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3 Fidelity Mutual Funds That Have Outshined the S&P 500 YTD
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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 currentlyhas more than 43 million individual investors who have entrusted their money in them. As of Jun 30, 2023, Fidelity Investmentsheld $11.7 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 teamin various asset classesto 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.
We have thus selected three such fidelity mutual funds that have outperformed the S&P 500 index in the year-to-date (YTD) period. These funds have not only preserved investors’ wealth but have also generated an excellent return amid uncertain market conditions. These funds have most of their investments in sectors like Technology, Industrial Cyclical, Finance, Retail trade, and others, which are expected to perform well in the future.
These funds boast a Zacks Mutual Fund Rank #1 (Strong Buy), have positive YTD, three-year and five-year annualized returns, and 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 areprincipally 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 15, 2020. Most of the fund’s exposure is in companies like NVIDIA (32.2%), Marvell Technology (8.3%) and NXP Semiconductors (8.1%) as of 5/31/2023.
FSELX’s YTD return is 72.3%, which has easily surpassed the S&P 500’s gain of 17.1%. FSELX’s three-year and five-year annualized returns are almost 35.1% and 29.1%, respectively. FSELX has 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 companiesthat 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 17, 2022, and most of the fund’s exposure is in companies like Apple (18.1%), Microsoft (16.4%) and NVIDIA (11.7%) as of 5/31/2023.
FSPTX’s YTD return is 43.2%. FSPTX’s three-year and five-year annualized returns are 14.3%, and 18.9%, respectively. FSPTX has an annual expense ratio of 0.69%, which is less than the category average of 1.05%.
Fidelity Blue Chip Growth Fund (FBGKX - 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. FBGKX 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 FBGKX since Jun 30, 2009, and most of the fund’s exposure is in companies like Apple (10.2%), Microsoft (9.5%) and NVIDIA (7.6%) as of 4/30/2023.
FBGKX’s YTD return is 36.1%. FBGKX’s three-year and five-year annualized returns are 11.9% and 16.4%, respectively. FBGKX has an annual expense ratio of 0.62% compared to the category average of 0.99%.
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3 Fidelity Mutual Funds That Have Outshined the S&P 500 YTD
Founded in 1946, Fidelity Investments is one of the most trusted investment management companies in the world. Headquartered in Boston, MA, it currentlyhas more than 43 million individual investors who have entrusted their money in them. As of Jun 30, 2023, Fidelity Investmentsheld $11.7 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 teamin various asset classesto 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.
We have thus selected three such fidelity mutual funds that have outperformed the S&P 500 index in the year-to-date (YTD) period. These funds have not only preserved investors’ wealth but have also generated an excellent return amid uncertain market conditions. These funds have most of their investments in sectors like Technology, Industrial Cyclical, Finance, Retail trade, and others, which are expected to perform well in the future.
These funds boast a Zacks Mutual Fund Rank #1 (Strong Buy), have positive YTD, three-year and five-year annualized returns, and 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 areprincipally 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 15, 2020. Most of the fund’s exposure is in companies like NVIDIA (32.2%), Marvell Technology (8.3%) and NXP Semiconductors (8.1%) as of 5/31/2023.
FSELX’s YTD return is 72.3%, which has easily surpassed the S&P 500’s gain of 17.1%. FSELX’s three-year and five-year annualized returns are almost 35.1% and 29.1%, respectively. FSELX has 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 companiesthat 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 17, 2022, and most of the fund’s exposure is in companies like Apple (18.1%), Microsoft (16.4%) and NVIDIA (11.7%) as of 5/31/2023.
FSPTX’s YTD return is 43.2%. FSPTX’s three-year and five-year annualized returns are 14.3%, and 18.9%, respectively. FSPTX has an annual expense ratio of 0.69%, which is less than the category average of 1.05%.
Fidelity Blue Chip Growth Fund (FBGKX - 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. FBGKX 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 FBGKX since Jun 30, 2009, and most of the fund’s exposure is in companies like Apple (10.2%), Microsoft (9.5%) and NVIDIA (7.6%) as of 4/30/2023.
FBGKX’s YTD return is 36.1%. FBGKX’s three-year and five-year annualized returns are 11.9% and 16.4%, respectively. FBGKX has an annual expense ratio of 0.62% 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 >>