Grab These 3 Tech Mutual Funds For Stellar Returns – November 14, 2022

Technology funds are ideal for investors seeking long-term growth and impressive returns. Improving industry fundamentals and new technologies such as AI, ML, robotics and data science are the main catalysts for the growth of the sector.

Additionally, most funds that invest in technology-related securities take a growth-oriented approach that focuses on companies with strong fundamentals and relatively better investment prospects. Technology now has a broader meaning than just hardware and software. Social media and internet companies are part of the technology landscape today.

Below we share with you three top tech mutual funds viz Semiconductor UltraSector ProFund Class of Service (SMPSX free report) Fidelity Select Technology (FSPTX Free report) and Fidelity Select Wireless (FWRLX free report). Each has earned a Zacks Investment Fund Rank #1 (Strong Buy) and is expected to outperform their peers in the future. Investors can click here for the full list of funds.

Semiconductor UltraSector ProFund Class of Service invests in a combination of financial instruments that its fund manager believes will produce daily returns consistent with the fund’s investment objective. SMPSX is an undiversified fund.

Semiconductor UltraSector ProFund, Service Class, has a three-year annualized return of 10.8%. As of July 2022, SMPSX held 33 issues with 16.8% of its assets in Nvidia Corp. were invested.

Fidelity Select Technology seeks capital appreciation by investing the majority of its net assets in the common stocks of domestic and foreign companies that benefit significantly from technological advances and improvements. FSPTX uses fundamental analysis such as financial position, industry position and market conditions to select investments.

Fidelity Select Technology has three-year annualized returns of 13%. FSPTX has an expense ratio of 0.67% compared to the category average of 1.05%.

Fidelity Select Wireless invests the majority of its net assets in the common stocks of foreign and domestic companies principally engaged in activities related to wireless communications services or products. FWRLX advisors make decisions to invest in stocks based on fundamental analysis of factors such as the financial health of each issuer, position in the industry, and market and economic conditions.

Fidelity Select Wireless has a three-year annualized yield of 6.3%. Matthew Drukker has been a fund manager at FWRLX since 2016.

To see the Zacks rank and past performance of all technology mutual funds, investors can click here to view the full list of technology mutual funds.

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