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Is Fidelity Worldwide (FWWFX) a Strong Mutual Fund Pick Right Now?
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Having trouble finding a Global - Equity fund? Fidelity Worldwide (FWWFX - Free Report) is a possible starting point. 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. Fidelity Worldwide made its debut in May of 1990, and since then, FWWFX has accumulated about $3.42 billion in assets, per the most up-to-date date available. The fund is currently managed by Stephen DuFour who has been in charge of the fund since October of 2007.
Performance
Of course, investors look for strong performance in funds. This fund in particular has delivered a 5-year annualized total return of 10.04%, and it sits in the top third among its category peers. If you're interested in shorter time frames, do not dismiss looking at the fund's 3-year annualized total return of 21.82%, 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 11.36%, the standard deviation of FWWFX over the past three years is 16.7%. The standard deviation of the fund over the past 5 years is 17.67% compared to the category average of 13.34%. 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 1.07, which means it is likely to be more volatile than 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. With a negative alpha of -2.72, managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
Expenses
For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, FWWFX is a no load fund. It has an expense ratio of 0.90% compared to the category average of 0.94%. So, FWWFX is actually cheaper than its peers from a cost perspective.
This fund requires a minimum initial investment of $0, while 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, Fidelity Worldwide ( FWWFX ) looks like a somewhat average choice for investors right now.
For additional information on the Global - 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 FWWFX too 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.
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Is Fidelity Worldwide (FWWFX) a Strong Mutual Fund Pick Right Now?
Having trouble finding a Global - Equity fund? Fidelity Worldwide (FWWFX - Free Report) is a possible starting point. 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. Fidelity Worldwide made its debut in May of 1990, and since then, FWWFX has accumulated about $3.42 billion in assets, per the most up-to-date date available. The fund is currently managed by Stephen DuFour who has been in charge of the fund since October of 2007.
Performance
Of course, investors look for strong performance in funds. This fund in particular has delivered a 5-year annualized total return of 10.04%, and it sits in the top third among its category peers. If you're interested in shorter time frames, do not dismiss looking at the fund's 3-year annualized total return of 21.82%, 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 11.36%, the standard deviation of FWWFX over the past three years is 16.7%. The standard deviation of the fund over the past 5 years is 17.67% compared to the category average of 13.34%. 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 1.07, which means it is likely to be more volatile than 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. With a negative alpha of -2.72, managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
Expenses
For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, FWWFX is a no load fund. It has an expense ratio of 0.90% compared to the category average of 0.94%. So, FWWFX is actually cheaper than its peers from a cost perspective.
This fund requires a minimum initial investment of $0, while 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, Fidelity Worldwide ( FWWFX ) looks like a somewhat average choice for investors right now.
For additional information on the Global - 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 FWWFX too 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.