Corporate Bond Funds

Corporate Bond Funds

Fund: Calamos Convertible & High Income Fund
Fund Type: Closed-end fixed-income fund
2008 Fund Performance: -41%
Recommended by Rob Lutts, chief investment officer at Cabot Money Management

"Fixed income is the new equity," Lutts says, arguing that 2008's sell-off in corporate bonds creates opportunities for investors to get large equity-size returns from safer bonds. The Calamos Convertible & High Income Fund (CHY) is a good way to do that, he says.