Top Fund lists ain't what they used to be.

USA Today columnist John Waggoner examines the challenges these days of finding a good performing fund that makes sense to the average investor.

He notes the growing prevalence of funds that overly rely on speciality share classes, weird focuses and heavy leverage.

By eliminating funds that fit the above criteria, he created what he calls the "List of Top-Performing Funds That Aren't Stupid." They include the Buffalo Emerging Opportunities (BUFOX), Managers AMG Essex Small/Micro Cap Growth (MBRSX), Oberweis Micro-Cap (OBMCX); Hodges Fund (HDPMX) and Managers Micro Cap (MMCFX). 

Edited by: Tommy Fernandez


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