Investment adviser Doug Fabian warned investors of load funds in his most recent installment of his Lemon List, saying they could be hit with a double whammy if they buy into these funds. Things were so sour among these products that 75% of the 601 funds on the list not only severely lag their benchmarks, but also charge a commission and high management fees.

Fabian, editor of the 26-year old investment advisory service, Successful Investing, publishes the list once a quarter. To make the list, a lemon must trail its benchmark by 25% for the past 12 months and underperform for the past three- and five-year periods.

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