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Bonds and bond funds can be an integral part of most portfolios. Not only can they can bring some stability to help guard against big losses, but in some cases they can also generate a healthy return.

But bonds can also be a drag on your portfolio if you're not thoughtful about what you're buying. The key is to understand what you want to accomplish with bonds, and invest only in those that make sense for you and your investment goals. Paying attention to taxes and fees is also crucial.

Here are 10 ways that bond investing may be sapping the energy from your portfolio.

1. You Are Investing in Too Many

If you're young, you don't need a heavy dose of bonds, as their generally lower returns can be a drag on growth. Bonds help stabilize a portfolio, but young people have a long time horizon to make up losses, and can afford to be more stock-heavy in their investments. Consider scaling back your bond exposure to 15 percent or less, or even none at all.

2. Your Bonds Aren't Good Bonds

Sometimes you choose a bond or bond fund because it's what's offered in your 401(k) plan or because someone recommended it. But is it actually a quality investment? Did you do your research to see if you can get into something better? Look to resources like Morningstar (MORN) for ratings on bond investments, historical performance, management and fees.

3. Fees

Some bond funds may take 1 percent or more in management and other fees. There's not a lot of evidence that high fees will result in better investment performance. Look for funds that have low expense ratios of a half-percent or less, such as the Vanguard Total Market Bond Index Fund.

4. Taxes

If your bonds are in a taxable brokerage account, it may be best to get tax-free municipal bonds to save on that tax bill. Interest on most corporate bonds is taxed at the ordinary income rate, but you may be able to avoid taxes if you choose municipal bonds. Consider placing any taxable bond investments in a tax-advantaged retirement account, such as Roth IRA or 401(k).

5. Your Bond Selection Is Too Conservative

If you are close to retirement, you may be best investing in a stable bond fund without much volatility. But if you are younger, you're going to want some growth, too. You might be best off with a high-yield bond fund, which carries more risk but the potential for greater returns. Don't let fear prevent you from taking a little risk. If you're years away from retirement, you can afford to be a little more aggressive.