If you've been stuck searching for Mid Cap Value funds, consider Fidelity Low-Priced Stock K (FLPKX) as a possibility. FLPKX has a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on nine forecasting factors like size, cost, and past performance.
FLPKX is one of many Mid Cap Value mutual funds to choose from. Mid Cap Value funds usually invest in companies with a stock market valuation between $2 billion and $10 billion; these medium-sized firms possess strong value and income opportunities for investors.
History of Fund/Manager
Fidelity is based in Boston, MA, and is the manager of FLPKX. Fidelity Low-Priced Stock K debuted in May of 2008. Since then, FLPKX has accumulated assets of about $5.34 billion, according to the most recently available information. The fund is currently managed by a team of investment professionals.
Investors naturally seek funds with strong performance. FLPKX has a 5-year annualized total return of 12.75% and is in the top third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 12.24%, 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. Compared to the category average of 19.54%, the standard deviation of FLPKX over the past three years is 20.45%. The standard deviation of the fund over the past 5 years is 16.39% compared to the category average of 16.2%. This makes the fund more volatile than its peers over the past half-decade.
With a 5-year beta of 1.03, the fund is likely to be as volatile as the market average. 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. The fund has produced a negative alpha over the past 5 years of -3.25, which shows that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
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, FLPKX is a no load fund. It has an expense ratio of 0.56% compared to the category average of 1.11%. Looking at the fund from a cost perspective, FLPKX is actually cheaper than its peers.
This fund requires a minimum initial investment of $0, while there is no minimum for each subsequent investment.
Overall, Fidelity Low-Priced Stock K ( FLPKX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, Fidelity Low-Priced Stock K ( FLPKX ) looks like a good potential choice for investors right now.
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