Are you on the hunt for an Index fund? You should think about starting with Fidelity International Enhanced Index Fund . While this fund is not tracked by the Zacks Mutual Fund Rank, we were able to examine other factors like performance, volatility, and cost.
History of Fund/Manager
Fidelity is responsible for FIENX, and the company is based out of Boston, MA. Fidelity International Enhanced Index Fund debuted in January of 2008. Since then, FIENX has accumulated assets of about $1.71 billion, according to the most recently available information. The fund is currently managed by a team of investment professionals.
Performance
Of course, investors look for strong performance in funds. This fund in particular has delivered a 5-year annualized total return of 5.78%, and is in the middle 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 10.12%, which places it in the middle third during this time-frame.
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. FIENX's standard deviation over the past three years is 10.39% compared to the category average of 9.16%. The fund's standard deviation over the past 5 years is 10.71% compared to the category average of 9.41%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
One cannot ignore the volatility of this segment, however, as it is always important for investors to remember the downside to any potential investment.
Nevertheless, with a 5-year beta of 0.86, the fund is likely to be less 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. With a negative alpha of -5.37, 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, FIENX is a no load fund. It has an expense ratio of 0.60% compared to the category average of 0.85%. Looking at the fund from a cost perspective, FIENX is actually cheaper than its peers.
This fund requires a minimum initial investment of $2,500, while there is no minimum for each subsequent investment.
Bottom Line
Your research on the Index segment doesn't have to stop here. You can check out all the great mutual fund tools we have to offer by going to www.zacks.com/funds/mutual-funds to see the additional features we offer 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.
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Is Fidelity International Enhanced Index Fund (FIENX) a Strong Mutual Fund Pick Right Now?
Are you on the hunt for an Index fund? You should think about starting with Fidelity International Enhanced Index Fund . While this fund is not tracked by the Zacks Mutual Fund Rank, we were able to examine other factors like performance, volatility, and cost.
History of Fund/Manager
Fidelity is responsible for FIENX, and the company is based out of Boston, MA. Fidelity International Enhanced Index Fund debuted in January of 2008. Since then, FIENX has accumulated assets of about $1.71 billion, according to the most recently available information. The fund is currently managed by a team of investment professionals.
Performance
Of course, investors look for strong performance in funds. This fund in particular has delivered a 5-year annualized total return of 5.78%, and is in the middle 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 10.12%, which places it in the middle third during this time-frame.
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. FIENX's standard deviation over the past three years is 10.39% compared to the category average of 9.16%. The fund's standard deviation over the past 5 years is 10.71% compared to the category average of 9.41%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
One cannot ignore the volatility of this segment, however, as it is always important for investors to remember the downside to any potential investment.
Nevertheless, with a 5-year beta of 0.86, the fund is likely to be less 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. With a negative alpha of -5.37, 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, FIENX is a no load fund. It has an expense ratio of 0.60% compared to the category average of 0.85%. Looking at the fund from a cost perspective, FIENX is actually cheaper than its peers.
This fund requires a minimum initial investment of $2,500, while there is no minimum for each subsequent investment.
Bottom Line
Your research on the Index segment doesn't have to stop here. You can check out all the great mutual fund tools we have to offer by going to www.zacks.com/funds/mutual-funds to see the additional features we offer 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.