There are plenty of choices in the Non US - Equity category, but where should you start your research? Well, one fund that you should consider investigating is American Funds EuroPacific Growth R5 (RERFX). RERFX carries a Zacks Mutual Fund Rank of 3 (Hold), which is based on nine forecasting factors like size, cost, and past performance.ObjectiveRERFX is classified in the Non US - Equity area by Zacks, and this segment is full of potential. Non US - Equity funds focus their investments on companies outside of the United States, which is an important distinction since global mutual funds tend to keep a sizable portion of their portfolio based in the United States. Most of these funds will allocate across emerging and developed markets, and can often extend across cap levels too.History of Fund/ManagerAmerican Funds is based in Los Angeles, CA, and is the manager of RERFX. Since American Funds EuroPacific Growth R5 made its debut in November of 2002, RERFX has garnered more than $7.03 billion in assets. The fund is currently managed by a team of investment professionals.PerformanceInvestors naturally seek funds with strong performance. RERFX has a 5-year annualized total return of 14.44% and it sits in the middle third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 13.72%, which places it in the middle 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. The standard deviation of RERFX over the past three years is 18.78% compared to the category average of 15.14%. The standard deviation of the fund over the past 5 years is 15.53% compared to the category average of 12.58%. This makes the fund more volatile than its peers over the past half-decade.Risk FactorsInvestors should note that the fund has a 5-year beta of 0.89, so it is likely going to be less volatile than the market at large. 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 negative alpha of -1.02, managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.ExpensesCosts are increasingly important for mutual fund investing, and particularly as competition heats up in this market. And all things being equal, a lower cost product will outperform its otherwise identical counterpart, so taking a closer look at these metrics is key for investors. In terms of fees, RERFX is a no load fund. It has an expense ratio of 0.51% compared to the category average of 1.18%. So, RERFX is actually cheaper than its peers from a cost perspective.This fund requires a minimum initial investment of $250, and each subsequent investment should be at least $50.Bottom LineOverall, American Funds EuroPacific Growth R5 ( RERFX ) has a neutral Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and lower fees, American Funds EuroPacific Growth R5 ( RERFX ) looks like a somewhat average choice for investors right now.This could just be the start of your research on RERFXin the Non US - Equity 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 are more of a stock investor, make sure to also check out our Zacks Rank, and our full suite of tools we have available for novice and professional investors alike. 5 Stocks Set to Double Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Get Your Free (RERFX): Fund Analysis Report To read this article on Zacks.com click here.