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5 Top Fidelity Mutual Funds to Own

Whether you're looking for growth or income, Fidelity offers a number of five-star funds suitable for most investors

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5 Top Fidelity Mutual Funds to Own

Top Fidelity Mutual Funds – Fidelity New Millennium Fund (FMILX)

Fidelity New Millenium Fund FMILX 292x300 5 Top Fidelity Mutual Funds to Own
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Fund type:
Large-cap domestic fund

Not only is the Fidelity New Millennium Fund (FMILX) rated five stars by Morningstar over the past five years, but also has just been named one of Kiplinger’s top 25 no-load mutual funds for 2014.

It’s easy to see why so many like it. FMILX’s performance over the past five years is a dynamite 21.6% on an annualized basis, 244 and 397 basis points higher than the S&P 500 and its large-cap growth fund peers, respectively.

As Fidelity mutual funds go, this is one of the best.

The fund’s expense ratio of 0.91% is considered below average for its peer group. Meanwhile, FMILX turns the portfolio completely once every two years, which I consider slightly below average for large-cap mutual funds.

The $3.4 billion in total net assets is invested in 196 stocks, with the top 10 representing just 21% of the portfolio. The top five are split between banks and tech — Microsoft (MSFT), IBM (IBM), JPMorgan Chase (JPM), Wells Fargo (WFC) and Google (GOOG) have earned the fund’s heaviest weights.

Fidelity New Millennium is 22 years old; John Roth, who manages a number of Fidelity funds, has been running this particular fund since July 2006.

Recognition by the likes of Kiplinger is a sure sign he knows what he’s doing.

Check out more on the Fidelity New Millennium Fund here.


Article printed from InvestorPlace Media, http://investorplace.com/2014/05/5-top-fidelity-mutual-funds/.

©2014 InvestorPlace Media, LLC

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