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4 Best-Performing Mutual Funds of This Year to Keep an Eye On
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Relentless volatility on Wall Street compelled the major indexes like the Dow, the S&P 500 and the Nasdaq to give negative returns of 11.94%, 21.95% and 33.89%, respectively, in the year-to-date period. This is mainly on account of major domestic and international macroeconomic events throughout the year.
Domestically, inflation, which is hovering at a four-decade high, is a concern for both the government and Americans. The Federal Reserve has adopted a hawkish monetary policy stance from the beginning of this year by continuously increasing the interest rate to put a check on inflation.
Investors are, thus, worried about the rising cost of borrowing and the subsequent effects that would cripple the economy and push it toward a recession. Such concerns have undoubtedly, impacted stock market returns.
At the same time, geopolitical issues, especially, the Russia-Ukraine war, resulted in global supply-chain disruptions, which further aggravated volatility in the stock market. On the other hand, oil prices moved northward amid demand-supply disparity, thanks to supply-chain disruptions.
Hence, with the broader stock market primarily declining, it was the energy sector that registered gains. Therefore, we have highlighted four mutual funds, mostly from the energy sector, which have given solid returns so far this year.
By the way, these funds boast a Zacks Mutual Fund Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), have positive year-to-date (YTD), three-year and five-year annualized returns, and minimum initial investments within $5000.
Fidelity Advisor Energy Fund (FANIX - Free Report) invests most of its net assets in common stocks of domestic and foreign companies that are principally engaged in the energy sector including the conventional areas of oil, gas, electricity and coal, and newer sources of energy such as nuclear, geothermal, oil shale, and solar power. FANIX advisors choose to invest in stocks based on fundamental analysis factors like issuer's financial condition, industry position, as well as market and economic conditions.
Maurice FitzMaurice has been the lead manager of FANIX since Jan 1, 2020. Most of the fund’s exposure is in sectors such as energy (86.34%), industrial cyclical (5.64%) and services (3.57%) as of 9/30/2022.
FANIX’s year-to-date (YTD), three-year and five-year annualized returns are nearly 43.1%, 14.5% and 5.1%, respectively. FANIX has a Zacks Mutual Fund Rank #1(Strong Buy) and an annual expense ratio of 0.76%, which is less than the category average of 1.07%.
To see how this fund performed compared in its category, and other 1 and 2 Ranked Mutual Funds, please click here.
Invesco Energy Fund (IENYX - Free Report) invests most of its assets along with borrowings, if any, in common stocks of companies engaged in the energy-related industry. IENYX advisors also invest in derivatives and other instruments with similar economic characteristics.
Kevin C. Holt has been the lead manager of IENYX since Jun 5, 2020, and most of the fund’s exposure is in sectors such as energy (71.10%), industrial cyclical (7.27%) and finance (6.85%) as of 9/30/2022.
IENYX’s year-to-date (YTD), three-year and five-year annualized returns are 29.4%, 13.1% and 1.9%, respectively. IENYX has a Zacks Mutual Fund Rank #3 (Hold) and an annual expense ratio of 1.11%, which is almost equal to the category average of 1.07%.
Victory Global Energy Transition Fund invests most of its net assets in securities of companies that SailingStone Capital Partners LLC and its sub-adviser consider fit for investment. RSNKX advisors mostly invest in companies engaged in natural resources industries anywhere in the world, including the United States.
Mackenzie B. Davis has been the lead manager of RSNKX since Jan 3, 2005, and most of the fund’s exposure is in sectors such as industrial cyclical (45.51%), energy (8.30%) and utilities (4.64%) as of 9/30/2022.
RSNKX’s year-to-date (YTD), three-year and five-year annualized returns are 29.6%, 51.5% and 2.9%, respectively. RSNKX has a Zacks Mutual Fund Rank #2 (Buy) and an annual expense ratio of 1.86%, compared to the category average of 1.11%.
BNY Mellon Natural Resources Fund (DLDRX - Free Report) invests most of its assets, along with borrowings, if any, in stocks of domestic and foreign (including emerging markets) companies in the natural resources and natural resources-related sector, irrespective of its market capitalization. DLDRX advisors generally invest in growth and value stocks.
Albert Chu has been the lead manager of DLDRX since Oct 30, 2019, and most of the fund’s exposure is in sectors such as industrial cyclical (38.46%), energy (38.06%) and non-durables (8.94%) as of 9/30/2022.
DLDRX’s year-to-date (YTD), three-year and five-year annualized returns are 16.5%, 23.2% and 12.1%, respectively. DLDRX has a Zacks Mutual Fund Rank #1 and an annual expense ratio of 0.91% compared to the category average of 1.11%.
