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| BondsOnline.com: instant access to and extensive coverage of over 3.5 million stocks, bonds, indexes and other securities covering major and emerging markets and exchanges across the globe. |
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| Bonds Online |
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| 5/10/2013Market Performance |
| Municipal Bonds |
|---|
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S&P National Bond Index
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3.00% |
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S&P California Bond Index
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2.96% |
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S&P New York Bond Index
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3.13% |
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S&P National 0-5 Year Municipal Bond Index
|
0.70% |
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| S&P/BGCantor US Treasury Bond |
400.09 |
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| More |
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| Income Equities: |
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| Preferred Stocks |
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S&P U.S. Preferred Stock Index
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848.03 |
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S&P U.S. Preferred Stock Index (CAD)
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636.26 |
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S&P U.S. Preferred Stock Index (TR)
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1,701.05 |
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S&P U.S. Preferred Stock Index (TR) (CAD)
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1,276.26 |
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| REITs |
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S&P REIT Index
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174.07 |
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S&P REIT Index (TR)
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425.30 |
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| MLPs |
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S&P MLP Index
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2,469.58 |
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S&P MLP Index (TR)
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5,428.50 |
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See Data
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Why Your Bond Funds Probably Aren't Worth their Fat Fees |
THE WALL STREET JOURNAL - Sept. 3, 2011 - By JACK HOUGH
One bond king's recent stumble gives investors reason to question the outsize fees many are paying to mutual-fund managers—and to consider some new alternatives.
Bill Gross of Pacific Investment Management Co. made a reasoned but ill-timed bet against U.S. Treasury bonds earlier this year that caused his colossal Pimco Total Return Fund to miss a sweeping rally and underperform peers—a "mistake," he told The Wall Street Journal.
Mr. Gross's longer-term record remains impressive: Over the past 10 years his fund's various share classes rank among the top 3% to 28% of their category, according to investment-research firm Morningstar Inc.
But if even the greats can slip up, what of the ordinary managers out there? Two-thirds of actively managed bond funds fared worse than the broad bond universe over the past 20 years, according to an analysis of Morningstar data performed by Vanguard Group. Other studies long have shown similar results, with the underperformance largely attributable to fees.
"In the bond space you're dealing with limited return expectations and relatively few differences in bond characteristics, so it's difficult for managers to shine through portfolio selection," says Scott Donaldson, an analyst at Vanguard Group. "High fees are a huge headwind."
For the complete article.
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| Stuff to look at |
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| BondsOnline Advisor |
Income Security Recommendation January 2013 Issue.
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