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Is there any advantage to having a load fund?

Maybe. If you are receiving valuable investment advice and handholding, it may be worth the load. But if you are doing your own fund selection and can get by without continued hand-holding (and many people find they actually do better without the handholding once they get some knowledge of investing under their belt), the loads end up being pocketed without adding value, so it is then better to not pay for a service you aren't receiving.

The other time one may consider a load is when there is no no-load equivalent of that fund.

Personally, I make use of an investment professional because I don't trust myself with bear markets, but I know that I am getting less money actually invested in exchange for her advice and help. But I am probably in the minority here on Actually, I have a foot in each camp: my regular (taxable) investments are in load funds through her, but my 403(b) investments are through TIAA-CREF, which is a no-load, low-expense investment organization and provides almost no hand-holding.
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