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

If investors are looking at the Non US - Equity fund category, Fidelity International Small Cap Opportunities (FSCOX) could be a potential option. FSCOX bears a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on various forecasting factors like size, cost, and past performance.ObjectiveWe classify FSCOX in the Non US - Equity category, which is an area rife with potential choices. Investing in companies outside the United States is how Non US - Equity funds set themselves apart, since global funds tend to keep a good portion of their portfolio stateside. Many of these funds like to allocate across emerging and developed markets, and will often focus on all cap levels.History of Fund/ManagerFidelity is based in Boston, MA, and is the manager of FSCOX. The Fidelity International Small Cap Opportunities made its debut in August of 2005 and FSCOX has managed to accumulate roughly $893.48 million in assets, as of the most recently available information. The fund is currently managed by Jed Weiss who has been in charge of the fund since December of 2008.PerformanceOf course, investors look for strong performance in funds. This fund has delivered a 5-year annualized total return of 8.04%, and is in the top 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 15.78%, 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. Over the past three years, FSCOX's standard deviation comes in at 16.92%, compared to the category average of 14.76%. Over the past 5 years, the standard deviation of the fund is 18.39% compared to the category average of 14.28%. This makes the fund more volatile than its peers over the past half-decade.Risk FactorsInvestors should note that the fund has a 5-year beta of 0.96, so it is likely going to be less 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. Over the past 5 years, the fund has a negative alpha of -4.98. This means that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.ExpensesFor 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, FSCOX is a no load fund. It has an expense ratio of 0.94% compared to the category average of 0.99%. Looking at the fund from a cost perspective, FSCOX is actually cheaper than its peers.While the minimum initial investment for the product is $0, investors should also note that there is no minimum for each subsequent investment.Fees charged by investment advisors have not been taken into consideration. Returns would be less if those were included.Bottom LineOverall, Fidelity International Small Cap Opportunities ( FSCOX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, Fidelity International Small Cap Opportunities ( FSCOX ) looks like a good potential choice for investors right now.Your research on the Non US - Equity segment doesn't have to stop here. You can check out all the great mutual fund tools we have to offer by going to www.zacks.com/funds/mutual-funds to see the additional features we offer as well 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.Zacks' Research Chief Picks Stock Most Likely to "At Least Double"Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren’t winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%.See Our Top Stock to Double (Plus 4 Runners Up) >>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 (FSCOX): 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