Which of the following is NOT one of the main categories of mutual fund risk?

Investment opportunity risk is not classified as one of the main categories of mutual fund risk. In the context of mutual funds, risks are typically categorized into several distinct types that directly impact investment performance.

Market risk refers to the potential for losses due to changes in market prices, which can occur because of economic conditions, investor sentiment, or other factors. Credit risk involves the possibility that a bond issuer may default on payments, affecting the value of fixed-income investments within the fund. Interest rate risk is related to the potential for changes in interest rates to negatively influence the value of bonds or fixed income securities held by the mutual fund, typically impacting a fund’s performance as rates rise.

Investment opportunity risk, on the other hand, is less commonly discussed in traditional mutual fund risk assessment and relates to the chance that an investor may miss out on a potentially profitable investment. This concept does not directly fit into the typical categories of risk associated with mutual funds, which center around the volatility of market conditions, creditworthiness of the securities held, and the impact of changes in interest rates. Hence, identifying it as "not one of the main categories of mutual fund risk" reflects an understanding of how risks are usually classified in the field of investment.