High Yield Bond

High-yield bond portfolios concentrate on lower-quality bonds, which are riskier than those of higher-quality companies. These portfolios generally offer higher yields than other types of portfolios, but they are also more vulnerable to economic and credit risk. These portfolios primarily invest in U.S. high-income debt securities where at least 65% or more of bond assets are not rated or are rated by a major agency such as Standard & Poor's or Moody's at the level of BB (considered speculative for taxable bonds) and below. Morningstar®

#1 Loomis Sayles Institutional High Income Fund (LSHIX)

Performance (1-yr.): 14.36% Expenses: 0.68%
Performance (1-mo.): 0.50% Total Assets: $705.3M
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#2 PIA High Yield Fund (PHYSX)

Performance (1-yr.): 8.01% Expenses: 0.98%
Performance (1-mo.): 0.56% Total Assets: $77.97M
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#3 USAA High Income Fund (USHYX)

Performance (1-yr.): 7.83% Expenses: 0.95%
Performance (1-mo.): 0.59% Total Assets: $2.16B
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#4 Third Avenue Focused Credit Fund (TFCIX)

Performance (1-yr.): 14.28% Expenses: 0.91%
Performance (1-mo.): 0.98% Total Assets: $2.54B
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#4 T. Rowe Price High Yield Fund (PRHYX)

Performance (1-yr.): 8.21% Expenses: 0.74%
Performance (1-mo.): 0.19% Total Assets: $10.17B
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#6 Federated High Yield Trust Fund (FHYTX)

Performance (1-yr.): 10.34% Expenses: 1.01%
Performance (1-mo.): 0.54% Total Assets: $664.54M
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#6 Rainier High Yield Fund (RAIHX)

Performance (1-yr.): 7.16% Expenses: 0.66%
Performance (1-mo.): 0.11% Total Assets: $47.06M
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#8 T. Rowe Price Institutional High Yield Fund (TRHYX)

Performance (1-yr.): 8.21% Expenses: 0.50%
Performance (1-mo.): 0.28% Total Assets: $2.91B
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#9 John Hancock II High Yield Fund (JIHDX)

Performance (1-yr.): 7.31% Expenses: 0.76%
Performance (1-mo.): 0.55% Total Assets: $1.15B
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#10 Waddell & Reed Advisor High Income Fund (UNHIX)

Performance (1-yr.): 9.66% Expenses: 1.04%
Performance (1-mo.): 0.68% Total Assets: $2.3B
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Top Performing High Yield Bond Funds As of 04.22.2014

Rx High Income Fund (FMHRX)

Total Return: 1.21%

Aegis High Yield Fund (AHYFX)

Total Return: 1.18%

Pioneer Global High Yield Fund (PGHYX)

Total Return: 1.03%

Fairholme Focused Income Fund (FOCIX)

Total Return: 26.44%

Loomis Sayles Institutional High Income Fund (LSHIX)

Total Return: 14.36%

Third Avenue Focused Credit Fund (TFCIX)

Total Return: 14.28%

Waddell & Reed Advisor High Income Fund (UNHIX)

Total Return: 11.05%

Ivy High Income Fund (WHIAX)

Total Return: 10.64%

Fairholme Focused Income Fund (FOCIX)

Total Return: 10.59%

* Annualized