I don’t have time to run an accuracy check of everything this M* contributor claims. So please don’t hold me accountable. But I do agree with her that for some (myself included) using a benchmark can be helpful, as long as the risk / reward profile fits with your own. As the author asserts, this can be an index / combination of indexes or a mutual fund / combination of funds.
Morningstar Article
As a 25+ year investor with TRP I’ve generally used one or two of their funds for this purpose. For years my benchmark / tracking fund was their 40/60 retirement fund TRRIX. Beginning this year it flipped to their PRSIX - a nearly identical fund, but with a 5% weighting in a hedge fund. Performance wise they’ve also been nearly identical over the years.
The value of benchmarking is that over time (months / years) you arrive at an understanding of how your portfolio performs relative to the benchmark. If you find you’re deviating a lot more than you like it’s easy to modify holdings until your performance falls more in line with your tracker. There will always be exceptions, of course. Ideally you’d like to keep volatility (especially on the downside) similar to or below that of the tracker while enjoying somewhat superior overall performance. It’s a process that evolves over years and never really stops.
Friday, my combined portfolio gained .07% - one of the dullest days I can remember. However, my tracker, PRSIX, gained just .05%. IMHO that’s reason to be cheerful.

Mine are all different colors. Here’s my guess as to what’s happening this year from watching markets .....
Mostly Green - energy, commodities, real estate, financials, very short duration bonds, deep value funds - the kind nobody’s wanted for several years. (For example, recent outcasts OAKBX and *DODBX are having great years.)
Mostly Red - Intermediate and longer duration bonds and bond funds, gold, aggressive growth funds - much loved in recent years.
Yellow - Moderate or conservative allocation funds: *ABRZX +1.61% YTD,
*PRSIX +1.91% YTD
With exposure to just about everything above, my results this year have been quite colorful. :)
* Denotes a fund I own

I'm rather certain that over the long haul, you'd have reaped more profit from PRWCX than dividend-paying stocks. For years, the big Canadian banks have been my alternative fantasy portfolio. 90% of deposits in Canada belong to those big banks. There are only 5 or 6 of them. High dividends. Low P/E ratios. I would not go to BMO Bank of Montreal now, after recently learning here of their unethical shenanigans toward investors. But the others? Yes. My two favorites are CM and BNS. You're holding 15K in cash? Maybe you're very, very risk averse? If you just want the assurance of investing in solid companies that are not going to fold up and go bankrupt, and you crave the dividend income, then go for it. Just don't forget never to put all your eggs in one basket. Eh? CIBC: https://www.morningstar.com/stocks/xnys/cm/quote
Scotiabank: https://www.morningstar.com/stocks/xnys/bns/quote
But they are riding high, right now. EVERYTHING is riding high, or near all-time highs, even including the recent small (so far) drop-off. The Market's had a tremendous run-up since March of 2020. Wait for another pullback.
:)

Last years dog IOFIX +5.18%
And then there are some CEF bond funds - YTD returns Price/NAV all positive
PCI 8.56/2.55
PDI 5.69/1.67
PFN 4.33/0.85
PTY 1.65/2.28

@davidmoran “ Where if anywhere will you put spare moneys? Where should I put moneys now which I will not need for a few years (not a decade, but not 3-4y either)?” ...
Just saw your question back to me... since I like to ask questions when I’m unsure or want other viewpoints. Based on your question... that implies 2-3 years time horizon. If you need those funds in 3 years... conservatively - I would go S&P 500 Index. Not bonds. Not any kind of bond fund. But yes I suppose a nice 500 index would fair better in the next 3 years vs. in cash earning no money.
@michaelsaylor would suggest Bitcoin. But I still view that as Vegas gambling (for now).

My MMFs are up, short term, YTD, long term. I may die rich in a billion years.
With "cash alternative" funds like RPHYX, up 0.10% for the week, 0.14% for the past month, and 0.46% YTD, and "old faithfuls" like PRWCX, up 0.17% for the week, 1.85% for the past month, and 3.22% YTD, I suspect lots of people here have funds that are in the green.
According to M*'s screener, 1/4 of funds are up at least 3.77% over the past four weeks.
People tend to feel losses more severely than gains. That may explain your perception, which is not to say that major portions of the market have not dropped lately. Still, there are parts of the market, like international (e.g. VXUS) that are up for the week.
Personally, I don't look at individual funds' performance on a short term basis. I have a reasonably diversified portfolio, weatherproofed for down drafts, and usually just check overall performance.

