Table: Top Bond Funds Overall

Here we show the bond funds that received A ratings for the best risk-adjusted returns against all bond funds over five years. To compare funds on a number of measures see the Mutual Funds Interactive Scoreboard.

Fund 5-yr. Avg. Annual Tot. Return* Category
AIM High Income Municipal A** 7.1 Muni. High Yield
AllianceBernstein Emerging Market Debt A** 18.4 Emerging Markets Bond
Amer Century CA High Yield Municipal Inv 6.7 Muni. Calif. Long
Amer Century International Bond Inv 10.7 International Bond
Amer Century Target Maturity 2025 Inv 10.1 Long Government
BlackRock World Income Instl 10.4 International Bond
Calamos Global Growth & Income A 11.4 Convertibles
Columbia High Income A 11.0 High Yield
Columbia High Yield Municipal Z 6.1 Muni. High Yield
DWS Emerging Markets Fixed Income S 17.3 Emerging Markets Bond
DWS High Yield Tax Free S 6.3 Muni. High Yield
Davis Appreciation & Income A 12.0 Convertibles
Delaware Delchester A 11.5 High Yield
Delaware High Yield Opp A 11.3 High Yield
Delaware MN High Yield Muni Bd A 6.9 Muni. Single-State Interm.
Diversified Inv Adv High Yield Bond Inv 10.0 High Yield
Dreyfus Premier Select Muni Bond Z 5.4 Muni. National Long
Dupree AL Tax Free Income 5.8 Muni. Single-State Interm.
Dupree MS Tax Free Income 5.6 Muni. Single-State Interm.
Eaton Vance AMT Free Municipal Bond A 6.7 Muni. National Long
Eaton Vance High Income B 9.8 High Yield
Eaton Vance High Yield Municipals A 8.3 Muni. High Yield
Eaton Vance Natl Municipals A 8.7 Muni. National Long
Eaton Vance SC Municipals A 6.4 Muni. Single-State Interm.
Federated International High Inc A 14.9 Emerging Markets Bond
Federated Muni High Yield A 6.6 Muni. High Yield
Fidelity Advisor Emerging Mkts Inc T 15.5 Emerging Markets Bond
Fidelity Advisor High Income Advatange T 13.7 High Yield
Fidelity Capital & Income 12.9 High Yield
Fidelity High Income 10.1 High Yield
Fidelity Municipal Income 5.7 Muni. National Long
Fidelity NY Muni Inc 5.6 Muni. New York Long
Fidelity New Markets Income 16.0 Emerging Markets Bond
Fidelity Strategic Income 9.5 Multisector
Fidelity Tax Free Bond 5.9 Muni. National Long
First American Tax Free Y** 5.8 Muni. National Long
Franklin High Income A 10.3 High Yield
Franklin High Yld Tax Free Inc A 6.4 Muni. High Yield
Franklin Muni Sec Tr CA High Yld Muni A 6.3 Muni. Calif. Long
GMO Emerging Country Debt IV** 21.5 Emerging Markets Bond
Goldman Sachs High Yield A 10.5 High Yield
Goldman Sachs High Yield Muni A 7.4 Muni. High Yield
JPMorgan Emerging Mkts Debt Sel 16.6 Emerging Markets Bond
John Hancock High Yield A 13.6 High Yield
John Hancock High Yield Municipal Bond A 6.3 Muni. High Yield
Legg Mason Partners Global High Yield A 10.8 International Bond
Loomis Sayles Bond Instl 13.5 Multisector
Loomis Sayles Global Bond Instl 10.6 International Bond
Loomis Sayles Strategic Income A 15.2 Multisector
MFS Emerging Markets Debt A 16.5 Emerging Markets Bond
MFS High Yield Opportunities A 10.6 High Yield
MFS Municipal High Income A 6.5 Muni. High Yield
MainStay Global High Income A 15.7 Emerging Markets Bond
MainStay High Yield Corp Bd A 12.0 High Yield
Managers Global Bond 9.4 International Bond
Morgan Stanley Instl Emerging Markets Debt A 14.6 Emerging Markets Bond
Morgan Stanley Tax Exempt Securities D 5.4 Muni. National Long
Northern High Yield Muni 6.2 Muni. High Yield
Northern Income Equity 9.5 Convertibles
Nuveen High Yield Muni Bd A 9.1 Muni. High Yield
Oppenheimer AMT Free Municipal Bond A 7.7 Muni. National Long
Oppenheimer AMT NY Municipal A 6.8 Muni. New York Long
Oppenheimer CA Municipal A 8.0 Muni. Calif. Long
Oppenheimer Intl Bond A 14.6 International Bond
Oppenheimer Limited Term Municipal A 6.9 Muni. National Interm.
Oppenheimer NJ Municipal A 8.4 Muni. Single-State Long
Oppenheimer PA Municipal A 8.7 Muni. Single-State Long
Oppenheimer Rochester Municipals A 7.4 Muni. New York Long
Oppenheimer Rochester National Muni A 10.2 Muni. High Yield
PIMCO Emerging Markets Bond A 15.6 Emerging Markets Bond
PIMCO RCM Real Return Asset Instl 10.8 Long Government
Payden Emerging Markets Bond R 12.7 Emerging Markets Bond
Phoenix Emerging Mkts Bd A 14.5 Emerging Markets Bond
Pioneer AMT Free CA Municipal Inv 6.0 Muni. Calif. Long
Pioneer AMT Free Municipal Inv 6.2 Muni. National Long
Pioneer Global High Yield A 15.1 International Bond
Putnam Convertible Income Growth A 10.7 Convertibles
Putnam High Yield Advantage A 10.0 High Yield
Regions Morgan Keegan Sel Hi Inc A** 12.4 High Yield
SEI Emerging Markets Debt A 17.3 Emerging Markets Bond
SunAmerica High Yield Bd A 10.7 High Yield
T Rowe Price Emerging Markets Bond 15.9 Emerging Markets Bond
T Rowe Price High Yield** 9.3 High Yield
T Rowe Price Intl Bond 9.4 International Bond
T Rowe Price Summit Muni Income 5.9 Muni. National Long
T Rowe Price Tx Fr Inc Tr High Yield 6.5 Muni. High Yield
TCW Emerging Markets Income I 14.5 Emerging Markets Bond
Templeton Global Bond A 12.8 International Bond
USAA Florida Tx Fr Income 5.5 Muni. Single-State Long
USAA Tx Ex Long Term 6.1 Muni. National Long
USAA Tx Ex New York Bond 5.5 Muni. New York Long
Van Kampen High Yield Municipal A 7.3 Muni. High Yield
Van Kampen Strategic Muni Income A** 6.7 Muni. High Yield
Vanguard FL Long Term Tx Ex Admrl 5.5 Muni. Single-State Interm.
Vanguard High Yield TE Admrl 5.7 Muni. National Interm.
Vanguard Insrd Long Term TE Admrl 5.5 Muni. National Interm.
Vanguard NY Long Term TE Admrl 5.5 Muni. New York Interm.
WM High Yield A 12.3 High Yield
Wells Fargo Advtg Intermediate Tx Fr Inv 5.8 Muni. National Interm.
Wells Fargo Advtg Municipal Bond Inv 6.6 Muni. National Interm.
Wells Fargo Advtg WI Tax Free Inv 5.4 Muni. Single-State Interm.
Westcore Flexible Income 9.8 High Yield

*Appreciation plus reinvestment of dividends and capital gains before taxes, Jan. 1, 2002 - Dec. 29, 2006

** Fund closed Data: Standard & Poor's

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