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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.
How can you tell a good mutual fund from a bad one? It's pretty basic: if the fund is diversified, has low fees, and shows strong performance, it's a keeper. Of course, there's a wide range, but using the Zacks Mutual Fund Rank, we've found three mutual funds that would be great additions to any long-term retirement investors' portfolios.
Let's take a look at some of our top-ranked mutual funds with the lowest fees.
American Funds Income Fund of America 529E
(CIMEX): 0.83% expense ratio and 0.23% management fee. CIMEX is a Large Cap Value mutual fund, which invests in stocks with a market cap of $10 billion of more, but whose share prices do not reflect their intrinsic value. With annual returns of 10.96% over the last five years, this fund is a winner.
Davis New York Venture Fund Y
(DNVYX): 0.66% expense ratio and 0.54% management fee. DNVYX is a Global - Equity mutual fund investing in bigger markets like the U.S., Europe, and Japan; these kinds of funds aren't limited by geography. DNVYX, with annual returns of 17.22% over the last five years, is a well-diversified fund with a long track record of success.
SEI Aggressive Strategy F (SAAT)
(SSGAX). Expense ratio: 0.36%. Management fee: 0.1%. Five year annual return: 11%. SSGAX is a part of the Allocation Balanced fund category; these funds like to invest in a variety of asset types, finding a balance between stocks, bonds, cash, and sometimes even precious metals and commodities; they are mostly categorized by their respective asset allocation.
These examples highlight the fact that there are some astonishingly good mutual funds out there. If your advisor has you in the good ones, bravo! If not, you may need to have a talk.
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This article originally published on Zacks Investment Research (zacks.com).