Normally, the fund invests at least 80% of its total assets in below investment grade (high yield) debt securities and preferred stocks. Debt securities rated below investment grade are commonly referred to as "junk bonds" and are considered speculative. The fund may invest in high yield securities of any rating, including securities where the issuer is in default or bankruptcy at the time of purchase.

Nasdaq

TYHYX

The investment seeks to provide an attractive total return primarily through high current income and secondarily through capital appreciation. The fund primarily invests its assets in a broad range of U.S. dollar-denominated high-yield securities, including bonds, convertible securities, leveraged loans, or preferred stocks, with an emphasis on non-investment-grade debt securities. Although the fund will invest primarily in U.S. securities, it may invest without limit in dollar-denominated foreign securities and to a limited extent in non-dollar-denominated foreign securities, including in each case emerging-markets securities.

USHYX

VWEAX

VWEHX

The fund normally invests at least 80% of its net assets in U.S. dollar denominated debt or fixed income securities that are rated below investment grade at the time of purchase by one or more Nationally Recognized Statistical Rating Organizations or are of a comparable quality as determined by the subadviser. The fund managers consider securities that are rated below the Baa or BBB categories to be rated below investment grade. The fund may also enter into various exchange-traded and over-the-counter derivative transactions for both hedging and non-hedging purposes.

WAHYX

The fund has flexibility to achieve its investment objective and invests in a broad range of income-producing securities, including debt and equity securities in the U.S. and other markets throughout the world, both developed and emerging. Under normal circumstances, it invests at least 80% of its net assets in securities of U.S. issuers. U.S. issuers include the U.S. government and its agencies and instrumentalities. The fund has a neutral allocation of 80% of its total assets in debt securities and 20% of its total assets in equity securities.

WHGHX

The investment seeks to provide total return through a combination of high current income and capital appreciation. The fund invests primarily in a diversified portfolio of high-yield, high-risk, fixed-income securities, including secured and unsecured loan assignments, loan participations and other loan instruments (loans), of U.S. and foreign issuers, the risks of which are, in the judgment of the manager consistent with the fund's objective. It may invest up to 100% of its total assets in foreign securities that are denominated in U.S. dollars or foreign currencies.

WRHIX

Under normal circumstances, the fund will invest at least eighty percent (80%) of the value of its net assets plus any borrowings for investment purposes in "high yield" securities. It may invest up to twenty-five percent (25%) in non-U.S. dollar-denominated securities.

Symbol	Full Name	Category	Inception	Expense Ratio	YTD Return	10Y Return (Annualized)	Dividend Yield	Risk / Return Rank
TYHYX	Pioneer High Yield Fund	High Yield Bonds	Feb 12, 1998	0.85%	-0.46%	5.01%	5.40%	76
USHYX	USAA High Income Fund	High Yield Bonds	Aug 2, 1999	0.76%	-0.16%	5.42%	7.02%	94
VWEAX	Vanguard High-Yield Corporate Fund Admiral Shares	High Yield Bonds	Nov 12, 2001	0.13%	-0.78%	5.32%	5.85%	92
VWEHX	Vanguard High-Yield Corporate Fund Investor Shares	High Yield Bonds	Dec 27, 1978	0.23%	-0.79%	5.22%	5.76%	91
WAHYX	Western Asset High Yield Fund	High Yield Bonds	Sep 28, 2001	0.81%	-0.26%	5.49%	6.97%	89
WHGHX	Westwood High Income Fund	High Yield Bonds	Dec 28, 2011	0.80%	-0.08%	5.98%	6.20%	56
WRHIX	Delaware Ivy High Income Fund	High Yield Bonds	Jul 31, 1997	1.70%	-2.27%	4.07%	5.24%	32
WTLTX	Segall Bryant & Hamill Quality High Yield Fund	High Yield Bonds	Jun 1, 1988	0.85%	-0.57%	4.87%	3.79%	87
XILSX	Pioneer ILS Interval Fund	High Yield Bonds	Dec 16, 2014	1.88%	6.00%	—	8.97%	100

The Best High Yield Bonds Mutual Funds

Risk vs. Return Scatterplot