Investors who are too conservative to buy a sector fund can gain exposure to the area through diversified funds.

You get paid at Fidelity to run diversified funds.

It rose 5.9 percent, placing fourth among diversified funds and 11th over all.

By contrast, the most diversified funds lagged behind the market.

The fund's gain of 42.3 percent last year was among the best among all domestic diversified funds.

Even with diversified mutual funds, some investments are riskier than others.

In terms of risk, they are no substitute for a good diversified fund.

People could choose from a small number of diversified funds.

The average diversified fund is down 0.22 percent in that period.

What follows is a glimpse of three of these diversified funds.