If you have been looking for Mutual Fund Equity Report funds, a place to start could be Oppenheimer Discovery Y (ODIYX). ODIYX has a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
ODIYX finds itself in the Invesco family, based out of Kansas City, MO. Oppenheimer Discovery Y debuted in June of 1994. Since then, ODIYX has accumulated assets of about $1.36 billion, according to the most recently available information. The fund’s current manager, Ronald J. Zibelli Jr.Has been in charge of the fund since May of 2006.
Of course, investors look for strong performance in funds. This fund carries a 5-year annualized total return of 9.73%, and is in the top third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 6.29%, 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. The standard deviation of ODIYX over the past three years is 25.83% compared to the category average of 18.87%. The fund’s standard deviation over the past 5 years is 23.53% compared to the category average of 16.63%. This makes the fund more volatile than its peers over the past half-decade.
Investors should note that the fund has a 5-year beta of 1.07, so it is likely going to be more volatile than the market at large. 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. ODIYX has generated a positive alpha over the past five years of 0.63, demonstrating 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 largely on equities that are traded in the United States.
Currently, this mutual fund is holding 95.25% stock in stocks, which have an average market capitalization of $6.28 billion. The fund has the heaviest exposure to the following market sectors:
- Industrial Cyclical
Turnover is 84%, which means, on average, the fund makes fewer trades than comparable funds.
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, ODIYX is a no load fund. It has an expense ratio of 0.78% compared to the category average of 1.19%. ODIYX is actually cheaper than its peers when you consider factors like cost.
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.
Overall, Oppenheimer Discovery Y ( ODIYX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, worse downside risk, and lower fees, this fund looks like a good potential choice for investors right now.
This could just be the start of your research on ODIYXin 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. For analysis of the rest of your portfolio, make sure to visit Zacks.com for our full suite of tools which will help you investigate all of your stocks and funds in one place.