It’s never too late to invest in mutual funds for retirement, and the Zacks Mutual Fund Rank can help investors find the best funds. By analyzing performance, diversification, and fees, the Zacks Mutual Fund Rank has identified three outstanding funds that are ideal for long-term retirement investing.
The first fund to consider for portfolio diversification is the Voya Growth & Income Portfolio I (IIVGX). This fund focuses on Large Cap Blend companies with market caps over $10 billion. It offers stability and is perfect for those with a “buy and hold” mindset. With an expense ratio of 0.67%, management fee of 0.6%, and a five-year annualized return of 11.96%, IIVGX is a winner.
Next is the Fidelity Select Semiconductors (FSELX), which belongs to the Sector – Tech mutual fund category. This fund allows investors to own a stake in the volatile technology sector but with a more diversified approach. With an expense ratio of 0.69%, management fee of 0.53%, and a five-year return of 27.18%, FSELX has performed exceptionally well.
Lastly, the MFS Mass Investors Growth Stock R1 (MIGMX) is part of the Large Cap Growth mutual fund category. It invests in large U.S. companies expected to experience faster growth compared to other large-cap stocks. Despite its higher expense ratio of 1.46% and a management fee of 0.33%, MIGMX has delivered a five-year annual return of 11.67%.
If your financial advisor has recommended any of these top-ranked funds, you’re in good hands. However, if they haven’t, it may be time to have a discussion. For the latest recommendations from Zacks Investment Research, you can download their free report on the 7 Best Stocks for the Next 30 Days.
Note: This article was originally published on Zacks.com.