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Is Fidelity Worldwide (FWWFX) a Strong Mutual Fund Pick Right Now?
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There are plenty of choices in the Global - Equity category, but where should you start your research? Well, one fund that you should consider investigating is Fidelity Worldwide (FWWFX - Free Report) . FWWFX bears a Zacks Mutual Fund Rank of 3 (Hold), 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. The Fidelity Worldwide made its debut in May of 1990 and FWWFX has managed to accumulate roughly $3.11 billion in assets, as of the most recently available information. Stephen DuFour is the fund's current manager and has held that role since October of 2007.
Performance
Of course, investors look for strong performance in funds. FWWFX has a 5-year annualized total return of 10.86%, and is in the top third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 23.09%, 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. FWWFX's standard deviation over the past three years is 13.94% compared to the category average of 10.8%. The fund's standard deviation over the past 5 years is 16.21% compared to the category average of 12.96%. 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. FWWFX has a 5-year beta of 1.03, which means it is likely to be as volatile as the market average. 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. FWWFX has generated a negative alpha over the past five years of -3.07, demonstrating 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, FWWFX is a no load fund. It has an expense ratio of 0.77% compared to the category average of 0.94%. From a cost perspective, FWWFX is actually cheaper than its peers.
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 consideration. Returns would be less if those were included.
Bottom Line
Overall, Fidelity Worldwide ( FWWFX ) has a neutral Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, this fund looks like a somewhat average 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.
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Is Fidelity Worldwide (FWWFX) a Strong Mutual Fund Pick Right Now?
There are plenty of choices in the Global - Equity category, but where should you start your research? Well, one fund that you should consider investigating is Fidelity Worldwide (FWWFX - Free Report) . FWWFX bears a Zacks Mutual Fund Rank of 3 (Hold), 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. The Fidelity Worldwide made its debut in May of 1990 and FWWFX has managed to accumulate roughly $3.11 billion in assets, as of the most recently available information. Stephen DuFour is the fund's current manager and has held that role since October of 2007.
Performance
Of course, investors look for strong performance in funds. FWWFX has a 5-year annualized total return of 10.86%, and is in the top third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 23.09%, 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. FWWFX's standard deviation over the past three years is 13.94% compared to the category average of 10.8%. The fund's standard deviation over the past 5 years is 16.21% compared to the category average of 12.96%. 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. FWWFX has a 5-year beta of 1.03, which means it is likely to be as volatile as the market average. 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. FWWFX has generated a negative alpha over the past five years of -3.07, demonstrating 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, FWWFX is a no load fund. It has an expense ratio of 0.77% compared to the category average of 0.94%. From a cost perspective, FWWFX is actually cheaper than its peers.
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 consideration. Returns would be less if those were included.
Bottom Line
Overall, Fidelity Worldwide ( FWWFX ) has a neutral Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, this fund looks like a somewhat average 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.