10 Largest U.S. Mutual Funds by Total Assets

patrick_masterworks
March 8, 2022

This article is provided for information and educational purposes only. It is not intended to be investment advice and should not be used to form the basis of an investment decision. 

A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities. Below are the 10 largest mutual funds available to U.S. residents by total assets, according to Morningstar, as of March 4, 2022. Of the 10 included in the list, 5 are predominantly equity funds, 2 are bonds funds, and 3 are money market funds. 

1. Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX)

Total Assets ($ millions):  1,308,922

Asset Class: Domestic Equities

Description: According to Vanguard, the fund is designed to provide exposure to the entire U.S. equity market. The fund has a stated expense ratio of .04% as of April 29, 2021. Fund document’s state that the 10 year, quarter end average annual return as of December 31, 2021 is 16.29%. 

2. Vanguard 500 Index Fund Admiral Shares (VFIAX)

Total Assets ($ millions): 816,307

Asset Class: Domestic Equities

Description: According to Vanguard, the fund is designed to provide diversified exposure to the U.S. equity market through investments in the largest 500 U.S. companies. The fund has a stated expense ratio of .04% as of April 29, 2021. Fund document’s state that the 10 year, quarter end average annual return as of December 31, 2021 is 16.51%.

3. Vanguard Total International Stock Index Fund Admiral Shares (VTIAX)

Total Assets ($ millions): 407,995

Asset Class: Global Equities

Description: According to Vanguard, the fund is designed to provide exposure to equities in both developed and emerging international economies, tracking global stock markets outside the U.S. The fund has a stated expense ratio of .11% as of February 25th, 2022. Fund document’s state that the 10 year, quarter end average annual return as of December 31, 2021 is 7.68%.

4. Fidelity® 500 Index Fund (FXAIX)

Total Assets ($ millions): 399,363

Asset Class: Domestic Equities

Description: According to Fidelity, the fund is designed to provide investment results that correspond to the total return of U.S. publicly traded common stocks. The fund has a stated expense ratio of .015% as of April 29, 2021. Fund document’s state that the 10 year, quarter end average annual return as of December 31, 2021 is 16.54%.

5. Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX)

Total Assets ($ millions): 312,467

Asset Class: U.S. Investment Grade Bonds

Description: According to Vanguard, the fund is designed to provide broad exposure to U.S. investment-grade bonds by investing in U.S. Treasuries and mortgage-backed securities. The fund has a stated expense ratio of .05% as of April 29, 2021. Fund document’s state that the 10 year, quarter end average annual return as of December 31, 2021 is 2.86%.

6. American Funds: The Growth Fund of America ® (CGFAX)

Total Assets ($ millions): 292,071

Asset Class: Growth Assets

Description: According to Capital Group, the fund seeks growth of capital via investments in domestic and international growth stocks, cyclical companies, turnarounds, and asset classes outside of stocks. The fund has a stated expense ratio of .65% as of November 1, 2021. Fund document’s state that the 10 year, quarter end average annual return as of December 31, 2021 is 17.42%.

7. JPMorgan U.S. Government Money Market Fund (MJGXX)

Total Assets ($ millions): 259,896

Asset Class: U.S. Government Money Market 

Description: According to J.P. Morgan, the fund seeks current income with liquidity and stability of principal by exclusively investing in high-quality, short-term securities that are issued or guaranteed by the U.S. government or by U.S. government agencies. The fund has a stated expense ratio of .59% as of November 1, 2021. Fund document’s state that the 10 year, quarter end average annual return as of December 31, 2021 is .36%.

8. Fidelity® Government Money Market Fund (SPAXX)

Total Assets ($ millions): 256,044

Asset Class: U.S. Government Money Market 

Description: According to Fidelity, the fund seeks current income with liquidity and preservation of capital by investing “at least 99.5% of the fund’s total assets in cash, U.S. Government securities and/or repurchase agreements that are collateralized fully.” The fund has a stated expense ratio of .42% as of June 29, 2021. Fund document’s state that the 10 year, quarter end average annual return as of December 31, 2021 is .42%.

9. Vanguard Total Bond Market II Index Fund (VTBNX)

Total Assets ($ millions): 249,597

Asset Class: U.S. Investment Grade Bonds

Description: According to Vanguard, the fund is designed to provide broad exposure to U.S. investment-grade bonds, keeping pace with U.S. bond market returns. The fund has a stated expense ratio of .02% as of April 29, 2021. Fund document’s state that the 10 year, quarter end average annual return as of December 31, 2021 is 2.81%. 

10. Fidelity® Government Cash Reserves (FDRXX)

Total Assets ($ millions): 229,915

Asset Class: U.S. Government Money Market 

Description: According to Fidelity, the fund seeks current income with liquidity and preservation of capital by investing “at least 99.5% of the fund’s total assets in cash, U.S. Government securities and/or repurchase agreements that are collateralized fully.” The fund has a stated expense ratio of .33% as of January 29, 2021. Fund document’s state that the 10 year, quarter end average annual return as of December 31, 2021 is .44%.


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