Bond investors did even worse against the Barclays Capital Aggregate Bond Index, Dalbar says.
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Mr. Gross's fund returned 4.16% for the year, its worst performance since 2006 and far behind the benchmark Barclays Capital Aggregate Bond Index's 7.84% gain, according to Morningstar.
The current interest rate on investment grade bonds, as measured by the Barclays Capital Aggregate Bond Market index is 2.0 percent.
There isn't an actively managed U.S. mutual fund that invests solely in Australia, but there is an exchange-traded fixed basket of Aussie stocks, the Ishares Morgan Stanley Capital Index Australia Index Fund from Barclays Global Investors.
The Barclays Capital U.S. Aggregate Bond Index is an investment-grade domestic bond index.
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That is enough to gobble nearly one-third of the recent 1.94% yield on the Barclays Capital U.S. Aggregate Bond Index.
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The fund posted a return of 5.75% through Friday, beating the 2.37% on the Barclays Capital U.S. Aggregate Bond Index, according to data from Morningstar.
The fund had handed investors a return of 3.79% this year through Monday, compared with 7.86% on the Barclays Capital U.S. Aggregate Bond Index, according to Morningstar.
Pimco Unconstrained, meanwhile, launched in June 2008, has returned an annualized 7% in the three years through August, versus a 7.2% return for the Barclays Capital U.S. Aggregate Bond Index.
The Barclays Capital U.S. Aggregate Bond Market Index and the newer U.S. Aggregate Float Adjusted Index are composed of investment grade U.S. bonds.
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The SPDR Barclays Capital Short Term Corporate Bond ETF ( SCPB) seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Barclays Capital U.S. 1-3 Year Corporate Bond Index.
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