Tech stocks have dominated market gains in recent years.

In fact, the S&P 500 Equal Weight Information Technology index has had a 12.5% annualized five-year return from July 2019 – widely outpacing other sectors such as consumer staples, energy and financials.

Still, the tech sector faces an uncertain future. “We do not think the daily grind upward in the stock indexes is sustainable, largely amid the possibility of mixed earnings reports over the next few weeks and the possibility of yet another Fed rate hike,” said James Demmert, chief investment officer of Main Street Research, earlier this week before the U.S. Federal Reserve opted to raise interest rates.

Look beyond tech

But there are opportunities beyond tech: Morningstar data reveals the funds outside of tech and growth sectors that have also outperformed over the last five years.

The following is a list of such U.S. dollar-denominated funds that had among the highest annualized return over the last five years — from July 2018 to the end of June this year — according to Morningstar data.

‍

Read the full article at CNBC.com Subscription needed.

Disclosures: Main Street Research LLC (“MSR”)is an SEC registered investment adviser; however, this does not imply any levelof skill or training and no inference of such should be made. The opinionsexpressed herein are as of the date of publication and are provided forinformational purposes only. Content will not be updated after publication andshould not be considered current after the publication date. We providehistorical content for transparency purposes only. All opinions are subject tochange without notice and due to changes in the market or economic conditionsmay not necessarily come to pass. Mention of a security should not beconsidered a recommendation or solicitation to purchase or sell the security,and any securities mentioned may be held by MSR for client portfolios.  The information postedrepresents an opinion as of the date published and should not be considered aninvestment recommendation.  MSR does not become a fiduciary to anyreader or other person or entity by the person’s use of or access to thematerial. The reader assumes the responsibility of evaluating the merits andrisks associated with the use of any information or other content and for anydecisions based on such content.