7 Best-Performing Mutual Funds for April 2024 - NerdWallet (2024)

MORE LIKE THISInvestingFunds

When shopping for mutual funds, we naturally are curious: Which ones are performing the best today?

While that’s a common place to begin your search, remember you’re shopping for tomorrow when looking for the best mutual funds. Top performers in the short term don’t always become long-term winners. The best mutual funds for your portfolio won’t necessarily be the best for your parents, your siblings or your neighbors.

» Looking to fund an IRA before tax day? See our picks for best IRA accounts.

Best-performing U.S. equity mutual funds

To determine the best mutual funds measured by five-year returns, we looked at U.S. equity funds open to new investors with low costs (expense ratios of 1% or less) and minimum investment requirements of $3,000 or less.

For more on how to choose a mutual fund, skip ahead to this section.



5-year return (%)


State Street US Core Equity Fund



Payson Total Return



Fidelity Mega Cap Stock



BlackRock Exchange BlackRock



Pear Tree Quality Ordinary



Fidelity Series Large Cap Stock



T. Rowe Price U.S. Equity Research


Source: Morningstar. Data is current as of market close on March 29, 2024 and is for informational purposes only.


Charles Schwab
Interactive Brokers IBKR Lite
J.P. Morgan Self-Directed Investing

NerdWallet rating


NerdWallet rating


NerdWallet rating




per online equity trade



per trade



per trade

Account minimum


Account minimum


Account minimum




no promotion available at this time



no promotion available at this time


Get up to $700

when you open and fund a J.P. Morgan Self-Directed Investing account with qualifying new money.

Learn More
Learn More
Learn More

How to choose the best mutual funds for you

Mutual funds combine investors' money to purchase investments. Mutual funds create a more diversified portfolio than most investors can on their own. "Mutual funds" as a category includes index funds, exchange-traded funds, bond funds and target-date funds. Mutual fund investors don’t personally own the stock or other investments held by the fund, but they do share equally in the profits or losses of the fund’s total holdings.

Many experts recommend investing through mutual funds, especially index funds, which passively track a market index such as the S&P 500. The mutual funds above are actively managed, which means they try to beat stock market performance — a strategy that often fails.

» Ready to invest? Here's our picks for best brokerages for mutual funds.

When you're ready to invest, here's what to consider:

  • Decide whether to invest in active or passive funds, knowing that both performance and costs often favor passive investing.

  • Understand and scrutinize fees. A broker that offers no-transaction-fee mutual funds can help cut costs.

  • Build and manage your portfolio, checking in on and rebalancing your mix of assets once a year.

» Learn more: How to invest in mutual funds

Average mutual fund return

Managing your portfolio also means managing your expectations, and different types of mutual funds should bring different expectations for returns.

For actively managed investments, particularly those with higher fees, it is difficult to consistently beat the index. In fact, it rarely happens. Most investors would be better served with a passive investment strategy. Some investors may be best served by a combination of exchange-traded funds and mutual funds that incorporate large, mid, and small cap stocks as well as international and emerging markets.

Depending on your risk tolerance, you may want to explore bond ETFs as well. But you should always do your homework to explore which investments will make the most sense for your portfolio.

Stock mutual funds = higher potential returns (or losses)

Stock mutual funds, also known as equity mutual funds, carry the highest potential rewards, but also higher inherent risks — and different categories of stock mutual funds carry different risks.

» Related: Best performing stocks this month

For example, the performance of large-cap high-growth funds is typically more volatile than, say, stock index funds that seek only to match the returns of a benchmark index like the S&P 500. (Learn more about stock mutual funds versus index funds.)

» Related: 25 best performing high-dividend ETFs

Bond mutual funds = lower returns (but lower risk)

Bond mutual funds, as the name suggests, invests in a range of bonds and provide a more stable rate of return than stock funds. As a result, potential average returns are lower.

Bond investors buy government and corporate debt for a set repayment period and interest rate. While no one can predict future stock market returns, bonds are considered a safer investment as governments and companies typically pay back their debt (unless either goes bust).

Money market mutual funds = lowest returns, lowest risk

These are fixed-income mutual funds that invest in top-quality, short-term debt. They are considered one of the safest investments you can make. Money market funds are used by investors who want to protect their retirement savings but still earn some interest — often between 1% and 3% a year. (Learn more about money market funds.)

Mutual fund fees

Even if you find a low-cost mutual fund, you'll still have to pay some fees. Here are some to look out for:

  • Management fees: Also known as "expense ratios," these cover the cost to pay fund managers and investment advisors.

    See Also
    Mutual Funds

  • 12b-1 fees: Capped at 1%, these fees pay for the cost of marketing and selling the fund and other shareholder services.

  • Other expenses: These may include custodial, legal, accounting, transfer agent expenses and other administrative costs.

The total annual fund operating expenses are expressed as a percentage of the fund's net average assets.

» How do fees impact returns? This mutual fund calculator can help

Track your finances all in one place

Find ways to save more by tracking your income and net worth on NerdWallet.

Sign Up

7 Best-Performing Mutual Funds for April 2024 - NerdWallet (4)

Can you lose money in mutual funds?

Yes, as with all investments, it is possible to lose money in mutual funds. But if you invest in well-diversified mutual funds with a long investment timeframe, you'll likely benefit from compound interest and grow your money over time.

The bottom line

Chasing past performance may be a natural instinct, but it often isn't the right one when placing bets on your financial future. Mutual funds are the cornerstone of buy-and-hold and other retirement investment strategies.

Likewise, chasing one-year returns is not a wise investment strategy. It's a good rule of thumb to look for consistency of returns on a longer time horizon. It would be wise to look at the three, five, and 10 year returns to get a sense of a longer track record.

Hopping from stock to stock based on performance is a rear-view-mirror tactic that rarely leads to big profits. That's especially true with mutual funds, where each transaction may bring costs that erode any long-term gains.

What's important to consider is the role any mutual fund you buy will play in your total portfolio. Mutual funds are inherently diversified, as they invest in a collection of companies (rather than buying stock in just one). That diversity helps spread your risk.

You can create a smart, diversified portfolio with just a few well-chosen mutual funds or exchange-traded funds, plus annual check-ins to fine-tune your investment mix.

Frequently asked questions

Will I owe on taxes on mutual funds I own?

Not if you hold them in a tax-advantaged account like a 401(k). Otherwise, selling a mutual fund, or receiving a distribution from one, may generate tax liability. For more information, check out our article about taxes on mutual funds.

What's the difference between mutual funds and ETFs?

One difference is that mutual funds only change price once a day, while exchange-traded funds (ETFs) trade throughout the day like stocks. You can learn more about the differences between ETFs and mutual funds here.

Neither the author nor editor held positions in the aforementioned investments at the time of publication.

7 Best-Performing Mutual Funds for April 2024 - NerdWallet (2024)


7 Best-Performing Mutual Funds for April 2024 - NerdWallet? ›

Look at the benchmarks of funds and how they have performed in comparison to them. Check your chosen funds' performance against other similar funds. You can look at their historical returns, ratios, debt profile, management and more to make your judgements.

What are the best mutual funds to invest in 2024? ›

  • NFO of Canara Robeco Multicap Fund.
  • Quant MF.
  • Johnny Depp Case Settlement.
  • HDFC Defence Fund.
  • Consumption fund.
  • mutual funds Investment 2023.
  • Mutual funds investment.
  • small cap funds.
1 day ago

What are the top 5 performing mutual funds? ›

Summary: Best Mutual Funds
Fund (ticker)10-Year Avg. Ann. Return
Shelton Nasdaq-100 Index Investor Fund (NASDX)18.21%
Schwab Fundamental US Large Company Index Fund (SFLNX)11.71%
Fidelity Intermediate Municipal Income Fund (FLTMX)2.28%
Dodge & Cox Income (DODIX)2.52%
6 more rows
Apr 1, 2024

How do I find the best performing mutual funds? ›

Look at the benchmarks of funds and how they have performed in comparison to them. Check your chosen funds' performance against other similar funds. You can look at their historical returns, ratios, debt profile, management and more to make your judgements.

Which mutual fund has the highest 5 year return? ›

List of High Risk & High Returns in India Ranked by Last 5 Year Returns
  • Mirae Asset Midcap Fund. EQUITY Mid Cap. ...
  • Kotak Emerging Equity Fund. EQUITY Mid Cap. ...
  • PGIM India Midcap Opportunities Fund. EQUITY Mid Cap. ...
  • Nippon India Small Cap Fund. ...
  • Nippon India Growth Fund. ...
  • Kotak Small Cap Fund. ...
  • HDFC Small Cap Fund. ...
  • Edelweiss Mid Cap Fund.

What is the most successful mutual fund? ›

Best-performing U.S. equity mutual funds
TickerName5-year return (%)
STSEXBlackRock Exchange BlackRock16.27%
USBOXPear Tree Quality Ordinary16.13%
FGLGXFidelity Series Large Cap Stock16.08%
PRCOXT. Rowe Price U.S. Equity Research16%
3 more rows
Mar 29, 2024

Which mutual fund to invest for next 5 years? ›

Best SIP Plans for 5 Years to invest (Hybrid)
FundAUM (In Crs)Expense Ratio
Quant Absolute Fund Growth Option Direct Plan₹1869 Cr0.83 %
Edelweiss Aggressive Hybrid Direct Plan Growth Option₹1440 Cr0.24 %
UTI Aggressive Hybrid Fund-Growth - Direct₹5306 Cr1.32 %
2 more rows

What mutual funds does Dave Ramsey invest in? ›

I put my personal 401(k) and a lot of my mutual fund investing in four types of mutual funds: growth, growth and income, aggressive growth, and international. I personally spread mine in 25% of those four.

