Grab These 3 Technology Mutual Funds for Fantastic Returns

Risk takers seeking healthy returns over a fairly long investment horizon may opt for technology mutual funds. The technology sector is believed to be poised for a brighter earnings performance than others, owing to innovation and greater demand. Improving industry fundamentals and emerging technologies — such as wearables, VR headsets, drones, virtual reality devices and artificial intelligence — are the key catalysts for the sector.Meanwhile, most mutual funds investing in securities from these sectors prefer a growth-oriented approach, focusing on companies with strong fundamentals and relatively higher investment prospects. Technology now has broader coverage than just hardware and software companies. Social media and Internet companies are also part of the technology landscape today.Below, we share with you three top-ranked Technology mutual funds, namely T. Rowe Price Science & Tech PRSCX, Fidelity Select Technology FSPTX and Fidelity Advisor Technology Fund FATEX. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. Investors can click here to see the complete list of funds.T. Rowe Price Science & Tech invests in companies expected to benefit from the development and use of science and technology. PRSCX typically invests in U.S.-based common stocks. However, it may also invest in foreign stocks.T. Rowe Price Science & Tech has three-year annualized returns of 10.1%. As of June 2024, PRSCX held 97 issues, with 14.3% of its assets invested in Apple.Fidelity Select Technology aims for capital appreciation by investing the majority of its net assets in common stocks of domestic and foreign companies that benefit significantly from technological advances and improvement. FSPTX uses fundamental analysis, like financial condition, industry position and market conditions to select investments.Fidelity Select Technology has three-year annualized returns of 11.3%. FSPTX has an expense ratio of 0.62% compared to the category average of 1.25%.Fidelity Advisor Technology Fund invests most of its net assets in common stocks of foreign and domestic companies principally engaged in offering, using, or developing products, processes, or services that will provide or will benefit significantly from technological advances and improvements. FATEX advisors choose to invest in stocks based on the fundamental analysis of factors such as each issuer's financial condition, industry position, as well as market and economic conditions.Fidelity Advisor Technology Fund has three-year annualized returns of 11.6%. Adam Benjamin has been one of the fund managers of FATEX since July 2020.To view the Zacks Rank and the past performance of all Technology mutual funds, investors can click here to see the complete list of Technology mutual funds.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 >>5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>View All Zacks #1 Ranked Mutual FundsWant 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 (FSPTX): Fund Analysis Report Get Your Free (PRSCX): Fund Analysis Report Get Your Free (FATEX): Fund Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks