When I’m building long-term wealth, growth stock mutual funds are one of my favorite tools. They focus on companies that are expanding fast—those with rising revenues, strong earnings potential, and high reinvestment in innovation. Sure, they come with volatility, but over 10+ years, they’ve outperformed many other investment types. So when I want compounding to work in my favor, this is where I look.
Here’s a full list of 12 growth stock mutual funds I’d consider today—based on long-term performance, manager quality, risk-adjusted returns, and cost. I’ve mixed in large-cap, mid-cap, and small-cap options, so you can build a full growth-oriented allocation depending on your risk tolerance.
Table of Contents
1. Fidelity Contrafund (FCNTX)
- Category: Large Growth
- 10-Year Avg Return: ~13.0%
- Expense Ratio: 0.82%
- Why I like it: This fund focuses on companies that are undervalued growth—not just flashy tech names. It has a long history, great management, and solid downside protection. It’s one of Fidelity’s flagship funds and has held names like Meta, Amazon, and Berkshire Hathaway.
2. T. Rowe Price Blue Chip Growth (TRBCX)
- Category: Large Growth
- 10-Year Avg Return: ~14.1%
- Expense Ratio: 0.69%
- Why I like it: It balances high-growth megacaps with steady large-caps. You get companies like Apple, Microsoft, and Visa. The fund is known for disciplined management and consistently ranks in the top performance quartile.
3. Vanguard Growth Index Fund (VIGRX)
- Category: Large Growth (Passive)
- 10-Year Avg Return: ~14.0%
- Expense Ratio: 0.28%
- Why I like it: This is a low-cost index fund that tracks the CRSP US Large Cap Growth Index. It gives me diversified exposure to growth without relying on a manager’s bets. I often use it as a growth core holding.
| Metric | FCNTX | TRBCX | VIGRX |
|---|---|---|---|
| Style | Active | Active | Index |
| Holdings | ~400 | ~100 | ~250 |
| Top Sectors | Tech, Comms | Tech, Health | Tech, Consumer |
| Yield | ~0.3% | ~0.2% | ~0.4% |
4. American Funds Growth Fund of America (AGTHX)
- Category: Large Growth
- 10-Year Avg Return: ~12.7%
- Expense Ratio: 0.61% (A shares)
- Why I like it: Actively managed but with a team approach. This fund has exposure to global tech and U.S. growth leaders. It spreads risk across multiple managers who each run a slice of the fund independently.
5. Vanguard U.S. Growth Fund (VWUSX)
- Category: Large Growth
- 10-Year Avg Return: ~14.3%
- Expense Ratio: 0.38%
- Why I like it: This is an actively managed growth fund with a relatively low cost. It has a slightly more aggressive style than VIGRX, and often tilts toward newer high-momentum companies.
6. Fidelity Growth Company Fund (FDGRX)
- Category: Large Growth
- 10-Year Avg Return: ~16.0%
- Expense Ratio: 0.82%
- Why I like it: This is one of the most aggressive large growth funds around. The manager is bold, and it tends to hold fast-growing tech and biotech. It’s volatile but has outpaced many other growth funds over long periods.
7. T. Rowe Price New Horizons (PRNHX)
- Category: Small Growth
- 10-Year Avg Return: ~13.5%
- Expense Ratio: 0.77%
- Why I like it: This fund focuses on early-stage innovators. It invests in small-cap and mid-cap stocks with explosive growth potential. It’s not cheap, but it delivers.
8. Vanguard Explorer Fund (VEXPX)
- Category: Small Growth
- 10-Year Avg Return: ~11.6%
- Expense Ratio: 0.45%
- Why I like it: This is Vanguard’s flagship small-cap growth fund. It uses multiple subadvisors, which means diversified active management. It’s more conservative than PRNHX but still aggressive.
9. Fidelity Mid-Cap Stock Fund (FMCSX)
- Category: Mid-Cap Growth
- 10-Year Avg Return: ~12.8%
- Expense Ratio: 0.79%
- Why I like it: Mid-cap growth offers a sweet spot: more upside than large caps, less volatility than small caps. This fund consistently finds under-the-radar winners in healthcare, software, and consumer products.
10. JPMorgan Mid Cap Growth Fund (FLGEX)
- Category: Mid-Cap Growth
- 10-Year Avg Return: ~13.2%
- Expense Ratio: 0.74%
- Why I like it: It leans into quality mid-cap names with strong earnings trends. Think of it as a sharper, more focused version of a mid-cap index fund. It’s often overlooked but well-managed.
11. Invesco Discovery Mid Cap Growth Fund (ACPGX)
- Category: Mid-Cap Growth
- 10-Year Avg Return: ~12.9%
- Expense Ratio: 0.85%
- Why I like it: It’s one of the top mid-cap growth funds over the last decade. The portfolio has a healthy mix of software, medtech, and industrial innovators.
12. Baron Growth Fund (BGRFX)
- Category: Small/Mid-Cap Growth
- 10-Year Avg Return: ~13.4%
- Expense Ratio: 1.30%
- Why I like it: Expensive, but one of the most consistent growth funds out there. The manager invests long term—often 5+ years—and looks for exceptional businesses, not just cheap ones.
Comparison Table
| Fund | Category | Avg Annual Return (10Y) | Expense Ratio | Style |
|---|---|---|---|---|
| FCNTX | Large Growth | ~13.0% | 0.82% | Active |
| TRBCX | Large Growth | ~14.1% | 0.69% | Active |
| VIGRX | Large Growth | ~14.0% | 0.28% | Index |
| AGTHX | Large Growth | ~12.7% | 0.61% | Active |
| VWUSX | Large Growth | ~14.3% | 0.38% | Active |
| FDGRX | Large Growth | ~16.0% | 0.82% | Active |
| PRNHX | Small Growth | ~13.5% | 0.77% | Active |
| VEXPX | Small Growth | ~11.6% | 0.45% | Active |
| FMCSX | Mid Growth | ~12.8% | 0.79% | Active |
| FLGEX | Mid Growth | ~13.2% | 0.74% | Active |
| ACPGX | Mid Growth | ~12.9% | 0.85% | Active |
| BGRFX | Small/Mid | ~13.4% | 1.30% | Active |
Final Thoughts
When I invest in growth mutual funds, I’m looking 10+ years out. I don’t expect smooth sailing, but I do expect compounding to pay off big if I stay consistent. These 12 funds give me access to every part of the growth spectrum—from mega-cap innovators to small-cap disruptors.
Personally, I like combining a core passive fund like VIGRX with a few active satellites like FDGRX or PRNHX. That way I get steady exposure to the growth theme, but I also give skilled managers room to add alpha.
