Risk lovers seeking to derive healthy return in a fairly longer investment horizon may opt for technology mutual funds. It is believed that the technology sector is poised for brighter earnings performance compared to other sectors due to higher demand for technology and innovation. Though the sector is likely to experience more volatility than others in the short term, the extent of volatility is believed to decline over a longer time horizon.

Meanwhile, most of the mutual funds investing in securities from these sectors opt for a growth oriented approach that includes focusing on strong fundamentals of companies and a relatively higher investment horizon. Moreover, technology has come to have a broader meaning than just hardware and software companies. Social media and "Internet" companies are now a part of the technology landscape.

Below we share with you 5 top-rated technology mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. To view the Zacks Rank and past performance of all technology mutual funds, investors can click here to see the complete list of technology mutual funds .

FSCSX, MTCAX, DTGRX, PRMTX

Fidelity Select Software & Comp Portfolio (FSCSX - MF report) invests a lion’s share of its assets in companies whose primary operations are related to software or information-based services. FSCSX primarily focuses on acquiring common stocks of both domestic and foreign companies. FSCSX uses fundamental analysis to select companies for investment purposes. The Fidelity Select Software & Comp Portfolio is a non-diversified fund and has a year-to-date return of 12.4%.

FSCSX has an expense ratio of 0.77% as compared to the category average of 1.43%.

MFS Technology A (MTCAX - MF report) seeks growth of capital. MTCAX invests a large chunk of its assets in securities of companies involved in operations related to products and services that are believed to benefit from advancement and improvement of technology. MTCAX invests in securities issued throughout the globe including those from emerging markets. The MFS Technology A is a non-diversified fund and has a year-to-date return of 12.3%.

As of October 2015, MTCAX held 117 issues with 11.59% of its assets invested in Alphabet Inc Class A.

T. Rowe Price Media & Telecommunications (PRMTX - MF report) invests a major portion of its assets in securities of companies involved in operations related to media and telecommunications. PRMTX primarily invests in common stocks of large- and mid-cap companies. The T. Rowe Price Media & Telecommunications fund has a year-to-date return of 13.6%.

Paul D. Greene II is the fund manager of PRMTX since 2013.

Dreyfus Technology Growth A (DTGRX - MF report) seeks capital growth over the long run. DTGRX invests the majority of its assets in securities of technology companies that are believed to have impressive growth prospect. Companies with strong earnings or revenue growth paces are the main focus of DTGRX’s advisors. DTGRX may invest a maximum of a quarter of its assets in securities of companies located in foreign lands. The Dreyfus Technology Growth A fund has a year-to-date return of 8.5%.

As of October 2015, DTGRX held 31 issues with 6.79% of its assets invested in Amazon.com Inc.

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