Best Fidelity Mutual Funds to Buy Now

Summary: The best Fidelity mutual funds offer investors a low-cost way to diversify their portfolios. They also allow for active management with a solid track record or a more hands-off approach with index funds. Look for funds with low expense ratios and at least $60 billion in assets under management, such as the Fidelity 500 Index Fund, the Fidelity Contrafund and the Fidelity U.S. Bond Index Fund.

When most investors consider the best Fidelity mutual funds, they think of low-cost options that offer tactical approaches designed to beat the market.

While lots of fund providers have lowered fees in the past decade or so, Fidelity was the first — and remains one of the few — to offer zero-expense-ratio index mutual funds. The asset manager currently has four mutual funds that have 0% expense ratios available to investors with a Fidelity account.

Why does this matter? Higher expense ratios can erode your investment returns over time.

For instance, a $10,000 investment in a mutual fund with a 0.2% expense ratio and an expected return of 7% would grow to roughly $72,000 over 30 years. That same investment in a mutual fund with a 0.8% expense ratio and 7% assumed return would be worth about $61,000 after three decades.

That's a substantial amount of money to leave off the table due to higher fees.

While our list of the best Fidelity mutual funds to buy now doesn't include any zero-expense-ratio funds, it does include some familiar active funds with expense ratios below or within the average range of 0.5% to 0.75%. The lineup also includes large and popular index funds that might be more attractive to investors who prefer a more hands-off approach.

The result is a list of low-cost funds that cover multiple strategies, providing great options for any investor looking to build wealth for the long term.

The following Fidelity mutual funds are open to new investors, have no investment minimums and have at least $60 billion in assets under management.

Data is as of February 12. Dividend yields represent the trailing 12-month yield, which is a standard measure for equity funds.

Fidelity 500 Index Fund

Assets under management: $740.0 billion
Dividend yield: 1.1%
Expenses: 0.015%, or $1.50 annually for every $10,000 invested

As its name suggests, the Fidelity 500 Index Fund (FXAIX) is a focused bet on the S&P 500 Index. That makes the index fund a bit different than the more actively managed funds that make up the largest vehicles in this asset manager's arsenal.

But it's hard to argue with the simple approach and the tremendous scale of FXAIX.

It's made up of the largest 500 U.S. publicly traded companies, with top positions including a who's who of large-cap tech stocks that have led the market in recent years, including Apple (AAPL), Microsoft (MSFT) and Nvidia (NVDA).

With no minimum investment and a rock-bottom expense structure, the fund is tremendously accessible, even for small investors.

It's also rated Gold at Morningstar, with analyst Brendan McCann calling it a "best-in-class option for large-cap U.S. stocks."

Learn more about FXAIX at the Fidelity provider site.

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Fidelity Contrafund

Assets under management: $176.3 billion
Dividend yield: 0.07%
Expenses: 0.63%

One of the most respected actively managed mutual funds out there is the Fidelity Contrafund (FCNTX). It's a Wall Street institution that's been generating strong returns for investors since its birth in 1967.

This top Fidelity mutual fund is representative of Will Danoff's — the fund's star asset manager — approach to stock-picking in pursuit of market-beating gains. It primarily contains U.S. large-cap stocks, with a portfolio of just under 450 positions that includes the usual suspects.

Right now, its top holding is Meta Platforms (META), which differentiates it from typical large-cap index funds.

FCNTX has outperformed the S&P 500 over the past one, three, five and 10-year time frames, thanks to its low fees and actively managed approach.

Of note, Danoff is set to retire at the end of 2026, and Fidelity brought on Asher Anolic and Jason Weiner in April 2025 to co-manage the fund.

Learn more about FCNTX at the Fidelity provider site.

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Fidelity Total Market Index Fund

Assets under management: $122.8 billion
Dividend yield: 1.0%
Expenses: 0.015%

The Fidelity Total Market Index Fund (FSKAX) is among the best Fidelity mutual funds to buy now, thanks to its low-cost structure and a broad approach that provides easy diversification.

More than 3,800 stocks populate the portfolio, giving FSKAX a true "total market" approach to the U.S. Larger companies and the Magnificent 7 stocks carry more weight, as is typical for many index funds.

Still, the wide net cast by this Fidelity mutual fund could help smooth some bumps in the road if one corner of the market gets hit harder than others.

Morningstar says its Gold Medalist rating is underpinned by the fund's "sound investment process and strong management team."

If you're a "set it and forget it" investor, FSKAX is for you.

Learn more about FSKAX at the Fidelity provider site.

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Fidelity Blue Chip Growth Fund

Assets under management: $88.9 billion
Dividend yield: 0.2%
Expenses: 0.61%

Another tactical and actively managed Fidelity fund is the Fidelity Blue Chip Growth Fund (FBGRX), which does exactly what it advertises: focuses on blue-chip stocks with strong growth metrics.

The portfolio includes 375 or so total positions, with Nvidia in the top spot, followed by Apple and Google parent Alphabet (GOOGL).

When you buy shares of FBGRX, you gain exposure to megacap U.S. stocks that reliably expand earnings and sales year in and year out.

"Fidelity Blue Chip Growth stands tall on the strength of its bold bets and seasoned leadership," says Robby Greengold, principal of equity strategies at Morningstar, of the Bronze-rated fund. However, Greengold notes that FBGRX has an outsize reliance on AI stocks, which leaves it exposed to the market's mood.

That said, the fund has turned in a strong performance over the past decade and a $10,000 investment 10 years ago would theoretically be worth nearly $65,000 today. If your priority is strong growth, FBGRX is one of the best Fidelity mutual funds to buy now.

Learn more about FBGRX at the Fidelity provider site.

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Fidelity U.S. Bond Index Fund

Assets under management: $68.2 billion
SEC yield: 4.1%*
Expenses: 0.025%

Looking beyond publicly traded companies, the Fidelity U.S. Bond Index Fund (FXNAX) is among the largest and most popular Fidelity mutual funds to buy now.

Holding approximately 10,000 individual bonds, FXNAX is incredibly diversified.

It has about half its assets in rock-solid U.S. Treasury bonds, about 25% in corporate bonds from companies such as Verizon Communications (VZ) and 25% in bundled mortgage debt, auto loans and other instruments.

The portfolio includes only investment-grade bonds, avoiding "junk" bonds and providing added peace of mind.

The fund has a "sound investment process and strong management team," says Morningstar, both of which support its Gold Medalist rating.

FXNAX currently yields 4.1%, more than triple the S&P 500 right now.

* Yields on bond funds are SEC yields, which reflect the interest earned after deducting fund expenses for the most recent 30-day period.

Learn more about FXNAX at the Fidelity provider site.

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Jeff Reeves writes about equity markets and exchange-traded funds for Kiplinger. A veteran journalist with extensive capital markets experience, Jeff has written about Wall Street and investing since 2008. His work has appeared in numerous respected finance outlets, including CNBC, the Fox Business Network, the Wall Street Journal digital network, USA Today and CNN Money.

Fidelity 500 Index Fund

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Fidelity Contrafund

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Fidelity Total Market Index Fund

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Fidelity Blue Chip Growth Fund

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Fidelity U.S. Bond Index Fund

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