What is the best mutual fund for retirees? ›

  • The Best Retirement Income Funds of April 2024.
  • American Funds Tax-Aware Conservative Growth and Income Portfolio (TAIFX)
  • Schwab Balanced Fund (SWOBX)
  • Vanguard Wellington Fund (VWELX)
  • Dodge and Cox Income Fund (DODIX)
  • PGIM High Yield Fund (PHYZX)
  • T. ...
  • Schwab International Index Fund (SWISX)
Apr 2, 2024

Which mutual fund is performing well now? ›

List of Long Duration Duration Mutual Funds in India
Fund NameCategory1Y Returns
SBI Long Term Equity FundEquity60.6%
ICICI Prudential Large & Mid Cap FundEquity47.8%
Bandhan Tax Advantage (ELSS) FundEquity16.8%
Motilal Oswal Large and Midcap FundEquity56.6%
12 more rows

How do you check if a mutual fund is doing well? ›

Analyzing Mutual Fund Performance
  1. Analyse Fund Performance vs Benchmark Performance.
  2. Check the Expense Ratio of Funds.
  3. Study Fund History.
  4. Check the Strength of the Portfolio.
  5. Check Portfolio Turnover Ratio (PTR)
  6. Compare The Maturity Period of Funds.
  7. Compare Risk-Adjusted Returns.
Sep 6, 2023

Which is safest mutual fund? ›

Top 10 Low Risk Mutual Funds to Buy in the Share Market in India...
  • Bank of India Overnight Fund.
  • Mirae Asset Overnight Fund.
  • Axis Overnight Fund.
  • Kotak Equity Arbitrage Fund.
  • Tata Arbitrage Fund.
  • Nippon India Arbitrage Fund.
  • Axis Arbitrage Fund.
  • Aditya Birla Sun Life Arbitrage Fund.
Mar 7, 2024

Which mutual fund gives highest return in 1 year? ›

What are large cap mutual funds?
Large Cap funds1-year-return (%)
Quant Large Cap Fund56.31
Bank of India Bluechip Fund49.09
JM Large Cap Fund47.09
Nippon India Large Cap Fund46.42
4 more rows
Apr 8, 2024

Which mutual fund is best for 7 years? ›

SchemeScheme returns
3 Years7 Years
Bandhan ELSS Tax Saver Fund22.70%16.48%
Bandhan Sterling Value Fund26.97%16.18%
Bank of India ELSS Tax Saver24.92%19.59%
22 more rows
1 day ago

What if I invest $1,000 in mutual funds for 10 years? ›

(You must convert the rate of return to the monthly figure through dividing by 12). You also have n = 10 years or 120 months. FV = Rs 1,84,170. So, the future value of a SIP investment of Rs 1,000 per month for 10 years at an estimated rate of return of 8% is Rs 1,84,170.

Which mutual fund is safe and highest return? ›

  • Quant Mid Cap Fund Growth Option Direct Plan. ...
  • Nippon India Small Cap Fund - Direct Plan - Growth Plan. ...
  • HSBC Small Cap Fund Fund Direct Growth. ...
  • Tata Small Cap Fund Direct Growth. ...
  • ICICI Prudential Dividend Yield Equity Fund Direct Growth. ...
  • SBI Contra Fund Direct Growth. ...
  • HDFC Small Cap Fund-Direct Growth Option.

Which mutual fund is best in future? ›

Here's the list of top 10 best mutual funds to invest in 2024:
  • ICICI Pru Bluechip Fund.
  • HDFC Flexi Cap Fund.
  • Nippon India Small Cap Fund.
  • HDFC Balanced Advantage Fund.
  • ICICI Prudential Equity & Debt Fund.
  • ICICI Prudential Corporate Bond Fund.
  • ICICI Prudential Short Term Fund.
  • LIC MF Gold ETF FoF.

Top Articles
Latest Posts
Article information

Author: Dr. Pierre Goyette

Last Updated:

Views: 5430

Rating: 5 / 5 (70 voted)

Reviews: 93% of readers found this page helpful

Author information

Name: Dr. Pierre Goyette

Birthday: 1998-01-29

Address: Apt. 611 3357 Yong Plain, West Audra, IL 70053

Phone: +5819954278378

Job: Construction Director

Hobby: Embroidery, Creative writing, Shopping, Driving, Stand-up comedy, Coffee roasting, Scrapbooking

Introduction: My name is Dr. Pierre Goyette, I am a enchanting, powerful, jolly, rich, graceful, colorful, zany person who loves writing and wants to share my knowledge and understanding with you.