My Top Performing 2026 Fidelity Mutual Funds

2026 has been a good year for returns on the stock market. Of all my investments, these 10 Fidelity Mutual Funds have exceeded all others. On the website, you see many articles on making money with ETFs (Exchange Traded Funds), REITs (Real Estate Investment Trusts), and Preferred Stocks plus Dividend stocks. While all have done well, then haven’t surpassed the simple method of investing in Mutual Funds. Dave Ramsey is a strong proponent of using Mutual Funds, and after using AI to help me allocate my funds this year, it appears he is definitely right.

Check out these Top 5 realizing that they are heavy into technology stocks. Last 5 are below the top 5. The downloadable PDF at bottom is easier to read with boxes in each section.

Standout Fidelity Mutual Funds in My Portfolio

My portfolio's five strongest-performing Fidelity mutual funds in 2026 provide exposure to several different areas of the equity market: technology, value stocks, emerging markets, growth-oriented companies, and small-cap value stocks. While their strategies are quite different, each fund has produced strong recent results and offers characteristics that can play a distinct role in a long-term portfolio.

The five funds are Fidelity Select Technology Portfolio (FSPTX), Fidelity Value Strategies Fund (FSLSX), Fidelity Emerging Markets Index Fund (FPADX), Fidelity OTC Portfolio (FOCPX), and Fidelity Small Cap Value Fund (FCPVX).

Performance at a Glance

Fund

Ticker

2026 YTD*

3-Year Annualized

5-Year Annualized

10-Year Annualized

Fidelity Select Technology Portfolio

FSPTX

37.90%

34.41%

19.25%

25.37%

Fidelity Value Strategies Fund

FSLSX

26.77%

17.78%

12.37%

12.88%

Fidelity Emerging Markets Index Fund

FPADX

26.32%

22.94%

8.03%

9.07%

Fidelity OTC Portfolio

FOCPX

25.58%

30.62%

15.30%

21.33%

Fidelity Small Cap Value Fund

FCPVX

23.90%

16.91%

9.63%

11.44%

*YTD figures are daily returns through September 9, 2026 for FSPTX, FSLSX, FPADX and FCPVX, and September 10 for FOCPX. Longer-term figures are annualized total returns through August 31, 2026. Past performance does not guarantee future results. (Fidelity Fund Research)

1. Fidelity Select Technology Portfolio — FSPTX

2026 YTD: 37.90%
3-year annualized: 34.41%
5-year annualized: 19.25%
10-year annualized: 25.37%

FSPTX is the most technology-focused fund of the five and currently has the strongest 2026 YTD performance. Its long-term record is also notable: a 25.37% annualized return over ten years represents exceptionally strong historical compounding.

The fund concentrates on technology companies and uses active management rather than simply tracking an index. Fidelity's August 2026 data show 3-, 5-, and 10-year annualized returns of 34.41%, 19.25%, and 25.37%, respectively. (Fidelity Fund Research)

Advantages

1. Strong technology exposure
FSPTX provides concentrated exposure to one of the areas of the market that has benefited substantially from cloud computing, artificial intelligence, semiconductor demand, software and digital transformation.

2. Exceptional long-term historical performance
The fund's 10-year annualized return of 25.37% is particularly significant because it demonstrates that its results have not been limited to the current year's technology rally. (Fidelity Fund Research)

3. Active management
Rather than simply owning every technology company according to an index, the portfolio managers can emphasize companies they believe have superior growth prospects.

4. Long operating history
FSPTX was established in 1981, giving investors a very long record through multiple technology and economic cycles. (Fidelity Fund Research)

5. Relatively moderate expense ratio for an actively managed sector fund
The current gross expense ratio is approximately 0.61%. (Fidelity Fund Research)

The trade-off

The same concentration that creates the potential for high returns also creates substantial volatility. A technology-focused fund can fall significantly when technology valuations contract or when investors rotate toward other sectors.

2. Fidelity Value Strategies Fund — FSLSX

2026 YTD: 26.77%
3-year annualized: 17.78%
5-year annualized: 12.37%
10-year annualized: 12.88%

FSLSX provides an important counterbalance to the technology-heavy funds. It focuses primarily on companies that Fidelity considers undervalued, with an emphasis on medium-sized companies but the flexibility to invest in larger and smaller companies as well.

