The Mutual Fund With the Top 3-Year Honors

TheStreet.com Ratings initiated coverage of 18 open-end mutual funds that accrued a track record of three years of risk and performance data by the end of November.

Only one of the funds that opened for business in November 2005 received our top rating level of "excellent." The Highbridge Statistical Market Neutral Fund(HSKAX Quote) is also the only fund scoring both a positive one-year return, at 8.3%, and a three-year annualized return, at 4.8%.

TheStreet.com Ratings' risk-adjusted return ranking model for open-end stock mutual funds places Highbridge in the top category at A+. Notable holdings include Nike(NKE Quote), Best Buy(BBY Quote), Staples(SPLS Quote) and Chevron(CVX Quote). With 1,046 U.S. stocks in the portfolio, no individual stock holding makes up more than one-half of 1% of fund assets and no sector is allocated more than a 6% concentration. ...