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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 best way to shortlist great mutual funds is to ensure solid performance, diversification, and low fees. Some are better than others, but utilizing the Zacks Mutual Fund Rank, we have identified three mutual funds that could be solid additions to one's retirement portfolio.
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
Bridgeway Aggressive Investors 1
(BRAGX). BRAGX 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 0.46%, management fee of 0.19%, and a five-year annualized return track record of 14.32%.
Federated MDT Mid Cap Growth A
(FGSAX): 1.14% expense ratio and 0.75% management fee. FGSAX is a Mid Cap Growth mutual fund. Mid Cap Growth funds pick stocks--usually companies with a market cap between $2 billion and $10 billion--that demonstrate extensive growth opportunities for investors compared to their peers. FGSAX, with annual returns of 17.56% over the last five years, is a well-diversified fund with a long track record of success.
Fidelity Advisor Stock Select Allocation Cap M
(FSJHX) is an attractive large-cap allocation. FSJHX 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. FSJHX has an expense ratio of 0.97%, management fee of 0.47%, and annual returns of 13.42% over the past five years.
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).