Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Investors Business Daily
Investors Business Daily
Business
IBD STAFF

Best Mutual Funds 2024: See The Benchmark-Beating Funds In Every Category

Mutual funds are an important option for meeting your retirement goals or other financial objectives. Choosing the ones that are right for you is the tough part, as about 7,500 are available.

The ninth annual IBD Best Mutual Funds Awards can help you figure out which funds to buy or sell. We looked at all the mutual funds with at least a 10-year track record.

Each award-winning fund had to outperform its benchmark for the past one, three, five and 10 years, showing its ability to outperform in both the short term and long haul.

Among funds at least 10 years old, that's a feat only 16% of eligible funds can claim.

This year, 587 funds qualified for recognition. Diversified stock funds also appear in the relevant investing style (growth or blend) and market capitalization (large-cap, midcap, small-cap) categories. If you don't see funds you own, you might look for new and better options.

The table below shows the top five funds in each category based on 10-year return, except in midcap, small-cap, and index funds, where fewer than five funds were award winners. Also, no value funds qualified.

For more details, see the overview article on our 2023 mutual funds study, or read about the GMO Quality IV Fund — which ranks among the top five funds in each of our Best Mutual Funds categories for Best U.S. Diversified Stock Funds, Best Blend Funds, and Best Large-Cap Funds.

Learn How The Best Funds Beat Their Benchmark, and go inside this Top GMO Quality Fund.

Best U.S. Diversified Stock Mutual Funds

See all 14 of the Best U.S. Diversified Stock Mutual Funds for 2024.

Fund Symbol 1-year total return 3-year average annual return 5-year average annual return 10-year average annual return Morningstar category Annual report net expense ratio
Benchmark: S&P 500 26.29% 10% 15.69% 12.03%
Virtus KAR Small-Cap Core I * PKSFX 32.38 11.96 19.01 14.84 US Fund Mid-Cap Growth 1.0%
Federated Hermes MDT Large Cap Growth IS QILGX 39.62 11.09 20.14 13.92 US Fund Large Growth 0.74
JPMorgan U.S. GARP Equity I JPGSX 42.03 10.45 17.32 13.52 US Fund Large Growth 0.59
GMO Quality IV GQEFX 30.06 11.68 16.82 13.48 US Fund Large Blend 0.45
Elfun Trusts ELFNX 34.49 10.23 17.82 12.89 US Fund Large Growth 0.18

Best Growth Funds

See all seven of the Best Growth Funds for 2024.

Fund Symbol 1-year total return 3-year average annual return 5-year average annual return 10-year average annual return Morningstar category Annual report net expense ratio
Benchmark: S&P 500 26.29% 10% 15.69% 12.03%
Virtus KAR Small-Cap Core I * PKSFX 32.38 11.96 19.01 14.84 US Fund Mid-Cap Growth 1%
Federated Hermes MDT Large Cap Growth IS QILGX 39.62 11.09 20.14 13.92 US Fund Large Growth 0.74
JPMorgan U.S. GARP Equity I JPGSX 42.03 10.45 17.32 13.52 US Fund Large Growth 0.59
Elfun Trusts ELFNX 34.49 10.23 17.82 12.89 US Fund Large Growth 0.18
Needham Aggressive Growth Retail NEAGX 37.65 11.12 24.49 12.78 US Fund Small Growth 1.85

Best Blend Funds

See all seven of the Best Blend Funds for 2024.

Fund Symbol 1-year total return 3-year average annual return 5-year average annual return 10-year average annual return Morningstar category Annual report net expense ratio
Benchmark: S&P 500 26.29% 10% 15.69% 12.03%
GMO Quality IV GQEFX 30.06 11.68 16.82 13.48 US Fund Large Blend 0.45%
Pear Tree Quality Ordinary USBOX 29.22 11.45 16.59 12.82 US Fund Large Blend 1.19
Goldman Sachs Flexible Cap Institutional GILLX 28.36 10.58 16.71 12.47 US Fund Large Blend 0.59
T. Rowe Price U.S. Equity Research PRCOX 29.8 10.49 16.44 12.39 US Fund Large Blend 0.45
JPMorgan US Large Cap Core Plus I JLPSX 29.82 10.98 17.49 12.21 US Fund Large Blend 1.54

Best Large-Cap Funds

See all 12 of the Best Large-Cap Funds for 2024.

