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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.
Here are the funds that have achieved the Zacks Mutual Fund Rank #1 (Strong Buy) and have low fees.
Fidelity Growth Discovery
(FDSVX): 0.66% expense ratio and 0.65% management fee. FDSVX 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 annual returns of 19.2% over the last five years, this fund is a winner.
Oppenheimer SteelPath MLP Select 40 I
(OSPSX): 0.93% expense ratio and 0.7% management fee. OSPSX is a Sector - Energy mutual fund, which encompasses a wide range of vastly changing and vitally important industries throughout this massive global sector. With yearly returns of 22.81% over the last five years, OSPSX is an effectively diversified fund with a long reputation of solidly positive performance.
Putnam Small Cap Value R
(PSCRX): 0.7% expense ratio and 0.62% management fee. PSCRX is a Small Cap Value fund, and these funds are known for investing in companies with market caps under $2 billion. With a five-year annual return of 13.7%, this fund is a well-diversified fund with a long track record of success.
There you have it. If your financial advisor had you put your money into any of our top-ranked funds, then they've got you covered. If not, you may need to talk.
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This article originally published on Zacks Investment Research (zacks.com).