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The Best Performing Large Cap Mutual Funds Of the Last 100 Years

June 4, 2024

2024 marks the 100th anniversary of the first US-listed mutual fund. The MFS Massachusetts Investors Trust (MITTX) will turn 100 in July 2024. The industry has transformed from rather illiquid markets of the early 20th century to one where the mutual fund is currently being challenged by the real-time trading benefits of the exchange-traded fund (ETF).

A line chart titled '100 Year Anniversary of the Mutual Fund' displaying the performance of MFS Massachusetts Investors Trust A (MITTX) from July 15, 1924, to May 31, 2024. The net asset value percentage change is shown in purple, indicating an overall increase of 896.6% with an annualized return of 2.33%. The chart includes shaded vertical bars representing recessions.

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Though the investment landscape has changed, asset managers trying to create funds that outperform their benchmarks and competitors have not.

To celebrate the mutual fund’s centennial anniversary, we’ve compiled visuals of the best-performing large-cap funds across various periods and examined how they currently provide differentiated value to investors by looking at their unique holdings.

Leveraging YCharts’ Fund Screener, we identified the best-performing large cap mutual funds, ranking them by the best annualized NAV performance over 1-, 5-, and 10-year periods as of May 31, 2024. Each section includes a table of the best-performing funds, a rolling returns visual for the top strategies in each category, and a visual depicting the number of unique holdings in these funds relative to the passive benchmark strategy.

A series of four line charts displaying the annualized total NAV returns for MFS Massachusetts Investors Trust A (MITTX) over different periods. The first chart shows total NAV annualized 1-year returns of 26.46%, the second chart shows total NAV annualized 5-year returns of 13.36%, the third chart shows total NAV annualized 10-year returns of 11.31%, and the fourth chart shows total NAV annualized 20-year returns of 9.95%. Each chart includes shaded vertical bars representing recessions. The date range for the data is from January 31, 1963, to May 31, 2024

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Use the links below to navigate to a specific section:

Large Blend
Large Growth
Large Value

Large Blend Mutual Fund Performance

Best Performing Large Blend Mutual Fund on an Annualized 1-Year Basis

As of May 31, 2024, Permanent Portfolio Aggressive Growth I (PAGRX) was the best-performing large blend mutual fund on an annualized 1-year basis. Since the strategy’s inception (January 2, 1990), it has produced 50.1% annualized 1-year NAV returns.

A series of five line charts titled 'Best Performing Large Blend Mutual Funds (Annualized 1-Year)' displaying the total NAV annualized 1-year returns for different funds. The first chart shows Permanent Portfolio Aggressive Growth I with returns of 50.10%, the second chart shows GQG Partners US Select Quality Eq Instl with returns of 39.97%, the third chart shows Midas Magic with returns of 39.85%, the fourth chart shows Nationwide GQG US Quality Eq R6 with returns of 39.51%, and the fifth chart shows Pioneer A with returns of 38.58%. Each chart includes shaded vertical bars representing recessions. The date range for the data is from January 31, 1963, to May 31, 2024.

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GQG Partners US Select Quality Equity Fund Institutional (GQEIX), Midas Magic (MISEX), Nationwide GQG US Quality Equity R6 (NWAVX), and Pioneer A (PIODX) rounded out the top five. View the complete list here.

Of the 38 securities held by PAGRX, 12, including Palantir Technologies Inc (PLTR), Williams-Sonoma Inc (WSM), and HF Sinclair Corp (DINO), were not held by Vanguard 500 Index Admiral (VFIAX) as of April 30, 2024.

A screenshot from YCharts comparing the holdings of Vanguard 500 Index Admiral (VFIAX) and Permanent Portfolio Aggressive Growth I as of April 2024. The image highlights that there are 12 unique holdings in Permanent Portfolio Aggressive Growth I when compared to the Vanguard 500 Index Admiral

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Best Performing Large Blend Mutual Fund on an Annualized 5-Year Basis

As of May 31, 2024, Permanent Portfolio Aggressive Growth I (PAGRX) was the best-performing large blend mutual fund on an annualized 5-year basis. Since the strategy’s inception (January 2, 1990), it has produced 19.6% annualized 5-year NAV returns.

A series of five line charts titled 'Best Performing Large Blend Mutual Funds (Annualized 5-Year)' displaying the total NAV annualized 5-year returns for different funds. The first chart shows Permanent Portfolio Aggressive Growth I with returns of 19.64%, the second chart shows Meehan Focus with returns of 19.63%, the third chart shows GQG Partners US Select Quality Eq Instl with returns of 19.59%, the fourth chart shows JPMorgan US Large Cap Core Plus I with returns of 18.74%, and the fifth chart shows Fidelity Series All-Sector Equity with returns of 18.20%. Each chart includes shaded vertical bars representing recessions. The date range for the data is from January 31, 1995, to May 31, 2024.

