A: All the statistics suggest that there is no difference in performance between load and no load funds before taking the sales charges into account. Once you do take the loads into account, no-load funds on average outperform load funds by the amount of the load.

One of the defenses you will get from load fund advocates is to point to a certain group of load funds that have performed terrifically in the past.

Then these people will say, "even with a load, these funds produce great returns for their shareholders." The problem with that argument is that no one can guarantee that past performance can be repeated in the future. If you could guarantee that, you should certainly be willing to pay a 20 percent load for a fund that returns 60 percent that year.

If you pay a load, it means you are starting the performance derby in the hole. Our feeling about this issue is pretty simple: If you need help, go to a financial professional and be prepared to pay for his or her services. The charge may come in the form of a load. If you could pick your fund and make other financial decisions on your own, it is best in no-load funds.