Wells Fargo Advantage Funds has allocated more than $121.5 billion (excluding money market assets) of assets from diverse mutual funds categories. Wells Fargo manages more than 110 mutual funds, varying from domestic and foreign funds to money market funds, asset allocation funds and fixed-income funds. The Wells Fargo Fund family claims that it offers “funds in every key category, each guided by skillful investment teams who have been chosen because of their proven, time-tested strategies.” The team also helps investors to clarify their investment ideas and identifies their “risk tolerance.”

Additionally, the owner of Wells Fargo Advantage Funds brand, Wells Fargo, is one of the top four banks in the U.S. and has been maintaining its standard in the financial services sector for more than 150 years. It is a highly diversified financial services company with operations not only limited to the domestic market. In 2010, the Boards of Trustees of Wells Fargo Advantage Funds and Evergreen Funds had approved the merger of the fund families to create the new fund lineup under the Wells Fargo Advantage Funds brand.

Below we share with you three top-rated Wells Fargo Advantage 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 Wells Fargo Advantage Funds, investors can click here to see the complete list of Wells Fargo Advantage Funds.

Wells Fargo Core Bond R6 (WTRIX - MF report) seeks total return through growth of capital and income. WTRIX invests a major portion its assets in bonds that are rated investment-grade. The fund may invest a maximum of a quarter of its assets in asset-backed securities, which are not from the mortgage-backed category. Also, nearly 20% of WTRIX’s assets are expected to be invested in foreign debt securities that are denominated in dollar. The fund is expected to maintain a dollar-weighted average effective duration of not more than 10% of that of its benchmark. Wells Fargo Core Bond R6 has returned 4.16% year to date.

WTRIX has an expense ratio of 0.37% as compared to the category average of 0.82%.

Wells Fargo High Income A (SHBAX - MF report) invests the lion’s share of its assets in debt securities that are rated lower than investment-grade. Not more than 30% of SHBAX’s assets are expected to be invested in dollar-denominated foreign debt securities. SHBAX invests one-fifth of its assets in convertible debt securities and equities and one-tenth of its assets in defaulted debt securities. Also, SHBAX invests mainly in "junk bonds" or securities which are "high-yield." Wells Fargo High Income A has returned 5.95% year to date.

As of April 2016, SHBAX held 112 issues with 3.12% of its assets invested in SPDR Barclays High Yield Bond ETF.

Wells Fargo High Yield Bond A (EKHAX - MF report) seeks total return with high capital and income appreciation. EKHAX invests its assets not only in securities of domestic and foreign companies but also in emerging markets. The fund invests more than 80% of its assets in debt securities that are rated below investment-grade. EKHAX does not manage its portfolio for a specific duration. Wells Fargo High Yield Bond A has returned 6.48% year to date.

Margaret D. Patelis the fund manager of EKHAX since Aug 2012.