Federated Bond FISHIX

Morningstar Rating

Fund Research and Analysis

by Harry Milling

Federated Bond may be too adventurous for some.

Generally speaking, Federated's fixed-income funds tend to prioritize capital preservation over high risk/reward bets. At first blush, this fund, which mainly invests in corporate bonds, seems cut from Read more

Kudos

Experienced management.

Solid record. Read more

Risks

High expenses erode long-term returns.

Near-exclusive focus on corporate bonds hurts when the economy falters or government bonds fare better.

Above-average high-yield stake.

Above-average volatility. Read more

Strategy

This fund employs a more aggressive strategy than the typical intermediate-term bond fund. Lead manager Joseph Balestrino focuses almost exclusively on corporate bonds and devotes a considerable chunk Read more

Management

Joseph Balestrino, who has run the fund since 1993, oversees the day-to-day management of the fund. Mark Durbiano, who has run Federated High-Yield for more than two decades, is responsible for the fund's high-yield, or lower-quality, picks. Read more

Inside Scoop

This aggressive intermediate-term bond fund concentrates almost exclusively on the corporate-debt segment of the U.S. bond market. Read more

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