|Expense Ratio (net)||0.76%|
|Last Cap Gain||0.00|
|Morningstar Risk Rating||Average|
|Beta (3Y Monthly)||0.91|
|5y Average Return||N/A|
|Average for Category||N/A|
|Inception Date||May 8, 1984|
Despite trade war remaining a concern for factories, manufacturing activities improved steadily, indicating that the U.S. economy has remined largely resilient.
Per the latest report from the Institute of Supply Management (ISM), manufacturing activity in the United States increased considerably in August from July, reaching a 147-year high. Out of the 18 key manufacturing industries, steady expansion in 16 industries gave a boost to manufacturing activity last month.
With manufacturing activity witnessing best performance in August in 14 years, we have selected three Fidelity mutual funds
Business spending on capital goods in the United States witnessed a surge in April. The Republican tax overhaul policy and steadily rising oil prices have resulted in increased business spending. Interestingly, the Trump administration has hinted at a fresh round of tax cuts prior to the midterm election to be held in November.
Industrial production for the month of April rose 0.7%. Overall, industrial production registered year-over-year growth of 3.5%. Given such positives, we have highlighted four industrial mutual funds carrying a Zacks Mutual Fund Rank #1 (Strong Buy) or 2 (Buy).
Per the latest report from the Commerce Department, U.S. factory orders increased 1.6% in March. Under such broadly encouraging conditions, investing in mutual funds from the industrial sector seems prudent. On May 3, the Commerce Department stated that U.S. factory orders for March rose to $507.7 billion.