Wells Fargo, the owner of Wells Fargo Advantage Funds brand, is one of the four largest banks in the United States with a legacy spanning 150 years in the financial services sector. Wells Fargo had over $476 billion of assets as of Mar 31, 2019, which includes $92 billion from Galliard Capital Management. Wells Fargo Advantage Funds diversifies its assets across a wide range of mutual fund categories. These include both domestic and foreign funds, asset allocation funds and fixed-income funds.
In 2010, the boards of trustees of Wells Fargo Advantage Funds and Evergreen Funds had approved the merger of the fund families to create a new fund line-up, under the brand name Wells Fargo Advantage Funds. The Wells Fargo fund family claims that “each fund is guided by a premier investment team chosen for its focused attention to a particular investment style. There’s a fund to meet the investment goals and risk tolerance of almost any investment portfolio.”
Below we share with you three top-ranked Wells Fargo Advantage Funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. Investors can click here to see the complete list of Funds.
Wells Fargo Discovery Fund Class R6 (WFDRX – Free Report) seeks long-term capital appreciation. The fund invests the majority of its assets in equity securities of small- and medium-capitalization companies. The fund may also invest a quarter of its total assets in equity securities of foreign issuers through American Depository Receipts and other such investments. WFDRX has returned 40.8% on a year-to-date basis.
WFDRX has an expense ratio of 0.78% compared with the category average of 1.17%.
Wells Fargo International Bond Fund Class R6 (ESIRX – Free Report) aims for total return. The fund invests the majority of its assets in foreign debt securities. These may comprise obligations of governments, corporate bodies or supranational agencies, spread across a range of currencies. ESIRX has returned 6.4% on a year-to-date basis.
As of Jun 2019, ESIRX held 104 issues with 10.79% of its assets invested in Eurico Ferreira S.A. 0%.
Wells Fargo Precious Metals Fund Class A (EKWAX – Free Report) aims for capital growth over a long period. The fund invests most of its assets in precious metal-related investments. These tend to be companies that are engaged in the exploration, development, mining, processing or dealing of gold and other precious metals and minerals. EKWAX has returned 27.7% on a year-to-date basis.
Michael P. Bradshaw is one of the fund managers of EKWAX since 2007.
To view the Zacks Rank and past performance of all Wells Fargo Advantage Funds, investors can click here to see the complete list of funds.
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