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The Goldilocks of Bond Funds

This Gold-rated Fidelity fund is a little more aggressive than the typical core bond fund, but not as bold as PIMCO Total Return.


Russ Kinnel: Fidelity Total Bond is a fund that I'd view as somewhere in between PIMCO Total Return on the one hand and Vanguard Total Bond Market Index on the other hand. It's an intermediate bond fund. It's not quite as bold as PIMCO Total Return, but it's also not passive, like the Vanguard fund.

Ford O'Neill has built a great record; that's why it's a Gold-rated fund. It's beaten both the index and its peers since he took over in '04. But what's interesting is, he doesn't try to make duration bets. This isn't a fund you should buy if you are looking for a fund that's going to be really short on duration when interest rates spike, or something like that. It pegs duration right at the benchmark.

Russel Kinnel does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.

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