Yahoo Finance 3 Top-Ranked Technology Mutual Funds for Outstanding Returns
Technology mutual funds are ideal for investors seeking long-term growth and impressive returns. Improving industry fundamentals and emerging technologies such as AI, ML, robotics, and data science are the key catalysts to the sector’s growth.
In addition, most funds investing in securities from the technology sector take a growth-oriented approach that focuses on companies with strong fundamentals and a relatively better investment prospect. Technology has come to have a broader meaning than just hardware and software. Social media and Internet companies are now part of the technology landscape.
Below, we share with you three technology mutual funds, viz., Fidelity Select Software & IT Services Portfolio FSCSX, Fidelity Select Tech Hardware FDCPX and Matthews Asia Innovators Investor MATFX. Each has a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. Investors can click here to see the complete list of technology funds.
Fidelity Select Software & IT Services Portfolio fund invests most of its net assets in securities of domestic and foreign companies that are principally engaged in research, design, production, or distribution of products or processes that relate to software or information-based services. FSCSX advisors use fundamental analysis factors such as each issuer's financial condition, industry position, as well as market and economic conditions to make an investment decision.
Fidelity Select Software & IT Services Portfolio fund has five-year annualized returns of 19.6%. As of the end of November 2023, FSCSX had 12.40% of its assets invested in Samsung Electronics.
Fidelity Select Tech Hardware fund invests most of its net assets in securities of domestic and foreign companies that are principally engaged in the development, manufacture, or distribution of tech hardware. FDCPX advisors use fundamental analysis factors such as each issuer's financial condition, industry position, as well as market and economic conditions to make an investment decision.
Fidelity Select Tech Hardware fund has five-year annualized returns of 17.4%. FDCPX has an expense ratio of 0.73% compared with the category average of 1.05%.
Matthews Asia Innovators Investor fund invests most of its assets, along with borrowings, if any, in common and preferred stocks of companies located in Asia. MATFX advisors invest in stocks that they believe are innovators in their products, services, processes, business models, management, use of technology, or approach to creating, expanding, or servicing their markets.
Matthews Asia Innovators Investor Fund has five-year annualized returns of 7.2%. Inbok Song has been the fund manager of MATFX since April 2023.
To view the Zacks Rank and the past performance of all Technology Mutual Funds, investors can click here to see the complete list of Technology funds.
Want key mutual fund info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing mutual funds, each week. Get it free >>
View All Zacks #1 Ranked Mutual Funds
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Get Your Free (FSCSX): Fund Analysis Report
Get Your Free (FDCPX): Fund Analysis Report
Get Your Free (MATFX): Fund Analysis Report
