@david - tks
Here is the two part exercise I did
(1)Screened for international funds older than 5 years, Sortino > 2 and APR > 10. PRWCX Sortino and APR for past 5 years are 2.33 and 15.2 respectively
(2)Run a correlation matrix on the result set with PRWCX
The highest correlated are
WCM Focused International Growth Inst (0.87)
Brown Capital Management International Small Company Inst and WCM International Small Cap Growth Inst both tied at 0.85

I get all my 1099 forms online several days ahead of the paper copies. Also I get notified when the forms are posted. The brokerages take several more weeks and by mid-February I would have all of them. The tax statement and account statement are located in different folders.

What are the most important attitudes and habits of successful investors? In this podcast, Paul examines this question through the lens of “hard work,” or what is often called “grit.” He references a special 6-minute TED talk by Angela Lee Duckworth, a psychology professor at the University of Pennsylvania. The video is about the importance of “grit” in your life. While the hard work and the passion of grit may make people more successful in their daily life, Paul makes the case that it may lead to worse outcomes as an investor. In fact, the grit for an investor is to remain still and let your investments take care of themselves.
Since the grit is largely a matter of habits and attitude, Paul reads chapter 11 from Financial Fitness Forever. He discusses the importance of trust, resilience, perspective, patience and common sense, plus six productive habits that seem to favor investors over the long term.

paulmerriman-the-perfect-investor

I scanned for funds with high five-year correlations to PRCWX and high international exposure. I'm not arguing for or against them, but I'll note the Pax Sustainable Allocation (PAXWX, formerly Pax World) and Fidelity Advisor Multi-Asset Income (FAYZX) have correlations in the 90s with TRP and double-digit exposure to international equities. Both are lower vol / lower return (12% APR vs 15% for TRP) over the past five years but the correlation implies the possibility of some comparable thinking.
The oddball is Prospector Capital Appreciation, which was launched by TRP Cap App's long-time manager (Richard Howard, who left after 7 years) to be a more nimble version of the fund. Fairly high correlation (93) and slightly more international, but distinctly weaker performance (50% greater volatility, 50% lower Sharpe, trailing by 350 bps).
And yes, I am supposed to be writing two lectures for tomorrow's first-day-of-term classes. (sigh)

American Funds are known for having lots of managers - some not even named. (And lots of fund classes too)
But some others have many managers too. Fido Balanced has 12 named managers.
VG may have thought that its Explorer didn't have enough with only 9 named managers from 5 subadvisors. So, it adds more with 6th subadvisor.
May be someone has info on what is the record on this? Absolute or relative (per billion AUM).

Ariel’s initial target allocation will be 10% of Vanguard Explorer Value Fund, with the balance of assets divided evenly between the fund’s two other tenured value managers.

Hopefully this will improve these value funds.

Using the ICI monthly data on the assets of US mutual funds (OEFs) and ETFs, following are the cumulative fund allocations among stock, hybrid, bond and money-market funds. Hybrid funds include stocks and bonds but their ratios can vary widely. Funds-of-funds are not included to avoid double-counting. These data are not expected to change much month by month but may change notably over time. ICI data are published late in the month for the prior month. One can call these America's asset allocation.
https://www.ici.org/statistics
12/31/21
OEFs: Stocks 54.6%, Hybrids 6.9%, Bonds 20.9%, M-Mkt 17.6%
ETFs: Stocks 82.3%, Hybrids 0.6%, Bonds 17.1%, M-Mkt N/A
OEFs & ETFs: Stocks 60.4%, Hybrids 5.6%, Bonds 20.1%, M-Mkt 13.9%
LINK

David: Thanks for the information. I use the fund with VELIX in the alternative long-short category. There R is .62 but only for 15 months, VELIX being relatively new.

Has anyone an idea of what's going on at TRP? They don't respond to messages, and I'm not getting on the phone merry-go-round. Although I received my 2021 1099 in the mail last week, it's still not posted online. Even though they say I can view seven years of statements and tax forms, they don't have ANY tax forms, and the last viewable statement was 7/20. Did they have a fire or some other disaster that we're not hearing about?

