These are the top funds in five major categories, ranked according to three-year returns. We primarily consider funds with managers in place for at least three years; the only exceptions are managers with at least three years’ experience in a similar capacity. We don’t rank funds with front or back-end loads greater than 3 percent or funds that are closed to new investors, have less than $25 million in assets, have minimums of $10,000 or more, have trust restrictions or are single-state muni-bond funds. All data as of 10/31/09.

Source: Morningstar, Bloomberg

The Louis Rukeyser Honor Roll

Funds that have been on The Rukeyser 100 more than 80 percent of the past three years (at least 29 out of 36 months) make it onto The Louis Rukeyser Honor Roll. Their names are in green and marked with laurels.

On the Move

– AllianceBernstein Muni Income National (ALTHX) has found its way onto our list by virtue of its high credit quality and a relatively low expense ratio of 0.68 percent. As municipal bonds continue to languish, lower fees can go a long way towards improving performance. But note that this isn’t a no-load offering; investors pay an initial sales fee of 3 percent. If you plan to buy into the fund, be sure to inquire about breakpoints or any other discounts to which you might be entitled.

– Despite its performance Loomis Sayles Global Bond (LSGLX) has dropped from our list, as its substantial allocation to dollar-denominated bonds put it at a slight disadvantage to some of its diversified peers. Still, it remains an excellent option for investors to diversify the fixed-income portion of their portfolios and offers a dependable 5.25 percent yield. Current investors should hold their positions, as the management team continues to have our full confidence.

Funds Added This Month

Alger Spectra C

AllianceBern Muni Income National

Amana Growth

American Century International Bond

American Century T/F Bond

Aston/River Road Dividend All-Cap Value

Berwyn

CGM Focus

Fidelity Capital & Income

Fidelity Select Consumer Staples

FPA Crescent

Guinness Atkinson Global Energy

Hussman Strategic Growth

Matthews Asia Pacific Equity Income

Northern Emerging Markets Equity

Northern Global Fixed Income

Perkins Mid-Cap Value J

Royce Special Equity

Scout Mid-Cap

T Rowe Price T/F Short-Interm

Vanguard Interm-Term Treasury

Funds Dropped This Month

Baird Intermediate Muni Bond

Dreyfus Disciplined Stock

DWS Managed Municipal Bonds A

FMI Focus

Kinetics Medical

Loomis Sayles Global Bond

Managers Emerging Markets Equity

Matthews India

Neuberger Berman High Income

Oakmark Equity & Income I

Parnassus Small-Cap

Payden Emerging Markets Bond

PIMCO Total Return D

Robeco Mid-Cap Value

Roosevelt Multi-Cap

Royce Premier

Rydex Biotechnology

T Rowe Price Mid-Cap Growth

TCW Growth Equities I

Vanguard Intermediate-Term Tax Exempt

Westcore Blue Chip