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Risky Large Blend Fund Is Excellent for Those With Patience

Silver-rated Fidelity Large Cap Stock is led by a veteran with an unwavering process.


Robby Greengold: Fidelity Large Cap Stock benefits from veteran leadership, a disciplined investment approach, and superior returns over the long haul that form the basis of a Morningstar Analyst Rating of Silver. 

Portfolio manager Matt Fruhan has been in charge of this strategy for over a decade, and his process has been unwavering. He tries to cut through the noisiness of short-term market movements by investing in companies he believes are worthwhile long-term holdings. He scours the market for cyclical opportunities, where Wall Street's outlook for a downtrodden stock is undeservedly gloomy, and secular opportunities, where the market consensus underprices a stock's multiyear growth prospects. 

His process requires the tenacity to hold stocks as the market sells them and sometimes the audacity to buy more as stocks become better bargains. For that reason, the fund tends to experience relatively high volatility, often faring worse than its benchmark during market pullbacks, but thriving during market rallies.

This fund takes risks and requires a long time horizon, but for patient investors, it remains an excellent option.

Robby Greengold does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.