Fidelity reports 3-, 5-, and 10-year annualized returns of 17.78%, 12.37%, and 12.88%. Its 2026 YTD return was 26.77% as of September 9. (Fidelity Fund Research)

Advantages

1. Value diversification
FSLSX gives the portfolio exposure to value-oriented companies rather than relying primarily on growth and technology stocks.

2. Strong long-term record
The fund has produced positive long-term annualized returns across the 3-, 5-, and 10-year periods. (Fidelity Fund Research)

3. Fundamental analysis
Fidelity says the fund uses fundamental analysis of financial condition, industry position, and economic and market conditions when selecting investments. (Fidelity Fund Research)

4. Flexible market-cap exposure
Although the fund focuses on medium-sized companies, it can invest substantially in larger and smaller companies, giving management considerable flexibility.

5. Diversifies the technology-heavy portion of the portfolio
From a portfolio-construction standpoint, its value orientation can provide exposure to companies with different characteristics than the technology and growth funds.

The trade-off

Value investing can go through extended periods when growth stocks outperform. The fund also has a relatively high turnover rate, which indicates that management actively changes the portfolio. (Fidelity Fund Research)

3. Fidelity Emerging Markets Index Fund — FPADX

2026 YTD: 26.32%
3-year annualized: 22.94%
5-year annualized: 8.03%
10-year annualized: 9.07%

FPADX brings international diversification to the group. Instead of concentrating on U.S. companies, the fund seeks to track the MSCI Emerging Markets Index, giving investors exposure to large- and mid-cap companies across emerging-market countries.

Its 3-year annualized return of 22.94% is particularly strong, while the 5- and 10-year returns are more moderate at 8.03% and 9.07%. (Fidelity Fund Research)

Advantages

1. International diversification
FPADX provides exposure to markets outside the United States, which can reduce dependence on the performance of the U.S. stock market.

2. Broad emerging-market exposure
The fund tracks an index covering large- and mid-cap companies across 27 emerging-market countries. (Fidelity Fund Research)

3. Extremely low expense ratio
The expense ratio is only 0.075%, making it by far the lowest-cost fund among these five. (Fidelity Fund Research)

4. Strong recent momentum
The fund's 26.32% YTD return and 22.94% three-year annualized return show how strongly emerging markets have performed recently. (Fidelity Fund Research)

5. Index-based approach
Rather than relying on a single portfolio manager's stock-picking decisions, FPADX seeks to closely replicate the composition and characteristics of its benchmark.

The trade-off

Emerging markets carry additional currency, political, economic and market risks. Fidelity specifically notes that these risks can be magnified in emerging markets. (Fidelity Fund Research)

The five-year return of 8.03% also illustrates that strong recent performance has not been consistent across every period.

4. Fidelity OTC Portfolio — FOCPX

2026 YTD: 25.58%
3-year annualized: 30.62%
5-year annualized: 15.30%
10-year annualized: 21.33%

FOCPX is another growth-oriented fund, but it has a somewhat different mandate from FSPTX. It normally invests at least 80% of assets in securities principally traded on NASDAQ or over-the-counter markets and can invest in both growth and value stocks.

As of July 31, 2026, information technology represented 53.58% of the portfolio, with communication services at 21.50%. (Fidelity Fund Research)

Advantages

1. Exceptional long-term performance
The fund's 30.62% annualized three-year return and 21.33% annualized ten-year return are among the strongest figures in this group. (Fidelity Fund Research)

2. Broad growth-company exposure
FOCPX gives access to technology, communication services and consumer-oriented growth companies rather than limiting itself strictly to the technology sector.

3. NASDAQ-oriented strategy
Its focus on securities traded principally on NASDAQ and OTC markets gives it substantial exposure to innovative and rapidly growing companies.

4. Long history
The fund dates back to 1984, giving it more than four decades of operating history. (Fidelity Fund Research)

5. Strong performance relative to its benchmark historically
Fidelity's June 2026 data show the fund's 3-, 5-, and 10-year annualized returns substantially above the corresponding NASDAQ Composite returns over those periods. (Fidelity Fund Research)

The trade-off

FOCPX is heavily tilted toward growth and technology. That means there is meaningful overlap in the economic drivers affecting FOCPX and FSPTX. Holding both can increase exposure to the same technology/growth cycle rather than providing completely independent diversification.

