Looking for a good growth mutual fund? Zacks Investment Research has some ideas for you.
The firm earlier this month announced five best-performing mutual funds to date.
Zack rated Artisan Growth Opportunity no. 1, with a total return year to date of 17.6%. The fund focuses on investing in equity securities issued by domestic and foreign companies in both mature and emerging markets. It had a three-year annualized return of 32.01%.
No. 2 was Sit Mid Cap Growth, with a year-to-date return of 16%. It seeks to maximize capital growth over the long term by investing in common stocks of domestic growth-oriented small- to mid-cap companies with market caps between $2 billion and $15 billion. It has a three-year annualized return of 28.6%.
The other three funds include:
Fidelity Growth Company, with a 15.9% YTD return. The fund evaluates common stock of domestic and foreign firms by using fundamental analysis and looking at the firm's growth potential. The fund's three-year annualized return was 30.56%.
Chesapeake Core Growth, with a 14.9 YTD return. A minimum of 90% of its assets are utilized to purchase equity securities with a big share invested in the largest 1,000 domestic companies based on market cap. Its three-year annualized return was 20.81%.
Vanguard U.S. Growth, with a 14.7 YTD return. It invests primarily in large-cap domestic companies with significant growth potential. The stocks purchased must be attractively priced relative to projected earnings. It has a three-year annualized return of 24.74%.
For more information on Zack's rankings, click here.