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, investors can click here to see the complete list of funds.

Waddell & Reed Science & Technology A ( UNSCX - MF report ) invests the majority of its assets in science and technology companies. The fund focuses on investing in mid and small-cap companies but may also invest in larger firms. This technology mutual fund returned 3.4% in the last one year period.

The fund manager is Zachary H. Shafran and he has managed this technology mutual fund since 2001.

ProFunds Technology Ultra Sector ( TEPIX - MF report ) seeks a return identical to 150% of the performance of the Dow Jones U.S Technology Sector Index. The fund invests almost all its assets in a mix of equity securities and derivatives. The non-diversified fund may also invest some part of its assets in money market instruments. This technology mutual fund returned 11.67% in the last one year period.

The technology mutual fund has a minimum initial investment of $15,000 and an expense ratio of 1.72% compared to a category average of 1.60%.

Goldman Sachs Technology Tollkeeper A ( GITAX - MF report ) invests a large share of its assets in equity securities of Tollkeeper companies .These are companies that are positioned to benefit from the proliferation of technology. This technology mutual fund returned -0.45 % in the last one year period.

The fund manager is Jeffrey Rabinowitz and he has managed this technology mutual fund since 2011.

DWS Technology A ( KTCAX - MF report ) seeks capital appreciation. The fund invests the majority of its assets in common stocks of companies in the technology domain. The fund invests in companies regardless of their size or market capitalization. This technology mutual fund returned 5.97% in the last one year period.

As of June 2012, this technology mutual fund held 112 issues, with 18.77% of its total assets invested in Apple, Inc.

Buffalo Science & Technology ( BUFTX - MF report ) primarily invests in common stocks of domestic companies whose securities may gain from advances in science and technology. Not more than 20% of its assets may be invested in ADRs or foreign securities. This technology mutual fund returned 2.44% in the last one year period.

The technology mutual fund has a minimum initial investment of $2,500 and an expense ratio of 1.01% compared to a category average of 1.60%.

To view the Zacks Rank and past performance of all technology mutual funds, investors can click here to see the complete list of funds.

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 at http://www.zacks.com/funds.