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4 Best-Performing Fidelity Mutual Funds of 1H 2023
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Founded in 1946, Fidelity Investments is one of the most trusted investment management companies in the world. Headquartered in Boston, MA, it currently has more than 42 million individual investors who have entrusted their money to them. As of Mar 31, 2023, Fidelity Investmentsheld $11.1 trillion in assets under administration. The company currently employs more than 70,000 associates in nine countries across North America, Europe, Asia and Australia.
Fidelity sells its mutual fund products directly to its clients, which results in zero load charges and offers a large family of mutual funds with an expert fund management team in various asset classes to choose from based on individual risk appetite. In comparison with the broader markets, Fidelity mutual funds have given a commendable performance in the first half of this year. The S&P 500, the Dow and the Nasdaq have given a positive return of 14.35%, 2.77% and 29.22%, respectively, so far this year.
We have thus selected four such fidelity mutual funds that have not only preserved investors’ wealth in the first half but have also generated an excellent return. These funds have the majority of their investments in sectors like Technology, Industrial Cyclical, Non-Durable, Finance, Retail trade and Utilities.
These funds boast a Zacks Mutual Fund Rank #1 (Strong Buy), have positive first-half, three-year, and five-year annualized returns, minimum initial investments within $5000, and carry a low expense ratio. Notably, mutual funds, in general, reduce transaction costs and diversify portfolios without an array of commission charges mostly associated with stock purchases (read more: Mutual Funds: Advantages, Disadvantages, and How They Make Investors Money).
Fidelity Select Semiconductors Portfolio (FSELX - Free Report) invests most of its net assets in common stocks of domestic and foreign companies that are principally engaged in the design, manufacture, or sale of semiconductors and semiconductor equipment. FSELX advisors choose to invest in stocks based on fundamental analysis factors like financial condition and industry position, along with market and economic conditions.
Adam Benjamin has been the lead manager of FSELX since Mar 16, 2020. Most of the fund’s exposure is in companies like NVIDIA (25.56%), NXP Semiconductors (9.15%) and ON Semiconductors (8.21%) as of 2/28/2023.
FSELX’s first-half, three-year and five-year annualized returns are almost 37.8%, 33.3% and 24.7%, respectively. FSELX has a Zacks Mutual Fund Rank #1 and an annual expense ratio of 0.69%, which is less than the category average of 1.05%.
To see how this fund performed compared in its category and other 1, 2, and 3 Ranked Mutual Funds, please click here.
Fidelity Select Technology Portfolio (FSPTX - Free Report) invests primarily in common stocks of domestic and foreign companies that offer, use, or develop products, processes, or services that will benefit significantly from technology advancements. FSPTX uses fundamental analysis techniques like financial condition, industry position as well as market and economic conditions to select investments.
Adam Benjamin has been the lead manager of FSPTX since Jan 18, 2022, and most of the fund’s exposure is in companies like Apple (19.38%), Microsoft (15.44%) and NVIDIA (8.59%) as of 2/28/2023.
FSPTX’sfirst-half, three-year and five-year annualized returns are almost 26.1%, 16.2%, and 16.5%, respectively. FSPTX has a Zacks Mutual Fund Rank #1 and an annual expense ratio of 0.69%, which is less than the category average of 1.05%.
Fidelity Select Communication Services Portfolio (FBMPX - Free Report) invests most of its net assets in common stocks of domestic and foreign companies engaged in the development, production, or distribution of communication services. FBMPX uses fundamental analysis techniques like financial condition, industry position as well as market and economic conditions to select investments.
Matthew Drukker has been the lead manager of FBMPX since Dec 1, 2018, and most of the fund’s exposure is in companies like Meta Platforms (17.81%), Alphabet (18.80%) and Netflix (8.86%) as of 2/28/2023.
FBMPX’s first-half, three-year and five-year annualized returns are almost 20.2%, 7.3% and 6.5%, respectively. FBMPX has a Zacks Mutual Fund Rank #1 and an annual expense ratio of 0.79% compared to the category average of 0.89%.
Fidelity Blue Chip Growth Fund (FBGRX - Free Report) invests most of its net assets in common stocks of domestic and foreign blue-chip companies with large or medium market capitalizations. Blue-chip companies are those which, according to the Fidelity Management & Research Company, are well-known, well-established and well-capitalized. FBGRX uses fundamental analysis techniques like financial condition, industry position as well as market and economic conditions to select investments.
Sonu Kalra has been the lead manager of FBGRX since Jul 1, 2009, and most of the fund’s exposure is in companies like Apple (9.34%), Microsoft (8.01%) and Amazon.com (7.02%) as of 1/31/2023.
FBGRX’s first-half, three-year and five-year annualized returns are almost 16.8%, 12.8% and 14.2%, respectively. FBGRX has a Zacks Mutual Fund Rank #1 and an annual expense ratio of 0.71% compared to the category average of 0.99%.