Fund Symbol 1-year total return 3-year average annual return 5-year average annual return 10-year average annual return Morningstar category Annual report net expense ratio
Benchmark: S&P 500 26.29% 10% 15.69% 12.03%
Federated Hermes MDT Large Cap Growth IS QILGX 39.62 11.09 20.14 13.92 US Fund Large Growth 0.74%
JPMorgan U.S. GARP Equity I JPGSX 42.03 10.45 17.32 13.52 US Fund Large Growth 0.59
GMO Quality IV GQEFX 30.06 11.68 16.82 13.48 US Fund Large Blend 0.45
Elfun Trusts ELFNX 34.49 10.23 17.82 12.89 US Fund Large Growth 0.18
Pear Tree Quality Ordinary USBOX 29.22 11.45 16.59 12.82 US Fund Large Blend 1.19

Best Midcap Funds

See more on the Best Midcap Fund for 2024.

Fund Symbol 1-year total return 3-year average annual return 5-year average annual return 10-year average annual return Morningstar category Annual report net expense ratio
Benchmark: S&P 500 26.29% 10% 15.69% 12.03%
Virtus KAR Small-Cap Core I * PKSFX 32.38 11.96 19.01 14.84 US Fund Mid-Cap Growth 1%

Best Small-Cap Funds

See more on the Best Small-Cap Fund for 2024.

Fund Symbol 1-year total return 3-year average annual return 5-year average annual return 10-year average annual return Morningstar category Annual report net expense ratio
Benchmark: S&P 500 26.29% 10% 15.69% 12.03%
Needham Aggressive Growth Retail NEAGX 37.65 11.12 24.49 12.78 US Fund Small Growth 1.85%

Best Sector Funds

See all of the Best Sector Funds for 2024.

Fund Symbol 1-year total return 3-year average annual return 5-year average annual return 10-year average annual return Morningstar category Annual report net expense ratio
Benchmark: S&P 500 26.29% 10% 15.69% 12.03%
Select Semiconductors FSELX 78.14 22.5 34.21 25.53 US Fund Technology 0.69%
Fidelity Advisor Semiconductors I FELIX 75.33 21.72 33.66 25.19 US Fund Technology 0.74
Rydex Electronics Inv RYSIX 55.69 13.4 29.59 20.84 US Fund Technology 1.39
Columbia Seligman Global Tech A SHGTX 45.15 11.25 25.49 19.8 US Fund Technology 1.3
Columbia Seligman Tech & Info A SLMCX 44.22 11.27 25.07 19.64 US Fund Technology 1.2

Best International Stock Funds

See all 78 of the Best International Stock Funds for 2024.

Fund Symbol 1-year total return 3-year average annual return 5-year average annual return 10-year average annual return Morningstar category Annual report net expense ratio
Benchmark: MSCI EAFE NR USD 18.24% 4.02% 8.16% 4.28%
Wasatch Emerging India Investor WAINX 20.84 9.15 11.72 14.36 US Fund India Equity 1.5%
Matthews India Investor MINDX 23.1 9.41 8.62 11.65 US Fund India Equity 1.15
Guinness Atkinson Global Innovators Inv IWIRX 39.34 5.99 17.31 11.52 US Fund Global Large-Stock Growth 1.24
Eaton Vance Greater India A ETGIX 20.6 8.11 9.62 10.59 US Fund India Equity 1.57
Victory RS Global Y RGGYX 26.93 8.16 14.16 10.36 US Fund Global Large-Stock Blend 0.6

Best U.S. Taxable Bond Funds

See all 408 of the the Best U.S. Taxable Bond Funds for 2024.

