Under normal circumstances, the fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in corporate bonds (80% policy). It may also invest up to 20% of its net assets in high yield corporate bonds ("junk bonds"). In addition, the fund may invest up to 40% of its total assets in foreign securities, but the fund's total non-U.S.-dollar currency exposure will be limited, in the aggregate, to no more than 25% of net assets.

Nasdaq

DEEIX

Under normal circumstances, the fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in investment grade U.S. dollar-denominated fixed income instruments. It will primarily invest in long duration government and corporate fixed income securities and may also invest in synthetic instruments or derivatives having economic characteristics similar to fixed income securities.

LDRAX

The investment seeks maximum total return, consistent with prudent investment management. The fund invests at least 65% of its total assets in a diversified portfolio of Fixed Income Instruments of varying maturities, which may be represented by forwards or derivatives such as options, futures contracts or swap agreements. "Fixed Income Instruments" include bonds, debt securities and other similar instruments issued by various U.S. and non-U.S. public- or private-sector entities. It may invest up to 30% of its total assets in securities denominated in foreign currencies, and may invest beyond this limit in U.S. dollar-denominated securities of foreign issuers.

PLRIX

The investment seeks total return which exceeds that of its benchmark, consistent with preservation of capital and prudent investment management. The fund normally invests at least 80% of its assets in a diversified portfolio of Fixed Income Instruments of varying maturities, which may be represented by forwards or derivatives such as options, futures contracts or swap agreements. It invests primarily in investment grade debt securities, but may invest up to 20% of its total assets in junk bonds that are rated B or higher by Moody's, or equivalently rated by S&P or Fitch, or, if unrated, determined by PIMCO to be of comparable quality.

PTCIX

The fund normally invests in a diversified portfolio of longer duration debt securities issued by corporations as well as certain non-corporate issuers. The fund manager focuses on corporate bonds, the non-corporate debt securities in which the fund may invest include securities issued by supranational organizations and U.S. and foreign governments and government agencies. Holdings will mainly consist of investment-grade debt securities, although the fund has the flexibility to purchase some non-investment-grade bonds (also called high yield or "junk" bonds).

RPLCX

The fund invests at least 80% of its net assets in bonds, including corporate and government bonds. It maintains a dollar-weighted average maturity of 10 years or more. The fund invests at least 65% of net assets in bonds rated within the three highest grades (AAA, AA, or A) and may not invest in a bond rated at the time of purchase below the fourth highest grade (BBB).

SBIFX

The fund will invest at least 80% of its net assets in investment grade U.S. dollar-denominated fixed income instruments. It will primarily invest in U.S. and foreign corporate obligations, fixed income securities issued by sovereigns or agencies in both developed and emerging foreign markets, obligations of supranational entities, debt obligations, and securities. The fund may also invest in futures contracts, options on securities or indexes and swaps, including interest rate swaps, single security swaps, swaps on an index of securities or credit default swaps.

SLDAX

The fund invests at least 80% of its assets in a portfolio of taxable municipal bonds, income producing convertible securities, preferred stocks, high yield U.S. corporate bonds, and CMOs. It may also invest in U.S. government agency securities issued or guaranteed by U.S. government-sponsored enterprises and federal agencies, including securities issued by the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the Government National Mortgage Association. The fund may also invest in MLPs, equity securities of dividend paying companies and private placements.

SOAIX

The fund seeks to provide current income and some capital appreciation by investing primarily in long-term investment-grade corporate bonds.

Symbol	Full Name	Category	Inception	Expense Ratio	YTD Return	10Y Return (Annualized)	Dividend Yield	Risk / Return Rank
DEEIX	Delaware Extended Duration Bond Fund	Long-Term Bond	Sep 14, 1998	0.57%	-1.39%	2.06%	4.76%	12
LDRAX	SEI Institutional Investments Trust Long Duration ...	Long-Term Bond	Apr 20, 2004	0.14%	-1.23%	1.61%	4.72%	8
PLRIX	PIMCO Long Duration Total Return Fund	Long-Term Bond	Aug 30, 2006	0.50%	-1.25%	1.91%	4.23%	11
PTCIX	PIMCO Long-Term Credit Bond Fund	Long-Term Bond	Mar 30, 2009	0.55%	-1.67%	2.89%	5.38%	15
RPLCX	T. Rowe Price Institutional Long Duration Credit F...	Long-Term Bond	Jun 2, 2013	0.45%	-1.66%	2.29%	4.98%	12
SBIFX	Sextant Bond Income Fund	Long-Term Bond	Feb 28, 1993	0.65%	-0.81%	1.28%	3.54%	20
SLDAX	SEI Institutional Investments Trust Long Duration ...	Long-Term Bond	Jun 28, 2012	0.14%	-1.38%	1.82%	4.71%	11
SOAIX	Spirit of America Income Fund	Long-Term Bond	Dec 30, 2008	1.12%	-0.23%	3.45%	6.12%	36
VLMIX	Vanguard Long-Term Investment-Grade Fund Investor ...	Long-Term Bond	Jul 9, 1993	0.20%	-5.93%	—	2.27%	2

The Best Long-Term Bond Mutual Funds

Risk vs. Return Scatterplot