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Kip 25

Fidelity New Millennium

Symbol: FMILX
Expense Ratio: 0.54%

The process: Manager John Roth can invest in firms of all sizes (the fund has 53% of its assets in large caps; the rest is in small and midsize firms). He is more sensitive to a stock’s valuation than most growth managers and favors fast-growing firms that will benefit from technological changes and demographic trends, among other things.

Since Roth took the helm in mid 2006, New Millennium has returned an annualized 8.8%, beating the S&P 500 by an average of 0.6 percentage point per year.

Data through February 28, 2017

See Kiplinger 25 at a Glance for the complete list of our favorite no-load mutual funds.

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And for the full collection of our Kiplinger 25 content, see KIPLINGER 25: A Guide to Our Favorite No-Load Funds.