15 Largest Mutual Funds in the US [Update 2024]

Largest Mutual Funds in the US

The most significant mutual funds have trillions in assets under management (AUM), in addition to cheaper expense ratios, which may improve performance over time. A mutual fund collects different ingredients – in this case, different types of investments such as stocks and bonds.

In addition, the biggest mutual funds provide admittance to premiere money supervisors who are specialized in maximizing your investments but keep a high fee in return.

Here is my list of the largest mutual funds in the US.

1. BlackRock Funds (Assets Under Management: $9,000.00)

BlackRock is an international investment management firm based in the United States and is the world’s first investment firm to surpass the $9 trillion milestones in AUM (Assets Under Management). BlackRock works on a worldwide scale, with 70 offices in 30 countries and clients in 100.

2. Vanguard (Assets Under Management: $7,200.00)

Vanguard is one of the world’s most comprehensive investment corporations, offering a large preference of low-cost mutual funds, ETFs, advice, and detailed services.The Vanguard Group, Inc. is a registered investment manager located in Malvern, Pennsylvania, managing over $6.2 trillion in worldwide assets as of January 31, 2020.

It is the world’s largest supplier of mutual funds and the world’s second-biggest supplier of exchange-traded funds (ETFs), trailing only BlackRock’s iShares.

3. Charles Schwab (Assets Under Management: $7,070.00)

The Charles Schwab Corporation is a worldwide financial services firm based in the United States. It provides personal banking, commercial banking, an electronic trading platform, and wealth management advisory services. It is the world’s third-largest asset manager, after BlackRock and Vanguard. Till October 31, 2020, it has 29.0 million active brokerage accounts and $5.9 trillion in customer assets. Its headquarters are in Westlake, Texas.

4. Fidelity Investments (Assets Under Management: $3.800.00)

Fidelity Investments Inc., also known as Fidelity and formerly known as Fidelity Management & Research or FMR, is an American international financial services firm headquartered in Boston, Massachusetts. The firm was founded in 1946 and is now one of the world’s top asset managers, with $4.9 trillion in assets under management as of June 2020.

5. State Street Global Advisors (Assets Under Management: $3,500.00)

Based in Massachusetts, United States, State Street Global Advisors (SSGA) is an investment management branch and the world’s fifth-biggest asset manager, with roughly $3.59 trillion (USD) in assets under management as of March 31, 2021.

The firm provides financial services to customers worldwide by developing and managing investment strategies for governments, businesses, endowments, non-profit foundations, and other intermediaries. The corporation owned and operated 142 exchange-traded funds (ETFs) as of March 2021.

6. JP Morgan (Assets Under Management: $2,800.00)

J.P. Morgan & Co. was a commercial and investment banking firm formed in 1871 by J. P. Morgan. The firm was a forerunner of three of the world’s major financial firms — JPMorgan Chase, Morgan Stanley, and Deutsche Bank. J.P. Morgan has become a brand name for JPMorgan Chase’s investment banking businesses. Its AUM is valued at 2.8 trillion dollars.

7. Capital Group (Assets Under Management: $2,300.00)

Capital Group is a financial services firm in the United States. Of over $2 trillion in assets under administration, it is one of the world’s oldest and largest investment management firms. It was established in Los Angeles, California, in 1931 and is privately held.

8. BNY Mellon (Dreyfus) (Assets Under Management: $2,200.00)

The Bank of New York Mellon Corporation, abbreviated as BNY Mellon, is a New York-based investment banking services holding corporation. In 2007, The Bank of New York and Mellon Financial Corporation merged to establish BNY Mellon. In 2020, it was the world’s largest custodian bank and asset servicing provider, with $2.0 trillion in assets under management.

9. Prudential Investments (Assets Under Management: $1,721.00)

Prudential Financial, Inc. is an American corporation whose businesses offer insurance, corporate finance, and other financial goods and services to private and commercial clients in the United States and more than 40 countries. Prudential Financial is the largest insurance firm in the United States, with over 1.456 trillion US dollars in assets.

10. T Rowe Price (Assets Under Management: $1,700.00)

Rowe Price Group, Inc. is a publicly traded worldwide investment management organization based in the United States that provides funds, advisory services, account management, and retirement funds and services to people, organizations, and financial institutions. The business, which had more than $1.3 trillion in assets under control at the end of 2019, is headquartered at 100 East Pratt Street in Baltimore, Maryland, and it’s 16 foreign office serves clients in 47 countries across the world.

11. Franklin Templeton (Assets Under Management: $1,498.00)

Franklin Resources Inc. is an American international holding company that, along with its subsidiaries, is known as Franklin Templeton. in 1947, this global investment corporation started as Franklin Distributors, Inc. in New York City. Franklin Templeton managed $1.498 trillion in assets under management (AUM) on behalf of private, professional, and institutional clients as of February 28, 2021.

12. BofA Merrill Lynch (Assets Under Management: $1,400.00)

Merrill, formerly Merrill Lynch, is a Bank of America investment and wealth management company. Together with its investment banking branch, both organizations, BofA Securities, participate in prime brokerage and broker-dealer operations. It is located in New York City. As of March 31, 2021, it managed $1.4 trillion in AUM.

13. Invesco (Assets Under Management: $1,391.50)

Invesco Ltd. is an American multinational investment management firm based in Atlanta, Georgia, with office locations in 20 countries. Its common stock is included in the S&P 500 and is traded on the New York Stock Exchange. Its AUM is $1.39 trillion on February 28, 2021.

14. Natixis Global Associates (Assets Under Management: $1,387.70)

is a multinational asset management firm established in the United States and France with $1387.7 trillion in assets under management as of December 31, 2020. The firm is headquartered in Paris and Boston, and it is the second-largest French manager in terms of market share.

15. Nuveen (Assets Under Management: $1,259.00)

Nuveen is an American asset manager and a wholly-owned subsidiary of the financial planning business TIAA, which is well-known for managing money for not-for-profit institutions such as colleges and their workers. As a result of years of integration efforts, Nuveen currently manages all of TIAA’s capital and any money obtained from other parties. It secured $1259 trillion as of December 31, 2020.

This article will help you If you’re interested in learning more about investing in mutual funds. With thousands of mutual funds to select from, whatever your investment tastes may be, chances are there’s a different flavor to match. But all this variety can make it even harder to find the most suitable mutual fund for you.

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