Fixed income funds are generally split up into four groups according to what type of bonds the fund concentrates in.
- Corporate Bond Funds.
- Government Bond Funds.
- Municipal Bond Funds.
- Mortgage-Backed Funds.
These groups are in turn split into three sub-categories, according to the life span of the bonds they hold.
- Short Term (less than 5 years).
- Intermediate Term (5 to 10 years).
- Long Term (more than 10 years).