Sector - Other fund seekers should consider taking a look at Fidelity Select Leisure & Entertainment (FDLSX Quick QuoteFDLSX - Free Report) . FDLSX carries 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

Fidelity is responsible for FDLSX, and the company is based out of Boston, MA. Fidelity Select Leisure & Entertainment debuted in May of 1984. Since then, FDLSX has accumulated assets of about $620.92 million, according to the most recently available information. The fund is currently managed by Kevin Francfort who has been in charge of the fund since September of 2022.

Performance

Of course, investors look for strong performance in funds. This fund carries a 5-year annualized total return of 10.7%, and is in the middle 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 7.3%, 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. Compared to the category average of 0%, the standard deviation of FDLSX over the past three years is 21.15%. Over the past 5 years, the standard deviation of the fund is 25.24% compared to the category average of 48%. This makes the fund less volatile than its peers over the past half-decade.

Risk Factors

Investors should note that the fund has a 5-year beta of 1.22, which means it is hypothetically more volatile than 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. FDLSX's 5-year performance has produced a negative alpha of -5.06, 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, FDLSX is a no load fund. It has an expense ratio of 0.73% compared to the category average of 30%. So, FDLSX is actually cheaper than its peers from a cost perspective.

Investors need to be aware that with this product, the minimum initial investment is $0; 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 Select Leisure & Entertainment ( FDLSX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, better downside risk, and lower fees, Fidelity Select Leisure & Entertainment ( FDLSX ) looks like a good potential choice for investors right now.

For additional information on this product, or to compare it to other mutual funds in the Sector - Other, 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.