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3 Top-Ranked Energy Mutual Funds for Spectacular Returns
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The ongoing war in the Middle East between Israel and the Palestine-based militant group Hamas has affected the global supply chain. Also, the prevailing war between Russia and Ukraine has prompted several governments, including the Biden administration, to impose sanctions on Russian oil and energy. Crude prices have gone up on supply concerns from Russia, which is one of the world’s biggest producers of the commodity. Prices have risen further after the U.S. Government imposed a ban on the import of oil and other energy products.
Geopolitical tensions are likely to keep markets volatile for some time, with the energy sector making the most of the opportunity. So, investing in funds with exposure to energy equities is likely to help in the near term.
Fidelity Advisor Energy Fund invests most of its net assets in domestic and foreign companies that are principally engaged in the energy field, including the conventional areas of oil, gas, electricity and coal, and newer sources of energy such as nuclear, geothermal, oil shale, and solar power. FAGNX advisors choose to invest in companies using fundamental analysis techniques such as the issuer's financial condition, industry position, market and economic conditions.
Fidelity Advisor Energy Fund has three-year annualized returns of 29.9%. As of April 2024, FAGNX held 39 issues, with 24.4% of its assets invested in Exxon Mobil Corporation.
Eagle MLP Strategy Fund invests most of its net assets in master limited partnerships and MLP-related securities. EGLAX advisors also invest in structured notes or options that derive their returns from a basket of MLPs, or other publicly traded partnerships, corporations or limited liability companies.
Eagle MLP Strategy Fund has three-year annualized returns of 27.5%. EGLAX has an expense ratio of 1.13% compared with the category average of 1.66%.
Invesco SteelPath MLP Income Fund invests the majority of its assets, along with borrowings, if any, in master limited partnership investments of companies that are engaged in the transportation, storage, processing, refining, marketing, exploration, production, and mining of minerals and natural resources. MLPDX advisors also invest in derivatives and other instruments that have similar economic characteristics.
Invesco SteelPath MLP Income Fund has three-year annualized returns of 22.2%. Stuart Cartner has been the fund manager of MLPDX since April 2010.
Image: Bigstock
3 Top-Ranked Energy Mutual Funds for Spectacular Returns
The ongoing war in the Middle East between Israel and the Palestine-based militant group Hamas has affected the global supply chain. Also, the prevailing war between Russia and Ukraine has prompted several governments, including the Biden administration, to impose sanctions on Russian oil and energy. Crude prices have gone up on supply concerns from Russia, which is one of the world’s biggest producers of the commodity. Prices have risen further after the U.S. Government imposed a ban on the import of oil and other energy products.
Geopolitical tensions are likely to keep markets volatile for some time, with the energy sector making the most of the opportunity. So, investing in funds with exposure to energy equities is likely to help in the near term.
Below, we share with you three top-ranked energy mutual funds, viz., Fidelity Advisor Energy Fund (FAGNX - Free Report) , Eagle MLP Strategy Fund (EGLAX - Free Report) and Invesco SteelPath MLP Income Fund (MLPDX - Free Report) . 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 energy mutual funds.
Fidelity Advisor Energy Fund invests most of its net assets in domestic and foreign companies that are principally engaged in the energy field, including the conventional areas of oil, gas, electricity and coal, and newer sources of energy such as nuclear, geothermal, oil shale, and solar power. FAGNX advisors choose to invest in companies using fundamental analysis techniques such as the issuer's financial condition, industry position, market and economic conditions.
Fidelity Advisor Energy Fund has three-year annualized returns of 29.9%. As of April 2024, FAGNX held 39 issues, with 24.4% of its assets invested in Exxon Mobil Corporation.
Eagle MLP Strategy Fund invests most of its net assets in master limited partnerships and MLP-related securities. EGLAX advisors also invest in structured notes or options that derive their returns from a basket of MLPs, or other publicly traded partnerships, corporations or limited liability companies.
Eagle MLP Strategy Fund has three-year annualized returns of 27.5%. EGLAX has an expense ratio of 1.13% compared with the category average of 1.66%.
Invesco SteelPath MLP Income Fund invests the majority of its assets, along with borrowings, if any, in master limited partnership investments of companies that are engaged in the transportation, storage, processing, refining, marketing, exploration, production, and mining of minerals and natural resources. MLPDX advisors also invest in derivatives and other instruments that have similar economic characteristics.
Invesco SteelPath MLP Income Fund has three-year annualized returns of 22.2%. Stuart Cartner has been the fund manager of MLPDX since April 2010.
To view the Zacks Rank and the past performance of all energy mutual funds, investors can click here to see the complete list of energy mutual funds.
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