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10 best-performing mutual funds for 2023

Compare the top mutual funds in terms of performance, annual fee and Morningstar rating.

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By

Kliment Dukovski

Updated

Fact checked

The best-performing mutual funds this year were those that invest in small-cap companies. But if you don’t find this type of investment attractive, some mutual funds that overperformed in 2023 invest in growth and tech stocks like Alphabet, Apple and Microsoft or in micro cap companies. Here are some of the best-performing mutual funds of 2023.

Top-performing mutual funds for 2023

We compared all mutual funds and selected the ones that had the highest year-to-date return. We also looked at a five-year return and made sure not to use similar funds that offered the same return on investment.

FundSymbol1 year return5-year returnExpense ratioMorningstar rating
Aegis Value IAVALX35.65%14.49%1.50%4 stars
Smead Value YSVFYX31.63%16.52%0.84%5 stars
Invesco Value Opportunities AVVOAX31.14%11.25%1.22%2 stars
EIC Value InstitutionalEICIX29.16%12.68%0.94%4 stars
USAA NASDAQ-100 IndexUSNQX8.66%23.91%0.44%5 stars
William Blair Large Cap Growth NLCGNX11.43%22.87%0.9%5 stars
Eaton Vance Atlanta Capital Focused Gr IEILGX16.58%22.6%0.8%4 stars
Hotchkis & Wiley Large Cap Value IHWLIX28.82%11.75%0.95%3 stars
Federated Hermes Strategic Value Div R6SVALX24.25%8.1%0.79%2 stars
Poplar Forest Partners APFPFX34.23%7.74%1.21%2 stars

3 factors to consider when investing in mutual funds

To find the right mutual fund to invest in, consider the following:

  • How long do you plan to hold your investment? Investing in the stock market typically offers solid performance over the long term. If you only intend to hold your investment for a year or two, consider mutual funds that invest in growth or tech sectors because these could provide larger moves in the short term.
  • Annual fee. Mutual funds come with an expense ratio, which is an annual fee you pay to the fund. The best-performing mutual funds can cost up to 2.6% annually, meaning it has to earn at least that much to break even. The top mutual funds in 2023 returned way more than that.
  • Risk tolerance. Mutual funds that often have a low risk tend to have lower performance in the long run than high-risk funds. Compare funds based on risk using Morningstar’s rating system. The 5-star funds typically have an excellent performance-to-risk ratio.

How to invest in mutual funds

Investing in mutual funds is as simple as investing in stocks. Here’s how to do it:

  1. Find a trading platform that offers access if you don’t have one already.
  2. Request access to trade mutual funds if required.
  3. Fund your account.
  4. Search for the mutual fund by its ticker symbol.
  5. Enter the number of shares you want to buy and at what price.
  6. Submit your order.

Compare trading platforms to invest in mutual funds

1 - 4 of 4
Name Product Available asset types Stock trade fee Minimum deposit Signup bonus
TD Ameritrade
TD Ameritrade
Stocks, Bonds, Options, Mutual funds, ETFs, Currencies, CDs, Futures, Forex, Treasury Bills
$0
or $25 broker-assisted
$0
N/A
TD Ameritrade features $0 commission for online stock trades. Online options fees are $0.65/contract.
Go to site
More Info
TradeStation
TradeStation
Stocks, Bonds, Options, Mutual funds, ETFs, Cryptocurrency
$0
$2,000
Get $50 - $5,000
when you open an account with minimum $5,000 using the promo code TSTVAFYB
A platform built for all kinds of traders and all styles of trading.
Go to site
More Info
Firstrade
Firstrade
Stocks, Bonds, Options, Mutual funds, ETFs
$0
$0
Get up to $200 in transfer fee rebates
when you open an account and transfer at least $2,500 in securities
Firstrade customizable trading platforms let you manage your account and trade from your desktop, iPad or mobile phone.
Go to site
More Info
EOption
EOption
Stocks, Options, Mutual funds, ETFs
$0
$0
N/A
Go to site
More Info
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