Any investors hoping to find a Non US – Equity fund could think about starting with Oppenheimer International Small -Mid Company Y (OSMYX). OSMYX carries a Zacks Mutual Fund Rank of 3 (Hold), which is based on nine forecasting factors like size, cost, and past performance.
Zacks categorizes OSMYX as Non US – Equity, a segment stacked high with options. Non US – Equity mutual funds like to invest in companies outside of the United States, an important characteristic since global mutual funds are known to keep a good portion of their portfolio stateside. These kinds of funds can often extend across all cap levels, and will typically allocate their investments between emerging and developed markets.
History of Fund/Manager
OSMYX is a part of the Invesco family of funds, a company based out of Kansas City, MO. The Oppenheimer International Small -Mid Company Y made its debut in September of 2005 and OSMYX has managed to accumulate roughly $3.55 billion in assets, as of the most recently available information. The fund is currently managed by David Nadel who has been in charge of the fund since November of 2019.
Of course, investors look for strong performance in funds. This fund in particular has delivered a 5-year annualized total return of 15.3%, 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 9.79%, 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. Compared to the category average of 16.03%, the standard deviation of OSMYX over the past three years is 18.57%. The standard deviation of the fund over the past 5 years is 15.83% compared to the category average of 13.52%. 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 0.91, so it is likely going to be less volatile than the market at large. 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. With a positive alpha of 0.15, managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.
For 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, OSMYX is a no load fund. It has an expense ratio of 1.10% compared to the category average of 1.19%. From a cost perspective, OSMYX is actually cheaper than its peers.
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 International Small -Mid Company Y ( OSMYX ) has a neutral Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, this fund looks like a somewhat average choice for investors right now.
This could just be the start of your research on OSMYXin 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. If you want to check out our stock reports as well, make sure to go to Zacks.com to see all of the great tools we have to offer, including our time-tested Zacks Rank.