3 Top-Ranked Mutual Funds for Your Retirement - August 27, 2020
The funds in our "Magnificent Retirement Mutual Funds" list are some of the top-performing, best managed funds available. If you're already invested in them, congratulations! If you're not, don't worry - it's never too late to start getting the advantages of these outstanding funds for your retirement.
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 our Zacks Rank, we've found three mutual funds that would be great additions to any long-term retirement investors' portfolios.
Let's learn about some of Zacks' highest ranked mutual funds with low fees you may want to consider.
Harbor Capital Appreciation Investor (HCAIX) has a 1.03% expense ratio and 0.6% management fee. HCAIX 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 yearly returns of 16.19% over the last five years, this fund clearly wins.
Lord Abbett Convertible Fund I (LCFYX) is a stand out amongst its peers. LCFYX is categorized as a Convertible Bonds fund, and in the fixed income world, these funds are quite unique. These types of securities are a hybrid, meaning they have components of both fixed income and equity. With five-year annualized performance of 10.99%, expense ratio of 0.86% and management fee of 0.7%, this diversified fund is an attractive buy with a strong history of performance.
AllianzGI Mid-Cap Fund P (ARMPX) is an attractive large-cap allocation. ARMPX 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. ARMPX has an expense ratio of 0.89%, management fee of 0.87%, and annual returns of 13.12% over the past five years.
There you have it. If your financial advisor had you put your money into any of our "Magnificent Retirement Mutual Funds," then they've got you covered. If not, you may need to talk.
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