The U.S. economic performance, as indicated through stock markets, shows both resilience and caution. Investors found confidence after the Federal Open Market Committee (FOMC), led by Chairman Jerome Powell, cut the key benchmark interest rate by 25 basis points in two consecutive meetings to support growth. The new target range for the federal funds rate is 3.75-4.00%. However, headwinds like the government data blackout and persistent trade issues have heavily clouded the near-term outlook.

Amid the government shutdown, the Consumer Price Index (CPI) for September was released. Annual inflation rose to 3.0% after advancing 2.9% in August, slightly below expectations and down from a monthly rise of 0.4% in August to 0.3% in September. The Federal Reserve is trying to balance the risks of slowing growth due to persistent inflation and a softening labor market caused by ongoing trade tensions.

Amid such uncertain market conditions, mutual fund investing can help those who wish to diversify their portfolio among various asset classes but lack professional expertise in managing funds. Fidelity mutual funds like Fidelity Select Technology (FSPTX Quick QuoteFSPTX - Free Report) , Fidelity Advisor Gold Fund (FIJDX Quick QuoteFIJDX - Free Report) , Fidelity Series Blue Chip Growth Fund (FSBDX Quick QuoteFSBDX - Free Report) and Fidelity Growth Company (FGKFX Quick QuoteFGKFX - Free Report)  should be good choices since they provide low-cost and uncomplicated equity funds that can help investors meet their goals.

These funds have wide exposure in industries, such as finance, industrial cyclical, utilities, technology and energy. These have not only preserved investors’ wealth but also generated excellent returns.

Why Invest in Fidelity Mutual Funds?

Fidelity mutual funds would be a compelling choice for investors. This is because Fidelity mutual funds have given positive returns in the past and are expected to perform well in the long run.

Headquartered in Boston, MA, Fidelity Investment is one of the oldest and most trusted mutual fund companies in the world. The company was founded in 1946 and had 51.5 million individual investors and $16.4 trillion of assets under administration as of June 30, 2025.

Fidelity Investment has more than 770,00 associates in 11 countries across North America, Europe, Asia and Australia to carry out extensive and in-depth research, and provide potential investment avenues worldwide to their clients.

The company provides best-in-class financial planning, advisory services, retirement planning, wealth management and brokerage services to its clients. Thus, investors who wish to diversify their portfolio among various asset classes but lack professional expertise in managing funds can choose Fidelity mutual funds. Fidelity Investment sells its mutual fund products directly to its clients, which results in a zero-load charge.

We have thus selected four Fidelity mutual funds that boast a Zacks Mutual Fund Rank #1 (Strong Buy), have positive three-year and five-year annualized returns, and minimum initial investments within $5000. The funds carry an expense ratio of less than 1%. 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 Technology fund invests most of its net assets in common stocks of domestic and foreign companies that are principally engaged in offering, using, or developing products, processes, or services that will provide or will benefit significantly from technological advances and improvements. FSPTX chooses to invest in stocks based on fundamental analysis factors such as each issuer's financial condition, industry position, and market and economic conditions.

Adam Benjamin has been the lead manager of FSPTX since Jan. 18, 2022. Most of the fund’s exposure was in companies like NVIDIA (23.2%), Apple (12.9%) and Microsoft (12.8%) as of May. 31, 2025.

FSPTX’s three-year and five-year annualized returns are nearly 39.1% and 18.6%, respectively. FSPTX has an annual expense ratio of 0.62%.

To see how this fund performed compared to its category and other 1, 2, and 3 Ranked Mutual Funds, please click here.

Fidelity Advisor Gold Fund invests the majority of its net assets in common stocks of companies engaged in exploration, mining, processing, of gold, and also silver, platinum, diamonds, or other precious metals and minerals. FIJDX advisors also invest in gold bullions or coins.

Boris Shepov has been the lead manager of FIJDX since Dec. 10, 2024. Most of the fund’s exposure was in companies like Agnico Eagle Mines (11.1%), Franco-Nevada (11.1%) and Wheaton Precious Metal (9.6%) as of May 31, 2025.

FIJDX has three-year and five-year annualized returns of 43.8% and 12.8%, respectively. FIJDX has an annual expense ratio of 0.60%.

Fidelity Series Blue Chip Growth Fund invests most of its net assets in common stocks of blue-chip companies,which generally have large- or medium-market capitalization. FSBDX advisors consider blue-chip companies as those that are well-known, well-established and well-capitalized.

Sonu Kalra has been the lead manager of FSBDX since Nov. 7, 2013. Most of the fund’s exposure was in companies like NVIDIA (16.7%), Microsoft (10.1%) and Amazon.com (8.6%) as of June 31, 2025.

FSBDX’s three-year and five-year annualized returns of 36.6% and 18.2%, respectively. FSBDX has an annual expense ratio of 0.01%.

Fidelity Growth Company fundinvests most of its net assets in common stocks of domestic and foreign companies. FGKFX advisors generally choose to invest in stocks based on fundamental analysis factors like financial condition and industry position, along with market and economic conditions.

Steven S. Wymer has been the lead manager of FGKFX since June 13, 2019. Most of the fund’s exposure was in companies like NVIDIA (16.1%), Apple(6.6%) and Meta Platforms (6.2%) as of May 31, 2025.

FGKFX’s three-year and five-year annualized returns are 36.1% and 18.2%, respectively. FGKFX has an annual expense ratio of 0.45%.

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 >>