Is Invesco International Small-Mid Company A (OSMAX) a Strong Mutual Fund Pick Right Now?

If investors are looking at the Non US - Equity fund category, make sure to pass over Invesco International Small-Mid Company A (OSMAX). OSMAX bears a Zacks Mutual Fund Rank of 5 (Strong Sell), which is based on various forecasting factors like size, cost, and past performance.ObjectiveOSMAX 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/ManagerInvesco is responsible for OSMAX, and the company is based out of Kansas City, MO. Invesco International Small-Mid Company A debuted in November of 1997. Since then, OSMAX has accumulated assets of about $617.61 million, according to the most recently available information. The fund's current manager, David Nadel, has been in charge of the fund since November of 2019.PerformanceOf course, investors look for strong performance in funds. OSMAX has a 5-year annualized total return of 3.61% and is in the bottom third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 3.26%, which places it in the bottom 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 14.81%, the standard deviation of OSMAX over the past three years is 21.68%. Looking at the past 5 years, the fund's standard deviation is 20.26% compared to the category average of 14.58%. This makes the fund more volatile than its peers over the past half-decade.Risk FactorsInvestors should not forget about beta, an important way to measure a mutual fund's risk compared to the market as a whole. OSMAX has a 5-year beta of 1.05, which means it is likely to be more volatile than the market average. 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. OSMAX has generated a negative alpha over the past five years of -10.71, demonstrating 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, OSMAX is a load fund. It has an expense ratio of 1.38% compared to the category average of 1%. Looking at the fund from a cost perspective, OSMAX is actually more expensive than its peers.While the minimum initial investment for the product is $1,000, investors should also note that each subsequent investment needs to be at least $50.Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.Bottom LineOverall, Invesco International Small-Mid Company A ( OSMAX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, worse downside risk, and higher fees, Invesco International Small-Mid Company A ( OSMAX ) looks like a somewhat weak choice for investors right now.This could just be the start of your research on OSMAXin 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. And don't forget, Zacks has all of your needs covered on the equity side too! Make sure to check out Zacks.com for more information on our screening capabilities, Rank, and all our articles as well.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 (OSMAX): 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