When interest rates go up, new bonds come with a higher rate and provide more income. When rates go down, new bonds have a lower rate and aren’t as tempting as older bonds. The bad news for bondholders is that fixed-rate bond issuers can’t increase their rates to the same level as the new issue bonds when rates go up.
Since its inception date of Sept 1989, the fund has returned just under 5%. The expense ratio of 0.75% is slightly better than the category average of 0.81% though still high. Can Fixed Income Funds Lose Money? As fixed-income funds consist of fixed-income investments, the risks these assets carry are transferred to the fund as well, so we could say that they are safe as much as their bonds are. Ntz9s. 431 291 90 281 446 419 98 87 385