Weakness in the economy may make it more difficult for managers of high-yield funds to match last year's stellar returns.

So far, Drexel's problems have not prompted a significant exodus from high-yield funds.

Only 23 of 137 high-yield funds followed by Lipper are outdoing the index.

Because of the high costs associated with buying individual junk issues, high-yield mutual funds are the way to go for most investors in this market.

Q. How should you shop for a high-yield fund?

Investing in a high-yield fund should not be a substitute for a money market fund.

They are doing so even though the sector remains exceedingly popular: $28 billion has poured into high-yield mutual funds since September 2002.

That contrasts with about 7 percent for the average high-yield fund, Ms. Bush said.

He would put up to a quarter of a portfolio into high-yield funds, depending on risk tolerance.

But for the first half of this year, it was the best-performing high-yield fund, with total return of 15.5 percent.