Having trouble finding a Mutual Fund Equity Report fund? Oppenheimer Discovery Y (ODIYX) is a potential starting point. ODIYX bears a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on nine 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 made its debut in June of 1994, and since then, ODIYX has accumulated about $1.89 billion in assets, per the most up-to-date date available. The fund's current manager, Ronald J. Zibelli Jr.Has been in charge of the fund since June of 2006.
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 24.47%, 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 33.68%, 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. ODIYX's standard deviation over the past three years is 20.87% compared to the category average of 16.76%. The standard deviation of the fund over the past 5 years is 19.14% compared to the category average of 14.16%. This makes the fund more volatile than its peers over the past half-decade.
With a 5-year beta of 1.03, the fund is likely to be as volatile as 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. With a positive alpha of 5.21, 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, ODIYX is a no load fund. It has an expense ratio of 0.78% compared to the category average of 1.21%. ODIYX is actually cheaper than its peers when you consider factors like cost.
Investors should also note that the minimum initial investment for the product is $1,000 and that each subsequent investment needs to be at $50.
Overall, Oppenheimer Discovery Y ( ODIYX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, Oppenheimer Discovery Y ( ODIYX ) 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. 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.
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