TSC Ratings provides exclusive stock, ETF and mutual fund ratings and commentary based on award-winning, proprietary tools. Its "safety first" approach to investing aims to reduce risk while seeking solid outperformance on a total return basis.

Fidelity Investments' Magellan Fund ( FMAGX) is riding the success of tech superstars Apple ( AAPL) and Google ( GOOG) this year, returning 7.3% as the stock market drops.

So far this year, Magellan has generated the second-best performance among the 50 largest stock mutual funds that are actively managed. Almost 35% of the fund is invested in technology and communications companies.

TheStreet.com Ratings

Apple and Google have brought big windfalls to Magellan this year, gaining 47% and 27%, respectively. Cisco Systems ( CSCO) and Oracle ( ORCL) also have jumped more than 10%. All four companies were among the fund's top 20 holdings at the end of March.

The Van Kampen Capital Growth Fund ( ACPAX) was the group's best performer, returning 18% as the S&P 500 index fell 4.5%. Van Kampen managers also bet on tech stocks, including Baidu ( BIDU) and Amazon.com ( AMZN), which have jumped more than 50% this year.

There were several losers among these funds, which each have at least $10 billion in assets. Financial stocks were largely to blame.

The Harbor International Fund ( HAINX) has lost 8% this year. The fund has 27% of its assets in finance companies, such as AXA ( AXA), Lloyds Banking Group ( LYG) and Sumitomo Trust & Banking. These stocks have dropped more than 20% each.

Closer to home, the American Washington Mutual Investors Fund ( AWSHX) shed 7.9%. The fund suffered as Citigroup ( C), Fifth Third Bancorp ( FITB) and SunTrust Banks ( STI) have lost about half their value. Bank of America ( BAC), another holding, is down 38%.

This Year's Best and Worst Performing Large Mutual Funds
Fund (Ticker) Rating
Total Return YTD
Objective
Van Kampen Capital Growth Fund (ACPAX) C
18.07%
Growth - Domestic
Fidelity Magellan Fund (FMAGX) D+
7.28%
Growth - Domestic
T Rowe Price Growth Stock Fund (PRGFX) B-
7.28%
Growth - Domestic
Fidelity Growth Company Fund (FDGRX) C+
3.86%
Growth - Domestic
Fidelity Low-Priced Stock Fund (FLPSX) C
3.59%
Mid Cap
Vanguard Windsor II Fund (VWNFX) C
-6.49%
Growth - Domestic
T Rowe Price Equity Income Fund (PRFDX) C
-6.57%
Equity Income
Van Kampen Growth and Income Fund (ACGIX) C+
-7.67%
Growth & Income
American Washington Mutual Investors Fund (AWSHX) C
-7.85%
Growth & Income
Harbor International Fund (HAINX) C
-7.95%
Non-US Equity
Source: Bloomberg & TheStreet.com Ratings

Kevin Baker became the senior financial analyst for TSC Ratings upon the August 2006 acquisition of Weiss Ratings by TheStreet.com, covering mutual funds. He joined the Weiss Group in 1997 as a banking and brokerage analyst. In 1999, he created the Weiss Group's first ratings to gauge the level of risk in U.S. equities. Baker received a B.S. degree in management from Rensselaer Polytechnic Institute and an M.B.A. with a finance specialization from Nova Southeastern University.

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