This year is shaping up to be eerily similar to 1990.  In that year, in the summer and fall, many junk funds fell by 25% in 3 months as folks headed for the exits and lack of liquidity caused prices to fall.  Overall, the average fund lost 9% that year.  VWEHX lost 5.49%.

We are about halfway there this year.

The next year the average fund gained 35% and VWEHX gained 27.62%.

best,

Bill