In the five years through 2006, the Lehman Brothers High-
Yield Index had a compound annual return of 10.2 percent, twice
the return from the Lehman Aggregate portfolio over that period.
Since 1984, the compound annual return for high-yield bonds has
been 9.8 percent, but their risk level is a standard deviation of
12.3, according to Ibbotson Associates, nearly twice that of the
Lehman Aggregate portfolio.
Yield Index had a compound annual return of 10.2 percent, twice
the return from the Lehman Aggregate portfolio over that period.
Since 1984, the compound annual return for high-yield bonds has
been 9.8 percent, but their risk level is a standard deviation of
12.3, according to Ibbotson Associates, nearly twice that of the
Lehman Aggregate portfolio.
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