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Is Fidelity Advisor Mid Cap Value I (FMPOX) a Strong Mutual Fund Pick Right Now?
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Any investors hoping to find a Mutual Fund Equity Report fund could think about starting with Fidelity Advisor Mid Cap Value I (FMPOX - Free Report) . FMPOX carries a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on nine forecasting factors like size, cost, and past performance.
History of Fund/Manager
Fidelity is based in Boston, MA, and is the manager of FMPOX. Fidelity Advisor Mid Cap Value I made its debut in February of 2007, and since then, FMPOX has accumulated about $120.60 million in assets, per the most up-to-date date available. The fund is currently managed by Neil Nabar who has been in charge of the fund since July of 2021.
Performance
Obviously, what investors are looking for in these funds is strong performance relative to their peers. This fund in particular has delivered a 5-year annualized total return of 4.96%, and it sits in the bottom third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of 7.43%, 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. FMPOX's standard deviation over the past three years is 23.07% compared to the category average of 16.2%. Looking at the past 5 years, the fund's standard deviation is 20.73% compared to the category average of 14.46%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
With a 5-year beta of 1.11, the fund is likely to be more 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. FMPOX has generated a negative alpha over the past five years of -6.12, demonstrating that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
Expenses
As competition heats up in the mutual fund market, costs become increasingly important. Compared to its otherwise identical counterpart, a low-cost product will be an outperformer, all other things being equal. Thus, taking a closer look at cost-related metrics is vital for investors. In terms of fees, FMPOX is a no load fund. It has an expense ratio of 0.59% compared to the category average of 1.09%. So, FMPOX is actually cheaper than its peers from a cost perspective.
Investors should also note that the minimum initial investment for the product is $0 and that each subsequent investment has no minimum amount.
Bottom Line
Overall, Fidelity Advisor Mid Cap Value I ( FMPOX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, worse downside risk, and lower fees, Fidelity Advisor Mid Cap Value I ( FMPOX ) looks like a great potential choice for investors right now.
For additional information on this product, or to compare it to other mutual funds in the Mutual Fund Equity Report, make sure to go to www.zacks.com/funds/mutual-funds 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 Advisor Mid Cap Value I (FMPOX) a Strong Mutual Fund Pick Right Now?
Any investors hoping to find a Mutual Fund Equity Report fund could think about starting with Fidelity Advisor Mid Cap Value I (FMPOX - Free Report) . FMPOX carries a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on nine forecasting factors like size, cost, and past performance.
History of Fund/Manager
Fidelity is based in Boston, MA, and is the manager of FMPOX. Fidelity Advisor Mid Cap Value I made its debut in February of 2007, and since then, FMPOX has accumulated about $120.60 million in assets, per the most up-to-date date available. The fund is currently managed by Neil Nabar who has been in charge of the fund since July of 2021.
Performance
Obviously, what investors are looking for in these funds is strong performance relative to their peers. This fund in particular has delivered a 5-year annualized total return of 4.96%, and it sits in the bottom third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of 7.43%, 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. FMPOX's standard deviation over the past three years is 23.07% compared to the category average of 16.2%. Looking at the past 5 years, the fund's standard deviation is 20.73% compared to the category average of 14.46%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
With a 5-year beta of 1.11, the fund is likely to be more 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. FMPOX has generated a negative alpha over the past five years of -6.12, demonstrating that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
Expenses
As competition heats up in the mutual fund market, costs become increasingly important. Compared to its otherwise identical counterpart, a low-cost product will be an outperformer, all other things being equal. Thus, taking a closer look at cost-related metrics is vital for investors. In terms of fees, FMPOX is a no load fund. It has an expense ratio of 0.59% compared to the category average of 1.09%. So, FMPOX is actually cheaper than its peers from a cost perspective.
Investors should also note that the minimum initial investment for the product is $0 and that each subsequent investment has no minimum amount.
Bottom Line
Overall, Fidelity Advisor Mid Cap Value I ( FMPOX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, worse downside risk, and lower fees, Fidelity Advisor Mid Cap Value I ( FMPOX ) looks like a great potential choice for investors right now.
For additional information on this product, or to compare it to other mutual funds in the Mutual Fund Equity Report, make sure to go to www.zacks.com/funds/mutual-funds 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.