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).