@JD_co, many investors are extending their bond maturities as the FED is near the terminal rate hike. There may be one more hike in Nov/Dec rate hike. The rate is likely stay there for awhile unless the economy tanks and slides into recession. The 5% yield money market May not be there several years from now. Money flow into intermediate term bonds has started and likely to increase into next year that fits the Q1 comment above.

I noticed that VWEAX had double the MD of OSTIX in both 2020 and the GFC era. However, CAGR over 15 years is OSTIX 5.23% VWEAX 5.38% relatively close.

HSA annual contribution limits are (single/family):
2023 $3,850/7,750
2024 $4,150/8,300
There is also additional $1,000 catchup for 55+.
https://www.fidelity.com/learning-center/smart-money/hsa-contribution-limits

She is single and would be able to contribute the full amount of $5,150 in 2024. In a 32% tax bracket, does that mean she would be saving $1,648 in taxes?
And, assuming that she works 3 more years and for easy math, have $15,450 ($5,150 x 3) available for qualifying medical expenses (deductibles, co-payments, etc.)?

One huge benefit of HSAs is years of buildup of funds ....

If she is only going to work 2-3 more years, I wonder if it is worth her while to sign up for the HSA now and deal with unenrolling from Medicare Part A with the Social Security Administration. However, she is in a 32% tax bracket.

Average life expectancy for a US female aged 65 is about 20 years (shorter than 2/3 of the other OECD countries). That's two decades of appreciation.
Even a non-spouse heir can withdraw the HSA assets tax-free, so long as she keeps records of qualifying expenses. The heir must make the withdrawals within a year of death.
https://tax.thomsonreuters.com/blog/what-happens-to-the-funds-in-an-hsa-after-the-account-holder-dies/

Michael Hasenstab started co-managing Templeton Global Bond (TPINX) on 12/31/2001.
He started managing Templeton Global Income (GIM) on 02/28/2002.
The two funds generated excellent returns for years.
Mr. Hasenstab was subsequently named M* 2010 Fixed-Income Manager of the Year.
However, Hasenstab's funds have underperformed for a long time after he lost his mojo.
I owned GIM for several years but exited long ago.
There is a 2022 MFO thread regarding GIM and Saba Capital Management.
Link

@Mona, yes, HSA contributions are not allowed while on Medicare.
Employers may now require Medicare signup for eligible employees. Mine kicked me out of the group plan as soon as I became Medicare eligible (as a retiree).
One huge benefit of HSAs is years of buildup of funds and that won't happen with late signups.

If she is only going to work 2-3 more years, I wonder if it is worth her while to sign up for the HSA now and deal with unenrolling from Medicare Part A with the Social Security Administration. However, she is in a 32% tax bracket.

Newer term-structure CEFs PDO and PAXS have discounts that will disappear in a few years. Many avoid them just because they are newer, but they are more attractive than their older BIG cousin PDI.

10/27 Episode:

In a world where stocks have been the go-to asset class for income and returns, bonds are making a comeback. That’s the view of Mary Ellen Stanek, Co-Chief Investment Officer of Baird Advisors and President of the Baird Funds, who says that the Federal Reserve’s aggressive rate hikes have made bonds more attractive to investors.
Stanek argues that the rapid rise in interest rates has created opportunities in the fixed-income market, as bond yields have increased to their highest levels in years. This means that investors can now lock in higher yields for their money, which can provide a valuable source of income and diversification in a volatile market.

@yogibearbull, she is still employed (she figures at least two more years) and her employer does not require her to sign up for Medicare. She signed up for Medicare Part A when she turned 65 to get it out of the way and because it was free, not thinking that she may be interested in an HSA. Her employer seems to be cutting healthcare costs by increasing her contribution and changing to a Blue Cross plan with higher co-pays and deductibles.

@Mona, yes, HSA contributions are not allowed while on Medicare.
Employers may now require Medicare signup for eligible employees. Mine kicked me out of the group plan as soon as I became Medicare eligible (as a retiree).
One huge benefit of HSAs is years of buildup of funds and that won't happen with late signups.

