Experts at the SEC recommend that before you invest in a mutual fund, you should not focus entirely on a fund’s past performance. Compare such factors as the fund’s sales charges (fees or loads), tax implications as it generates gains (or losses), the size of the fund, how many years the fund has been in operation, the risks and volatility of the fund, and any recent changes to the fund’s management or trading and investing goals. You can discover this information by scrutinizing the fund’s prospectus and annual (or quarterly) reports, and by using reports published by mutual funds rating research organizations.