Large-cap funds are considered prudent choices for risk-averse investors when compared to their small and mid-cap counterparts. These funds have exposure to large-cap stocks, with a long-term performance history and offer more stability than mid or small caps. Companies with market capitalization of more than $10 billion are generally considered large cap. However, due to their significant international exposure, large-cap companies might be affected by a global downturn.

Meanwhile, investors looking for a bargain, i.e., stocks trading at a discount, are mostly interested in value funds, which pick stocks that tend to trade at a price lower than their fundamentals (i.e. earnings, book value, debt-equity) and pay out dividends. In the long run, value stocks are expected to outperform the growth ones across all asset classes and are less vulnerable to trending markets. However, investors interested in choosing value funds for yield should check the mutual fund yield as not all value funds comprise solely companies that primarily use their earnings to pay out dividends.

Below we share with you three top-ranked, large-cap value mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future.

Thrivent Large Cap Value S (TLVIX - Free Report) invests a major portion of its assets in equity securities of large-cap companies. The fund advisor focuses on investing in both U.S. and non-U.S. large-cap companies that have market-cap similar to those included on the MSCI USA Large Cap Index, the S&P 500 Index and market-cap categories put out by Lipper, Inc. Thrivent Large Cap Value S has three-year annualized returns of 9.6%.

Kurt J. Lauber is the fund manager of TLVIX since 2013.

Vanguard Value Index Investor (VIVAX - Free Report) invests nearly all its assets in stocks of companies that are on the CRSP US Large Cap Value Index. VIVAX seeks to replicate the performance of the index by investing a proportion of its assets in each stock as its weighting in the index. The Vanguard Value Index Investor fund has three-year annualized returns of 10.2%.

VIVAX has an expense ratio of 0.17% compared with a category average of 1.00%.

TIAA-CREF Large-Cap Value Premier (TRCPX - Free Report) invests a large chunk of its assets in equity securities of large-cap companies, which are expected to be undervalued. TRCPX seeks a high level of returns primarily through growth of capital. The fund invests in companies as defined by the fund's benchmark Russell 1000 Value Index. TIAA-CREF Large-Cap Value Premier has one-year annualized returns of 6.6%.

As of May 2018, TRCPX held 173 issues, with 3.6% of its assets invested in Bank of America Corporation.