investors who are bullish about this category. But for investors seeking aggressive growth over the long term, mutual funds that focus on technology and innovation could be a prudent option in times to come.

Below we will share with you the 5 best performing technology mutual funds year to date. To view the Zacks Rank and past performance of all technology funds, then click here.

Red Oak Technology Select (NASDAQ:ROGSX - News) invests a large share of its assets in companies that utilize technology extensively in product development or operations or which expect to profit from technological progress. The fund focuses on acquiring common stocks. This technology mutual fund returned 9.35% in the last one year period.

The technology mutual fund has a minimum initial investment of $2,000 and an expense ratio of 1.35% compared to a category average of 1.62%.

MFS Technology A (NASDAQ:MTCAX - News) seeks capital growth. The fund invests the majority of its assets in companies which produce or utilize products, processes and services which stand to gain substantially from technological developments. It purchases both domestic and foreign stocks, including emerging market equity securities. This technology mutual fund has a three year annualized return of 29.31%.

The fund manager is Matthew Sabel and he has managed this technology mutual fund since 2011.

Fidelity Select Software & Computer Services (NASDAQ:FSCSX - News) invests a large share of its assets in companies whose principal operations are related to software and information-based services. The fund is non-diversified and may invest in foreign securities. This technology mutual fund is non-diversified and has returned 9.99% in the last one year period.

As of November 2011, this technology mutual fund held 128 issues, with 10.02% of its total assets invested in Microsoft Corporation.

Vanguard Information Technology Index (NASDAQ:VITAX - News) seeks to mimic the performance of the MSCI US Investable Market Information Technology 25/50 Index. The fund invests almost all its assets in equity securities which are included in the index. This technology mutual fund has a five year annualized return of 3.81%.

The technology mutual fund has an expense ratio of 0.19% compared to a category average of 1.62%.

HighMark NYSE ArcaTech 100 Index A (NASDAQ:PPTIX - News) invests almost all its assets in securities which make up the NYSE Arca Tech 100 Index. The fund seeks to replicate the total return of the index. It may invest 5% of its assets in cash and cash equivalents. This technology mutual fund has a ten year annualized return of 4.39%.

The fund manager is Donald J. Nesbitt and he has managed this technology mutual fund since 2009.

To view the Zacks Rank and past performance of all technology mutual funds, then click here.

About Zacks Mutual Fund Rank

By applying the Zacks Rank to mutual funds, investors can find funds that not only outpaced the market in the past but are also expected to outperform going forward. Learn more about the Zacks Mutual Fund Rank at http://www.zacks.com/funds.

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