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Clients who seek a buy-and-hold mutual fund portfolio can still rack up higher trading costs and taxes when their funds are regularly and aggressively buying and selling.

If a fund manager sells every stock in a given year, the fund will have a turnover rate of 100%. For actively managed funds, a certain level of turnover is expected. Indeed, the industry average is roughly 89%, according to the Motley Fool.

Higher trading costs are one ramification of significant buying and selling. Of the 20 funds on our list, 13 are higher than 1%; another three are higher than 90 basis points.

We created a list of funds with at least $100 million in assets and with the highest turnover ratios. We ranked those funds by three-year returns.

The average turnover rate of these 20 funds is 161%; the average expense ratio is 1.2%; and the average three-year return is 14.2%. Click through to see which funds made the list.

All data from Morningstar Direct.