11% compared to the category average of 14.26%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
With a 5-year beta of 1.08, the fund 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. The fund has produced a negative alpha over the past 5 years of -13.59, which shows that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
Expenses
Costs are increasingly important for mutual fund investing, and particularly as competition heats up in this market. And all things being equal, a lower cost product will outperform its otherwise identical counterpart, so taking a closer look at these metrics is key for investors. In terms of fees, OSMAX is a load fund. It has an expense ratio of 1.43% compared to the category average of 1.00%. Looking at the fund from a cost perspective, OSMAX is actually more expensive than its peers.
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 consideration. Returns would be less if those were included.
Bottom Line
Overall, Invesco International Small-Mid Company A ( OSMAX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, worse downside risk, and higher fees, this fund looks like a somewhat weak choice for investors right now.
Want even more information about OSMAX? 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.