If you want exposure to JOE just buy it! Why pay the fee? FAIRX owns 35%.Berkowitz lost me years ago with his erratic concentrated positions

Funds mentioned have a bulge in 5-yr SDs. That is because they have full impact of pandemic 2020. The 3-yr window is just getting out of the main pandemic hit, and 10-yr reduces the pandemic impact as there are many non-pandemic years. That is why it is also useful to look at charts beyond summary statistics.
Another thing to note is that funds evaluated are of different types - ST-HY, IT-HY, multisector (that includes sovereigns + corporates + HYs + EMs), so they are expected to behave somewhat differently.
HY indexed ETFs are HYG, USHY, JNK, etc.

Unlike Mr. Sherman, I assumed the OP was talking about 3 yr stddev, because OSTIX's 5.46% is close to the target 5.20%. The latter is just enough lower to make it worth looking at a fund that is at least that much "better". In contrast, OSTIX's 10 yr stddev of 4.68% is not close to the 5.20% target.
Here's another fund that beats OSTIX over 3, 5, and 10 years with 3 year std dev below 5.2%.
MDHIX (avail @$2500 min in Fidelity IRAs)
Returns (10/27/23) 3.68% 3.64% 3.96%
Risk (09/30/23)
Sharpe 0.46 0.28 0.58
Std Dev 4.24 6.26 5.13
Upside 78% 75% 78%
Downside 6% 29% 14%

I warned about PIMIX since early 2018 (after holding it for about 7-8 years at a huge %) when I sold it and never looked back. RCTIX is a good replacement.
But, most bond funds have done badly since early 2022 because the Fed have been raising rates. In that environment, bank loans shine...and they did (less in 2022 and a lot more in 2023).
EIFAX is my LT favorite BL but FAFRX has been shining for months. A chart of all 5 proves it. (https://schrts.co/sszRneNS).
In fact, in 2023 EIFAX+FAFRX beat most generic stock categories such as SPY,IWM(SC),VGK(Europe),EEM while growth/QQQ beat them all easily. See YTD chart(https://schrts.co/yKTxTKtQ)
Who said that bonds can't make money?

@BaluBalu- This question has risen several times over the years. If I understand the situation correctly, the software platform used here does not support that option.

Pl read the last conversation I had with David (and @hank) on the subject. My recollection is it was an investment decision.
Do we have Ignore Thread feature?

@BaluBalu- This question has risen several times over the years. If I understand the situation correctly, the software platform used here does not support that option.

If the U.S. is in such dire straits, what is the fascination with U.S. government issued / government backed paper? What gives you confidence that this government’s Treasury Department would make good on those T-Bills 3, 4 or 5 years out? What makes you think the FDIC wouldn’t be corrupted by than and your “government backed” CDs held worthless?
Is it wrong to assume that your chances of getting your money back are at least as good as (and possibly better than) those government “guaranteed” pieces of paper if wisely invested among a portfolio of good corporations? And if your machinations about this country’s future are dark and foreboding, why not move some of your assets abroad to safer havens? Foreign domiciled companies? Swiss francs? How about hard assets like gold and silver or real estate?
Even a badly adrift thread like this might lend itself to some serious discussion of investible assets.

DODEX was discussed in the following MFO thread.

+1
D&C is a fine house. Low fees for actively managed funds. I was there (no longer am) about 20 years. Always felt like they were a bit more aggressive on their equity investments than some, which paid off handsomely if you had the patience to hang in there. Just an unscientific impression. Privately held (I like) and a history dating back to the 1930s.

I also like D&C for many of the reasons you state.
1) Privately held
2) Low expense ratios for active funds (right out of the gate)
3) Team-managed
4) Managers and analysts are long-tenured
5) Never created mutual funds to take advantage of latest investments fads - manage only 7 distinct funds

DODEX was discussed in the following MFO thread.

+1
D&C is a fine house. Low fees for actively managed funds. I was there (no longer am) about 20 years. Always felt like they were a bit more aggressive on their equity investments than some, which paid off handsomely if you had the patience to hang in there. Just an unscientific impression. Privately held (I like) and a history dating back to the 1930s.

Just checked CD and MM rates at Schwab. Lots of CDs in the 5.5 range, and for the first time in awhile, all CDs from 3 month to 5 years, are paying at least 5%. That seems to project a lot of confidence by banks that CD rates are going to stay high for a long time. For those more interested in liquidity, MMs are paying as high as 5.23% to 5.38% in their Prime MM Funds.