3 Energy Mutual Funds to Buy Amid Rising Global Uncertainty

Geopolitical tensions are pushing investors to reassess portfolios, with energy mutual funds gaining attention amid heightened uncertainty. Conflicts involving Russia and Ukraine, Israel and Hamas, and tensions in the Middle East have raised concerns about energy supply and global markets.

Energy mutual funds provide diversified exposure to companies across the energy sector, offering investors a way to participate in potential shifts in energy prices and demand without relying on a single stock. Geopolitical developments can continue to influence the sector’s outlook. As uncertainty persists, investors may increasingly view energy-focused funds as a portfolio diversification option. So, investing in funds with exposure to energy equities is expected to help in the near term.

Below, we share with you three top-ranked energy mutual funds, viz., T. Rowe Price New Era PRNEX, Invesco SteelPath MLP Select 40 MLPFX and Vanguard Energy Opportunities VGENX. Each has a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. Investors can click here to see the complete list of energy mutual funds.

T. Rowe Price New Era generally allocates most assets to natural resource stocks, which can gain from rising inflation, while also holding select growth companies without direct resource ownership.

T. Rowe Price New Era has three-year annualized returns of 11.1%. As of March 2026, PRNEX held 119 issues, with 5.1% of its assets invested in Exxon Mobil.

Invesco SteelPath MLP Select 40 focuses mainly on master limited partnerships (MLPs) and related securities. Its investments center on companies involved in transporting, storing, processing, refining, marketing, exploring, producing and mining activities tied to minerals and natural resources, aiming to capture growth across the energy value chain.

Invesco SteelPath MLP Select 40 has three-year annualized returns of 24.8%. Stuart Cartner has been one of the fund managers of MLPFX since 2010.

Vanguard Energy Opportunities primarily invests in energy-related companies involved in exploration, production, transmission, services, research, conservation and pollution control, and is non-diversified.

Vanguard Energy Opportunities has three-year annualized returns of 19.1%. VGENX has an expense ratio of 0.45%.

To view the Zacks Rank and the past performance of all energy mutual funds, investors can click here to see the complete list of energy mutual funds.

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