11.   All closed-end funds tend to sag in December because of year-end tax selling.

12.   But good bond funds tend to make up the lost ground in the other years.

13.   But Ms. Lisanti emphasized that the fund tends to hold onto its new issues, not to take advantage of their initial runup and then sell.

14.   But mutual fund firms argue that average expense ratios are rising because more funds are being introduced, and newer funds tend to have higher expenses.

15.   But the fund tends to focus its portfolio on name-brand stocks such as Philip Morris, Ralston-Purina, PepsiCo, Kellogg, and Nabisco Holdings.

16.   Even the diversified funds that excelled tended to have heavy holdings in these areas.

17.   Foreign index funds tend to be more volatile than managed funds.

18.   For one thing, the biggest funds tend to buy bigger stocks, Morningstar found.

19.   Funds tend to become more difficult to manage as they swell, because they are simply harder to maneuver when the market switches directions.

20.   High-turnover funds tend to leave investors with bigger tax bills than their slower-moving cousins.