Top 5 #1 Ranked Technology Mutual Funds by Zacks Investment Research
Investors seeking long-term aggressive holdings need not look beyond mutual funds betting on the technology sector. Even though such funds experience relatively higher levels of volatility, they tend to outperform other categories when markets as a whole are seeing an uptrend. Recent results from tech firms have also shown that the sector is gearing up to enter a new era of success and prosperity. Further, fund prices are based on stronger fundamentals compared to their initial boom period, substantially reducing the risk involved.
Below we will share with you 5 top rated technology mutual funds. Each has earned a Zacks #1 Rank (Strong Buy) as we expect these mutual funds to outperform their peers in the future. To view the Zacks Rank and past performance of all technology funds, investors can click here to see the complete list of funds.
ProFunds Internet UltraSector (MUTF:INPSX) seeks to return investment results which are 150% of the daily performance of the Dow Jones Internet Composite index. A large share of the funds assets are utilized to purchase securities which are part of the index or have identical features. This technology mutual fund returned 35.78% in the last one year period.
The fund manager is Hratch Najarian and he has managed this technology mutual fund since 2011.
Kinetics Internet No Load (MUTF:WWWFX) primarily invests in domestic and foreign companies whose primary business operations concern the Internet and Internet-related activities. The fund purchases common stocks, convertible securities, warrants and other equity securities. The technology mutual fund returned 24.98% in the last one year period.
As of December 2012, this technology mutual fund held 78 issues, with 9.29% of its total assets invested in Liberty Media Corporation Class A.
Vanguard Information Technology Index (MUTF:VITAX) seeks to mimic the performance of the MSCI US Investable Market Information Technology 25/50 Index by utilizing an indexing -investment approach. The fund invests almost all its assets in equity securities which are included in the index. This technology mutual fund returned 7.98% in the last one year period.
The technology mutual fund has an expense ratio of 0.14% compared to a category average of 1.60%.
HighMark NYSE ArcaTech 100 Index A (PPTIX) invests in nearly all of the securities which make up the NYSE Arca Tech 100 Index in nearly the same proportion. A minimum of 90% of its assets are invested in securities included in the index. This technology mutual fund returned 16.07% in the last one year period.
The fund manager is Donald J. Nesbitt and he has managed this technology mutual fund since 2009.
Wells Fargo Advantage Specialized Technology A (MUTF:WFSTX) seeks capital growth over the long term. The fund invests the majority of its assets in technology companies. It may utilize at most half of its assets to purchase foreign common stocks and ADRs. A maximum of 25% of its assets can be invested in any single country, Japan being the only exception. This technology mutual fund returned 5.41% in the last one year period.
The technology mutual fund has an expense ratio of 1.70% compared to a category average of 1.60%.
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What Is A Mutual Fund?
An investment instrument that consists of a pool of funds from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments and similar investment assets. Mutual funds are operated by money managers, who invest the fund's capital and attempt to produce capital gains and income for the fund's investors. A mutual fund's portfolio is structured and maintained to match the investment objectives stated in its prospectus.
One of the main benefits of mutual funds is that they provide small investors access to professionally managed, diversified investment portfolios of equities, bonds and other securities, which would be quite difficult if potentially impossible to create with a small amount of capital. Each investors participates proportionally in the gain or loss of the fund. Mutual fund units, or shares, are issued and can typically be purchased or redeemed as needed at the fund's current net asset value (NYSE:NAV) per share, which is sometimes expressed as NAVPS.