Wells Fargo Advantage Funds managed more than $466 billion of assets as of Dec 31, 2018 from diverse mutual funds categories. The fund family manages a wide variety of mutual funds from domestic and foreign funds to money market funds, asset allocation funds and fixed-income funds. The Wells Fargo Fund family claims that it offers “funds in every key category, each guided by professional investment teams that have been chosen because of their proven, time-tested strategies.” The team also helps investors to clarify their investment ideas and identifies their “risk tolerance.”
Additionally, the owner of the Wells Fargo Advantage Funds brand, Wells Fargo, is one of the top four banks in the United States and has been maintaining its standard in the financial services sector for more than 150 years. It is a highly diversified financial services company with operations limited not only to the domestic market.
Below we share with you four top-ranked Wells Fargo Advantage Funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. To view the Zacks Rank and past performance of all Wells Fargo Advantage Funds, investors can click here to see the complete list of Wells Fargo Advantage Funds.
Wells Fargo Intermediate Tax/AMT-Fr A WFTAX seeks appreciation of current income exempt from federal income tax. The fund invests the lion’s share of its assets in municipal securities, the interest earned from which is exempt from federal income tax, including federal alternative minimum tax (AMT). The fund may also invest about 15% of its assets in below investment-grade municipal securities.Wells Fargo Intermediate Tax/AMT-Fr Ahas three-year annualized returns of 1.6%.
WFTAXhas an expense ratio of 0.70% compared with the category average of 0.76%.
Wells Fargo Precious Metals Inst EKWYX seeks appreciation of capital in the long run. The fund invests the lion’s share of its assets in investments, which are related to precious metals. This apart, the fund invests about 40% of its assets in equity securities from emerging markets. EKWYX also invests about one-fourth of its assets in debt securities related to precious metals as well as common or preferred stocks of subsidiaries of the fund that invest in precious metals and minerals. Wells Fargo Precious Metals Inst has three-year annualized returns of 4%.
As of January 2019, EKWYX held 36 issues with 8.92% of its assets invested in Barrick Gold Corp.
Wells Fargo CoreBuilder Shares Series M WFCMX seeks maximization of returns through growth of income and capital. WFCMX invests more than 60% of its assets in municipal securities, which offer federal income tax exempted interest. Wells Fargo CoreBuilder Shares Series M has three-year annualized returns of 3.3%.
Robert J. Miller is one of the fund managers of WFCMX since 2008.
Wells Fargo Advantage Core Bond A MBFAX seeks total returns through growth of capital and income. MBFAX invests the majority of its assets in bonds that are rated investment-grade. MBFAX may invest a maximum of a quarter of its assets in asset-backed securities, which are not from the mortgage-backed category. Not more than one-fifth of MBFAX’s assets are expected to be invested in foreign debt securities that are denominated in dollar. Wells Fargo Advantage Core Bond A has a three-year annualized return of 1.3%.
As of January 2019, MBFAX held 831 issues with 2.47% of its assets invested in UnitedStatesTreasury Notes 2%.
To view the Zacks Rank and past performance of all Wells Fargo Advantage Funds, investors can click here to see the complete list of funds.
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