@FD1000: "I know a bond fund that is up several % year to date + partially doing short + have a nice 3 years returns."
I wonder if it's the one I own that's up a shade over 6% ytd, with negative duration.

Is there a Bond Fund that Shorts Bonds? I know a bond fund that is up several % year to date + partially doing short + have a nice 3 years returns.
why-world-would-you-own-bonds-ray-dalio? Because many retires that have enough don't want to have the high volatility of stocks
There are ETFs that Short Bonds: No thanks, I want to find managers that do it for me, I hardly ever shorted anything.

https://www.advisorperspectives.com/commentaries/2021/03/19/taxable-municipals-myths-and-misperceptions
https://news.yahoo.com/9-best-municipal-bond-funds-211119796.html
Taxable Municipals – Myths and Misperceptions
by Tony Tanner of Ivy Investments, 3/19/21
Taxable Municipal Bonds grabbed the attention of not only municipal bond market participants in 2020, but also of investors and financial professionals globally across the asset class landscape.
9 Best Municipal Bond Funds to Buy and Hold
Debbie Carlson
State and local governments are in good shape.
***Like other asset classes, the municipal bond market rebounded after the initial sell-off last year because of the pandemic. Amy Magnotta, co-head of discretionary portfolios at Brinker Capital Investments, says state and local governments "are actually in pretty good shape, surprisingly, despite the pandemic," noting most state revenues were roughly flat in 2020 versus 2019. With President Joe Biden's stimulus money and infrastructure plan, and the reopening of many states' economies, the fiscal situation for many state and local governments might be good as they get cash injections. However, she says, with interest rates so low, investors need to be careful what funds they choose. Here are nine muni bond funds to buy.
Vanguard Tax-Exempt Bond ETF (ticker: VTEB)
Scroll to continue with contentAd
How to Know 72 Hrs in Advance Which Stocks to Pick
VantagePoint
How to Know 72 Hrs in Advance Which Stocks to Pick
Advanced A.I. “brain” consistently forecasts the stock market with up to 87.4% accuracy… 3 days in advance.
READ MORE
Todd Rosenbluth, director of ETF and mutual fund research at CFRA, says exchange-traded fund VTEB is a good place for muni bond investors to start when building this part of their portfolio. The fund tracks the S&P Municipal Bond Index, which is made of investment-grade issues and diversified across states. VTEB's annual cost is 0.06%, which amounts to $6 for every $10,000 invested, one of the lowest among its peers. The fund is free from both federal income tax from the alternative minimum tax. The yield is 2%. "It's a great core part of the portfolio," Rosenbluth says.
Baird Short-Term Municipal Bond Fund (BTMIX)
The municipal bond universe can be an inefficient asset class due to its large number of issuers, says Steven Saunders, director and portfolio advisor at Round Table Wealth Management, so his firm prefers to use actively managed funds where the managers can find relative value through security selection and yield-curve positioning. His pick is BTMIX, which "has demonstrated consistent value-add in these areas, and their short-duration strategy allows for defensive positioning in the event rates continue to rise." The fund has an annual cost of 0.3% and a yield of 1.5%.
- ADVERTISEMENT -
PIMCO National Municipal Intermediate Value Fund (GNMVX)
Mark Mumford, director at Hollow Brook Wealth Management, says his firm looks for municipal bonds strategies that have a strong emphasis on credit quality and issuer diversification. GNMVX tries to limit swings in assets under management which can negatively affect a municipal bond strategy, he adds. The fund has a low annual fee of 0.39% and a yield of 1.67%, with an effective duration of 5.3 years. The fund seeks investment-grade bonds with higher yields using fundamental credit research. "Municipal markets can be inefficient, creating opportunities for experienced teams to find value in a low interest rate environment," Mumford says.
Northern Intermediate Tax-Exempt Fund (NOITX)
Magnotta says with rates low and a recent pickup in market volatility, she prefers active management and is focusing on investment-grade munis. She chooses NOITX, because she likes that it has an experienced team with a long tenure, holds high-quality issues and has a liquid portfolio. She notes the annual cost of 0.46% is below average. "This is a strategy that long term is a good balance in a portfolio," Magnotta says. This fund has more than $3 billion in assets under management, and the average credit quality in the fund is A-rated.***
Vanguard Tax-Exempt Bond ETF (VTEB)
-- Baird Short-Term Municipal Bond Fund (BTMIX)
-- PIMCO National Municipal Intermediate Value Fund (GNMVX)
-- Northern Intermediate Tax-Exempt Fund (NOITX)
-- Nuveen Dynamic Municipal Opportunities Fund (NDMO)
-- VanEck Vectors High Yield Municipal Index ETF (HYD)
-- Nuveen High Yield Municipal Bond Fund (NHMRX)
-- Nuveen All-American Municipal Bond Fund (FAARX)
-- Northern Arizona Tax-Exempt Fund (NOAZX)
Several good reasonable funds considered to be added here especially for capital Preservation and retirement accts/and inflation worries.
We do have HYD but may add some to Mama retired portfolio
Enjoy
Happy Saturday