5. Fidelity Small Cap Value Fund — FCPVX

2026 YTD: 23.90%
3-year annualized: 16.91%
5-year annualized: 9.63%
10-year annualized: 11.44%

FCPVX provides exposure to a very different part of the market: smaller U.S. companies trading at value-oriented valuations.

Its 16.91% three-year annualized return, 9.63% five-year return and 11.44% ten-year return show a solid long-term record. (Fidelity Fund Research)

Advantages

1. Small-company exposure
FCPVX gives the portfolio access to smaller companies that are generally absent or less prominent in large-cap growth funds.

2. Value orientation
The fund combines small-company exposure with a value strategy, creating a different return profile from FSPTX and FOCPX.

3. Strong recent performance
The fund gained 23.90% YTD through September 9, 2026. (Fidelity Fund Research)

4. Long-term results above its category average
Fidelity's August 2026 figures show FCPVX with 3-, 5-, and 10-year annualized returns of 16.91%, 9.63%, and 11.44%, respectively, compared with category averages of 14.63%, 8.69%, and 9.78%. (Fidelity Fund Research)

5. Potential diversification from mega-cap technology
Small-cap value companies have different business characteristics and market drivers than the large technology and growth companies dominating FSPTX and FOCPX.

The trade-off

Small-cap stocks can be more volatile than large companies. FCPVX also carries a 0.91% expense ratio, considerably higher than FPADX's 0.075%. (Fidelity Fund Research)

What These Five Funds Bring to the Portfolio

The interesting feature of these five funds is that they are not simply five versions of the same investment.

Fund

Primary exposure

Portfolio role

FSPTX

Technology

High-growth technology

FSLSX

Mid-cap/value

Value diversification

FPADX

Emerging markets

International diversification

FOCPX

NASDAQ/growth

Growth and innovation

FCPVX

Small-cap value

Smaller-company/value exposure

This creates a combination of growth, value, international, technology and small-cap exposure.

There is, however, meaningful overlap between FSPTX and FOCPX. Both have substantial technology exposure, so their impressive performance should not necessarily be interpreted as completely independent sources of return. FOCPX's portfolio was 53.58% technology as of July 31, while FSPTX is explicitly a technology-sector fund. (Fidelity Fund Research)

The Long-Term Picture

Looking beyond the spectacular 2026 YTD numbers is particularly important.

The three funds with the strongest 10-year annualized historical returns are:

• FSPTX: 25.37%

• FOCPX: 21.33%

• FSLSX: 12.88%

• FCPVX: 11.44%

• FPADX: 9.07%

Those figures demonstrate that the five funds have very different historical return characteristics. FSPTX and FOCPX have benefited enormously from the long-term strength of technology and growth investing, while FSLSX and FCPVX provide value-oriented exposure and FPADX provides international emerging-market exposure. (Fidelity Fund Research)

Bottom Line

The five funds represent a particularly interesting combination for a long-term investor because they cover multiple investment styles rather than relying exclusively on one approach. FSPTX and FOCPX have generated the strongest historical growth, FSLSX and FCPVX add value exposure, and FPADX adds international emerging-market diversification.

The biggest consideration is that past performance—especially the extraordinary recent technology-related performance—does not guarantee that the same pattern will continue. Fidelity itself cautions that investment return and principal value fluctuate and that past performance is not a guarantee of future results. (Fidelity Fund Research)

For your portfolio specifically, the next useful step would be to look not only at which funds have performed best, but how much overlap exists among their holdings and whether the five funds are giving you genuine diversification or simply increasing your exposure to technology and growth.

The next analysis I would suggest is a holdings-overlap analysis of these five funds—including their top 10 holdings, technology exposure, expense ratios, and how much of your portfolio is effectively exposed to the same companies.