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Meehan Focus (MEFOX), GQG Partners US Select Quality Equity Fund Institutional (GQEIX), JPMorgan US Large Cap Core Plus I (JLPSX), and Fidelity Series All-Sector Equity (FSAEX) rounded out the top five. View the complete list here.

Best Performing Large Blend Mutual Fund on an Annualized 10-Year Basis

As of May 31, 2024, GMO Quality III (GQETX) was the best-performing large blend mutual fund on an annualized 10-year basis. Since the strategy’s inception (February 6, 2004), it has produced 14% annualized 10-year NAV returns.

A series of five line charts titled 'Best Performing Large Blend Mutual Funds (Annualized 10-Year)' displaying the total NAV annualized 10-year returns for different funds. The first chart shows GMO Quality III with returns of 13.96%, the second chart shows JPMorgan US Large Cap Core Plus I with returns of 13.43%, the third chart shows Vanguard PRIMECAP Adm with returns of 13.41%, the fourth chart shows JPMorgan US Equity R6 with returns of 13.40%, and the fifth chart shows Pear Tree Quality Ordinary with returns of 13.37%. Each chart includes shaded vertical bars representing recessions. The date range for the data is from November 30, 1994, to May 31, 2024.

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JPMorgan US Large Cap Core Plus I (JLPSX), Vanguard PRIMECAP Admiral (VPMAX), JPMorgan US Equity R6 (JUEMX), Pear Tree Quality Ordinary (USBOX), and rounded out the top five. View the complete list here.

Of the 45 publicly traded equities held by GQETX, 14, including Safran SA (SAFRF), SAP SE (SAPGF), and Taiwan Semiconductor Manufacturing Co Ltd (TSMWF), were not held by Vanguard 500 Index Admiral (VFIAX) as of February 29, 2024.

A screenshot from YCharts comparing the holdings of Vanguard 500 Index Admiral (VFIAX) and GMO Quality III as of February 2024. The image highlights that there are 14 unique holdings in GMO Quality III when compared to the Vanguard 500 Index Admiral.

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Large Growth Mutual Fund Performance

Best Performing Large Growth Mutual Fund on an Annualized 1-Year Basis

As of May 31, 2024, Catalyst Insider Buying A (INSAX) was the best-performing large growth mutual fund on an annualized 1-year basis. Since the strategy’s inception (July 29, 2011), it has produced 48.6% annualized 1-year NAV returns.

A series of five line charts titled 'Best Performing Large Growth Mutual Funds (Annualized 1-Year)' displaying the total NAV annualized 1-year returns for different funds. The first chart shows Catalyst Insider Buying A with returns of 48.55%, the second chart shows Fidelity Focused Stock with returns of 46.42%, the third chart shows Tanaka Growth with returns of 45.25%, the fourth chart shows Fidelity Series Blue Chip Growth with returns of 45.19%, and the fifth chart shows Chase Growth Institutional with returns of 45.19%. Each chart includes shaded vertical bars representing recessions. The date range for the data is from November 30, 1997, to May 31, 2024.

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Fidelity Focused Stock (FTQGX), Tanaka Growth (TGFRX), Fidelity Blue Chip Growth (FSBDX), and Chase Growth Institutional (CHAIX) rounded out the top five. View the complete list here.

Of the 33 publicly traded equities held by INSAX, 15, including Hims & Hers Health Inc (HIMS), Ensign Group Inc (ENSG), and Warrior Met Coal Inc (HCC), were not held by Vanguard Growth Index Admiral (VIGAX) as of December 31, 2023.

A screenshot from YCharts comparing the holdings of Vanguard Growth Index Admiral (VIGAX) and Catalyst Insider Buying A as of December 2023. The image highlights that there are 15 unique holdings in Catalyst Insider Buying A when compared to the Vanguard Growth Index Admiral

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Best Performing Large Growth Mutual Fund on an Annualized 5-Year Basis

As of May 31, 2024, Fidelity Series Growth Company (FCGSX) was the best-performing large growth mutual fund on an annualized 5-year basis. Since the strategy’s inception (November 7, 2013), it has produced 24.8% annualized 5-year NAV returns.