pkrug tweets today
A friend recently reminded me of this classic case of inflationista scare tactics during the Obama years; what we should have been getting ready for was unjustified inflation panic 1/
(this anent Get Ready for Inflation and Higher Interest Rates: The unprecedented expansion of the money supply could make the '70s look benign. wsj.com)
For a brief moment after the GOP took over the House, Rs went all in on accusing Ben Bernanke of debasing the dollar, basically because of a surge in commodity prices 2/
The Fed, however, stood its ground, because there was no surge in core inflation, which is (correctly) considered a much better guide to policy 3/
While core is usually defined by excluding volatile food and energy prices, the underlying logic is that you're trying to measure inflation inertia, which comes from embedded expectations of future inflation 4/
This time around it seems quite likely that we'll see a temporary spike in headline inflation — not just from food and energy but from various supply bottlenecks. A container shortage is driving up shipping costs 5/
Domestic shipping costs are rising, probably part of the same story 6/
Lumber is also spiking 7/
The important point is that none of this will indicate a return to 70s-type stagflation. It will all be a blip reflecting an economic surge plus some lingering covid-related disruptions. I'm sure the Fed understands that.
But be prepared for another inflation panic. 8/

@BenWP: I also live in the land of the pothole. I see these new sporty cars with 20" wheels and rubber the thickness of a rubber band, and I just shake my head. (I drive an ancient M Roadster, but my son is constantly sending helpful suggestions from BringaTrailer.com.) On the other hand, I bought my Volvo through the OverSeas Delivery program and drove it for 800 miles is Sweden before having it shipped home. Not a pothole to be seen the whole drive.
On inflation: Many years ago, I went to college. Even paying out-of-state tuition the total first-year cost was $3,000, all-in. Now, what if I had said, "Say, I'll put $3,000 under my mattress, and when I have a grandson he'll be all set for his first year!" Right.

The Vanguard International Growth Fund is subadvised by Baillie Gifford and Schroders.
James Anderson leads Baillie Gifford's efforts on the fund alongside Tom Coutts and Lawrence Burns.
Mr. Burns is slated to succeed Mr. Anderson.
These three gentlemen head up the portfolio construction group whose seven members average more than 19 years with Baillie Gifford.

