Junk bond funds.

The article presents information on junk bond funds. These funds invest in below-investment grade corporate debt. Junk bonds, dependent on corporate cash flows and general economic cycles, tend to behave as much like stocks as bonds. Since most junk matures in seven to ten years, the variation in total return among these funds comes not from different maturities but from different levels of credit risk. Some like Fidelity Capital & Income, feast on defaulted bonds. Others, like Vanguard Fixed Income-High Yield, prefer better-quality junk.