Bond Funds with Positive Impacts

While Benzinga mostly covers actionable trading ideas and news stories, we've decided to delve a bit deeper into personal finance. The team at Benzinga would like to assist readers with not just their investing endeavors, but their financial lives as a whole. And today, we continue this effort with bond funds that will not only improve your bottom line, but make the world a better place. In recent years, a growing push has emerged to invest both profitably and ethically. Leading the charge have been socially responsible and green investments – those that consider not only return, but the asset's effect on humanity and the environment. With this in mind, let's explore a few bond funds with positive impacts.

The Pax World High Yield Bond Fund has managed a five-year average return of over seven percent as of this writing – not bad given the market woes over the same period. Better yet, it offers the following advantages:

Note that Pax World focuses on sustainable investing in all of its funds. Thus, even if this particular fund isn't performing well when you decide to invest, check out some of the others offered by Pax World if you're interested in investing both profitably and sustainably.

For the anti-tobacco crowd, the Calvert High Yield Bond Fund is an excellent option. It avoids investing in tobacco companies, making it one of many solid socially-responsible investments Calvert offers. As of this writing, its five-year load-adjusted return is 7.33 percent and it ranks 42nd in its category – not bad. Calvert has integrated environmental, governance and social research into its selection process, making it an overall solid choice for those interested in such issues. Related:

The Domini Social Bond Fund makes investments directly into underserved communities. And, it does so while earning a decent yield. As of this writing, its five-year, load-adjusted return is 4.23 percent, which isn't all that bad for a socially-responsible bond fund. Those with liberal political beliefs will find Domini offers solid investing opportunities in general, given the company's mission revolves around numerous social and environmental agendas.

The Timothy Plan High Yield Bond Fund has also posted a five-year, load-adjusted return of over seven percent, giving it a solid performance record to bank on. Like all Timothy Plan investments, it is geared toward family-minded investors. That's because it seeks to avoid investing in anything related to abortion, alcohol, alternative lifestyles, anti-family entertainment, gambling, pornography or tobacco. In general, Timothy Plan is an attractive investment provider for politically conservative investors or those who otherwise hold traditional family beliefs.