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Is Fidelity New Millennium (FMILX) a Strong Mutual Fund Pick Right Now?
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All Cap Growth fund seekers should consider taking a look at Fidelity New Millennium (FMILX - Free Report) . FMILX has a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on various forecasting factors like size, cost, and past performance.
Objective
Tickers is classified in the All Cap Growth segment by Zacks, an area full of possibilities. All Cap Growth funds have holdings across small, medium, and large-cap levels in order to increase diversification. As long as stocks demonstrate strong growth characteristics, these portfolios will invest in various equity securities regardless of company size.
History of Fund/Manager
FMILX is a part of the Fidelity family of funds, a company based out of Boston, MA. Since Fidelity New Millennium made its debut in December of 1992, FMILX has garnered more than $4.77 billion in assets. Daniel Sherwood is the fund's current manager and has held that role since October of 2022.
Performance
Obviously, what investors are looking for in these funds is strong performance relative to their peers. This fund carries a 5-year annualized total return of 15.68%, and it sits 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 15.39%, which places it in the top 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 FMILX over the past three years is 16.72% compared to the category average of 16.59%. Over the past 5 years, the standard deviation of the fund is 19.44% compared to the category average of 18.91%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
The fund has a 5-year beta of 0.96, so investors should note that it is hypothetically less volatile than the market at large. 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. FMILX has generated a positive alpha over the past five years of 1.3, demonstrating that managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.
Expenses
For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, FMILX is a no load fund. It has an expense ratio of 0.86% compared to the category average of 0.91%. FMILX is actually cheaper than its peers when you consider factors like cost.
Investors should also note that the minimum initial investment for the product is $0 and that each subsequent investment has no minimum amount.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, Fidelity New Millennium ( FMILX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, this fund looks like a good potential choice for investors right now.
Don't stop here for your research on All Cap Growth 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 FMILX to its peers 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.
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Is Fidelity New Millennium (FMILX) a Strong Mutual Fund Pick Right Now?
All Cap Growth fund seekers should consider taking a look at Fidelity New Millennium (FMILX - Free Report) . FMILX has a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on various forecasting factors like size, cost, and past performance.
Objective
Tickers is classified in the All Cap Growth segment by Zacks, an area full of possibilities. All Cap Growth funds have holdings across small, medium, and large-cap levels in order to increase diversification. As long as stocks demonstrate strong growth characteristics, these portfolios will invest in various equity securities regardless of company size.
History of Fund/Manager
FMILX is a part of the Fidelity family of funds, a company based out of Boston, MA. Since Fidelity New Millennium made its debut in December of 1992, FMILX has garnered more than $4.77 billion in assets. Daniel Sherwood is the fund's current manager and has held that role since October of 2022.
Performance
Obviously, what investors are looking for in these funds is strong performance relative to their peers. This fund carries a 5-year annualized total return of 15.68%, and it sits 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 15.39%, which places it in the top 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 FMILX over the past three years is 16.72% compared to the category average of 16.59%. Over the past 5 years, the standard deviation of the fund is 19.44% compared to the category average of 18.91%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
The fund has a 5-year beta of 0.96, so investors should note that it is hypothetically less volatile than the market at large. 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. FMILX has generated a positive alpha over the past five years of 1.3, demonstrating that managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.
Expenses
For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, FMILX is a no load fund. It has an expense ratio of 0.86% compared to the category average of 0.91%. FMILX is actually cheaper than its peers when you consider factors like cost.
Investors should also note that the minimum initial investment for the product is $0 and that each subsequent investment has no minimum amount.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, Fidelity New Millennium ( FMILX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, this fund looks like a good potential choice for investors right now.
Don't stop here for your research on All Cap Growth 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 FMILX to its peers 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.