If investors are looking at the Mutual Fund Equity Report fund category, make sure to pass over Invesco Developing Markets Y (ODVYX Quick QuoteODVYX - Free Report) . ODVYX bears a Zacks Mutual Fund Rank of 4 (Sell), which is based on various forecasting factors like size, cost, and past performance.

History of Fund/Manager

Invesco is based in Kansas City, MO, and is the manager of ODVYX. Invesco Developing Markets Y debuted in September of 2005. Since then, ODVYX has accumulated assets of about $11.10 billion, according to the most recently available information. The fund's current manager, Justin Leverenz, has been in charge of the fund since May of 2007.

Performance

Obviously, what investors are looking for in these funds is strong performance relative to their peers. This fund has delivered a 5-year annualized total return of -0.49%, and it sits in the bottom 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 -4.83%, which places it in the bottom 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. The standard deviation of ODVYX over the past three years is 20.29% compared to the category average of 14.98%. Looking at the past 5 years, the fund's standard deviation is 20.31% compared to the category average of 16.08%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

The fund has a 5-year beta of 0.81, so investors should note that it is hypothetically less volatile than the market at large. 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. ODVYX's 5-year performance has produced a negative alpha of -7.6, which means 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, ODVYX is a no load fund. It has an expense ratio of 0.99% compared to the category average of 1.13%. Looking at the fund from a cost perspective, ODVYX is actually cheaper than its peers.

This fund requires a minimum initial investment of $1,000, and each subsequent investment should be at least $50.

Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.

Bottom Line

Overall, Invesco Developing Markets Y ( ODVYX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, average downside risk, and lower fees, Invesco Developing Markets Y ( ODVYX ) looks like a somewhat weak choice for investors right now.

This could just be the start of your research on ODVYXin the Mutual Fund Equity Report category. Consider going to www.zacks.com/funds/mutual-funds for additional information about this fund, and all the others that we rank as well for additional information. If you are more of a stock investor, make sure to also check out our Zacks Rank, and our full suite of tools we have available for novice and professional investors alike.