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4 Best-Performing Mutual Funds of This Year to Keep an Eye On
Relentless volatility on Wall Street compelled the major indexes like the Dow, the S&P 500 and the Nasdaq to give negative returns of 11.94%, 21.95% and 33.89%, respectively, in the year-to-date period. This is mainly on account of major domestic and international macroeconomic events throughout the year.
Domestically, inflation, which is hovering at a four-decade high, is a concern for both the government and Americans. The Federal Reserve has adopted a hawkish monetary policy stance from the beginning of this year by continuously increasing the interest rate to put a check on inflation.
Investors are, thus, worried about the rising cost of borrowing and the subsequent effects that would cripple the economy and push it toward a recession. Such concerns have undoubtedly, impacted stock market returns.
At the same time, geopolitical issues, especially, the Russia-Ukraine war, resulted in global supply-chain disruptions, which further aggravated volatility in the stock market. On the other hand, oil prices moved northward amid demand-supply disparity, thanks to supply-chain disruptions.
Hence, with the broader stock market primarily declining, it was the energy sector that registered gains. Therefore, we have highlighted four mutual funds, mostly from the energy sector, which have given solid returns so far this year.
Moreover, mutual funds, in general, reduce transaction costs and diversify portfolios without an array of commission charges that are mostly associated with stock purchases (read more: Mutual Funds: Advantages, Disadvantages, and How They Make Investors Money).
By the way, these funds boast a Zacks Mutual Fund Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), have positive year-to-date (YTD), three-year and five-year annualized returns, and minimum initial investments within $5000.
Fidelity Advisor Energy Fund (FANIX - Free Report) invests most of its net assets in common stocks of domestic and foreign companies that are principally engaged in the energy sector including the conventional areas of oil, gas, electricity and coal, and newer sources of energy such as nuclear, geothermal, oil shale, and solar power. FANIX advisors choose to invest in stocks based on fundamental analysis factors like issuer's financial condition, industry position, as well as market and economic conditions.
Maurice FitzMaurice has been the lead manager of FANIX since Jan 1, 2020. Most of the fund’s exposure is in sectors such as energy (86.34%), industrial cyclical (5.64%) and services (3.57%) as of 9/30/2022.
FANIX’s year-to-date (YTD), three-year and five-year annualized returns are nearly 43.1%, 14.5% and 5.1%, respectively. FANIX has a Zacks Mutual Fund Rank #1(Strong Buy) and an annual expense ratio of 0.76%, which is less than the category average of 1.07%.
To see how this fund performed compared in its category, and other 1 and 2 Ranked Mutual Funds, please click here.
Invesco Energy Fund (IENYX - Free Report) invests most of its assets along with borrowings, if any, in common stocks of companies engaged in the energy-related industry. IENYX advisors also invest in derivatives and other instruments with similar economic characteristics.
Kevin C. Holt has been the lead manager of IENYX since Jun 5, 2020, and most of the fund’s exposure is in sectors such as energy (71.10%), industrial cyclical (7.27%) and finance (6.85%) as of 9/30/2022.
IENYX’s year-to-date (YTD), three-year and five-year annualized returns are 29.4%, 13.1% and 1.9%, respectively. IENYX has a Zacks Mutual Fund Rank #3 (Hold) and an annual expense ratio of 1.11%, which is almost equal to the category average of 1.07%.
Victory Global Energy Transition Fund invests most of its net assets in securities of companies that SailingStone Capital Partners LLC and its sub-adviser consider fit for investment. RSNKX advisors mostly invest in companies engaged in natural resources industries anywhere in the world, including the United States.
Mackenzie B. Davis has been the lead manager of RSNKX since Jan 3, 2005, and most of the fund’s exposure is in sectors such as industrial cyclical (45.51%), energy (8.30%) and utilities (4.64%) as of 9/30/2022.
RSNKX’s year-to-date (YTD), three-year and five-year annualized returns are 29.6%, 51.5% and 2.9%, respectively. RSNKX has a Zacks Mutual Fund Rank #2 (Buy) and an annual expense ratio of 1.86%, compared to the category average of 1.11%.
BNY Mellon Natural Resources Fund (DLDRX - Free Report) invests most of its assets, along with borrowings, if any, in stocks of domestic and foreign (including emerging markets) companies in the natural resources and natural resources-related sector, irrespective of its market capitalization. DLDRX advisors generally invest in growth and value stocks.
Albert Chu has been the lead manager of DLDRX since Oct 30, 2019, and most of the fund’s exposure is in sectors such as industrial cyclical (38.46%), energy (38.06%) and non-durables (8.94%) as of 9/30/2022.
DLDRX’s year-to-date (YTD), three-year and five-year annualized returns are 16.5%, 23.2% and 12.1%, respectively. DLDRX has a Zacks Mutual Fund Rank #1 and an annual expense ratio of 0.91% compared to the category average of 1.11%.
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 >>