4 Best-Performing Fidelity Mutual Funds To Buy in November

Fidelity Investments is considered one of the leaders in the financial services industry with a presence in eight countries across North America, Europe, Asia and Australia, and more than 40,000 associates. The company carries out operations in the United States through 12 regional offices and more than 190 Investor Centers.

Fidelity offers investment advice, discount brokerage services, retirement services, wealth management services, securities execution, and clearance and life insurance products to its clients. It serves more than 32 million individual investors.

At Fidelity, a large group of investment professionals carry out extensive and in-depth research to guide investors on potential investment avenues worldwide. Fidelity had total assets of about $8.3 trillion under management (as of Jun 30, 2020). The company manages over 570 mutual funds across a wide range of categories, including both domestic as well as foreign funds, and equity and fixed income funds.

Fidelity’s Performance So Far

Fidelity Advisor Series Growth Opportunities Fund FAOFX turned up as one of the best-performing mutual funds from the Fidelity family. The fund posted solid gains in the year to date period. FAOFX, which invests a bulk of its assets in common stocks of companies with above-average growth potential, has added 42% so far this year.

Fidelity invests in a variety of sectors that are sensitive, cyclical and defensive. From the sensitive sectors, most investments were made in the technology sector. Among the cyclical sectors, the fund family invested the maximum in the financial services sector, while among the defensive sectors it invested heavily in healthcare.

Technology Select Sector SPDR (XLK) has climbed 32.3% in the YTD period and has remained the best-performing sector so far this year among the 11 S&P 500 sectors.

4 Best Funds to Buy Now

We have highlighted four Fidelity mutual funds carrying a Zacks Mutual Fund Rank #1 (Strong Buy) or 2 (Buy) that are poised to gain from such factors. Moreover, these funds have encouraging three-year and YTD returns. Additionally, the minimum initial investment is within $5000.

We expect these funds to outperform their peers in the future. Remember, the goal of the Zacks Mutual Fund Rank is to guide investors to identify potential winners and losers. Unlike most of the fund-rating systems, the Zacks Mutual Fund Rank is not just focused on past performance, but also on the likely future success of the fund.

The question here is: why should investors consider mutual funds? Reduced transaction costs and diversification of portfolio without several commission charges that are associated with stock purchases are primarily why one should be parking their money in mutual funds (read more: Mutual Funds: Advantages, Disadvantages, and How They Make Investors Money).

Fidelity International Growth Fund FIGFX seeks long-term appreciation of capital and invests primarily in foreign securities, including securities of companies from emerging markets. Moreover, the fund invests in those companies that Fidelity Management & Research Company (FMR) believes have above-average growth potential.

This Zacks Non US-Equity product has a history of positive total returns for more than 10 years. To see how this fund performed compared in its category, and other 1 and 2 Ranked Mutual Funds, please click here.

FIGFX has a Zacks Mutual Fund Rank #1 and an annual expense ratio of 0.99%, which is below the category average of 1.10%. The fund has three-year and YTD returns of 9.6% and 10.6%, respectively.

Fidelity Blue Chip Growth Fund FBGRX seeks capital appreciation. The fund invests the majority of its assets in blue-chip companies. The fund, which focuses primarily on established and well-known companies, invests in securities of both U.S. and non-U.S. issuers.

This Zacks Large Cap Growth product has a history of positive total returns for more than 10 years. To see how this fund performed compared in its category, and other 1 and 2 Ranked Mutual Funds, please click here.

FBGRX has a Zacks Mutual Fund Rank #1 and an annual expense ratio of 0.79%, which is below the category average of 1.05%. The fund has three-year and YTD returns of 26.2% and 22.7%, respectively.

Fidelity Select Software & IT Services Portfolio FSCSX fund invests the majority of its assets in companies whose primary operations are related to software or information-based services. It primarily focuses on acquiring common stocks of both domestic and foreign companies.

This Sector - Tech product has a history of positive total returns for over 10 years. Specifically, the fund's returns over the three-year and YTD benchmarks are 26.8% and 26.3%, respectively. To see how this fund performed compared in its category, and other 1 and 2 Ranked Mutual Funds, please click here.

The fund carries a Zacks Mutual Fund Rank #1 and has an annual expense ratio of 0.71%, which is below the category average of 1.25%.

Fidelity Select Gold Portfolio FSAGX seeks capital appreciation. The fund invests the majority of its assets in securities of companies engaged in exploration, mining, processing, or dealing in gold, and to a lesser degree, in silver, platinum, diamonds, or other precious metals and minerals. FSAGX is a non-diversified mutual fund.

This Zacks Sector-Precious Metal product has a history of positive total returns for more than 10 years. To see how this fund performed compared in its category, and other 1 and 2 Ranked Mutual Funds, please click here.

FSAGX has a Zacks Mutual Fund Rank #2 and an annual expense ratio of 0.79%, which is below the category average of 1.37%. The fund has three-year and YTD returns of 16.5% and 20.5%, respectively.

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 >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Get Your Free (FSCSX): Fund Analysis Report
 
Get Your Free (FSAGX): Fund Analysis Report
 
Get Your Free (FIGFX): Fund Analysis Report
 
Get Your Free (FBGRX): Fund Analysis Report
 
Get Your Free (FAOFX): Fund Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research