Have you been searching for a Non US - Equity fund? You might want to begin with Fidelity Emerging Markets K (FKEMX). FKEMX holds a Zacks Mutual Fund Rank of 3 (Hold), which is based on various forecasting factors like size, cost, and past performance.

Objective

We classify FKEMX in the Non US - Equity category, which is an area rife with potential choices. Investing in companies outside the United States is how Non US - Equity funds set themselves apart, since global funds tend to keep a good portion of their portfolio stateside. Many of these funds like to allocate across emerging and developed markets, and will often focus on all cap levels.

History of Fund/Manager

FKEMX is a part of the Fidelity family of funds, a company based out of Boston, MA. Fidelity Emerging Markets K made its debut in May of 2008, and since then, FKEMX has accumulated about $1.96 billion in assets, per the most up-to-date date available. The fund's current manager, John Dance, has been in charge of the fund since February of 2019.

Performance

Of course, investors look for strong performance in funds. This fund has delivered a 5-year annualized total return of 7.67%, 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 -1.28%, which places it in the middle 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. The standard deviation of FKEMX over the past three years is 19.73% compared to the category average of 14.85%. Looking at the past 5 years, the fund's standard deviation is 19.55% compared to the category average of 15.85%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

Investors should not forget about beta, an important way to measure a mutual fund's risk compared to the market as a whole. FKEMX has a 5-year beta of 0.79, which means it is likely to be less volatile than the market average. 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. FKEMX's 5-year performance has produced a negative alpha of -4.19, which means managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.