There are plenty of choices in the Global - Equity category, but where should you start your research? Well, one fund that might be worth investigating is T. Rowe Price Global Stock (PRGSX Quick QuotePRGSX - Free Report) . PRGSX possesses a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance.

Objective

PRGSX 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

T. Rowe Price is responsible for PRGSX, and the company is based out of Baltimore, MD. Since T. Rowe Price Global Stock made its debut in December of 1995, PRGSX has garnered more than $3.60 billion in assets. David Eiswert is the fund's current manager and has held that role since October of 2012.

Performance

Investors naturally seek funds with strong performance. PRGSX has a 5-year annualized total return of 7.22%, 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 21.5%, 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. Compared to the category average of 11.06%, the standard deviation of PRGSX over the past three years is 12.77%. The standard deviation of the fund over the past 5 years is 16.07% compared to the category average of 13.4%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

Investors should note that the fund has a 5-year beta of 0.99, so it is likely going to be as volatile as the market at large. 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. PRGSX's 5-year performance has produced a negative alpha of -5.89, which means 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, PRGSX is a no load fund. It has an expense ratio of 0.81% compared to the category average of 0.95%. So, PRGSX is actually cheaper than its peers from a cost perspective.

Investors should also note that the minimum initial investment for the product is $2,500 and that each subsequent investment needs to be at $100.

Fees charged by investment advisors have not been taken into consideration. Returns would be less if those were included.

Bottom Line

Overall, even with its comparatively weak performance, average downside risk, and lower fees, T. Rowe Price Global Stock ( PRGSX ) has a high Zacks Mutual Fund rank, and therefore looks a great potential choice for investors right now.

For additional information on this product, or to compare it to other mutual funds in the Global - Equity, make sure to go to www.zacks.com/funds/mutual-funds for additional information. Want to learn even more? We have a full suite of tools on stocks that you can use to find the best choices for your portfolio too, no matter what kind of investor you are.