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.
PGIM Jennison Mid-Cap Growth Z (PEGZX): 0.74% expense ratio and 0.57% management fee. PEGZX is a Mid Cap Growth mutual fund. These funds aim to target companies with a market capitalization between $2 billion and $10 billion that are also expected to exhibit more extensive growth opportunities for investors than their peers. With annual returns of 11.43% over the last five years, this fund is a winner.
TIAA-CREF Growth & Income Retail (TIIRX): 0.65% expense ratio and 0.4% management fee. TIIRX 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 yearly returns of 10.58% over the last five years, TIIRX is an effectively diversified fund with a long reputation of solidly positive performance.
Vanguard Health Care Admiral (VGHAX): 0.29% expense ratio and 0.28% management fee. VGHAX is part of the Sector - Health category, offering investors a focus on the healthcare industry, one of the largest sectors in the American economy. The fund is mainly invested in equities, has a long reputation of salutary performance, and has yearly returns of 10.32% over the last five years.
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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