Which of these represents a fixed income investment?

A bond represents a fixed income investment because it is a debt security issued by corporations, municipalities, or governments, whereby the issuer borrows funds from the bondholder at a fixed interest rate over a specified period. The bondholder receives regular interest payments, typically at predetermined intervals, and the principal amount is returned upon maturity of the bond. This creates a predictable and stable income stream, which is characteristic of fixed income investments.

In contrast, stocks are equity investments that do not guarantee income or return of principal, as their value is subject to market fluctuations. Mutual funds can hold a mix of stocks and bonds, and while some may focus on fixed income, many also include equities, leading to variable returns. Real estate properties can generate income through rent, but they are subject to market variability and do not provide the same level of fixed income reliability as bonds do.