Many market pundits, in the past several weeks, have questioned whether Internet and technology behemoths have more room to run as they were end of a major multiyear rally. FANG stocks, especially, have come under heavy gyration this year. However, the strength in FANG stocks got validation following Facebook’s strong quarterly results.

But, why just Facebook? Amazon and Netflix have also performed incredibly well. Amazon’s first-quarter profits more than doubled from year-ago levels, while sales continued to gain on an increase in Prime subscription prices. The Prime membership service reached 100 million subscribers after adding the highest number of members in 2017. In fact, the total count of Amazon Web Services active users, including the Prime numbers, was up 250% last year (read more: Amazon’s Retail & Budding Web Services Make It a Real Deal).

While Amazon’s shares have rallied more than 30% so far this year, Netflix has doubled that. And it’s partly because of its strong quarterly performance. Netflix posted $290.1 million in net income in the first quarter, higher than the profits generated by the streaming giant in the entire year of 2016. And if the company is able to meet its forecasted $358-million profit in the second quarter, it will be able to earn more than what it generated in 2017. An expanding customer base along with higher prices for the streaming service gave a boost to Netflix’s revenues (read more: Netflix Subscriber Growth Breezes Past Estimates! Snap It Up).

Google, whose parent company is Alphabet, saw its earnings jump more than 70% in the first quarter even though capital outlays tripled from the year before. Earnings jumped on a change in accounting policy that compelled it to recognize the value of its stake in Uber (read more: Alphabet Q1 Earnings & Revenues Beat Estimates).

FANG’s Stellar Results Put Spotlight on 3 Mutual Funds

Taking FANG’s encouraging quarterly results into consideration, it will be prudent to invest in technology mutual funds with a major holding in such stocks. These funds also possess a Zacks Mutual Fund Rank #1 (Strong Buy) or 2 (Buy), have positive 3-year and 5-year annualized returns, minimum initial investments within $5000 and carry low expense ratios (read more: Mutual Fund Pitfalls, Mind the Expense Ratio).

But, why choose mutual funds over stocks? This is because funds reduce transaction costs for investors. Funds also diversify their portfolio without the numerous commission charges that stocks need to bear (read: The Advantages Of Mutual Funds).

Columbia Global Technology Growth A CTCAX invests the majority of its net assets in equity securities of technology companies that may benefit from technological improvements, advancements or developments. CTCAX’s 3-year and 5-year annualized returns are 22.1% and 24.5%, respectively. CTCAX carries a Zacks Mutual Fund Rank #1. Annual expense ratio of 1.32% is lower than the category average of 1.37%. CTCAX has considerable exposure to companies like Facebook, Amazon and Alphabet.

Dreyfus Technology Growth A DTGRX invests a large portion of its net assets, plus any borrowings for investment purposes, in the stocks of growth companies of any size that the adviser believes to be leading producers or beneficiaries of technological innovation. DTGRX’s 3-year and 5-year annualized returns are 17.7% and 18.1%, respectively. DTGRX carries a Zacks Mutual Fund Rank #1. Annual expense ratio of 1.26% is lower than the category average of 1.37%. DTGRX has significant exposure to companies like Facebook, Amazon, Netflix and Alphabet.

Janus Henderson Global Technology A JATAX pursues its investment objective by investing the majority of its net assets in securities of companies that the portfolio managers believe will benefit significantly from advances or improvements in technology. JATAX’s 3-year and 5-year annualized returns are 21.3% and 20.6%, respectively. JATAX carries a Zacks Mutual Fund Rank #1. Annual expense ratio of 1.03% is lower than the category average of 1.37%. JATAX has considerable exposure to companies like Facebook and Alphabet.

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