Is Fidelity International Capital Appreciation (FIVFX) a Strong Mutual Fund Pick Right Now?

If you've been stuck searching for Non US - Equity funds, consider Fidelity International Capital Appreciation (FIVFX) as a possibility. FIVFX has a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on various forecasting factors like size, cost, and past performance.ObjectiveWe classify FIVFX 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 responsible for FIVFX, and the company is based out of Boston, MA. The Fidelity International Capital Appreciation made its debut in November of 1994 and FIVFX has managed to accumulate roughly $5.92 billion in assets, as of the most recently available information. The fund is currently managed by Sammy Simnegar who has been in charge of the fund since January of 2008.PerformanceInvestors naturally seek funds with strong performance. This fund has delivered a 5-year annualized total return of 9.56%, and it sits in the top 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 2.19%, 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, FIVFX's standard deviation comes in at 21.36%, compared to the category average of 20.17%. Over the past 5 years, the standard deviation of the fund is 19.25% compared to the category average of 19.39%. This makes the fund less volatile than its peers over the past half-decade.Risk FactorsWith a 5-year beta of 0.98, the fund is likely to be as volatile as 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. Over the past 5 years, the fund has a negative alpha of -4.99. This means that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.ExpensesCosts 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, FIVFX is a no load fund. It has an expense ratio of 0.91% compared to the category average of 0.94%. From a cost perspective, FIVFX is actually cheaper than its peers.Investors need to be aware that with this product, the minimum initial investment is $0; each subsequent investment has no minimum amount.Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.Bottom LineOverall, Fidelity International Capital Appreciation ( FIVFX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, Fidelity International Capital Appreciation ( FIVFX ) 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. 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.Infrastructure Stock Boom to Sweep AmericaA massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. 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