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4 Best-Performing Fidelity Mutual Funds of 1H 2023
Founded in 1946, Fidelity Investments is one of the most trusted investment management companies in the world. Headquartered in Boston, MA, it currently has more than 42 million individual investors who have entrusted their money to them. As of Mar 31, 2023, Fidelity Investmentsheld $11.1 trillion in assets under administration. The company currently employs more than 70,000 associates in nine countries across North America, Europe, Asia and Australia.
Fidelity sells its mutual fund products directly to its clients, which results in zero load charges and offers a large family of mutual funds with an expert fund management team in various asset classes to choose from based on individual risk appetite. In comparison with the broader markets, Fidelity mutual funds have given a commendable performance in the first half of this year. The S&P 500, the Dow and the Nasdaq have given a positive return of 14.35%, 2.77% and 29.22%, respectively, so far this year.
We have thus selected four such fidelity mutual funds that have not only preserved investors’ wealth in the first half but have also generated an excellent return. These funds have the majority of their investments in sectors like Technology, Industrial Cyclical, Non-Durable, Finance, Retail trade and Utilities.
These funds boast a Zacks Mutual Fund Rank #1 (Strong Buy), have positive first-half, three-year, and five-year annualized returns, minimum initial investments within $5000, and carry a low expense ratio. Notably, mutual funds, in general, reduce transaction costs and diversify portfolios without an array of commission charges mostly associated with stock purchases (read more: Mutual Funds: Advantages, Disadvantages, and How They Make Investors Money).
Fidelity Select Semiconductors Portfolio (FSELX - Free Report) invests most of its net assets in common stocks of domestic and foreign companies that are principally engaged in the design, manufacture, or sale of semiconductors and semiconductor equipment. FSELX advisors choose to invest in stocks based on fundamental analysis factors like financial condition and industry position, along with market and economic conditions.
Adam Benjamin has been the lead manager of FSELX since Mar 16, 2020. Most of the fund’s exposure is in companies like NVIDIA (25.56%), NXP Semiconductors (9.15%) and ON Semiconductors (8.21%) as of 2/28/2023.
FSELX’s first-half, three-year and five-year annualized returns are almost 37.8%, 33.3% and 24.7%, respectively. FSELX has a Zacks Mutual Fund Rank #1 and an annual expense ratio of 0.69%, which is less than the category average of 1.05%.
To see how this fund performed compared in its category and other 1, 2, and 3 Ranked Mutual Funds, please click here.
Fidelity Select Technology Portfolio (FSPTX - Free Report) invests primarily in common stocks of domestic and foreign companies that offer, use, or develop products, processes, or services that will benefit significantly from technology advancements. FSPTX uses fundamental analysis techniques like financial condition, industry position as well as market and economic conditions to select investments.
Adam Benjamin has been the lead manager of FSPTX since Jan 18, 2022, and most of the fund’s exposure is in companies like Apple (19.38%), Microsoft (15.44%) and NVIDIA (8.59%) as of 2/28/2023.
FSPTX’sfirst-half, three-year and five-year annualized returns are almost 26.1%, 16.2%, and 16.5%, respectively. FSPTX has a Zacks Mutual Fund Rank #1 and an annual expense ratio of 0.69%, which is less than the category average of 1.05%.
Fidelity Select Communication Services Portfolio (FBMPX - Free Report) invests most of its net assets in common stocks of domestic and foreign companies engaged in the development, production, or distribution of communication services. FBMPX uses fundamental analysis techniques like financial condition, industry position as well as market and economic conditions to select investments.
Matthew Drukker has been the lead manager of FBMPX since Dec 1, 2018, and most of the fund’s exposure is in companies like Meta Platforms (17.81%), Alphabet (18.80%) and Netflix (8.86%) as of 2/28/2023.
FBMPX’s first-half, three-year and five-year annualized returns are almost 20.2%, 7.3% and 6.5%, respectively. FBMPX has a Zacks Mutual Fund Rank #1 and an annual expense ratio of 0.79% compared to the category average of 0.89%.
Fidelity Blue Chip Growth Fund (FBGRX - Free Report) invests most of its net assets in common stocks of domestic and foreign blue-chip companies with large or medium market capitalizations. Blue-chip companies are those which, according to the Fidelity Management & Research Company, are well-known, well-established and well-capitalized. FBGRX uses fundamental analysis techniques like financial condition, industry position as well as market and economic conditions to select investments.
Sonu Kalra has been the lead manager of FBGRX since Jul 1, 2009, and most of the fund’s exposure is in companies like Apple (9.34%), Microsoft (8.01%) and Amazon.com (7.02%) as of 1/31/2023.
FBGRX’s first-half, three-year and five-year annualized returns are almost 16.8%, 12.8% and 14.2%, respectively. FBGRX has a Zacks Mutual Fund Rank #1 and an annual expense ratio of 0.71% compared to the category average of 0.99%.
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 >>