Keep in mind that there are many other high quality Fidelity Funds. Others that have done well for me this year are:

The Next Five: Fidelity Funds Ranked 6th Through 10th

After reviewing the mutual funds in my September 16, 2026 portfolio and comparing their 2026 year-to-date performance, the next five highest performers—after the top five previously discussed—are Fidelity Blue Chip Growth (FBGRX), Fidelity Select Pharmaceuticals (FPHAX), Fidelity Leveraged Company Stock (FLVCX), Fidelity Mega Cap Stock (FGRTX), and Fidelity ZERO Large Cap Index (FNILX).

Together, these five funds provide a mix of large-cap growth, healthcare, leveraged equity exposure and broad-market indexing.

Rank

Fund

Ticker

2026 YTD Return

6

Fidelity Blue Chip Growth

FBGRX

13.89%

7

Fidelity Select Pharmaceuticals

FPHAX

13.51%

8

Fidelity Leveraged Company Stock

FLVCX

12.35%

9

Fidelity Mega Cap Stock

FGRTX

12.33%

10

Fidelity ZERO Large Cap Index

FNILX

12.21%

Fidelity's latest September 15 data show these YTD figures for FBGRX, FLVCX and FGRTX, while Fidelity's individual fund data show FPHAX at 13.51% and FNILX at approximately 12.2%. (institutional.fidelity.com)

6. Fidelity Blue Chip Growth — FBGRX

YTD: 13.89%

FBGRX is one of Fidelity's best-known large-cap growth funds and focuses on established companies with strong growth characteristics. It gives the portfolio exposure to many of the large technology and growth companies that have driven the U.S. market in recent years.

The fund has also produced strong longer-term results. Through August 31, 2026, its annualized returns were 26.00% over three years, 13.65% over five years and 21.10% over ten years. (institutional.fidelity.com)

Key advantages

• Strong exposure to established growth companies.

• Excellent long-term historical performance.

• Actively managed rather than simply tracking an index.

• Provides substantial exposure to technology and companies benefiting from artificial-intelligence investment.

• The fund has a long operating history dating to 1987.

One consideration is concentration: Fidelity classifies FBGRX as a non-diversified portfolio, and its top 10 holdings represented about 58% of assets in July 2026. (Schwab)

7. Fidelity Select Pharmaceuticals — FPHAX

YTD: 13.51%

FPHAX gives the portfolio something different from the technology-heavy funds: healthcare and pharmaceutical exposure.

The fund invests primarily in companies involved in the research, development, manufacturing and distribution of pharmaceuticals and related healthcare products.

Fidelity reported a 13.51% YTD return as of September 9, 2026, while its Morningstar category is Health. (Fidelity Fund Research)

Key advantages

• Provides diversification away from technology.

• Focuses on a sector with long-term demand driven by healthcare needs and demographics.

• Allows active management within the pharmaceutical industry.

• Can benefit from successful drug development, healthcare innovation and changes in pharmaceutical demand.

• Fidelity's data indicate strong recent category-relative performance.

The principal trade-off is sector concentration. Pharmaceutical funds can be affected significantly by drug approvals, patent expirations, regulation and clinical-trial results.

8. Fidelity Leveraged Company Stock — FLVCX

YTD: 12.35%

FLVCX is one of the more unusual funds in the portfolio. Rather than being a conventional diversified large-cap fund, it uses a strategy that can employ leverage and seeks companies with attractive growth characteristics.

Its 12.35% YTD return through September 15 places it just ahead of FGRTX. Fidelity reports annualized returns of 23.24% over three years, 11.96% over five years and 14.48% over ten years. (institutional.fidelity.com)

Key advantages

• Strong long-term performance record.

• Exposure to companies with growth potential.

• Active management provides flexibility to move among industries and companies.

• Adds a different investment strategy to the portfolio.

• Historically has produced substantial long-term returns.

The major consideration is risk. The fund's use of leverage can magnify both gains and losses. It therefore behaves differently from a conventional broad-market index fund.

9. Fidelity Mega Cap Stock — FGRTX

YTD: 12.33%

FGRTX focuses on some of the largest companies in the U.S. economy. These businesses tend to have established operations, significant financial resources and substantial market positions.

The fund has produced annualized returns of 24.59% over three years, 16.67% over five years and 16.37% over ten years through August 31, 2026. (institutional.fidelity.com)

Key advantages

• Exposure to financially established mega-cap companies.

