What is typically not a characteristic of a bond?

A bond is essentially a debt instrument used by entities such as corporations or governments to raise capital. The holder of a bond is a creditor to the issuer, meaning they lend money in exchange for periodic interest payments and the return of the principal amount at maturity.

Ownership in a corporation is typically associated with stocks rather than bonds. When you own a bond, you do not gain ownership or equity interest in the issuing entity; rather, you have a claim to be repaid the amount you invested plus interest, but without any stake in the company's profits or decision-making.

The other characteristics of bonds—regular interest payments, a maturity date for repayment, and a fixed income feature—are fundamental aspects of bonds. Regular interest payments, often referred to as coupon payments, provide predictable income over the life of the bond. The maturity date signifies when the principal must be repaid to the bondholder, and the fixed income feature reflects the consistent, predetermined income that bondholders receive, making bonds a popular choice for investors seeking stability in their investment returns.