Below are four mutual funds that invest primarily in Ginnie Mae bonds and are highly rated by Morningstar. Ginnie Maes are pools of mortgages guaranteed by the Government National Mortgage Association.
Each has a minimum initial investment of $3,000 or less, making them accessible to most average investors. Each also has a gold, silver or bronze medal rating under Morningstar’s analyst ratings, a subjective system which attempts to gauge a fund’s performance prospects, not just its past record. The scale runs from gold to silver, bronze, neutral and negative.
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