Vanguard is one of the world’s largest asset management corporations that manage around $3 trillion in assets. It offers nearly 160 domestic funds and 120 funds for foreign markets (as of Dec 31, 2014). It offers asset management and financial planning services to clients across the world. Unlike other mutual fund companies, Vanguard is owned by the funds themselves, which helps its management focus better on shareholder interests. Among other advantages, it claims to offer low-cost, no-load funds. Vanguard was founded by John C. Bogle in 1975.

Below we share with you 5 top-rated Vanguard mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and we expect the fund to outperform its peers in the future. To view the Zacks Rank and past performance of all Vanguard mutual funds, investors can click here to see the complete list of Vanguard funds .

Vanguard Health Care Investor (VGHCX - MF report) invests a major portion of its assets in securities of companies primarily involved in operations related to the health care domain. VGHCX invests in health care companies including pharmaceutical firms, medical supply companies and companies engaged in operations related to medical and biochemical. VGHCX may invest a maximum of half of its assets in companies located in foreign lands. The Vanguard Health Care Investor fund has returned 10.3% in the year-to-date frame.

Jean M. Hynes is the fund manager of VGHCX since 2008.

Vanguard Morgan Growth Investor (VMRGX - MF report) seeks capital appreciation over the long run. VMRGX uses multiple advisors to invest in domestic companies that are believed to provide above-average revenues and earnings growth. VMRGX invests in securities of companies having large and medium sized market capitalizations. The Vanguard Morgan Growth Investor fund has returned 7.1% in the year-to-date frame.

VMRGX has an expense ratio of 0.40% as compared to the category average of 1.19%.

Vanguard Growth & Income Investor (VQNPX - MF report) invests in a diversified group of stocks chosen with the help of quantitative analysis. VQNPX seeks stocks that are believed to provide dividend income and have impressive growth prospect and that, as a group, appear likely to provide higher returns than the Standard & Poor's 500 Index while having similar risk characteristics. VQNPX invests a minimum of 65% of its assets in companies included in the index. The Vanguard Growth & Income Investor fund has returned 2.2% in the year-to-date frame.

As of September 2015, VQNPX held 786 issues with 3.33% of its assets invested in Apple Inc.

Vanguard New York Long-Term Tax-Exempt Investor (VNYTX - MF report) seeks tax-exempted current income. VNYTX generally invests in municipal debt securities of New York state, local governments and other affiliates. VNYTX invests a lion’s share of its assets in securities that are expected to provide return free from federal and New York state taxes. VNYTX generally maintains a dollar-weighted average maturity between 10 and 25 years. The Vanguard New York Long-Term Tax-Exempt Investor is a non-diversified fund and has returned 3.2% in the year-to-date frame.

VNYTX has an expense ratio of 0.20% as compared to the category average of 0.87%.

Vanguard High-Yield Tax-Exempt (VWAHX - MF report) invests a large chunk of its assets in municipal securities that are rated investment grade by a nationally recognized statistical rating organization (NRSRO). However, a maximum of 20% of VWAHX’s assets may get invested in securities that are rated below investment grade. The Vanguard High-Yield Tax-Exempt fund has returned 3.2% in the year-to-date frame.

Mathew M. Kiselak is the fund manager of VWAHX since 2010.