Investors should expect this to be the total return from a U.S. total bond market index fund over the next 10 years.

FORBES: The Next 10 Years

The PIMCO Total Return Exchange-Traded Fund (BOND) is a diversified portfolio of high quality bonds that is actively managed in an effort to maximize return in a risk-controlled framework.

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In 2012, the average municipal bond fund had a total return yield plus price appreciation of 8%.

WSJ: Conquering Retirement: The Case for Muni Bonds

We also continue to own some traditional bonds funds, such as PIMCO Total Return Fund, in addition to other income-oriented investment vehicles such as the Nuveen High Yield Bond Fund, which yields more than 7%.

FORBES: Hedging Your Risk Without Missing The Bull Market

The launch of the Pimco Total Return Exchange-Traded Fund will test the mettle of investors with trillions of dollars invested in traditional bond mutual funds.

FORBES: Pimco Total Return ETF Shines a Light on Transaction Costs