10 best performing mutual funds

The best performing mutual funds this year were those that invest in small-cap companies. But if you don’t find this type of investment attractive, some mutual funds that overperformed in November 2024 invest in growth and tech stocks like Alphabet, Apple and Microsoft or in micro cap companies. Here are some of the best-performing mutual funds of November 2024.

10 best performing mutual funds for 2024

We compared all mutual funds and selected the ones that had the highest year-to-date return. We also looked at a average returns made sure not to use similar funds that offered the same return on investment.

Logo	Mutual fund & ticker	Mutual fund description	YTD return	5 year return	Expense ratio
	Fidelity Series Blue Chip Growth (FSBDX)	FSBDX is a Fidelity fund targeting growth by investing in established, blue-chip companies with strong growth potential.	32.99%	-5.84%	0.01%
	Fidelity NASDAQ Composite Index (FNCMX)	FNCMX is a Fidelity fund mirroring the NASDAQ Composite Index, offering investors diverse exposure to tech-heavy stocks.	24.05%	66.81%	0.37%
	Fidelity Series Growth Company (FCGSX)	FCGSX is a Fidelity fund focused on growth-oriented investments, emphasizing companies with strong potential for capital appreciation.	23.82%	-6.01%	0.00%
	Vanguard Russell 1000 Growth Index I (VRGWX)	VRGWX is a Vanguard fund tracking the Russell 1000 Growth Index, offering investors exposure to growing U.S. companies.	23.13%	82.96%	0.07%
	Fidelity Advisor Series Equity Growth Fund (FMFMX)	FMFMX is a mutual fund that seeks long-term capital appreciation.	17.89%	-0.63%	0.00%
	Fidelity 500 Index (FXAIX)	FXAIX is a Fidelity index fund tracking the S&P 500, offering broad exposure to top U.S. stocks.	10.70%	51.97%	0.02%
	Fidelity Large Cap Stock K6 Fund (FCLKX)	FCLKX is a Fidelity index that focuses on long-term growth by investing in large-cap stocks.	9.73%	1.49%	0.45%
	Schwab Fundamental US Large Company Index Fund (SFLNX)	SFLNX is the Schwab fund that invests in large-cap US stocks based on fundamental factors.	3.58%	22.96%	0.25%
	Fidelity Series Small Cap Discovery Fund (FJACX)	FJACX is a Fidelity index that focuses on growth by investing in small-cap stocks with high potential.	1.13%	-11.52%	0.00%
	Vanguard Windsor Investor Shares (VWNDX)	VWNDX, a Vanguard fund, seeks long-term value by investing in U.S. companies with strong growth potential and undervalued stocks.	0.57%	-9.57%	0.38%

How to invest in the best mutual funds

Investing in mutual funds is as simple as investing in stocks. Here’s how to do it:

1. Find a trading platform.
2. Request access to trade mutual funds. This may be required depending on the platform you choose.
3. Fund your account. Transfer funds into your account so you can begin investing.
4. Search for the mutual fund by its ticker symbol. Example, search for “FXAIX” if you’re looking for the Fidelity 500 Index.
5. Enter the number of shares you want to buy. Decided how many units and at what price.
6. Submit your order. That’s it!

Matt's thoughts on choosing a broker for mutual fund investing

When choosing a broker to invest in mutual funds, first consider which mutual funds you want to invest in. While most brokers that offer mutual funds will offer access to funds from other companies, purchasing a mutual fund through the fund company itself will typically result in fewer fees. So if you want to buy a Fidelity mutual fund, consider purchasing it through Fidelity.

— Matt Miczulski, Editor, Investments.

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3 factors to consider when investing in mutual funds

To find the right mutual fund to invest in, consider the following:

• How long do you plan to hold your investment? Investing in the stock market typically offers solid performance over the long term. If you only intend to hold your investment for a year or two, consider mutual funds that invest in growth or tech sectors because these could provide larger moves in the short term.
• Annual fee. Mutual funds come with an expense ratio, which is an annual fee you pay to the fund. The best-performing mutual funds can cost up to 2.6% annually, meaning it has to earn at least that much to break even. The top mutual funds in November 2024 returned way more than that.
• Risk tolerance. Mutual funds that often have a low risk tend to have lower performance in the long run than high-risk funds. Compare funds based on risk using Morningstar’s rating system. The 5-star funds typically have an excellent performance-to-risk ratio.

Frequently asked questions about the best performing mutual funds

• What are the top 5 performing mutual funds?

  Based on our analysis of YTD returns, these are the top 5 performing mutual funds this year:

  1. Fidelity Series Blue Chip Growth (FSBDX)
  2. Fidelity Series Growth Company (FCGSX)
  3. Fidelity NASDAQ Composite Index (FNCMX)
  4. Vanguard Russell 1000 Growth Index I (VRGWX)
  5. GMO Quality I (GQLIX)

• Which mutual fund gives highest return?

  Based on our analysis of YTD returns, Fidelity Series Blue Chip Growth (FSBDX) currently yields the highest rate of return this year.