Is Oppenheimer Global Opportunities Y (OGIYX) a Strong Mutual Fund Pick Right Now?

Zacks Equity Research
·4-min read

There are plenty of choices in the Mutual Fund Equity Report category, but where should you start your research? Well, one fund that may not be worth investigating is Oppenheimer Global Opportunities Y (OGIYX). OGIYX has a Zacks Mutual Fund Rank of 5 (Strong Sell), which is based on various forecasting factors like size, cost, and past performance.

History of Fund/Manager

Invesco is based in Kansas City, MO, and is the manager of OGIYX. Oppenheimer Global Opportunities Y made its debut in February of 2001, and since then, OGIYX has accumulated about $807.70 million in assets, per the most up-to-date date available. Frank Jennings is the fund's current manager and has held that role since February of 2001.

Performance

Investors naturally seek funds with strong performance. This fund has delivered a 5-year annualized total return of 0.04%, and it sits in the bottom 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 -3.05%, which places it in the bottom 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. Compared to the category average of 15.88%, the standard deviation of OGIYX over the past three years is 25.16%. The standard deviation of the fund over the past 5 years is 26.61% compared to the category average of 16.72%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

The fund has a 5-year beta of 1.25, so investors should note that it is hypothetically 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. OGIYX's 5-year performance has produced a negative alpha of -11.89, which means managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.

Expenses

As competition heats up in the mutual fund market, costs become increasingly important. Compared to its otherwise identical counterpart, a low-cost product will be an outperformer, all other things being equal. Thus, taking a closer look at cost-related metrics is vital for investors. In terms of fees, OGIYX is a no load fund. It has an expense ratio of 0.87% compared to the category average of 1.11%. So, OGIYX is actually cheaper than its peers from a cost perspective.

Investors need to be aware that with this product, the minimum initial investment is $1,000; each subsequent investment needs to be at least $50.

Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.

Bottom Line

Overall, Oppenheimer Global Opportunities Y ( OGIYX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, worse downside risk, and lower fees, Oppenheimer Global Opportunities Y ( OGIYX ) looks like a somewhat weak choice for investors right now.

Don't stop here for your research on Mutual Fund Equity Report funds. We also have plenty more on our site in order to help you find the best possible fund for your portfolio. Make sure to check out www.zacks.com/funds/mutual-funds for more information about the world of funds, and feel free to compare OGIYX to its peers 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.

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