11 Best Fidelity Mutual Funds To Invest In for 2024

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Fidelity has a long history with mutual funds, tracing its roots back more than 70 years when it was founded as Fidelity Management & Research Co. Today, Fidelity employs more than 350 researchers worldwide and offers over 250 mutual funds that together cover thousands of stocks.

Check Out: 5 Genius Things All Wealthy People Do With Their Money

What Are the Best Fidelity Mutual Funds?

Here are the 11 best Fidelity mutual funds for 2024:

The top Fidelity mutual funds represent a wide range of companies and feature consistent performance and billions in assets.

1. Fidelity Blue Chip Growth K6 Fund (FBCGX)

One of the best Fidelity mutual funds for long-term growth, FBCGX focuses on well-known and established companies with above-average growth potential. The fund also has a low expense ratio, which means you won’t lose much in fees.

• Dividend yield: 0.22%
• Expense ratio: 0.46%
• Asset size: $14.5 billion
• Year-to-date return: 10.32%

This fund’s major holdings include Apple, Microsoft, Nvidia, Amazon and Alphabet. It’s a popular choice in retirement plans.

2. Fidelity Fund (FFIDX)

Established in 1930 by Fidelity founder Edward C. Johnson, FFIDX is still strong enough to be one of the best Fidelity mutual funds for 2024. It’s actively managed and heavily invested in companies with a history of consistent growth, with a focus on long-term growth.

• Dividend yield: 0.58%
• Expense ratio: 0.42%
• Asset size: $7.73 billion
• Year-to-date return: 9.48%

The fund’s top holdings include Apple, Microsoft, Alphabet and UnitedHealth Group.

3. Fidelity Contrafund (FCNTX)

The investment philosophy of this fund is to find companies with prospects that are brighter than reflected in their stock prices. By researching companies and buying them before the rest of the market realizes their potential, this growth fund seeks high capital returns for investors.

• Dividend yield: 0.43%
• Expense ratio: 0.39%
• Asset size: $135.9 billion
• Year-to-date return: 14.87%

This actively managed fund is one of the best Fidelity mutual funds to buy now, and it’s been overseen by the same manager for over 30 years. Its holdings include Meta, Berkshire Hathaway, Microsoft and Amazon.

4. Fidelity Low-Priced Stock Fund (FLPSX)

One of the best-performing Fidelity mutual funds over the past three years, FLPSX focuses on stocks priced below $35 with an annual yield that equals or exceeds the median yield for the Russell 2000 Index of small- and medium-sized companies. The fund has earned a five-star Morningstar rating and has an average annual return of 8.47% over three years.

• Dividend yield: 1.87%
• Expense ratio: 0.89%
• Asset size: $28.57 billion
• Year-to-date return: 2.75%

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This being a small/mid-cap fund, you won’t find as many blue chips among its top holdings as you see with large-cap funds. However, top holdings do include solid performers like UnitedHealth Group and AutoZone. 

5. Fidelity Select Health Care Portfolio (FSPHX)

Employment of healthcare workers is expected to grow faster than any other occupational group this decade, according to the Bureau of Labor Statistics. That means this could be one of the best mutual funds to invest in for 2024. It’s an actively managed fund that has been under the same management for over a decade, and over the life of the fund has outperformed its benchmark.

• Dividend yield: 0.00%
• Expense ratio: 0.65%
• Asset size: $7.91 billion
• Year-to-date return: 0.56%

This fund has holdings in some of the biggest names in healthcare, including UnitedHealth Group, Boston Scientific, Eli Lilly and Humana.

6. Fidelity Large Cap Growth Index Fund (FSPGX)

Expense ratios can eat into your earnings over time. This Fidelity fund offers a low 0.035% expense ratio, which means more money for you. The goal of the fund is to mimic the returns of the Russell 1000 Growth Index, which measures large-cap growth stocks. That means it’s not actively managed like other funds, but the trade-off might be worthwhile if you’re looking to save.

• Dividend yield: 0.66%
• Expense ratio: 0.035%
• Asset size: $22.73 billion
• Year-to-date return: 7.12%

This fund’s holdings include Apple, Microsoft, Amazon, Nvidia and Alphabet.

7. Fidelity Balanced Fund (FBALX)

While no mutual fund is risk-free, one of the safer Fidelity funds is this balanced fund, which carries average risk but generates high returns. About 63% of its holdings are in stocks, with the rest in bonds and other debt securities. It has an average annual return over three years of 6.46%, low expenses and a five-star Morningstar rating.

• Dividend yield: 2.18%
• Expense ratio: 0.47%
• Asset size: $45.89 billion
• Year-to-date return: 3.55%

This fund has holdings in Microsoft, Apple, Amazon and Nvidia.

