Technology has increasingly become an indispensible part of our daily lives and the future prospects of this sector only seem brighter. However, the boom of tech funds in the late nineties and their subsequent downfall during the decline that followed has invoked a certain degree of skepticism even among those bullish on this category. But for investors seeking aggressive growth over the long term, investing in funds that focus on technology and innovation could be a prudent option in times to come.

Below we will share with you the 5 best performing technology mutual funds year to date. To view the Zacks Rank and past performance of all technology funds, then click here.

Firsthand Technology Opportunities ( TEFQX - MF report ) invests a large portion of its assets in companies whose primary operations are related to high technology. The fund selects companies on the basis of their growth potential in their specific sector. It invests in companies of all sizes and may invest in relatively newer companies. It is a no-load fund.

This technology mutual fund returned 27.88% in the last one year period.

RS Technology A ( RSIFX - MF report ) seeks long term capital growth. It invests at least 80% of its assets in equity securities of technology companies. It concentrates on purchasing securities of small and mid-cap companies. The fund invests heavily in domestic companies but may also purchase foreign securities. The technology mutual fund has a five year annualized return of 4.58%.

The fund manager is Stephen Bishop and he has managed this technology mutual fund since 2001.

Jacob Internet ( JAMFX - MF report ) invests the majority of its assets in internet companies and firms in related sectors. The fund focuses on acquiring common stocks and related convertible securities. Not more than 35% of its assets are utilized to purchase debt securities and it may invest substantial amounts in foreign securities. This technology mutual fund returned 14.57% in the last one year period.

As of June 2010, this technology mutual fund held 34 issues, with 8.87% of its total assets invested in Apple, Inc.

ProFunds Internet UltraSector ( INPSX - MF report ) seeks to return investment results which are 150% of the daily performance of the Dow Jones Internet Composite index. A large share of the funds assets are utilized to purchase securities which are part of the index or have identical features. This technology mutual fund returned 32.8% in the last one year period and has a five year annualized return of 2.69%.

The technology mutual fund has an expense ratio of 2.94 % compared to a category average of 1.75%.

Dreyfus Technology Growth A ( DTGRX - MF report ) invests a large portion of its assets in stocks of companies with strong growth potential. These firms must be prominent producers in the technology domain or poised to gain from advancements in this sector. This technology mutual fund returned 19.05% in the last one year period.

The fund manager is Barry Mills and he has managed this technology mutual fund since 2007.

To view the Zacks Rank and past performance of all technology mutual funds, then click here.

About Zacks Mutual Fund Rank

By applying the Zacks Rank to mutual funds, investors can find funds that not only outpaced the market in the past but are also expected to outperform going forward. Learn more about the Zacks Mutual Fund Rank atwww.zacks.com/funds/mutualfund/