5 Best Performing Technology Mutual Funds Year to Date

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Technology has increasingly become an indispensable part of our daily lives and the future prospects of this sector only seem brighter. However, the boom of tech funds in the late nineties and their subsequent downfall during the decline that followed has invoked a certain degree of skepticism even among those bullish on this category. But for investors seeking aggressive growth over the long term, investing in funds that focus on technology and innovation could be a prudent option in times to come.

Below we will share with you the 5 best performing technology mutual funds year to date. To view the Zacks Rank and past performance of all technology funds, investors can click here to see the complete list of funds.

Mutual Fund

Zacks Rank

Total Return YTD

ProFunds Semiconductor UltraSector

#1 Strong Buy

26.37%

ProFunds Internet UltraSector

#1 Strong Buy

23.33%

Waddell & Reed Science & Technology A

#1 Strong Buy

21.63%

Red Oak Technology

#1 Strong Buy

18.51%

Fidelity Select Electronics

#1 Strong Buy

17.72%

 

ProFunds Semiconductor UltraSector (SMPSX) invests in securities and derivatives with an objective to generate returns which are 150% of the daily performance of the Dow Jones U.S. Semiconductors Index. This technology mutual fund is non-diversified and has a three year annualized return of 12.23%.

The fund manager is Hratch Najarian and he has managed this technology mutual fund since 2011.

ProFunds Internet UltraSector (INPSX) invests in securities and derivatives with the objective of generating return investment results which are 150% of the daily performance of the Dow Jones Internet Composite Index. This technology mutual fund is non-diversified and has a three year annualized return of 32.11%.

The technology mutual fund has a minimum initial investment of $15,000 and an expense ratio of 2.84% compared to a category average of 1.56%.

Waddell & Reed Science & Technology A (UNSCX) invests the majority of its assets in technology companies. Investments can be made in companies which use technology to enhance their business operations. The fund invests in companies regardless of market cap and without any limit in foreign companies. The technology mutual fund has a three year annualized return of 21.74%.

As of March 2013, this technology mutual fund held 75 issues, with 6.92% of its total assets invested in Aspen Technology, Inc.

Red Oak Technology (ROGSX) invests a large share of its assets in companies whose primary operations are related to technology products or services. The fund generally invests in domestic securities but may invest a small portion of its assets in foreign companies and American Depository Receipts (ADRs).The technology mutual fund has a three year annualized return of 19.52%.

The fund manager is Mark W. Oelschlager and he has managed this technology mutual fund since 2006.

Fidelity Select Electronics (FSELX) invests the majority of its assets in companies whose primary operations are related to electronics. Investments are made in both domestic and foreign companies. The fund uses fundamental analysis to select companies for investment purposes. The technology mutual fund has a three year annualized return of 13.23%.

The technology mutual fund has a minimum initial investment of $2,500 and an expense ratio of 0.82% compared to a category average of 1.56%.

To view the Zacks Rank and past performance of all technology mutual funds, investors can click here to see the complete list of funds.

About Zacks Mutual Fund Rank

By applying the Zacks Rank to mutual funds, investors can find funds that not only outpaced the market in the past but are also expected to outperform going forward. Learn more about the Zacks Mutual Fund Rank at http://www.zacks.com/funds.

Read the analyst report on SMPSX

Read the analyst report on INPSX

Read the analyst report on UNSCX

Read the analyst report on ROGSX

Read the analyst report on FSELX

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