Robinhood offers mutual funds, but only from a small set of providers
Robinhood does carry mutual funds, but not the full range you would find at a traditional brokerage. The platform lets you buy mutual funds from Vanguard, Fidelity, and iShares — three of the largest fund families in the United States. You can hold them in a standard taxable brokerage account or in an IRA.
The catch is that Robinhood's mutual fund selection is limited compared to what you get at Fidelity, Vanguard, or Schwab directly. You cannot buy every fund these companies offer, and you cannot buy from smaller fund families at all. If you want access to a specific mutual fund that Robinhood does not list, you will need to open an account elsewhere.
Robinhood does not charge commissions on mutual fund trades, which matches what most brokerages offer now. There are no account minimums to buy mutual funds through Robinhood, and you can start with any dollar amount.
Key Takeaways
- Robinhood carries mutual funds from Vanguard, Fidelity, and iShares, but not from every other fund company.
- You can hold mutual funds in a taxable account or an IRA through Robinhood with no commission.
- The fund selection is smaller than what you would find at Vanguard, Fidelity, or Schwab directly.
- If Robinhood does not list the specific fund you want, you will need to open an account at another brokerage.
Which funds Robinhood actually lists
Robinhood's mutual fund inventory includes popular index funds and actively managed funds from its three partner families. You can search their platform by fund name or ticker symbol to see whether a specific fund is available. The list includes well-known options like Vanguard Total Stock Market Index Fund and Fidelity Growth Company Fund, but it does not include every fund these companies make.
The platform does not publish a complete list of every fund it carries, so the only reliable way to check is to search for the fund by name or symbol in the Robinhood app or website. If the search returns no results, that fund is not available through Robinhood.
How buying mutual funds on Robinhood works
The process is straightforward: open an account, fund it, search for the mutual fund by name or ticker, and place an order. Unlike stocks, mutual fund orders settle at the end of the trading day at the fund's closing price, not immediately. This means if you place an order at 2 p.m., you will get the price calculated at 4 p.m. when the market closes.
You can set up automatic investments to buy the same mutual fund on a schedule — weekly, monthly, or at any interval you choose. This is useful if you want to invest a fixed amount regularly without having to place an order each time.
Account types for mutual funds on Robinhood
Robinhood offers mutual funds in both taxable brokerage accounts and retirement accounts. If you open a Robinhood IRA, you can buy mutual funds inside it and get the tax benefits that come with an IRA — either tax-deferred growth in a traditional IRA or tax-free withdrawals in a Roth IRA.
In a taxable account, you will owe capital gains tax when you sell a fund at a profit, and you will owe tax on any dividends the fund distributes each year. In an IRA, those taxes are deferred or eliminated depending on the account type. The choice between a taxable account and an IRA depends on your income, your tax situation, and how much you can contribute each year.
Why Robinhood's mutual fund selection is limited
Robinhood built its platform around individual stock trading and has only gradually added other investment types. Mutual funds were added later, and the company chose to partner with a few major fund families rather than build connections to hundreds of smaller ones. This keeps the platform simpler and faster to use, but it means you have fewer options.
If you are looking for a fund from a smaller provider — say, a regional bank's mutual fund or a specialized fund family — Robinhood will not have it. You would need to open an account at a brokerage that carries a wider range, such as Fidelity, Vanguard, or Charles Schwab.
Comparing Robinhood to other brokerages for mutual funds
Fidelity, Vanguard, and Schwab all offer thousands of mutual funds, including their own and those from other companies. They also offer more research tools, educational content, and customer service options than Robinhood does. If mutual funds are your primary investment focus, one of these brokerages may be a better fit.
Robinhood is most useful if you want to buy stocks, options, and a limited selection of mutual funds all in one place. The platform is designed for speed and simplicity, not for investors who need access to every fund on the market. If you already use Robinhood for stocks and want to add a few index funds to your portfolio, it works fine. If you are building a portfolio entirely around mutual funds, consider opening an account at a brokerage that specializes in them.
Frequently Asked Questions
Can I buy mutual funds in a Robinhood IRA?
Yes. Robinhood offers both traditional and Roth IRAs, and you can buy mutual funds from Vanguard, Fidelity, and iShares inside either account type. The same fund selection limits apply — you can only buy the funds Robinhood lists, not every fund these companies offer.
Does Robinhood charge fees to buy or hold mutual funds?
Robinhood does not charge commissions on mutual fund trades. Some mutual funds charge their own internal expense ratios, which is a percentage of your investment taken annually to cover the fund's operating costs. This is the same whether you buy through Robinhood or directly from the fund company.
What happens if the mutual fund I want is not on Robinhood?
You will need to open an account at another brokerage that carries it. Fidelity, Vanguard, and Schwab all have much larger fund selections and can access funds from hundreds of providers. You can hold accounts at multiple brokerages at the same time.
Can I transfer mutual funds I own elsewhere into Robinhood?
You can transfer cash from another brokerage into Robinhood, but transferring the mutual funds themselves is more complicated. It is usually easier to sell the funds at your current brokerage, move the cash to Robinhood, and buy the same or similar funds there if Robinhood carries them.