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 four 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.

Vanguard US Value Investor (VUVLX - MF report) seeks long-term capital growth and high income. VUVLX invests all of its assets in undervalued companies having low price/earnings (P/E) ratios. VUVLX focuses on acquiring stocks of large and mid-cap companies having impressive growth potential and favorable valuations. The Vanguard US Value Investor fund has a three-year annualized return of 14.7%.

VUVLX has an expense ratio of 0.26% compared to the category average of 1.11%.

JPMorgan Large Cap Value A (OLVAX - MF report) invests a large portion of its assets in securities of large-cap companies that include common stocks, and debt and preferred stocks that can be converted to common stock. Large cap companies are those that have market capitalization equivalent to those listed in the Russell 1000 Value Index at the time of purchase. OLVAX offers dividends quarterly and capital gains annually. The JPMorgan Large Cap Value A fund has a three-year annualized return of 14.8%.

Scott Blasdell is the fund manager and has managed OLVAX since 2013.

MFS Value A (MEIAX - MF report) seeks capital growth over the long run. MEIAX generally invests in equity securities including common stocks, securities of REITs and convertible securities. Though MEIAX primarily invests in value companies having large capitalization, it may also invest in small and mid cap companies. The MFS Value A fund has a three-year annualized return of 13.7%.

As of October 2015, MEIAX held 98 issues with 4.46% of its assets invested in JPMorgan Chase & Co.

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 13.8%.

FLVEX has an expense ratio of 0.45% compared to the category average of 1.11%.