3 Well-Regarded Large-Value Funds for Investors Seeking Balanced Portfolios

Over the past few years, large-growth stocks have beaten the pants off large value fare. From 2023 through 2025, the Russell 1000 Growth Index soared an annualized 31%, more than doubling the Russell 1000 Value’s 13% gain.

At the tail end of that stretch, however, a reversal began. From the beginning of November 2025 through late April 2026, the Russell 1000 Growth was down 1.7%, while the Russell 1000 Value was up 11.7%. Investors began moving to value industries that face less threat from artificial intelligence, such as industrials stocks, airlines, and other “heavy asset” businesses.

It’s reasonable to think that these two styles’ returns revert toward a mean, so the huge gap means there is probably still an opportunity despite the recent reversal. At this point, large-growth stocks have been better investments over most long-term standard periods: The Russell 1000 Growth tops the Russell 1000 Value over the trailing three-, five-, 10-, and 15-year periods through April 2026. That said, reversals have been big. Most recently, the growth index surged 34.1% annualized from the start of 2019 through the end of 2021, topping the value index’s 16.8% mark. But in 2022, the Russell 1000 Growth plummeted 29.1%, more than 3 times as far as the Russell 1000 Value’s 8.2% fall.

Plus, if you strive to keep your portfolio prudently balanced across various investment styles, it could be out of whack given the return gaps lately. So, even if growth fare comes back into favor in 2026, diversification can smooth out your ride.

There’s a wide array of well-regarded, large-value options. Here are a few different flavors.

Among passive options, Vanguard Value Index VVIAX

is an excellent choice. This fund, which has a Morningstar Medalist Rating of Gold, is widely diversified across more than 300 stocks that feature low concentration in top holdings. With this fund, you’re taking no active risk, and its value style is pure. It tends to have low volatility and has had good relative returns in both bull and bear markets. Its low 0.05% expense ratio gives it a considerable advantage over more costly options.

For a highly rated fund that’s performed well during the recent growth surge, Bronze-rated Oakmark Select OAKLX is a good choice. Its 16.3% gain over the three years ended April 2026 ranked in the large-value Morningstar Category’s top half. Lead manager Bill Nygren has run this focused portfolio for three decades. The 25-stock fund typically features large sector divergences and high concentration at the top of the portfolio. As you might expect, its volatility is well above the typical peer’s. It has a very high active share and qualifies as a true stock-picker’s portfolio.

For the truly adventurous contrarian seeking a fund that’s been out of favor within the lagging large value universe, Bronze-rated Diamond Hill Large Cap DHLAX is a daring choice. Over the three years through April 2026, its 10.2% annualized gain ranked in the bottom 5.0% of large-value funds. Keep in mind, since Austin Hawley (lead manager since 2024) became a named manager in 2015, it has topped the typical large-value peer in 70% of rolling five-year periods. It’s a 50-stock portfolio that diverges sharply from the Russell 1000 Value index mainly via the large size of its positions in its household-name stocks. It’s an intrinsic value approach that seeks to purchase underappreciated funds with durable businesses, solid cash flows, and strong balance sheets.

This article first appeared in the March 2026 issue of Morningstar FundInvestor. Download a complimentary copy of FundInvestor by visiting this website.