Here's a comparison of the costs of investing $50,000 in a portfolio of 
individual investment-grade bonds vs. comparable mutual funds that invest in 
investment-grade bonds.

BOND TYPE    COST TO BUY     COST OF LOW-PRICED      COST OF AVERAGE
             BONDS*          BOND FUND               BOND FUND

TREASURY     0.13% ($65)     0.15% ($75)             0.77% ($385)

CORPORATE    0.11% ($55)**   0.20% ($100)            0.74% ($370)


* TO REALIZE THESE COSTS, AN INVESTOR MUST HOLD TO MATURITY
** APPLIES TO AAA-RATED BONDS

DATA: SCHWAB CENTER FOR INVESTMENT RESEARCH