Online Extra: The Best Bond Funds

These bond funds earned A ratings when compared to all other bond funds (taxable funds are rated against other taxable funds, and the same goes for tax-free funds) Ratings are based on the five-year total return (ending Dec. 31, 2005), adjusted for risk. For more detail on these funds, see the Mutual Fund Scoreboard

FUND SYMBOL TOTAL RETURN* CATEGORY
AIM High Income Municipal A AHMAX 7.1% Muni. High Yield
AllianceBernstein Emerging Market Debt A AGDAX 16.3 Emerging Markets Bond
Amer Century CA High Yield Municipal Inv BCHYX 6.7 Muni. Calif. Long
Amer Century Intl Bond Inv BEGBX 8.6 International Bond
Amer Century Target Maturity 2020 Inv BTTTX 8.9 Long Government
Amer Century Target Maturity 2025 Inv BTTRX 9.8 Long Government
BBH Inflation Indexed Securities N BBHIX 8.8 Long Government
BlackRock High Yield Bd Inv A BHYAX 9.6 High Yield
Buffalo High Yield BUFHX 8.2 High Yield
Colorado BondShares HICOX 6.2 Muni. Single-State Interm.
Columbia High Income A NAHAX 10.5 High Yield
Columbia High Yield Muni Z SRHMX 5.9 Muni. High Yield
Delaware Corp Bd Instl DGCIX 9.1 Intermediate (General)
Delaware Extended Duration Bd A DEEAX 11.0 Long (General)
Delaware MN High Yield Muni Bd A DVMHX 7.2 Muni. Single-State Long
Diversified Inv High Yield Bond Inv DVHYX 8.9 High Yield
Dupree AL Tax Free Income DUALX 6.3 Muni. Single-State Interm.
Dupree MS Tax Free Income DUMSX 6.1 Muni. Single-State Interm.
Eaton Vance High Yield Municipals A ETHYX 7.3 Muni. High Yield
Eaton Vance Natl Municipals A EANAX 7.6 Muni. National Long
Federated International High Inc A IHIAX 14.8 Emerging Markets Bond
Federated Muni High Yield Advantage A FMOAX 6.3 Muni. High Yield
Fidelity Advisor Emerging Mkts Inc T FAEMX 13.9 Emerging Markets Bond
Fidelity Advisor High Income Advatange T FAHYX 10.3 High Yield
Fidelity Advisor High Income Instl FHNIX 9.2 High Yield
Fidelity Advisor Strategic Income T FSIAX 9.2 Multisector
Fidelity Capital & Income FAGIX 9.4 High Yield
Fidelity MA Muni Inc FDMMX 5.5 Muni. Single-State Long
Fidelity MI Muni Inc FMHTX 5.4 Muni. Single-State Long
Fidelity Municipal Income FHIGX 5.9 Muni. National Long
Fidelity NY Muni Inc FTFMX 5.6 Muni. New York Long
Fidelity New Markets Income FNMIX 14.6 Emerging Markets Bond
Fidelity OH Muni Inc FOHFX 5.5 Muni. Single-State Long
Fidelity Strategic Income FSICX 9.4 Multisector
First American Tax Free Y FYNTX 5.7 Muni. National Long
Franklin High Yld Tax Free Inc A FRHIX 6.3 Muni. High Yield
Franklin Muni Sec Tr CA High Yld Muni A FCAMX 6.3 Muni. Calif. Long
GMO Emerging Country Debt IV GMDFX 20.8 Emerging Markets Bond
Goldman Sachs High Yield A GSHAX 9.5 High Yield
Goldman Sachs High Yield Muni Instl GHYIX 7.9 Muni. High Yield
Harris Insight Tax Exempt Bond N HXBAX 5.6 Muni. National Long
Heritage High Yield Bond A HRIDX 9.2 High Yield
J Hancock High Yield A JHHBX 9.8 High Yield
JPMorgan Emerging Mkts Debt Sel JEMDX 14.7 Emerging Markets Bond
Loomis Sayles Bond Instl LSBDX 11.8 Multisector
Loomis Sayles Global Bond Retail LSGLX 9.7 International Bond
Loomis Sayles Strategic Income A NEFZX 12.7 Multisector
MFS Emerging Markets Debt A MEDAX 18.1 Emerging Markets Bond
MFS High Yield Opportunities A MHOAX 9.7 High Yield
MFS Municipal High Income A MMHYX 6.6 Muni. High Yield
MainStay Global High Income A MGHAX 15.7 Emerging Markets Bond
