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<let's say I buy into a bond fund at $1,000 per month. In a month when the NAV is low, I purchase more shares of the fund - when the NAV is high, the $1,000 buys less shares - so over time my cost per share should work out well. It would work that way with a stock fund anyway - I'm wondering if the same holds true for a bond fund?>

Yes, it does hold true.

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