8. Fidelity Small Cap Value Fund (FCPVX)

The Fidelity Small Cap Value Fund invests in some of the smallest companies on the market, all of which have a capitalization below $2 billion. Stocks selected are ones that fund managers believe are undervalued. The fund is almost exclusively domestic, with only 6.69% devoted to international holdings. About 27% of the fund’s holdings are in financial stocks, with roughly 16% in industrials. The Fidelity Small Cap Value Fund has an average annual return of 12.75% over the past five years.

• Dividend yield: 0.60%
• Expense ratio: 1%
• Asset size: $5.02 billion
• Year-to-date return: -2.07%

Most of the stocks owned by the fund are not exactly household names. Top holdings include Owens & Minor, Insight Enterprises, US Foods Holding Corp. and Brookfield Infrastructure.

9. Fidelity Trend Fund (FTRNX)

The Fidelity Trend Fund is a large-cap growth fund with all equities having market values of greater than $10 billion. The fund has very low expenses and good performance, posting average annual returns of 18.99% per year over the past five years. The fund is not for the faint of heart, however, as it buys winning stocks at high prices, anticipating they will continue to go higher. This style of investing is known as momentum investing, colloquially dubbed “buy high, sell higher.” The Fidelity Trend Fund carries a beta of 1.12, meaning it is 12% more volatile than the overall market.

• Dividend yield: 0.04%
• Expense ratio: 0.49%
• Asset size: $3.3 billion
• Year-to-date return: 15.83%

The top six holdings in this fund, comprising roughly 44% of the entire portfolio, are household names to growth investors: Microsoft, Nvidia, Amazon, Meta Platforms, Alphabet and Apple.

10. Fidelity Growth Discovery Fund (FDSVX)

The Fidelity Growth Discovery Fund is a large-cap growth fund that is heavily weighted toward technology, which comprises 38.74% of the entire portfolio. The fund also has a 13.03% allocation to international stocks. Morningstar assigns a five-star rating to the fund, saying that it offers above-average returns for below-average risk within its category. Returns have been solid and consistent, reaching 19.23% annually over the past five years and 15.84% over the past 10.

• Dividend yield: 0.05%
• Expense ratio: 0.67%
• Asset size: $5.39 billion
• Year-to-date return: 11.6%

The top holdings in this fund are among the most well known in America, including Microsoft, Nvidia, Amazon, Uber, Alphabet and Apple.

11. Fidelity Select Technology Portfolio (FSPTX)

The Fidelity Select Technology Portfolio is a large-cap growth fund that’s focused on technology stocks across a wide variety of industries. The bulk of the portfolio is invested in semiconductors, systems software, technology hardware, storage and peripherals, and application software. But it also holds technology-oriented stocks in industries like passenger ground transportation and hotels, resorts and cruise lines. Absolute performance has been very high, with the fund returning an average of 23.38% over the past five years and 19.92% over the past 10.

• Dividend yield: 0.05%
• Expense ratio: 0.64%
• Asset size: $14.6 billion
• Year-to-date return: 7.44%

The fund holds many well-known names but is definitely top-heavy. Just two stocks, Nvidia and Microsoft, make up more than 35% of the fund’s entire portfolio.

About Fidelity Mutual Funds

Fidelity has more than $4.9 trillion in assets under management across all investment products and works with about 50 million individual investors, most of whom are getting a decent return on their money over time. In 2023, 18 Fidelity mutual funds won a total of 24 U.S. Lipper Fund Awards for outperforming peers based on risk-adjusted, consistent returns.

With Fidelity, you can purchase a range of funds with a single investment. Fidelity mutual funds are typically affordable, professionally managed and designed to meet different investment goals.

Fidelity’s mutual fund offerings include but aren’t limited to the following:

• Actively managed funds: These funds have one or more managers who take a hands-on approach to maximize returns.
• Freedom Funds: These are target-date funds designed to get more conservative as you get closer to retirement.
• Asset Manager funds: With these funds, you determine the percentage you want in stocks based on your risk tolerance and goals.
• Index funds: These funds track a specific stock or bond index and tend to have lower management fees.

You can choose domestic or international mutual funds, as well as funds based on specific industry sectors or personal priorities like environmental sustainability.

Should You Invest In a Fidelity Mutual Fund?

There’s a Fidelity mutual fund for every type of investor, whether you prefer low fees, balanced funds or a focus on specific sectors. Fidelity is well established and offers its customers more than 70 years of experience. Plus, its website and research tools make it easy to get started.

Fidelity mutual funds are an excellent way to start or expand your portfolio, giving you a chance to save for a home, educational expenses or a retirement nest egg.

John Csiszar, Daria Uhlig and Brian Hill contributed to the reporting for this article.

Data was compiled on April 18 and April 19, 2024, and is subject to change.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

This article has been updated with additional reporting since its original publication.

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