There are plenty of choices in the Mutual Fund Bond category, but where should you start your research? Well, one fund that might be worth investigating is Western Asset Global Strategy Income I (SDSYX). SDSYX holds a Zacks Mutual Fund Rank of 2 (Buy), which is based on nine forecasting factors like size, cost, and past performance.History of Fund/ManagerSDSYX finds itself in the Franklin Templeton family, based out of San Mateo, CA. Western Asset Global Strategy Income I made its debut in October of 1995, and since then, SDSYX has accumulated about $795.26 million in assets, per the most up-to-date date available. The fund's current manager is a team of investment professionals.PerformanceOf course, investors look for strong performance in funds. This fund carries a 5-year annualized total return of 4.41%, and it sits in the middle third among its category peers. If you're interested in shorter time frames, do not dismiss looking at the fund's 3-year annualized total return of 5.95%, which places it in the middle third during this time-frame.When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. The standard deviation of SDSYX over the past three years is 9.31% compared to the category average of 13.64%. The fund's standard deviation over the past 5 years is 7.49% compared to the category average of 11.27%. This makes the fund less volatile than its peers over the past half-decade.This fund has a beta of 0.77, meaning that it is less volatile than a broad market index of fixed income securities. Taking this into account, SDSYX has a positive alpha of 2.11, which measures performance on a risk-adjusted basis.RatingsInvestors should also consider a bond's rating, which is a grade ( 'AAA' to 'D' ) given to a bond that indicates its credit quality. With this letter scale in mind, SDSYX has 20.81% in medium quality bonds, with ratings of 'A' to 'BBB'. The fund's junk bond component-bonds rated 'BB' or below-is at 67.06%, giving SDSYX an average quality of BBB. This means that it focuses on medium quality securities.ExpensesFor investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, SDSYX is a no load fund. It has an expense ratio of 0.62% compared to the category average of 0.79%. SDSYX is actually cheaper than its peers when you consider factors like cost.This fund requires a minimum initial investment of $1 million, while there is no minimum for each subsequent investment.Bottom LineOverall, Western Asset Global Strategy Income I ( SDSYX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and lower fees, Western Asset Global Strategy Income I ( SDSYX ) looks like a good potential choice for investors right now.Want even more information about SDSYX? Then go over to Zacks.com and check out our mutual fund comparison tool, and all of the other great features that we have to help you with your mutual fund analysis for additional information. For analysis of the rest of your portfolio, make sure to visit Zacks.com for our full suite of tools which will help you investigate all of your stocks and funds in one place. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Get Your Free (SDSYX): Fund Analysis Report To read this article on Zacks.com click here. Zacks Investment Research