Mutual Funds That Hedge Top Ratings List

"Desperate times call for temperate measures" might be a (corrupted) saying that describes a prudent approach to the maelstrom of the stock market.

Mass redemptions resulting from turmoil in the hedge fund industry are a major factor in the market's outsized swings in recent weeks. So it might seem ironic that three of the highest-rated mutual funds, as measured by TheStreet.com Ratings, are essentially hedge funds for Everyman.

But unlike most of the "two-and-twenty" funds that investors are abandoning in droves, three of the funds in the accompanying table place great weight on the "protect against risk" portion of the "hedge" concept of investing. ...