Is Vanguard International Growth Investor (VWIGX) a Strong Mutual Fund Pick Right Now?

On the lookout for a Non US - Equity fund? Starting with Vanguard International Growth Investor (VWIGX) is one possibility. VWIGX carries a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance.ObjectiveVWIGX 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/ManagerVanguard Group is based in Malvern, PA, and is the manager of VWIGX. Vanguard International Growth Investor made its debut in September of 1981, and since then, VWIGX has accumulated about $6.18 billion in assets, per the most up-to-date date available. The fund is currently managed by a team of investment professionals.PerformanceOf course, investors look for strong performance in funds. This fund carries a 5-year annualized total return of 7.22%, and is in the middle third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 13.74%, which places it in the middle 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. The standard deviation of VWIGX over the past three years is 20.93% compared to the category average of 16.5%. Over the past 5 years, the standard deviation of the fund is 21.07% compared to the category average of 15.78%. This makes the fund more volatile than its peers over the past half-decade.Risk FactorsWith a 5-year beta of 1.08, the fund is likely to be more 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. The fund has produced a negative alpha over the past 5 years of -8.38, which shows that 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, VWIGX is a no load fund. It has an expense ratio of 0.37% compared to the category average of 0.94%. From a cost perspective, VWIGX is actually cheaper than its peers.While the minimum initial investment for the product is $3,000, investors should also note that each subsequent investment needs to be at least $1.Fees charged by investment advisors have not been taken into consideration. Returns would be less if those were included.Bottom LineOverall, Vanguard International Growth Investor ( VWIGX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, worse downside risk, and lower fees, Vanguard International Growth Investor ( VWIGX ) looks like a great potential choice for investors right now.This could just be the start of your research on VWIGX 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. 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 Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. 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