I should have placed the below links in order of dates, but anyway..... there are some portions within the links below to YouTube videos, aside from the actual full length movie or documentary (PBS). The links are broad based so that you may look at whatever related; and present a view of union/company power struggles.
Companies and unions, the battle between the two; and IMHO is simply based with a system of honor between management/the company and the workers. A form of equality or fairness between making a reasonable profit for a company and a reasonable wage to an employee for their effort in helping making the profit. Sadly, honor is a most difficult condition for a human(s) to maintain.
Over many years power and corruption have afflicted both groups.
The modern era example links below, have long and deep roots from time periods long ago. Also, that the time frames below only reflect some of the larger events; while many such events were taking place in many smaller actions all across the U.S. wherever one found an industrial era operation.
As an 18 y.o. I worked for GM for 16 months, and was a UAW member by default. Not a large learning experience for me at the time, as my brain cells were not fully developed , regarding a union. My largest first time observation of the factory world was the changing of the flavors in the soda/pop vending machines placed through out the enormous facility. The week before major holidays found that any beverage flavor that did not mix well with vodka or a whisky were removed and replaced with a highly favored mixer. Yes, management was fully aware of a high percentage of the work force who were using alcohol during work hours. I knew two shift foreman (management) who had a good buzz in place, periodically; during their 12 hour shift. An old joke was, "Don't buy a new car/truck built during the holidays"........quality control ??? From the alcohol of the 50's through 70's, came weed, coke and other used by employees. Sadly, the protection of union members, by the unions, traveled too far beyond the norm; attempting to protect against anything that was not an actual murder on company property. So much for what should have remained anything to do with being honorable. EX: Assembly line workers taking turns "clocking out, old mechanical time clocks" one another out at the end of a shift, when they had already left the building after 1 hour of work. Problem: True story. Fella left work early, crossed through a nearby rail yard, caught shoe/foot in track/switch unit, needed recuse unit to free foot and had to be taken to hospital emergency from the injury. Appealed that he had a family emergency and had to leave work early; and no other actions were taken against him.
The Flint, Michigan sit-down strike had a significant impact to the work landscape for many years. The benefits of this action flowed into the non-union wages and benefits, too; at least in Michigan.
Too many other stories about the companies and the unions; the power and the corruption that plague both of them to this day. But, I'm done; and hope the write flow is not too disruptive.
Matewan coal mining strike, 1920's, fact based
Homestead Carnegie steel strike, 1892, fact based
The Molly Maguires 1970 movie circa 1870's, book/movie inspired by true events.
Copper Country strike, 1913, fact based
The game changer, Flint Michigan, sit-down strike, 1936-1937
Michigan, right to work law , an at will employee
A further restriction/addition to this law was signed by the governor in 2013; regarding union membership. Prior employee (non-union) rights already had many restrictions to rights of employment in Michigan. A real world example took place in 2003, of which; I was witness. A company was re-shaping their employee base and terminated 4 people who were in their late 50's-early 60's and not yet at a full retirement age. A "no charge" meeting was held with a pro-labor attorney, regarding that this action appeared to be a "age related discrimination" related termination(s). He offered his experience with such actions and stated that this was a no win case; as if one did not have a series of annual reviews over the years that were graded an "excellent", no basis could be brought forth. So, when one is graded via an annual work review, and there are 10 areas of grading, each area must be the equivalent of "excellent", the highest possible rating. This indeed, would be a rare event in any employee's career. The terminations remained in place. My personal note, is that these 4 where honorable and ethical persons who gave a good days work to the company.

Not a boo boo, just a fund that most people wouldn't be looking at. The fund is also a good answer to the question: who would buy a bond (or bond fund) with a negative yield?
T. Rowe Price used to offer a variable annuity. While it hasn't been available for new investors in years, it is still around. The only cash alternative in that VA is (soon to be "was") the Government Money Portfolio.
If investors wanted to flee to safety, this was their only option within the annuity. Even though YTD (through Feb 28) it had lost 0.07% (including VA fees), and over the past year it lost 0.43%.
https://fsbl.com/annuities/t-rowe-price-performance/
I'm not picking on TRP here. No matter how low VA fees are, when MMFs yield 0.01% (including subsidies), investors will lose money with them. Here's the only MMF offered in Fidelity's Personal Retirement Annuity. Its negative returns (-0.05% YTD as of March 17, and -0.16% over the year ending Feb 28) incorporate the VA fees.
https://fundresearch.fidelity.com/annuities/summary/FTNJC

Political Pressure on CEO Pay and Taxation:

Sanders invited Amazon CEO Jeff Bezos to testify at the Budget Committee hearing, but he declined to appear. Bezos’s salary was $81,840 in 2019, as it has been for many years. But the company calculates his total compensation as nearly $1.7 million. Bezos, who also own The Washington Post, is currently the richest man in the world with an estimated net worth of $182 billion, according to the Bloomberg Billionaires Index.
Jennifer Bates, an Amazon worker at the company’s warehouse in Bessemer, Ala., testified about the unionization efforts there, saying that the company had been trying aggressively to get workers to back down.
Bates said the company had been holding meetings to discourage workers from joining the union, sometimes multiple times a week. Amazon has also been texting workers and posting fliers in bathroom stalls urging workers to vote no on the effort.

Article from his Newspaper (Washington Post):
amazon-union-sanders-hearing

Anyone know what is driving the recent performance of WWNPX? It's up almost 6% today, and 63.56% YTD.
I know they had some bitcoin, and maybe some TSLA at one point, but the published holdings cannot account for a 6% gain today. I'm actually embarrassed to admit that I still own it, because with a management fee of over 1.6%, it really can't be called a good choice. I bought it years and years ago before I knew anything about picking mutual funds. For now I guess I'll be embarrassed "all the way to the bank".