• Strong long-term historical performance.

• Less dependent on small-company growth than a small-cap fund.

• Can provide exposure to dominant companies across several industries.

• Its 0.58% expense ratio is relatively moderate for an actively managed Fidelity fund. (institutional.fidelity.com)

The primary issue is that mega-cap funds can overlap substantially with other large-cap growth holdings. Investors who already own FBGRX, FSPTX or FOCPX may therefore have considerable exposure to the same major companies.

10. Fidelity ZERO Large Cap Index — FNILX

YTD: approximately 12.21%

FNILX is fundamentally different from the other four funds. Rather than trying to outperform the market through active stock selection, it seeks to provide broad exposure to large U.S. companies.

Its biggest attraction is its zero expense ratio. Fidelity launched the ZERO family specifically to provide index exposure without a management fee.

Fidelity reports a 12.21% YTD return as of September 9, 2026, along with a 21.23% three-year annualized return and 12.49% five-year annualized return through August 31. The fund was launched in 2018, so it does not yet have a ten-year performance history. (Fidelity Fund Research)

Key advantages

• 0.00% expense ratio.

• Broad exposure to large U.S. companies.

• Very low-cost way to maintain a core equity position.

• Removes the risk of a portfolio manager's stock-picking decisions.

• Useful as a core holding alongside more specialized funds.

The trade-off is that FNILX is designed to capture the market rather than pursue concentrated opportunities. Its purpose is therefore different from funds such as FSPTX or FBGRX.

How These Five Fit Together

The five funds have considerably different purposes:

FBGRX provides actively managed large-cap growth exposure.

FPHAX adds pharmaceutical and healthcare exposure.

FLVCX provides a more aggressive leveraged-company strategy.

FGRTX focuses on America's largest companies.

FNILX provides low-cost broad large-cap market exposure.

This makes the group more diverse in strategy than simply looking at the YTD rankings would suggest.

One important portfolio observation

There is also meaningful overlap among these funds.

FBGRX and FGRTX can own many of the same mega-cap companies. FNILX will also own many of those companies because they represent a significant portion of the U.S. large-cap market.

Consequently, owning all three does not necessarily mean having three completely independent investments.

FPHAX is the major sector diversifier in this group, while FLVCX brings a different risk profile because of its leveraged strategy.

Final Perspective

The funds ranked sixth through tenth demonstrate that strong performance in my portfolio isn't limited to the technology funds at the top of the rankings.

FBGRX combines strong growth exposure with an impressive long-term record, FPHAX adds healthcare diversification, FLVCX offers an aggressive leveraged strategy, FGRTX provides mega-cap exposure, and FNILX supplies an extremely low-cost core-market approach.

The YTD numbers are useful for identifying what has worked in 2026, but the longer-term figures are important because a single year's performance can be heavily influenced by market conditions. Fidelity also emphasizes that historical performance is not a guarantee of future results. (institutional.fidelity.com)

Taken together, these five funds illustrate five different ways of participating in the equity market: growth, healthcare, leveraged equities, mega-cap companies and broad-market indexing.

AI made a mistake which it noted in the second list. FDCPX was not listed in these top 10 but was actually the best performing fund in 2026. I did not redo the article taking this into account.

One correction worth highlighting: after checking Fidelity's current data, FDCPX (Fidelity Select Tech Hardware) is actually the highest-performing mutual fund in your portfolio by a wide margin at 68.02% YTD as of September 15, 2026. (institutional.fidelity.com) This means the earlier top-five ranking should be revised if you want the rankings to be strictly accurate.

When deciding what Mutual Funds to invest in, always consider not only recent performance but also the 3, 5, and 10 year returns. Those funds that can average above 10% on all 4 periods are outstanding and give you comfort in knowing a market downturn is just a short-lived drop. No one plan is perfect, but the more diversified you are, the odds are heavily in your favor.

These are just examples of some of my better-performing mutual funds. It takes little time to study these, and because they are weighted with many diversified companies, your loss exposure is limited. These can be reviewed quarterly and rebalanced easily to keep your portfolio in top condition.

Always consult with your Financial Advisor or broker before making any investments.

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