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Best lower risk, high return mutual fund out there?


I already invest in Janus Funds and they are higher risk but returns are incredible in this bull market...looking for a lower risk to even out things a bit.

It depends what you mean by "even out" because you could diversify by adding a foreign fund or you could diversify by adding a bond fund or you could diversify by adding an index fund. By being diversified you will lower your risk and your total return might be less but the total value of your portfolio should fluctuate less.
I wouldn't suggest individual funds but I would suggest that you look at the top ten holdings in each fund to see how many times funds with different objectives have the same stocks i.e. General Electric, Microsoft, IBM, etc.etc.
You aren't diversified if your funds have similar large holdings in the same stocks! You will be surprised how often this is the case!

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