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Zacks' free Fund Newsletter will brief you on top news and analysis, as well as top-performing mutual funds, each week. Want key mutual fund info delivered straight to your inbox? Its net expense ratio is 0.82% compared to the category average of 0.94%. PRUAX’s 3-year and 5-year annualized returns are 9.1% and 9.4%, respectively. Three top holdings for PRUAX are 9% in Nextera Energy, 5.3% in CenterPoint Energy and 4.3% in Ameren. Shaun Hong has been the lead manager of PRUAX since Sep 29, 2000, and 81.4% of the fund is currently invested in the utility sector. Capital gains, if any, are paid annually. These include electric, gas, gas pipeline, telephone, telecommunications, water, cable, airport, seaport and toll road companies. PRUAX normally invests the majority of its investable assets in equity-related and investment-grade debt securities of utility companies. PGIM Jennison Utility Fund PRUAX seeks high total return through capital appreciation and current income. Its net expense ratio is 0.58% compared to the category average of 0.94%. Three top holdings for FRUAX are 11.7% in Nextera Energy, 4.8% in CMS Energy and 4.6% in Dominion Energy.įRUAX’s 3-year and 5-year annualized returns are 8.3% and 9.2%, respectively. John Kohli has been the lead manager of FRUAX since Dec 30, 1998, and 92.5% of the fund is currently invested in the utility sector. It offers dividends quarterly and capital gains, if any, annually. FRUAX invests mostly in equity securities but may invest a small portion of its assets in debt securities. To see how this fund performed compared in its category, and other 1 and 2 Ranked Mutual Funds, please click here.įranklin Utilities Fund FRUAX seeks capital appreciation and current income by investing the majority of its net assets in the securities of public utilities companies, primarily in electric utility securities. Its net expense ratio is 0.60% compared to the category average of 0.94%. Three top holdings for FIUIX are 9.3% in Nextera Energy, 7.9% in Sempra Energy and 7.1% in Exelon.įIUIX’s 3-year and 5-year annualized returns are 6.9% and 8%, respectively. Capital gains are offered twice a year, in March and December.ĭouglas Simmons has been the lead manager of FIUIX since Sep 29, 2005, and 77% of the fund is currently invested in the utility sector. The fund offers dividends quarterly in March, June, September and December. The fund invests in domestic and foreign issuers. FIUIX primarily invests in common stocks, with at least 80% of assets in securities of utility companies. Mutual funds, in general, reduce transaction costs and diversify portfolios without an array of commission charges that are mostly associated with stock purchases (read more: Mutual Funds: Advantages, Disadvantages, and How They Make Investors Money).įidelity Telecom and Utilities Fund FIUIX seeks high total return through current income generation and capital appreciation. Hence, astute investors should consider such funds at present. In summary, utility mutual funds provide much-required stability in a market that is expected to remain volatile for a while. Investors can thus opt for utility mutual funds in an environment where the government of the day is looking to invest in the sector. The utility industry has an opportunity to set right its long-overdue grid modernization and clean energy efforts by using the funds allocated in the Infrastructure Investment and Jobs Act, which includes $65 billion earmarked for upgrading the national power infrastructure. President Joe Biden, in a 2020 policy announcement, has set a target of achieving a 100% clean energy economy and net-zero greenhouse gas emissions by 2050, committing nearly $2 trillion in investment to achieve this goal. Being defensive in nature, the sector has not been affected by the vagaries of a market downturn. As of September 2022, the Utilities Select Sector SPDR (XLU) jumped 5.5% in the last 12 months. Dividend yields on utility stocks are usually higher than those paid by other equities.Īside from energy, which has seen a rapid rise during the supply-side crisis, utilities has been the only broad sector of the economy which has grown over the last year.
Utilities have a reputation for being stable investments that provide a regular dividend to shareholders, making them a popular long-term buy-and-hold option. The demand for essential services, such as those provided by utilities, is often shielded from market volatility. Utility mutual funds are used as defensive instruments, which protect investments during a market downturn.
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