A series of five line charts titled 'Best Performing Large Growth Mutual Funds (Annualized 5-Year)' displaying the total NAV annualized 5-year returns for different funds. The first chart shows Fidelity Series Growth Company with returns of 24.77%, the second chart shows Baron Partners Institutional with returns of 24.33%, the third chart shows Fidelity Growth Company Fund with returns of 23.52%, the fourth chart shows Fidelity Series Blue Chip Growth with returns of 23.01%, and the fifth chart shows Fidelity Blue Chip Growth K6 with returns of 22.76%. Each chart includes shaded vertical bars representing recessions. The date range for the data is from January 31, 1988, to May 31, 2024.

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Baron Partners Institutional (BPTIX), Fidelity Growth Company Fund (FDGRX), Fidelity Series Blue Chip Growth (FSBDX), and Fidelity Blue Chip Growth K6 (FBCGX) rounded out the top five. View the complete list here.

Of the 567 publicly traded equities held by FCGSX, 276, including Pure Storage Inc (PSTG), Nutanix Inc (NTNX), and Deckers Outdoor Corp (DECK), were not held by Vanguard Growth Index Admiral (VIGAX) as of April 30, 2024.

A screenshot from YCharts comparing the holdings of Vanguard Growth Index Admiral (VIGAX) and Fidelity Series Growth Company as of April 2024. The image highlights that there are 276 unique holdings in Fidelity Series Growth Company when compared to the Vanguard Growth Index Admiral

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Best Performing Large Growth Mutual Fund on an Annualized 10-Year Basis

As of May 31, 2024, Fidelity Series Growth Company (FCGSX) was the best-performing large growth mutual fund on an annualized 10-year basis. Since the strategy’s inception (November 7, 2013), it has produced 19.3% annualized 10-year NAV returns.

A series of five line charts titled 'Best Performing Large Growth Mutual Funds (Annualized 10-Year)' displaying the total NAV annualized 10-year returns for different funds. The first chart shows Fidelity Series Growth Company with returns of 19.28%, the second chart shows Fidelity Growth Company Fund with returns of 18.49%, the third chart shows Fidelity Series Blue Chip Growth with returns of 18.37%, the fourth chart shows Fidelity Advisor Series Growth Opps with returns of 18.23%, and the fifth chart shows Victory NASDAQ-100 Index with returns of 17.98%. Each chart includes shaded vertical bars representing recessions. The date range for the data is from January 31, 1993, to May 31, 2024.

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Fidelity Growth Company Fund (FDGRX), Fidelity Series Blue Chip Growth (FSBDX), Fidelity Advisor Series Growth Opportunities Fund (FAOFX), and Victory NASDAQ-100 Index (USNQX) rounded out the top five. View the complete list here.

Large Value Mutual Fund Performance

Best Performing Large Value Mutual Fund on an Annualized 1-Year Basis

As of May 31, 2024, Upright Growth & Income (UPDDX) was the best-performing large value mutual fund on an annualized 1-year basis. Since the strategy’s inception (October 10, 2017), it has produced 47.9% annualized 1-year NAV returns.

A series of five line charts titled 'Best Performing Large Value Mutual Funds (Annualized 1-Year)' displaying the total NAV annualized 1-year returns for different funds. The first chart shows Upright Growth & Income with returns of 47.86%, the second chart shows Sound Shore Investor with returns of 37.04%, the third chart shows Fidelity Advisor Dividend Growth A with returns of 36.04%, the fourth chart shows Fidelity New Millennium with returns of 35.11%, and the fifth chart shows Lord Abbett Focused Large Cap Value A with returns of 33.08%. Each chart includes shaded vertical bars representing recessions. The date range for the data is from May 31, 1986, to May 31, 2024.

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Sound Shore Investor (SSHFX), Fidelity Advisor Dividend Growth A (FADAX), Fidelity New Millennium (FMILX), and Lord Abbett Focused Large Cap Value A (LAFLX) rounded out the top five. View the complete list here.

Of the 38 publicly traded securities held by UPDDX, 27, including Himax Technologies Inc (HIMX), NVIDIA Corp (NVDA), and Taiwan Semiconductor Manufacturing Co Ltd (TSM), were not held by Vanguard Value Index Adm (VVIAX) as of December 31, 2023.

A screenshot from YCharts comparing the holdings of Vanguard Value Index Admiral (VVIAX) and Upright Growth & Income as of December 2023. The image highlights that there are 27 unique holdings in Upright Growth & Income when compared to the Vanguard Value Index Admiral

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Best Performing Large Value Mutual Fund on an Annualized 5-Year Basis

As of May 31, 2024, Upright Growth & Income (UPDDX) was the best-performing large value mutual fund on an annualized 5-year basis. Since the strategy’s inception (October 10, 2017), it has produced 19.1% annualized 5-year NAV returns.

