Maximize Your Retirement with Leading Mutual Funds

It's never too late to start investing in mutual funds, a proven way to enhance retirement savings. Picking the right mutual funds may seem daunting, but there are tools and rankings that can help guide investors to make wise decisions for their long-term retirement goals.

Understanding Mutual Fund Rankings

Assessing a mutual fund's quality involves looking at its past performance, how well it spreads risk through diversification, and the cost of owning the fund—its fees. For example, the Zacks Mutual Fund Rank, which evaluates over 19,000 mutual funds, assists investors in locating those with high-performance potential.

Top-Ranked Funds for Retirement Portfolios

Let's delve into a few mutual funds that have earned the Zacks Mutual Fund Rank #1 (Strong Buy) and are noted for their low fees—an important factor for maximizing returns.

For those seeking to diversify their retirement savings, the Voya Growth & Income Portfolio I (IIVGX) is an excellent option. Falling under the Large Cap Blend category, it invests in stable, well-established companies with market capitalizations above $10 billion. With an expense ratio of 0.67%, a management fee of 0.6%, and a remarkable five-year annualized return of 11.96%, IIVGX fits perfectly within a 'buy and hold' investment strategy.

The Fidelity Select Semiconductors (FSELX) fund is another stellar choice. It belongs to the Sector - Tech mutual fund category, investing in the volatile tech sector, yet offering the benefits of diversification. Sporting an expense ratio of 0.69% and a management fee of 0.53%, FSELX has delivered a strong 27.18% return over the past five years.

MFS Mass Investors Growth Stock R1 (MIGMX), with an expense ratio of 1.46% and a management fee of 0.33%, has also yielded a solid five-year annual return of 11.67%. This Large Cap Growth fund focuses on U.S. companies poised for significant growth.

By including these top-ranked mutual funds in your investment strategy, you could significantly enhance the performance of your retirement portfolio.

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