Is Fidelity Mid-Cap Stock Fund (FMCSX) a Strong Mutual Fund Pick Right Now?

If you've been stuck searching for Mid Cap Blend funds, consider Fidelity Mid-Cap Stock Fund (FMCSX) as a possibility. FMCSX bears a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on various forecasting factors like size, cost, and past performance.ObjectiveFMCSX is classified in the Mid Cap Blend category by Zacks, an area full of possibilities. Mid Cap Blend mutual funds usually feature a portfolio with stocks of various styles and sizes, allowing for diversification within a strategy that focuses on companies in the $2 billion to $10 billion market cap range. A mid-cap blend fund provides exposure to exciting growth potential, income opportunities, and value picks, while also attempting some level of stability through diversification.History of Fund/ManagerFidelity is responsible for FMCSX, and the company is based out of Boston, MA. The Fidelity Mid-Cap Stock Fund made its debut in March of 1994 and FMCSX has managed to accumulate roughly $6.88 billion in assets, as of the most recently available information. The fund's current manager, Nicola Stafford, has been in charge of the fund since July of 2017.PerformanceObviously, what investors are looking for in these funds is strong performance relative to their peers. This fund has delivered a 5-year annualized total return of 12.6%, 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 8.58%, 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. FMCSX's standard deviation over the past three years is 17.64% compared to the category average of 17%. Looking at the past 5 years, the fund's standard deviation is 20.26% compared to the category average of 18.17%. 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 0.99, which means it is hypothetically as volatile as 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 negative alpha of -2.39. This means that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.HoldingsExploring 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 mostly on equities that are traded in the United States.This fund is currently holding about 75.99% in stocks, which have an average market capitalization of $17.31 billion. The fund has the heaviest exposure to the following market sectors: Finance Industrial Cyclical Technology This fund's turnover is about 27%, so the fund managers are making fewer trades than the average comparable fund.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, FMCSX is a no load fund. It has an expense ratio of 0.82% compared to the category average of 0.93%. FMCSX is actually cheaper than its peers when you consider factors like cost.Investors should also note that the minimum initial investment for the product is $0 and that 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 Mid-Cap Stock Fund ( FMCSX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, this fund looks like a good potential choice for investors right now.Your research on the Mid Cap Blend segment doesn't have to stop here. 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