Blend funds are known as ’hybrid funds’. Blend funds aim for value appreciation by capital gains. It owes its origin to a graphical representation of a fund’s equity style box. In addition to diversification, blend funds are great picks for investors looking for a mix of growth and value investment. Meanwhile, a mid-cap blend fund is a type of equity mutual fund which holds in its portfolio a mix of value and growth stocks, where the market capitalization of the stocks is generally between $2 billion and $10 billion.

Below we will share with you 3 top-rated mid-cap blend mutual funds. Each has earned a Zacks #1 Rank (Strong Buy) as we expect these mutual funds to outperform their peers in the future. To view the Zacks Rank and past performance of all mid-cap blend funds, investors can click here to see the complete list of funds.

Hodges Retail (HDPMX - MF report) invests in common stocks of companies of any market capitalization including medium-sized companies. HDPMX may also invest in money market instruments. HDPMX purchases put and call options on domestic traded stocks or security indices. HDPMX also sells options and write "covered" call options. HDPMX seeks long-term growth of capital. The Hodges Retail fund has a three-year annualized return of 19.1%.

As of September 2015, HDPMX held 41 issues, with 12% of its total assets invested in Texas Pacific Land Trust (TPL).

Vanguard Strategic Equity Investor (VSEQX - MF report) seeks long-term capital growth. VSEQX invests in both small and medium-sized companies that are believed to have strong growth prospects and reasonable valuations compared to its peers. VSEQX’s advisor applies a quantitative process to assess all the securities in the fund’s benchmarks that include the MSCI US Small and Mid-Cap 2200 Index. A large portion of its assets are invested in equity securities. The Vanguard Strategic Equity Investor fund has a three-year annualized return of 19.7%.

VSEQX has an expense ratio of 0.27% compared to a category average of 1.15%.

ClearBridge Mid Cap Core A (SBMAX - MF report) invests a major portion of its assets in equity securities of medium-sized companies. SBMAX may invest a maximum 20% of its assets in equity securities of companies other than medium capitalization companies. SBMAX may also invest up to 25% of its assets in securities of foreign issuers. The ClearBridge Mid Cap Core A fund has a three-year annualized return of 17.2%.

As of September 2015, SBMAX held 67 issues, with 2.46% of its total assets invested in Mednax Inc.(MD)