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It is never too late to invest in mutual funds for retirement. As such, if you plan to invest in some of the best funds, the Zacks Mutual Fund Rank can provide you with valuable guidance.
The easiest way to judge a mutual fund's quality over time is by analyzing its performance, diversification, and fees. Using the Zacks Mutual Fund Rank of over 19,000 mutual funds, we've identified three outstanding mutual funds that are ideally suited to help long-term investors pursue and achieve their retirement investing goals.
Here are the funds that have achieved the Zacks Mutual Fund Rank #1 (Strong Buy) and have low fees.
If you are looking to diversify your portfolio, consider
RBB Free Market US Equity
(FMUEX). FMUEX is an All Cap Growth mutual fund investing in a wide variety of equities, no matter the size of the company and as long as the firm exhibits growth characteristics. This fund is a winner, boasting an expense ratio of 0.54%, management fee of 0.49%, and a five-year annualized return track record of 12.31%.
Principal Mid Cap R5
(PMBPX) is a stand out amongst its peers. PMBPX is a Mid Cap Growth mutual fund. These funds aim to target companies with a market capitalization between $2 billion and $10 billion that are also expected to exhibit more extensive growth opportunities for investors than their peers. With five-year annualized performance of 11.68%, expense ratio of 0.83% and management fee of 0.58%, this diversified fund is an attractive buy with a strong history of performance.
T. Rowe Price Tax-Efficient Equity
(PREFX): 0.82% expense ratio and 0.64% management fee. PREFX is a Large Cap Growth option; these mutual funds purchase stakes in numerous large U.S. companies that are expected to develop and grow at a faster rate than other large-cap stocks. With a five-year annual return of 16.03%, this fund is a well-diversified fund with a long track record of success.
We hope that your investment advisor (if you use one) has you invested in one or all of the top-ranked mutual funds we've reviewed. But if that isn't the case, it might be time to have a conversation or reconsider this vitally important relationship.
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This article originally published on Zacks Investment Research (zacks.com).