On the lookout for a Global - Equity fund? Starting with T. Rowe Price Global Stock (PRGSX Quick QuotePRGSX - Free Report) is one possibility. PRGSX has a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance.

Objective

We note that PRGSX is a Global - Equity option, an investment area loaded with different options. While Global - Equity mutual funds invest their assets in large markets-think the U.S., Europe, and Japan-they aren't limited by geography. Their investment technique is one that leverages the global economy in order to offer stable returns.

History of Fund/Manager

PRGSX finds itself in the T. Rowe Price family, based out of Baltimore, MD. T. Rowe Price Global Stock debuted in December of 1995. Since then, PRGSX has accumulated assets of about $4.00 billion, according to the most recently available information. The fund's current manager, David Eiswert, has been in charge of the fund since October of 2012.

Performance

Investors naturally seek funds with strong performance. This fund carries a 5-year annualized total return of 8.44%, and is 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 21.9%, 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 11.64%, the standard deviation of PRGSX over the past three years is 16.25%. The fund's standard deviation over the past 5 years is 17.91% compared to the category average of 13.79%. 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 1.07, so it is likely going to be more volatile than the market at large. 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 -4.07, 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, PRGSX is a no load fund. It has an expense ratio of 0.80% compared to the category average of 0.95%. Looking at the fund from a cost perspective, PRGSX is actually cheaper than its peers.

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

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

Bottom Line

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

This could just be the start of your research on PRGSX in the Global - 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. Zacks provides a full suite of tools to help you analyze your portfolio - both funds and stocks - in the most efficient way possible.