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Is MSIF International Opportunities I (MIOIX) a Strong Mutual Fund Pick Right Now?
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On the lookout for a Mutual Fund Equity Report fund? Starting with MSIF International Opportunities I (MIOIX - Free Report) should not be a possibility at this time. MIOIX carries a Zacks Mutual Fund Rank of 5 (Strong Sell), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
MIOIX finds itself in the MorgStanley family, based out of New York, NY. MSIF International Opportunities I made its debut in March of 2010, and since then, MIOIX has accumulated about $1.12 billion in assets, per the most up-to-date date available. The fund's current manager, Kristian Heugh, has been in charge of the fund since May of 2010.
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 0.66%, and is 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 -1.2%, which places it in the bottom 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. The standard deviation of MIOIX over the past three years is 28% compared to the category average of 18.2%. The standard deviation of the fund over the past 5 years is 23.86% compared to the category average of 15.78%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
The fund has a 5-year beta of 1.01, so investors should note that it is hypothetically as volatile as the market at large. Alpha is an additional metric to take into consideration, since it represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which in this case, is the S&P 500. MIOIX has generated a negative alpha over the past five years of -7.47, 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, MIOIX is a no load fund. It has an expense ratio of 1% compared to the category average of 1.10%. From a cost perspective, MIOIX is actually cheaper than its peers.
While the minimum initial investment for the product is $1 million, investors should also note that there is no minimum for each subsequent investment.
Bottom Line
Overall, MSIF International Opportunities I ( MIOIX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, worse downside risk, and lower fees, MSIF International Opportunities I ( MIOIX ) looks like a somewhat weak choice for investors right now.
For additional information on the Mutual Fund Equity Report 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 MIOIX too for additional information. For analysis of the rest of your portfolio, make sure to visit Zacks.com for our full suite of tools which will help you investigate all of your stocks and funds in one place.
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Is MSIF International Opportunities I (MIOIX) a Strong Mutual Fund Pick Right Now?
On the lookout for a Mutual Fund Equity Report fund? Starting with MSIF International Opportunities I (MIOIX - Free Report) should not be a possibility at this time. MIOIX carries a Zacks Mutual Fund Rank of 5 (Strong Sell), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
MIOIX finds itself in the MorgStanley family, based out of New York, NY. MSIF International Opportunities I made its debut in March of 2010, and since then, MIOIX has accumulated about $1.12 billion in assets, per the most up-to-date date available. The fund's current manager, Kristian Heugh, has been in charge of the fund since May of 2010.
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 0.66%, and is 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 -1.2%, which places it in the bottom 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. The standard deviation of MIOIX over the past three years is 28% compared to the category average of 18.2%. The standard deviation of the fund over the past 5 years is 23.86% compared to the category average of 15.78%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
The fund has a 5-year beta of 1.01, so investors should note that it is hypothetically as volatile as the market at large. Alpha is an additional metric to take into consideration, since it represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which in this case, is the S&P 500. MIOIX has generated a negative alpha over the past five years of -7.47, 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, MIOIX is a no load fund. It has an expense ratio of 1% compared to the category average of 1.10%. From a cost perspective, MIOIX is actually cheaper than its peers.
While the minimum initial investment for the product is $1 million, investors should also note that there is no minimum for each subsequent investment.
Bottom Line
Overall, MSIF International Opportunities I ( MIOIX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, worse downside risk, and lower fees, MSIF International Opportunities I ( MIOIX ) looks like a somewhat weak choice for investors right now.
For additional information on the Mutual Fund Equity Report 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 MIOIX too for additional information. For analysis of the rest of your portfolio, make sure to visit Zacks.com for our full suite of tools which will help you investigate all of your stocks and funds in one place.