Is Fidelity International Small Cap (FISMX) a Strong Mutual Fund Pick Right Now?

Any investors hoping to find a Non US - Equity fund could think about starting with Fidelity International Small Cap (FISMX). FISMX bears a Zacks Mutual Fund Rank of 3 (Hold), which is based on various forecasting factors like size, cost, and past performance.ObjectiveFISMX is classified in the Non US - Equity area by Zacks, and this segment is full of potential. Non US - Equity funds focus their investments on companies outside of the United States, which is an important distinction since global mutual funds tend to keep a sizable portion of their portfolio based in the United States. Most of these funds will allocate across emerging and developed markets, and can often extend across cap levels too.History of Fund/ManagerFidelity is based in Boston, MA, and is the manager of FISMX. Fidelity International Small Cap made its debut in September of 2002, and since then, FISMX has accumulated about $1.82 billion in assets, per the most up-to-date date available. David Jenkins is the fund's current manager and has held that role since November of 2021.PerformanceObviously, 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 10.84%, and it sits 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 19.68%, 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 12.84%, the standard deviation of FISMX over the past three years is 13.06%. The standard deviation of the fund over the past 5 years is 15.4% compared to the category average of 13.28%. This makes the fund more volatile than its peers over the past half-decade.Risk FactorsWith a 5-year beta of 0.76, the fund is likely to be less volatile than the market average. 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. With a negative alpha of -1.76, managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.ExpensesAs 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, FISMX is a no load fund. It has an expense ratio of 0.95% compared to the category average of 0.94%. From a cost perspective, FISMX is actually more expensive than its peers.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 consideration. Returns would be less if those were included.Bottom LineOverall, even with its comparatively similar performance, average downside risk, and higher fees, Fidelity International Small Cap ( FISMX ) has a neutral Zacks Mutual Fund rank, and therefore looks a somewhat average choice for investors right now.This could just be the start of your research on FISMX in the Non US - Equity 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.Zacks Names #1 Semiconductor StockThis under-the-radar company specializes in semiconductor products that titans like NVIDIA don't build. It's uniquely positioned to take advantage of the next growth stage of this market. And it's just beginning to enter the spotlight, which is exactly where you want to be.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $971 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Get Your Free (FISMX): Fund Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks