Any investors hoping to find a Mutual Fund Equity Report fund could think about starting with Fidelity Blue Chip Growth K (FBGKX Quick QuoteFBGKX - Free Report) . FBGKX holds a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance.

History of Fund/Manager

FBGKX finds itself in the Fidelity family, based out of Boston, MA. The Fidelity Blue Chip Growth K made its debut in May of 2008 and FBGKX has managed to accumulate roughly $3.42 billion in assets, as of the most recently available information. The fund's current manager, Sonu Kalra, has been in charge of the fund since July of 2009.

Performance

Of course, investors look for strong performance in funds. This fund has delivered a 5-year annualized total return of 10.66%, and is in the top 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 7.1%, which places it in the top 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. FBGKX's standard deviation over the past three years is 27.45% compared to the category average of 20.22%. Over the past 5 years, the standard deviation of the fund is 23.79% compared to the category average of 17.83%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

With a 5-year beta of 1.17, 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. The fund has produced a positive alpha over the past 5 years of 0.64, which shows that managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.

Holdings

Investigating the equity holdings of a mutual fund is also a valuable exercise. This can show us how the manager is applying their stated methodology, as well as if there are any inherent biases in their approach. For this particular fund, the focus is mostly on equities that are traded in the United States.

The mutual fund currently has 97.17% of its holdings in stocks, with an average market capitalization of $372.85 billion. The fund has the heaviest exposure to the following market sectors:

• Technology
• Retail Trade

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, FBGKX is a no load fund. It has an expense ratio of 0.68% compared to the category average of 0.99%. So, FBGKX 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 Blue Chip Growth K ( FBGKX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, worse downside risk, and lower fees, Fidelity Blue Chip Growth K ( FBGKX ) looks like a good potential choice for investors right now.

Don't stop here for your research on Mutual Fund Equity Report funds. We also have plenty more on our site in order to help you find the best possible fund for your portfolio. Make sure to check out www.zacks.com/funds/mutual-funds for more information about the world of funds, and feel free to compare FBGKX to its peers as well for additional information. And don't forget, Zacks has all of your needs covered on the equity side too! Make sure to check out Zacks.com for more information on our screening capabilities, Rank, and all our articles as well.