Financial pros argue that low-turnover funds (or funds that don't trade very often) are generally more tax efficient than high-turnover funds. That's somewhat of a myth. Morningstar has found that there's no one-to-one relationship between a fund's turnover rate and its tax efficiency. In fact, a fund with a 200% turnover rate can be just as tax efficient as a fund with a 50% turnover rate.

However, we have found that funds with exceptionally low turnover rates--below 20%--do tend to be tax efficient. Large-company index funds are tax friendly, for example, because they usually carry single-digit turnover ratios.

We've created a list of low-turnover U.S. stock funds using Morningstar.com's Fund Screener. To create the list, enter the following:

• Under "Select Group," choose Domestic Stock.
• Under "Turnover less than or equal to," choose 25%.
• Click "Show Results" for the list.
• On Results Page, choose "Portfolio" in the View drop-down box.
• Click on "Turnover %" to rank funds on the list from lowest turnover to highest turnover.

You can manipulate any of the inputs, if you'd like, narrowing your search to funds in a particular Morningstar Category, or funds that earn a particular star rating, etc.

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