Top Corporate High Yield Fixed Income Funds

Today we are featuring top-performing "Corporate High Yield" fixed income mutual funds, which primarily seek high current income through investment in lower-rated corporate bonds.

Investors can find such funds by checking out the entire list of the Zacks #1 Rank Corporate High Yield Fixed Income Funds.

3 Solid Samples

Transamerica High Yield Bond A (IHIYX) seeks high level of current income. It was incepted in June 1985.

The fund invests at least 80% of fund assets in a diversified portfolio of fixed-income securities including investment grade bonds and high-yield/high risk bonds. It may invest some or all of its assets in short-term U.S. government, obligations.

Shareholders have to make a minimum initial investment of $1,000 to enter this Zacks#1 Rank ("Strong Buy") fund. As of April 2009, its portfolio turnover was 36%.

Bradley J. Beman has been lead manager of the fund since August 1998. Beman has been with AEGON since 1988 and is director of public fixed income.

Lord Abbett Bond Debenture A (LBNDX) was incepted in April 1971. The fund's objective is to provide investors with high current income and the opportunity for capital appreciation to produce a high total return.

The fund invests at least 80% of its net assets plus the amount of any borrowings in fixed income securities of various types, 20% of fund asset is any combination of investments grade securities, U.S. government securities and cash equivalents.

The fund offers dividends monthly and capital gains annually. As of June 2009, it has a portfolio turnover of 44.20%.

Christopher J. Towle has been Lead Manager of the fund since 30-Dec-93. Towle is a Chartered Financial Analyst and has been with Lord Abbett since 1987.

Fidelity Capital & Income (FAGIX) seeks to provide income and capital growth. It was incepted in November 1977.

The fund invests mainly in equity and debt securities, including defaulted securities, with an emphasis on lower-quality debt securities. It may invest in companies in troubled or uncertain financial condition and in domestic and foreign issuers.

Shareholders have to make a minimum initial investment of $2,500 to enter this Zacks#1 Rank ("Strong Buy") fund. It has an expense ratio of 0.74%.

Mark Notkin has been lead manager of the fund since 21-Jul-03. Notkin joined Fidelity in 1994 and is a vice president and co-manager with the firm.

Discover Many More Funds

Learn more about the new Zacks Mutual Fund Rank and discover some of the best market-beating mutual funds by browsing our mutual funds section. This part of Zacks.com offers a variety of tools, including mutual fund research, a new mutual fund screener, helpful answers to frequently asked questions and quick access to prospectuses and other information.

By applying the Zacks Rank to mutual funds, investors can find funds that not only outpaced the market in the past but are also expected to outperform going forward.

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