The primary goal for growth funds is capital appreciation. These funds generally do not pay any dividends. The assets in the fund may be more volatile due to the nature of high-growth companies. You must have a higher risk tolerance due to the volatility. The time frame for holding the mutual fund should be five to 10 years.
If you're seeking to generate income from your portfolio, consider bond mutual funds. These funds invest in bonds that have regular distributions. These funds often have significantly less volatility, depending on the type of bonds in the portfolio. Bond funds often have low or negative correlation to the stock market. You can, therefore, use them to diversify the holdings in your stock portfolio. Diversification is a good method to protect your portfolio from volatility and draw downs.