Start 5 years prior to retirement...
Link to Presentation (Audio / Video):
webinar-replay/the-ultimate-pre-retirement-checklist
Presentation PDF:
The Checklist

https://www.prnewswire.com/news-releases/t-rowe-price-launches-first-impact-fund-301249406.html
T. Rowe Price Global impact Equity Fund
The fund will be aligned with the United Nations Sustainable Development Goals (UNSDGs), a globally recognized framework designed to end poverty, ensure prosperity, and protect the planet.
The fund will be managed by Hari Balkrishna. Mr. Balkrishna has 15 years of investment industry experience, including the last decade at T. Rowe Price. From 2015 until the end of last year, he was Associate Portfolio Manager of the firm's Global Growth Equity Strategy. Having lived and worked on five continents, Mr. Balkrishna has a keen understanding of the many different social systems around the world and he is personally passionate about addressing climate change.
The fund will employ an all-capitalization, high-conviction approach, typically owning between 55 and 85 securities, focused on those that Mr. Balkrishna believes will create positive environmental and social impact, along with attractive returns, over a long-term time horizon.
As with other T. Rowe Price strategies, the fund will draw upon the firm's global equity research platform, comprising 203 equity research analysts, 10 sector portfolio managers, and 73 regional and diversified portfolio managers. In addition, the fund will tap the deep expertise of the firm's Environmental, Social and Governance (ESG) experts and responsible investing research analysts as well as its proprietary Responsible Investing Indicator Model (RIIM), a database detailing how more than 15,000 securities measure up against established environmental and social parameters.
The net expense ratio for the Investor Class shares (Ticker: TGPEX) is 0.94% and the minimum initial investment is $2,500.
The net expense ratio for the I Class shares (Ticker: TGBLX) is 0.79% and the minimum initial investment is $1 million.
FUND DETAILS
The fund will be aligned with the United Nations Sustainable Development Goals (UNSDGs), a globally recognized framework designed to end poverty, ensure prosperity, and protect the planet.
The fund will be managed by Hari Balkrishna. Mr. Balkrishna has 15 years of investment industry experience, including the last decade at T. Rowe Price. From 2015 until the end of last year, he was Associate Portfolio Manager of the firm's Global Growth Equity Strategy. Having lived and worked on five continents, Mr. Balkrishna has a keen understanding of the many different social systems around the world and he is personally passionate about addressing climate change.
The fund will employ an all-capitalization, high-conviction approach, typically owning between 55 and 85 securities, focused on those that Mr. Balkrishna believes will create positive environmental and social impact, along with attractive returns, over a long-term time horizon.
As with other T. Rowe Price strategies, the fund will draw upon the firm's global equity research platform, comprising 203 equity research analysts, 10 sector portfolio managers, and 73 regional and diversified portfolio managers. In addition, the fund will tap the deep expertise of the firm's Environmental, Social and Governance (ESG) experts and responsible investing research analysts as well as its proprietary Responsible Investing Indicator Model (RIIM), a database detailing how more than 15,000 securities measure up against established environmental and social parameters.
The net expense ratio for the Investor Class shares (Ticker: TGPEX) is 0.94% and the minimum initial investment is $2,500.
The net expense ratio for the I Class shares (Ticker: TGBLX) is 0.79% and the minimum initial investment is $1 million.

This link is directed to ARKG, the bio-med, genomic related etf. The short write contains a podcast. While some may consider this is an info-mercial for ARK; education is within the discussion.
We've had interest, in particular related to CRISPR; for several years. Anyway, if you're interested; have a listen as your time allows.
Another area we've been following is Nanobot technology, and in particular the use of these within the body. There are numerous video presentations to be found for a better understanding. Nanotech, broad search link. At this link you may select the "videos" tab, too.

@davidmoran @Baseball_Fan
I try to remind myself skilled fund managers help manage upside/downside potential. A fund like COTZX attempts to gauge these two dynamics and adjusts its holdings according to maximizing the up and minimizing the down. VWINX, PRWCX do the same and continue to be long term buy and holds for me. I feel sectors like healthcare (VHT) and consumer staples (FSRPX) will rise more than fall. I judge these fund's performance over years, not days.
A bad year in the bond market is often a bad day in the equity market.
-treasuries are still a flight to safety.
-I believe highly skilled bond fund mangers can add both alpha and beta strategies and disciplines that I am not capable of.
If you have won the game...stop playing (sort of)
-As much as possible diversify your portfolio away from over valued assets. I sold Real Estate (the house I raise my kids in) this year. I downsized my footprint & my tax burden (both property and income tax). By lowering my "living expenses" without sacrificing my "quality of living" I can take less risk in my portfolio.