High-Yield Stake Hurts Van Kampen Worldwide High Income
Patriotism damages Van Kampen Worldwide High Income.
Patriotism damages Van Kampen Worldwide High Income.
Van Kampen Worldwide High Income Fund's (MSWAX) shareholders are probably wishing it was just a little more pure-of-heart.
This fund's slug of U.S. high-yield bonds means it doesn't look the same as its rivals in the emerging-markets bond category. Being different hasn't paid off, though. Bond markets in developing regions are on a tear for the third year in a row, and the average fund in the category has gained almost 3% for the year to date through April 5, 2001. This fund, on the other hand, has suffered for its exposure to the U.S.'s weak junk-bond market and has lost 2% of its value, lagging more than 90% of its peers.
Gabriel Presler does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.