3 Great Mutual Fund Picks for Your Retirement
There is never a wrong time to invest in mutual funds for retirement. So, if you're still looking for the best mutual funds, the Zacks Mutual Fund Rank can be a great guide.
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.
Let's break down some of the mutual funds with the top Zacks Mutual Fund Rank and the lowest fees.
American Century Large Company Value I (ALVSX): 0.64% expense ratio and 0.63% management fee. ALVSX is a Large Cap Value mutual fund, which invests in stocks with a market cap of $10 billion of more, but whose share prices do not reflect their intrinsic value. With annual returns of 9.68% over the last five years, this fund is a winner.
MFS Growth Fund A (MFEGX). Expense ratio: 0.84%. Management fee: 0.49%. MFEGX 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. This fund has managed to produce a robust 14.77% over the last five years.
PGIM Jennison Health Sciences Z (PHSZX) is an attractive large-cap allocation. PHSZX is classified as a Sector - Health fund. Healthcare is one of the biggest sectors of the American economy, and these kinds of mutual funds provide a great opportunity to invest in this industry. PHSZX has an expense ratio of 0.86%, management fee of 0.73%, and annual returns of 11.07% over the past five years.
We hope that your investment advisor (if you use one) has you invested in one or all of the top-ranked mutual funds we've reviewed. But if that isn't the case, it might be time to have a conversation or reconsider this vitally important relationship.
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