Long Term Bond Returns
This is the NAV performance of Wells Fargo Advantage High Yld Bond EKHBX that started in Sept 1935 till today. I find it strange that NAV continuosly falls over time even as yields fell to 1946 and then rose to 1981 and fell again. (You can check out the fund and data here http://www.msn.com/en-us/money/funddetails/fi-FOUSA00DCT?symbol=EKHBX&form=PRFISB)
(There are two older mutual bond funds (Nicholas High Income I NCINX 5/1/1930 and DWS Core Plus Income SCSBX 4/24/1928) but I can’t find history of their NAV as I wanted to see what occurred around 1929).
At any rate, I take it the yield income is paid out so the “total return” is not shown but does the continuous drop in NAV surprise you and suggest poor management or is this expected?
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