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FPBFX (fido Pac. Basin) or MAPIX (Mathews Asia Div.)

mcmarasco
in Fund Discussions
Also posted on M*.

I'm a long-time investor in MAPIX and have gotten in and out a couple of times; I am "in" right now. BUT, I'm not sure I'm getting the most bang-for-the-buck (pardon the cliche').

Absolute returns are good, not great, the downside has been okay, but not what I'd hoped, so I have been exploring other options in the Divers. Asia Pacific category.

I find myself looking closely at FIDO's Pac. Basin fund,FPBFX (my wife owns it in her 401K). It has a new manager since late 2013, so his track-record is very short and difficult to evaluate. When I compare it's returns and metrics to other funds (3 years and less), in particluar, MAPIX, FPBFX comes out mostly on top.

Returns favor FPBFX significantly; slight nod to MAPIX for M* "risk"/SD; Alpha, Treynor, upside/downside capture ratio favor FPBFX.

Furthermore, when I look at the "downside" Quarterly returns for 2013-2015, I find no real difference, if anything, it may favor FPBFX a bit.

Bottom line, what thoughts, suggestions and opinions do you have? Am i being too impatient and possibly "performace chasing"?


Thank you for any and all comments!!

Matt

Comments

  • PuddnheadPuddnhead
    Hi mcmarasco,
    I, too, am a long time investor in MAPIX. It's core.....if I want more---BANG! I get another fund. But this one stays JMO. Fidelity changes management too much for me. I had this fund long ago.....it didn't do much......sold and never went back again. New management, so who knows? As far as down side, I would say more of that is coming soon, so watch the funds and see. No need to hurry....I think you'll have time.
    God bless
    the Pudd
  • mcmarasco
    Thanks Pudd!!

    Your right, I'm not in a hurry to make a change and point well taken regarding mgmt change and more downside coming soon. I will keep an eye open.

    I also like your suggestion that adding a fund could be an alternative to replacement.


    God bless you and continued profitable investing!!!
  • CrashCrash
    I dunno why M* does not include the ubiquitous horizontal bar-graph on their MAPIX page re: risk/reward. But FPBFX has an inverted risk/reward profile. I don't like that. However, look at Rank In Category. You might convince even ME to get into FPBFX. But I'm covering my international "piece" with SFGIX and PRIDX, now. I'm holding just 9% ex-USA in equities.
  • msf
    I'd never taken a close look at those bar charts to see what they actually represent. My current working hypothesis is that they are simply the 10 year risk and reward ratings on the ratings & risk tab. If my theory is correct, funds that have not been around at least 10 years will not have these bar charts on their quote pages.

    The three year performance/risk buckets are above average/average. Since the manager has been around for just two years, that would seem to be the better set of ratings to look at in any case.

    The next question is how FPBFX could be rated as average performance vs. category over 10 years when it landed in the 7th percentile, with 60% better performance than the category average (6.31% vs. 3.88%).

    This suggests either the performance rating is wrong, or "category" is defined differently for "category performance" in the quote page table and for "return vs. category" on the ratings&risk tab. That is, the category comparisons might not be the same for the percentile figure and for the "average" bucket.
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