(MONEY Magazine) – Income investors who want equity-like returns can take a chance on sizzling emerging markets bond funds, which invest in debt issues in Latin America, Eastern Europe and the Far East. For the 16th month in a row, emerging markets funds captured every one of our one-year top-performer slots. Still, domestic high-yield bond funds had the best average returns among our five broad bond categories, beating out second-place world income funds by at least 1.6 percentage points for the past one, three, five and 10 years.

[Text not available--table ranking top-performing taxable funds (% sales load) for one year, three years, five years, ten years, and ten biggest funds (ranked by size); table ranking top-performers by one-year return (% sales load) in the following categories: U.S. government, investment-grade corporate, high-yield corporate, mortgage-backed, world-income, and tax-exempt]