Any investors who are searching for Mutual Fund Equity Report funds should take a look at Fidelity Large Cap Growth Enhance Index (FLGEX). The fund does not have a Zacks Mutual Fund Rank, though we have been able to explore other metrics like performance, volatility, and cost.
History of Fund/Manager
Fidelity is based in Boston, MA, and is the manager of FLGEX. Since Fidelity Large Cap Growth Enhance Index made its debut in May of 2007, FLGEX has garnered more than $2.02 billion in assets. The fund is currently managed by a team of investment professionals.
Of course, investors look for strong performance in funds. This fund has delivered a 5-year annualized total return of 10.53%, 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 10.91%, 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. FLGEX’s standard deviation over the past three years is 22.97% compared to the category average of 23.87%. The standard deviation of the fund over the past 5 years is 20.05% compared to the category average of 21.12%. This makes the fund less volatile than its peers over the past half-decade.
Investors should note that the fund has a 5-year beta of 1.04, which means it is hypothetically more volatile than the market at large. 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. Over the past 5 years, the fund has a positive alpha of 0.82. This means that managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.
Investigating the equity holdings of a mutual fund is also a valuable exercise. This can show us how the manager is applying their stated methodology, as well as if there are any inherent biases in their approach. For this particular fund, the focus is principally on equities that are traded in the United States.
This fund is currently holding about 99.14% stock in stocks, which have an average market capitalization of $354.01 billion. The fund has the heaviest exposure to the following market sectors:
- Retail Trade
With turnover at about 101%, this fund makes more trades per year than the comparable average.
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, FLGEX is a no load fund. It has an expense ratio of 0.39% compared to the category average of 0.99%. FLGEX is actually cheaper than its peers when you consider factors like cost.
This fund requires a minimum initial investment of $0, while there is no minimum for each subsequent investment.
This could just be the start of your research on FLGEXin the Mutual Fund Equity Report 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.