Investing in mutual funds for retirement is never too late. And the Zacks Mutual Fund Rank can be an excellent tool for investors looking to invest in the best funds.
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.
Fidelity Focused Stock Fund (FTQGX): 0.79% expense ratio and 0.62% management fee. FTQGX is a Large Cap Growth mutual fund, and these funds invest in many large U.S. firms that are projected to grow at a faster rate than their large-cap peers. With annual returns of 11.72% over the last five years, this fund is a winner.
JPMorgan Mid Cap Growth I (HLGEX): 0.89% expense ratio and 0.65% management fee. HLGEX 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. HLGEX, with annual returns of 10.52% over the last five years, is a well-diversified fund with a long track record of success.
TIAA-CREF SocialChoice LwCrbnEq Ins (TNWCX): 0.31% expense ratio and 0.25% management fee. TNWCX is part of the Large Cap Blend section, and these mutual funds most often invest in firms with a market capitalization of $10 billion or more. By investing in bigger companies, these funds offer more stability, and are often well-suited for investors with a "buy and hold" mindset. With a five-year annual return of 10.82%, this fund is a well-diversified fund with a long track record of success.
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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