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The Top Ten Mutual Funds Today

Byline profile imageWritten by Alex Silady
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Byline profile imageEdited by Jeff White, CEPF®
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Not everyone has the time or qualifications to pick individual stocks and bonds to invest their hard-earned money in. That’s why mutual funds exist, allowing many investors to pool their money in order for trained fund managers to then purchase portfolios of securities on their behalf. There are many types of mutual fund to choose from, but most investors purchase mutual fund shares from one of the major mutual fund families. These companies offer a wide variety of funds, as well as intangibles like the peace of mind of an established industry name.

For help with your own investments, consider working with an experienced financial advisor.

Data and Methodology

We identified the funds below through exhaustive research and analysis of the mutual fund market. They are listed in an order that’s in direct correlation with their individual composite score based on our methodology, which includes the five-year return of each fund and the total assets under managmenet (AUM) for the fund, as of the date of the last updated date in this article.

1. Fidelity Contrafund (FCNTX)

Fidelity Contrafund (ticker: FCNTX) is one of the largest and most widely recognized actively managed mutual funds in the United States. Managed by Fidelity since 1967, the fund is best known for its focus on large-cap growth companies, particularly those with strong earnings potential and durable competitive advantages. Over the years, Contrafund has built a reputation for delivering consistent long-term performance, attracting both individual investors and institutions. Its size and legacy make it a staple in many retirement accounts and investment portfolios.

The Contrafund primarily invests in companies that the manager believes are undervalued relative to their long-term growth prospects. This has historically meant significant exposure to technology, consumer discretionary and healthcare sectors, with major positions in well-known names like Apple and Microsoft. While its long-term track record is strong, investors should keep in mind that as an actively managed fund with a very large asset base, it may have less flexibility than smaller funds to take bold positions. Still, for those seeking a time-tested mutual fund with broad market exposure and a growth tilt, Fidelity Contrafund remains a compelling option.

2. Vanguard Growth Index Adm (VIGAX)

The Vanguard Growth Index Admiral Shares (VIGAX) is designed for investors seeking broad exposure to large-cap growth companies at a very low cost. As a passively managed index fund, it tracks the CRSP U.S. Large Cap Growth Index, which includes many of the market’s most prominent technology and consumer companies. With an expense ratio that’s a fraction of most actively managed funds, VIGAX appeals to cost-conscious investors who want long-term growth without paying high management fees.

Because it mirrors a broad market index, VIGAX provides instant diversification across hundreds of growth-oriented stocks. Its largest holdings often include household names such as Apple, Microsoft and Amazon, giving investors access to companies driving innovation and market expansion. While growth stocks can be more volatile than value-oriented investments, the fund’s wide spread of holdings helps reduce the risk of relying on a single company’s performance. For investors comfortable with market swings in exchange for long-term appreciation, VIGAX represents a reliable core holding.

3. Vanguard 500 Index Adm (VFIAX)

The Vanguard 500 Index Admiral Shares (VFIAX) is one of the most iconic mutual funds available, offering investors straightforward access to the performance of the S&P 500. By tracking this benchmark index, the fund invests in 500 of the largest U.S. companies across diverse industries, representing roughly three-quarters of the U.S. stock market’s total value. Its broad coverage makes it a foundational choice for investors who want a simple, long-term way to mirror the overall market.

VFIAX is known for its extremely low expense ratio, which ensures that more of an investor’s returns stay in their pocket rather than going toward management fees. Its holdings include many of the country’s most influential companies, such as Apple, Johnson & Johnson and JPMorgan Chase, giving investors exposure to both growth and stability. For those building a balanced portfolio, VFIAX serves as a reliable core holding that has historically delivered steady growth in line with the U.S. market.

4. Fidelity 500 Index (FXAIX)

The Fidelity 500 Index Fund (FXAIX) offers investors an efficient and affordable way to invest in the largest U.S. companies. Like its Vanguard counterpart, FXAIX tracks the S&P 500 Index, which includes leading firms across technology, healthcare, financials and other key sectors. With one of the lowest expense ratios available among index funds, it allows investors to capture the market’s overall performance without the drag of high fees.

FXAIX provides instant diversification across 500 companies, making it a strong candidate for a portfolio’s foundation. Its top holdings often include giants like Microsoft, Apple and Amazon, giving investors exposure to the innovation and stability of blue-chip names. For those seeking steady, long-term growth in line with the broader U.S. economy, the Fidelity 500 Index Fund is a dependable choice that combines simplicity, cost-efficiency and strong historical returns.

5. Schwab S&P 500 Index (SWPPX)

The Schwab S&P 500 Index Fund (SWPPX) is another popular choice for investors who want exposure to the entire U.S. large-cap market. Like other S&P 500 index funds, it holds the 500 largest publicly traded companies in the U.S., spanning sectors from technology and healthcare to consumer goods and finance. What sets SWPPX apart is its ultra-low expense ratio, which makes it especially attractive for cost-conscious investors seeking long-term market growth without sacrificing performance.

