For each pair of funds listed, select the one that is likely to be less risky. Briefly explain your answer.

a. Growth versus growth-and-income funds

b. Equity-income versus high-grade corporate bond funds

c. Balanced versus sector funds

d. Global versus value funds

e. Intermediate-term bonds versus high-yield municipal bond funds

f. Target date fund with a target date of 2020 versus one with a target date of 2040