Over 700 finance terms, Shmooped to perfection.
See Equity Income Fund. Income funds are usually the domain of old people. Or just retired people. Or people scared of their own shadows... or at least scared of the market. An income fund's goal is to produce income. Most income funds are comprised mostly of bonds. They don't grow. They just produce cash, which gets distributed back to the shareholders. Sometimes income funds consist of dividend-paying stocks.