SWPPX is designed to be accessible for both new and seasoned investors, with no investment minimums and an easy-to-understand structure. Its diversified portfolio includes well-known names like Alphabet, ExxonMobil and Berkshire Hathaway, ensuring that investors benefit from both growth-oriented and defensive companies. For anyone looking to build a low-maintenance, core holding that keeps pace with the U.S. market, Schwab’s S&P 500 Index Fund is a straightforward and reliable option.

6. Vanguard Total Stock Market Index Adm (VTSAX)

The Vanguard Total Stock Market Index Admiral Shares (VTSAX) is one of the most diversified mutual funds available, giving investors exposure to the entire U.S. stock market. Unlike S&P 500 index funds that focus only on large-cap companies, VTSAX includes small-, mid-, and large-cap stocks across growth and value categories. This broad approach provides a more complete picture of the U.S. economy and reduces reliance on any single sector or company.

VTSAX is also well-known for its very low expense ratio, keeping costs to a minimum while delivering market-wide returns. With thousands of holdings, it gives investors instant diversification in a single fund, making it an ideal core holding for retirement accounts and long-term portfolios. For those who want a simple, low-cost way to invest in the full spectrum of U.S. stocks, VTSAX offers a balance of growth potential and risk management that few funds can match.

7. Fidelity OTC (FOCPX)

The Fidelity OTC Fund (FOCPX) takes a more concentrated approach to growth by investing heavily in companies traded on the Nasdaq, which is known for its strong representation of technology and innovative businesses. This means the fund often holds sizable positions in leaders like Apple, Microsoft and Alphabet, giving investors targeted exposure to sectors driving much of the market’s expansion. Because of its focus, FOCPX has historically delivered higher growth potential compared to broader index funds.

While the fund’s emphasis on technology and growth-oriented companies can be a major strength, it also comes with added volatility. Periods of market turbulence or downturns in the tech sector may have a greater impact on returns compared to more diversified funds. Still, for investors with a higher risk tolerance who want to capture the innovation and momentum of the Nasdaq, Fidelity OTC can be a compelling addition to a growth-focused portfolio.

8. American Funds Growth Fund of America A (AGTHX)

The American Funds Growth Fund of America (AGTHX) is one of the largest actively managed mutual funds in the country, known for its flexible approach to pursuing growth. Rather than sticking strictly to a single sector or market cap, the fund’s managers invest across a wide range of companies they believe have strong long-term potential. This means investors get exposure to both established blue-chip names and promising up-and-comers, creating a dynamic mix that adapts with market conditions.

Managed by a team of seasoned portfolio managers, AGTHX leverages multiple perspectives and investment styles to spread risk while maintaining a focus on growth. Its holdings often include a blend of technology giants, healthcare innovators and consumer-driven businesses, giving it resilience in different market environments. For investors who want the potential upside of active management along with broad diversification, Growth Fund of America offers a well-regarded option with a long track record of performance.

9. Vanguard Value Index Adm (VVIAX)

The Vanguard Value Index Admiral Shares (VVIAX) provides investors with exposure to large-cap U.S. companies that are considered undervalued relative to their fundamentals. By tracking the CRSP U.S. Large Cap Value Index, the fund leans toward sectors like financials, energy and consumer staples, which tend to offer stability and dividend income. This value-oriented approach makes VVIAX appealing for those who want to balance growth holdings with investments that may perform well in slower economic cycles.

Like other Vanguard index funds, VVIAX is known for its low expense ratio, which helps maximize investor returns over time. Its broad portfolio includes established companies such as Johnson & Johnson, JPMorgan Chase and ExxonMobil, giving investors exposure to businesses with consistent earnings and durable competitive advantages. For long-term investors seeking a reliable complement to growth-focused funds, VVIAX delivers diversification and steady potential through a disciplined, value-based strategy.

10. Parnassus Core Equity Investor (PRBLX)

The Parnassus Core Equity Investor Fund (PRBLX) distinguishes itself by combining a traditional large-cap equity strategy with a focus on socially responsible investing. The fund invests primarily in U.S. companies with strong financials and competitive advantages while avoiding businesses that engage in activities such as fossil fuel extraction, tobacco or weapons manufacturing. This values-based approach makes PRBLX a strong fit for investors who want their portfolios to reflect both financial goals and ethical priorities.

PRBLX typically emphasizes high-quality companies that can weather market volatility and generate consistent returns over time. Its holdings often include well-established firms across technology, healthcare and consumer sectors, offering both growth potential and resilience. While the fund’s socially responsible screen limits its investable universe, it has still managed to deliver competitive performance compared to traditional peers. For investors looking to balance returns with responsible investing, PRBLX offers a thoughtful, long-term option.

Bottom Line

Choosing the right mutual fund comes down to balancing cost, diversification and your personal investing goals. The top funds available today range from broad market trackers like the Vanguard 500 Index and Fidelity 500 Index to more specialized options, such as Fidelity OTC or Parnassus Core Equity, which reflect unique strategies or values. Whether you’re seeking growth, value or socially responsible investing, each of these funds offers a way to build long-term wealth.

Tips for Investing

  • Investing takes time and knowledge. A financial advisor can limit how much time you must spend with your investments by managing them for you, and they may have the expertise you need to make the right long-term decisions. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
  • If you’re curious how your investments might possibly grow over time, consider using an investment calculator.

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