TheStreet.com Ratings: The Top 5 'Ultra' Funds

As of June 30, AEDCX ranked in the 95th percentile, averaging a total return of 29.7% annually in the last three years. As of July 31, the fund geographically diversified its asset holdings in Europe with a 20.2% concentration in the U.K., 12.5% in France and 11.3% in Germany. With 12.1% in banking and 6% in pharmaceuticals, the fund also holds from 3%-5% of assets in various industries, including construction, oil and gas, packaged foods, machinery, and casinos and gaming.

The largest holdings are Anglo Irish Bank and Puma AG, but each represents less than 2.3% of assets.

Because past performance is not a guarantee of future results, it will be interesting to see which fund families stay on the list, move up or move down in the ranking. Plus, you should never buy a fund without reading its prospectus first to see if the fund fits into your overall investment plan.