Having trouble finding a Mutual Fund Equity Report fund? Well, American Funds Cap World Growth & Income R3 (RWICX) would not be a good potential starting point right now. RWICX bears a Zacks Mutual Fund Rank of 4 (Sell), which is based on nine forecasting factors like size, cost, and past performance.History of Fund/ManagerAmerican Funds is based in Los Angeles, CA, and is the manager of RWICX. American Funds Cap World Growth & Income R3 debuted in March of 1993. Since then, RWICX has accumulated assets of about $1.49 billion, according to the most recently available information. A team of investment professionals is the fund's current manager.PerformanceInvestors naturally seek funds with strong performance. This fund carries a 5-year annualized total return of 12.76%, and is in the middle third among its category peers. If you're interested in shorter time frames, do not dismiss looking at the fund's 3-year annualized total return of 17.93%, 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. RWICX's standard deviation over the past three years is 16.15% compared to the category average of 14.96%. Over the past 5 years, the standard deviation of the fund is 14.13% compared to the category average of 12.65%. This makes the fund more volatile than its peers over the past half-decade.Risk FactorsInvestors should not forget about beta, an important way to measure a mutual fund's risk compared to the market as a whole. RWICX has a 5-year beta of 0.87, which means it is likely to be less volatile than 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 negative alpha of -2.89, managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.ExpensesFor 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, RWICX is a no load fund. It has an expense ratio of 1.07% compared to the category average of 1.13%. From a cost perspective, RWICX is actually cheaper than its peers.While the minimum initial investment for the product is $250, investors should also note that each subsequent investment needs to be at least $50.Bottom LineOverall, American Funds Cap World Growth & Income R3 ( RWICX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and lower fees, this fund looks like a somewhat weak choice for investors right now.This could just be the start of your research on RWICXin 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. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>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 (RWICX): Fund Analysis Report To read this article on Zacks.com click here.