Getting Real by Mark Freeland I appreciate the info about real estate funds, and the tables, but a quick search at Vanguard, Schwab and Fido shows that none of the three GO funds Mr Freeland has in the table with the best Sharpe Ratios over five years ( TIPRX VCMIX GIREX) are available to individual investors.
A broader search since inception shows the same 14 great owl funds, but again the only ones with Sharpe ratios over 1.02 and std dev under 10 and Max DD under 8% are unavailable to individual investors, and are all interval funds.
An interval fund is not traded daily, and the company is not obligated to allow redemptions at any time other than the end of the quarter and then for only 5% of total assets. If everyone wants out, too bad, even if you need the money to pay for junior's college.
While the Apollo fund apparently is available directly thru Apollo, with a low minimum, there is a sales charge.
MFO Premium search has a function for interval funds, but only to search only for them, not to exclude them.
I am glad Mr Freeland put in the hard work gathering the information, but it is less useful to us individual investors than I initially thought, as the best funds are really unavailable.
TSP is going to offer mutual funds. BlackRock/BLK has been TSP fund manager for years (except for SV G Fund that is directly under the Treasury Secretary). State Street/STT was recently added as 2nd manager for small portions.
FWIW, the US Government also relied on Blackrock's risk asset management tools during the financial crisis.
M* Interactive Charting AWOL? Looking forward to hearing if this inability to compare ETFs to Mutual Funds is permanent. I suspect it is, since they now require a separate page for the chart itself. Just another nail in the coffin of M* for individual investors. Dumbing down the articles, eliminating insightful mutual funds reports in favor of computer generated junk.. the list of hits to M8 as a useful company goes on and on.
No reason to tell long time ( 30 years) customers ahead of time, now is there, M*?
Yahoo finance still charts some mutual funds with ETFs, but several funds have no chart available.
MFO charts show both ETFs and mutual funds, so it can't be a data stream issue, can it?
TSP is going to offer mutual funds.
Is that some drool I see on the lips of fund management country wide? (If you don't follow the TSP doings over time, you have missed the various political maneuvers used over the
years in an attempt to move the TSP into the skim paradises (female owned small investment business promotion, letting more firms share the wealth and management, etc.) The flavor of the argument depends on who wants the expansion and what audience is being targeted. In the past, this has not been much of a threat.
My paranoid, suspicious mind is musing how, after this is sealed in superglue to the TSP program, the more egregious the costs, the better the argument for restructuring the fund more like retirement funds run elsewhere. (You know any old stable value fund is the same as the G-fund, all have index funds with low fees, etc.) Why not Voya; they throw the best parties? (adlib from Delaware move of their retirement funds from Fidelity to Voya.
And, yes, I do know that all my comments are just idle wondering and wandering.
TSP is going to offer mutual funds. As mentioned earlier, the TSP G Fund is a unique stable-value fund (SV) with its principal & accumulated interest guaranteed by Uncle Sam (most SVs are guaranteed by insurance companies; some by none, so check about yours). During the debt-ceiling dramas (also unique to the US), the Treasury taps G Fund temporarily but there is no risk of loss to its holders.
The SV rates keep up with the current intermediate-term rates. The SVs are available only within workplace retirement plans.
I have mentioned a rule of thumb elsewhere - prefer SV if its guaranteed interest well exceeds the 30-day SEC yield of bond fund under consideration. This has been so in recent years but may change as rate move up.
Dividend Paying Funds
One of the things I like about SCHD--for example--is that its top ten sectors do not show a reliance on consumer durables, utilities, infrastructure, or REITS for its payout. I like to buy those sectors separately.
That's precisely why SCHD is my largest ETF/OEF holding. I have other funds focused on those items, mostly CEFs but also some individual stocks.
The other point which hasn't been mentioned...in addition to the return remarkably close to that of the S&P 500, it also has 11.98% annual dividend growth over the last 5
years.
Sign me up for that.
Can Home Prices and Interest Rates Soar at the Same Time? ---- Maybe Not...... This trend of high mortgage rates and high home prices cannot persist forever. Home sale and mortgage application have been declining for several months. Because there is limited inventory of houses for sale, the pricing still climbs in certain part of the country. Boise and Phoenix are some of the hot spots.
The demand for larger houses was driven from the pandemic. Will remote working from home become the new working model for all profession? Majority of my friends have had several weeks of remote working, all have since return to work full time and vaccination was the key.
My guess is that there will be fewer and fewer buyers in next several years. Returning to the pre-pandemic situation is anyone guess.
Can Home Prices and Interest Rates Soar at the Same Time? ---- Maybe Not...... Here in Northern California several counties (Marin and Sonoma, to name two) have recently enacted moratoriums on short-term vacation rentals because the prevailing political wisdom is that short term rentals remove potential rental properties from the full-time rental market, thus contributing to the well-documented housing shortage.
Our Russian River home is located in Sonoma County, and for well over twenty years the house next to ours has been occupied by full-time renters. If it were removed from the full-time market that would indeed be one less house available for such renters.
It's not unusual for such renters to be unable to afford the entry barrier to purchase a house of their own, and I know that to be a fact with respect to the house next door. The people who live there are fully employed, and certainly contribute to the local economy.
I realize that governmental restrictions on the rental use of one's property can reasonably be regarded as an unjustifiable intrusion on an owner's property rights. But I also recognize the real need for affordable rental housing for those people who support the local economy. Frankly, with respect to my own opinion, I'm unable to resolve this contradiction.
Vanguard mutual fund screen? Fido Screener is quite good. It is the only screener I know that combines mutual funds and ETFsIronically enough, if one can find Vanguard's screener, the first criterion shown (as a
radio button) is Product Type:
- Mutual funds
- Exchange-traded funds (ETFs)
- Both
But it's missing a lot of other criteria, like M* ratings.
That works. Excluding no load funds hasn't worked since they launched, how many
years ago? Same for minimum investment. They still give you the Admiral funds even if you specify a lower limit. And then, some part of the beginning of every month they're not going to give you other fund families. I'm probably forgetting something.
They did send me a survey recently. And no. I wouldn't recommend Vanguard to anyone.
GQHPX Rajiv Jain is a very experienced fund manager who has delivered excellent long-term performance using a "quality growth" approach. His departure from GQG Partners would be a huge setback for the firm and represents substantial key-man risk. Another potential concern is that GQG Partners amassed over $91B AUM (as of 12/31/2021) in less than 6 years.
Thanks. I own both GQEIX and GQHIX and so the info you included is of interest to me. Under Parent tab, M* shows total net assets at $11B but it is possible M* did not include assets under separately managed accounts and other vehicles. It would be great if you are able to share a link or a source of the $91B you mentioned. Thanks.
Vanguard mutual fund screen? Not sure what you are seeking. Vanguard has a very basic comparison tool for their funds and other families. It provides 1, 3, 5, and 10
years performance, top 10 holdings, sector invested, historical volatility, expense ratio and minimum $ required.
Fidelity does not have a comprehensive too either. Perhaps you will have better luck with Schwab.
For most of my research, I start with MFO Premium which requires work on the selection parameters. Once I narrow down the candidates, it provides a rich set of information that you can sort through patiently.
Dividend Paying Funds OK - It has averaged nearly 14% a year for 3
years. I think you should buy it
@larryB.