The 12-month yield on the loans, which are unrated and therefore riskier, was 4.53% as of 1/31/11, says Tom Roseen, senior Lipper research analyst.

但是，此类基金的年收益由于尚未被评级，因此风险更高，到2011年1月31日，收益为4.53%，理柏公司的资深研究分析师汤姆•罗西恩介绍说。

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Roseen says individual investors are also headed to multi-sector income funds -- a "kitchen sink" array of bonds that have yielded 5.17% in the last year, he says.

罗西恩表示，个人投资者还纷纷涌向多领域收入基金，即厨房下水道债券（kitchen sink bond），去年，这类基金的收益为5.17%。

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That's the first time since 2000 the tax drag exceeded 100 basis points, Roseen notes.

FORBES: Markets Down, Taxes Up

Roseen's report isn't about the taxes investors pay when they sell mutual fund shares for a profit.

FORBES: Markets Down, Taxes Up

Moreover, Roseen raises the possibility that mutual fund investors could be hit with a "double whammy" in 2008, as they were in 2000.

FORBES: Markets Down, Taxes Up