Large cap funds usually provide a safer option to risk-averse investors when compared to small cap and mid cap funds. These funds have exposure to large cap stocks, with long-term performance history and more stability than what mid cap or small caps offer. 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 at a discount, are mostly interested in investing 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. Value stocks are expected to outperform the growth ones across all asset classes when considered on a long-term investment horizon and are less susceptible 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-rated, 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. To view the Zacks Rank and past performance of all large-cap value mutual funds, investors can click here to see the complete list of large-cap value funds .

Fidelity Blue Chip Value (FBCVX - MF report) invests a large chunk of its assets in common stocks of blue-chip companies. FBCVX invests in securities of companies that are believed to be undervalued with respect to factors including sales, earnings and growth potential. FBCVX invests in securities issued throughout the globe. The Fidelity Blue Chip Value fund has a three-year annualized return of 10.4%.

Sean Gavin is the fund manager of FBCVX since Oct 17, 2014.

VALIC Company II Large Cap Value (VACVX - MF report) seeks higher total return than the Russell 1000 Value Index. VACVX invests a large share of its assets in equity securities of large-cap companies with market capitalization more than the smallest member of the Russell 1000 Index. The VALIC Company II Large Cap Value fund has a three-year annualized return of 9.2%.

As of January 2016, VACVX held 121 issues, with 4.16% of its assets invested in Occidental Petroleum Corp.

Fidelity Large Cap Value Enhanced Index (FLVEX - MF report) invests the majority of its assets in companies included in the Russell 1000 Value Index, which consists of large cap companies. FLVEX uses a quantitative analysis of factors including historical valuation, growth and profitability to select companies that are believed to provide more return than the index. FLVEX focuses on acquiring common stocks of companies across the world. The Fidelity Large Cap Value Enhanced Index fund has a three-year annualized return of 9.9 %.

FLVEX has an expense ratio of 0.45% compared to the category average of 1.10%.