Mutual Funds are the most common form of investment for the average household. They offer a fair amount of return for a limited amount of risk. Segregated Funds are similar to mutual funds with the exception of additional insurance-related features that help protect initial investments. These features and higher management fees for segregated funds raise the question of whether there is a reduced risk and if the funds are managed better. It is important to understand the risks and returns of the fund types and better understand the advantages and disadvantages to each. By performing a statistical analysis on a variety of funds, this book attempts to verify which fund type would be best and if the higher cost ''pays off''. VaR (Value-at-Risk) analysis and probability distribution modeling allows this book to demonstrate how to best model the results and puts forth the positives and negatives of each fund. This book gives important insight with respect to what one can expect from these investment types, so that one can become a more informed and shrewd investor.