FYI: Equity-income mutual funds seek to produce income as well as capital appreciation for investors.
That combination worked well for the fund category during the dot-com bubble burst and the following 2002-07 recovery period. During those periods, equity-income mutual funds outperformed the S&P 500, a proxy for the broad stock market.
In fact, equity-income funds have outperformed the S&P 500 for the past 15 years.
An investment of $10,000 in the average equity-income fund on Dec. 31, 1999, would have grown to $26,752 by Feb. 20 this year, according to Morningstar Inc. data. The same sum left to ride on the S&P 500 would have grown to $19,173.
Regards,
Ted
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