BusinessIs Fidelity Advisor Small Cap Growth A (FCAGX) a...

Is Fidelity Advisor Small Cap Growth A (FCAGX) a Strong Mutual Fund Pick Right Now?

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There are plenty of choices in the Mutual Fund Equity Report category, but where should you start your research? Well, one fund that might be worth investigating is Fidelity Advisor Small Cap Growth A (FCAGX). FCAGX bears a Zacks Mutual Fund Rank of 2 (Buy), which is based on nine forecasting factors like size, cost, and past performance.

Fidelity is based in Boston, MA, and is the manager of FCAGX. Fidelity Advisor Small Cap Growth A debuted in November of 2004. Since then, FCAGX has accumulated assets of about $387.07 million, according to the most recently available information. The fund’s current manager, Patrick Venanzi, has been in charge of the fund since November of 2011.

Obviously, 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 20.2%, and it sits in the middle 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 21.84%, which places it in the middle 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. FCAGX’s standard deviation over the past three years is 22.46% compared to the category average of 16.86%. The standard deviation of the fund over the past 5 years is 19.24% compared to the category average of 13.92%. 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 1.09, which means it is hypothetically more 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 1.24, managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.

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