Fund Symbol 1-year total return 3-year average annual return 5-year average annual return 10-year average annual return Morningstar category Annual report net expense ratio
Benchmark: Bloomberg US Agg Bond TR USD 5.53% -3.31% 1.1% 1.81%
North Square Preferred and Income Secs I ORDNX 15.25 8.35 13.25 10.46 US Fund Preferred Stock 0.97%
Franklin Convertible Securities A * FISCX 9.97 -0.2 12.48 9.63 US Fund Convertibles 0.81
Virtus Convertible Inst ANNPX 8.38 -2.45 12.83 9.21 US Fund Convertibles 0.71
Columbia Convertible Securities A PACIX 11.91 -2.24 11.75 8.62 US Fund Convertibles 1.12
Fidelity Convertible Securities FCVSX 11.42 1.26 13.74 7.99 US Fund Convertibles 0.72

Best Municipal Bond Funds

See all 25 of the Best Municipal Bond Funds for 2024.

Fund Symbol 1-year total return 3-year average annual return 5-year average annual return 10-year average annual return Morningstar category Annual report net expense ratio
Benchmark: Bloomberg Municipal TR USD 6.4% -0.4% 2.25% 3.03%
Invesco Rochester Municipal Opps A ORNAX 8.53 -0.19 3.69 5.97 US Fund High Yield Muni 1.3%
Invesco Rochester New York Municipals A RMUNX 9.82 0.05 3.66 5.32 US Fund Muni New York Long 1.14
MainStay MacKay High Yield Muncpl Bd I MMHIX 9.55 0.07 2.88 5.18 US Fund High Yield Muni 0.62
PIMCO High Yield Municipal Bond I PHMIX 8.93 0 3.24 4.88 US Fund High Yield Muni 0.6
BlackRock High Yield Municipal Instl MAYHX 7.1 -0.34 2.63 4.77 US Fund High Yield Muni 0.65

Best International Bond Funds

See all 55 of the Best International Bond Funds for 2024.

Fund Symbol 1-year total return 3-year average annual return 5-year average annual return 10-year average annual return Morningstar category Annual report net expense ratio
Benchmark: Bloomberg Global Aggregate TR USD 5.72% -5.51% -0.32% 0.38%
Eaton Vance Emerging Markets Dbt Opps R6 EELDX 11.46 2.03 6.19 4.57 US Fund Emerging Markets Bond 0.77%
GMO Emerging Country Debt III GMCDX 17.64 -0.95 3.55 4.28 US Fund Emerging Markets Bond 0.54
Voya VACS Series EMCD IMCDX 10.06 -1.05 3.58 4.12 US Fund Emerging Markets Bond 0.1
Franklin Emerging Market Debt Opps FEMDX 15.47 2.25 4.08 3.9 US Fund Emerging Markets Bond 1
Virtus Stone Harbor Emerging Mkts Bond I SHCDX 9.71 -0.44 3.91 3.83 US Fund Emerging Markets Bond 1

Best Index Funds

See more on the Best Index Fund for 2024. 

Fund Symbol 1-year total return 3-year average annual return 5-year average annual return 10-year average annual return Morningstar category Annual report net expense ratio
Benchmark: S&P 500 TR USD 26.29% 10% 15.69% 12.03% Large Blend
Voya Russell Large Cap Growth Idx Port I IRLNX 45.99 10.1 20.21 15.52 US Fund Large Growth 0.43%
Sources: IBD, Morningstar Direct

* Fund is closed to new investors

The 2024 Best Mutual Funds logo and accolades are available for licensing through Investor's Business Daily's partner, The YGS Group. For more information and ordering, please visit www.IBDlicensing.com or call 800-290-5460.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.