Today we are featuring top-performing "Flexible" balanced mutual funds, which primarily seek income or total return through investment in stocks, bonds, or cash to any extent.

Investors can find such funds by checking out the entire list of the Zacks #1 Rank Flexible Balanced Funds.3 Solid Picks

Franklin Real Return A (FRRAX) seeks to achieve total return that exceeds the rate of inflation over an economic cycle.

The fund generally invests a substantial portion of its assets in inflation-protected securities. It also has the flexibility to invest in other sectors of the market to increase real return (total return less inflation) potential and offer greater diversification.

T. Anthony Coffey has been lead manager at the fund since its inception in November 2004. The fund has an expense ratio of 0.90%.

Berwyn Income (BERIX) was incepted in September