Mutual fund investments have several benefits, such as diversification, higher liquidity, and low minimum investment requirements. Further, these funds allow investors to mitigate risks when compared to individual stocks. Today, we have focused on two mutual funds – FSPSX and NASDX – with over 10% upside potential projected by analysts in the next twelve months.
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Let’s delve deeper.
Fidelity International Index Fund (FSPSX)
The FSPSX fund invests about 80% of assets in common stocks included in the Morgan Stanley Capital International Europe, Australasia, and Far East Index. The fund aims to provide investment results that reflect the total return of foreign stock markets. As of today, FSPSX has 806 holdings with total assets of $44.01 billion. Moreover, the fund has generated returns of about 13% over the past six months.
On TipRanks, FSPSX has a Moderate Buy consensus rating. This is based on 342 stocks with a Buy rating, 425 stocks with a Hold rating, and 39 stocks with a Sell recommendation. The average FSPSX mutual fund price target of $59.35 implies 18.68% upside potential from the current levels.
Nasdaq-100 Index Fund Class S (NASDX)
The NASDX is a passively managed mutual fund. It seeks to track the performance of the Nasdaq-100 Index (NDX). As of today, NASDX has 102 holdings with total assets of $1.41 billion. Over the past six months, the NASDX fund has gained nearly 16%.
NASDX has a Strong Buy consensus rating. This is based on the weighted average consensus rating of each stock held in the portfolio. Of the 102 stocks held, 84 have Buy recommendations, 16 have a Hold rating, and two have a Sell rating. The analysts’ average price target on the NASDX fund of $41.41 implies 12.26% upside potential from the current levels.
Concluding Thoughts
The benefits of investing in mutual funds, coupled with the projected upside potential of FSPSX and NASDX, make these funds worth considering by investors. However, a prudent approach necessitates in-depth research before investing.
