Westport Fund (WPFRX)
This fund's performance has been decent in up markets as well as downturns. Amid 2008's market plunge, the fund lost 30 percent, 7 percentage points less than the S&P 500. Manager Ed Nicklin runs a fairly concentrated fund that currently contains 46 stocks, a quarter of which are in the industrial materials sector. Its 6 percent turnover ratio—a measure of how often a manager buys or sells securities—means Nicklin holds onto his picks for the long haul. Over the past 10 years, the fund has returned an annualized 8 percent. Its annual fees are 1.31 percent.