A series of five line charts titled 'Best Performing Large Value Mutual Funds (Annualized 5-Year)' displaying the total NAV annualized 5-year returns for different funds. The first chart shows Upright Growth & Income with returns of 19.05%, the second chart shows HCM Dividend Sector Plus A with returns of 17.76%, the third chart shows Natixis Oakmark Y with returns of 16.80%, the fourth chart shows Oakmark Investor with returns of 16.53%, and the fifth chart shows GMO US Equity VI with returns of 16.41%. Each chart includes shaded vertical bars representing recessions. The date range for the data is from January 31, 1967, to May 31, 2024.

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HCM Dividend Sector Plus A (HCMNX), Natixis Oakmark Y (NEOYX), Oakmark Investor (OAKMX), and GMO US Equity VI (GMCQX) rounded out the top five. View the complete list here.

Best Performing Large Value Mutual Fund on an Annualized 10-Year Basis

As of May 31, 2024, Parnassus Value Equity Investor (PARWX) was the best-performing large value mutual fund on an annualized 10-year basis. Since the strategy’s inception (April 29, 2005), it has produced 12.8% annualized 10-year NAV returns.

A series of five line charts titled 'Best Performing Large Value Mutual Funds (Annualized 10-Year)' displaying the total NAV annualized 10-year returns for different funds. The first chart shows Parnassus Value Equity Investor with returns of 12.84%, the second chart shows Smead Value I with returns of 12.29%, the third chart shows Fidelity New Millennium with returns of 11.76%, the fourth chart shows Natixis Oakmark Y with returns of 11.63%, and the fifth chart shows GMO US Equity VI with returns of 11.59%. Each chart includes shaded vertical bars representing recessions. The date range for the data is from January 31, 1972, to May 31, 2024.

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Smead Value I1 (SVFFX), Fidelity New Millennium (FMILX), Natixis Oakmark Y (NEOYX), and GMO US Equity VI (GMCQX) rounded out the top five. View the full list here.

Of the 45 publicly traded equities held by PARWX, 12, including S&P Global Inc (SPGI), Alphabet Inc (GOOGL), and Agilent Technologies Inc (A), were not held by Vanguard Value Index Adm (VVIAX) as of April 30, 2024.

"A screenshot from YCharts comparing the holdings of Vanguard Value Index Admiral (VVIAX) and Parnassus Value Equity Investor as of April 2024. The image highlights that there are 12 unique holdings in Parnassus Value Equity Investor when compared to the Vanguard Value Index Admiral

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Using YCharts to Compare and Present Mutual Funds to Advisors

Over the last century, mutual funds have been pivotal in shaping the investment landscape, and asset managers have continually adapted their strategies to maximize AUM growth. YCharts represents a pivotal advancement in this ongoing evolution, offering powerful tools for asset managers to grow their AUM.

Before a meeting with financial advisors, asset managers can use a Comp Table or Fund Screener to understand their funds’ quantitative strengths and vulnerabilities. This can help better address potential advisor concerns and highlight competitive advantages.

During discussions, wholesalers can employ Fundamental Charts in YCharts to visually demonstrate the superiority of their strategies over competitors.

A line chart titled 'Illustrate Your Strategy's Superiority with YCharts' demonstrating how an asset manager can use YCharts in a meeting with a financial advisor. The chart compares the total return of 'Your Strategy' and 'A Competitor's Fund' from May 31, 2021, to May 30, 2024. 'Your Strategy' is represented by a purple line showing a total return of 31.95%, while 'A Competitor's Fund' is represented by an orange line showing a total return of 12.19%. The chart shows the performance trend over the specified period, illustrating the consistent outperformance of 'Your Strategy' compared to 'A Competitor's Fund.'

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After personalizing visuals for one advisor, you can save and add them to your Dashboard. All visuals and Dashboards can be shared in YCharts so a regional director can create a centralized resource hub, ensuring consistency across all client interactions.

When dealing with advisors who already invest in similar funds, you can quickly toggle between the unique and common holdings of multiple mutual funds, ETFs, and Portfolios to differentiate your strategy in a crowded market.

A screenshot from YCharts showing how asset managers can use YCharts to demonstrate the uniqueness of their strategy to financial advisors. The image compares the holdings of Vanguard Value Index Admiral (VVIAX) and Parnassus Value Equity Investor as of April 2024.

Connect with an Asset Management Specialist

By incorporating an advisor’s holdings into Portfolios, asset managers can illustrate how their strategies enhance client portfolios. Whether it’s improving performance, enhancing risk mitigation, or lowering volatility, YCharts provides the tools to articulate, visualize, and quantify the specific benefits of your strategy tailored to the advisor’s client needs.

Whenever you’re ready, there are three ways YCharts can help you:

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