MainStay High Yield Corp Bd B MKHCX 9.4 High Yield
Merrill Lynch Muni Bond Natl B MBNLX 5.4 Muni. National Long
Merrill Lynch World Income I MAWIX 9.6 International Bond
Morgan Stanley Instl Emerging Markets Debt A MSIEX 14.4 Emerging Markets Bond
Morgan Stanley Instl Municipal Inst MPMFX 5.3 Muni. Short
Northern High Yield Muni NHYMX 6.3 Muni. High Yield
Northern Tax Exempt NOTEX 5.4 Muni. National Long
Nuveen High Yield Muni Bd A NHMAX 9.7 Muni. High Yield
Oppenheimer AMT Free Municipal Bond A OPTAX 6.9 Muni. National Long
Oppenheimer CA Municipal A OPCAX 7.4 Muni. Calif. Long
Oppenheimer Intl Bond A OIBAX 13.1 International Bond
Oppenheimer Limited Term Municipal A OPITX 6.8 Muni. National Interm.
Oppenheimer NJ Municipal A ONJAX 7.8 Muni. Single-State Long
Oppenheimer PA Municipal A OPATX 8.7 Muni. Single-State Long
Oppenheimer Rochester Municipals A RMUNX 6.9 Muni. New York Long
Oppenheimer Rochester National Muni A ORNAX 9.3 Muni. High Yield
PIMCO Emerging Markets Bond A PAEMX 18.7 Emerging Markets Bond
Payden Emerging Markets Bond R PYEMX 13.3 Emerging Markets Bond
Phoenix Emerging Mkts Bd A PEMAX 13.2 Emerging Markets Bond
Pioneer California Tax Free Income Inv CATIX 6.0 Muni. Calif. Long
Pioneer High Yield A TAHYX 10.4 High Yield
Pioneer Municipal Bond Inv PBIMX 6.4 Muni. National Long
Pioneer Strategic Income A PSRAX 9.9 Multisector
Regions Morgan Keegan Sel Hi Inc A MKHIX 13.5 High Yield
SEI Emerging Markets Debt A SITEX 16.9 Emerging Markets Bond
Salomon Brothers High Yield Bond A SAHYX 9.7 High Yield
Scudder Emerging Markets Income S SCEMX 16.1 Emerging Markets Bond
Scudder High Yield Tax Free S SHYTX 6.3 Muni. High Yield
SunAmerica Strategic Bond A SDIAX 9.8 Multisector
T Rowe Price Emerging Markets Bond PREMX 15.2 Emerging Markets Bond
T Rowe Price High Yield PRHYX 8.9 High Yield
T Rowe Price Summit Muni Income PRINX 6.0 Muni. National Long
T Rowe Price Tx Fr Inc Tr High Yield PRFHX 6.2 Muni. High Yield
T Rowe Price Tx Fr Inc Tr Income PRTAX 5.3 Muni. National Long
T Rowe Price Tx Fr Inc Tr NJ Tx Fr Bond NJTFX 5.4 Muni. Single-State Long
T Rowe Price Tx Fr Inc Tr VA Tx Fr Bond PRVAX 5.3 Muni. Single-State Long
TCW Galileo Emrg Markets Income I TGEIX 15.6 Emerging Markets Bond
TIAA-CREF Tax Exempt Bond TCTEX 5.6 Muni. National Long
Templeton Global Bond A TPINX 11.0 International Bond
USAA Florida Tx Fr Income UFLTX 5.7 Muni. Single-State Long
USAA Tx Ex Long Term USTEX 6.1 Muni. National Long
USAA Tx Ex New York Bond USNYX 5.6 Muni. New York Long
Van Kampen High Yield Municipal A ACTHX 6.7 Muni. High Yield
Vanguard Inflation Protected Securities VIPSX 8.5 Long Government
Vanguard Long Term Invst Grade VWESX 8.6 Long (General)
Vanguard OH Long Term Tax Exempt VOHIX 5.4 Muni. Single-State Interm.
WM High Yield A CPHYX 10.2 High Yield
Wells Fargo Advtg MN Tax Free Adm NWMIX 5.3 Muni. Single-State Long
Wells Fargo Advtg Municipal Bond Inv SXFIX 6.6 Muni. National Long
Wells Fargo Advtg National Tax Free Adm NTFTX 5.4 Muni. National Long
Westcore Flexible Income WTLTX 8.4 High Yield
Western Asset Non US Opportunity Bond I WAFIX 9.6 International Bond

*Appreciation plus reinvestment of dividends and capital gains before taxes. Jan. 1, 2001 through Dec. 31, 2005

Data: Standard & Poor's

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