Yogi summaries are valuable. I have a digital subscription to Barron’s but inevitably seem to miss articles of interest. One such example is @LewisBraham post on changes to the 401k. Content on the potential back door Roth elimination is important to me. The addition of annuities to the 401k… I wanted to see if the story would address what happens to your annuity when you pass. It covered the topic. Good content
“One of the behavioral reasons why people don’t want to select an annuity is they feel that ‘if I give you this money and I pass away in a year’s time, then I’ve lost the money,’ ” says Nick Nefouse, BlackRock’s head of Retirement Solutions. “The way we’ve structured this is your dependents will continue to receive the money to take that [anxiety] off the table.”
Your 401(k) Has Quietly Undergone Significant Changes. What to Know.
https://www.barrons.com/articles/401k-changes-three-major-additions-one-loss-51641495748

JMHO - But sounds to me like they’re hoping to chill some markets (housing & many equity sectors). But they’re not getting much response with mere words to date. Hence the talk of a .50% hike in the first meet. (I don’t think they’d dare.) Honestly, I don’t know what it would take to bring some rationality about. I doubt 1-2% in hikes could stem the mania - until after it bites deeply into the economy months later.
Powell is in a corner.
At some point psychology & momentum will turn. I guess a few of the most overpriced have already turned south. Some crypto and the ARKK stuff. (Yes ARKK may well be on the rebound - after something like a 70% fall from peak).
Full disclosure: I’m an invested bear.

Interesting question @golub1. I take from the responses that there are no International balanced funds let alone anything that looks and acts like PRWCX(?). A few good global allocation/balanced funds mentioned but no international balanced. I wonder why the fund industry hasn't pursued that segment.

Good job. Looks like it will be a smooth transition. I printed out the 21 Funds in 2021 list to look through it more closely....CBLDX has already grabbed my attention....

Is there any Portfolio Visualizer PV Public Forum anywhere?
It requires Subscriptions after a free 14 days Trial Period.
Any Subscribers & expert users here?
as I've seen many PV Links here on MFO.
Basically, I'm Interested in Investing or creating a Portfolio NTF type of Mutual Funds or ETF.
Discussing...further analysis & Using PV for Retiree Portfolio Design & Try It Out.
Optimizing techniques or Lowering Drawdown MDD% or Retiree's withdrawal % in RMD, Inflation.
Please post a link if any forum exists?
Can it be worthwhile or add Value & additional help for Technical analysis going forward in 2022?
...as we can Not buy any Past Performances...
Thanks in advance.
Majick

Fed fund futures market expectations now are +0.25% hikes in successive FOMC mtgs in March, May, June. Then skip hike in July, another hike (4th) in September, skip hike in November and another hike (5th) in December. This leads to a speculation that one of those early hikes (any of March, May, June but more likely March) could be +0.50%. Things can change - the fed fund futures can change; Powell can flip-flip (after all, he has done it several times (4?) already, and on rates in Fall 2019, well before anyone had heard of Covid-19).
https://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html

So what does Bullard want-a 100 basis point hike?

+1

+1

If an investor does a tax-free conversion of one share class of a fund into another share class, e.g. investor class to admiral class, there are no tax consequences.
But if an investor sells one fund and buys another, even if the second fund is a clone of the first, two taxable things happen:
1) If this is a taxable account, the investor may recognize gain on the sale, and
2) The old fund may have to sell assets to satisfy the redemption, and in the process generate cap gains that may be distributed to the remaining (old) fund shareholders.
That's what happened here. The employer plans were not exchanging share classes in the same fund, but were literally selling shares of one fund and buying shares in a virtually identical but separate fund.
---
The simple response to your second observation is yes, that's generally correct. The complete answer is a bit more complicated.
Any fund, whether active or passive, ETF or open ended, can alter its portfolio holdings in a couple of ways:
1. Sell the old holdings, buy new ones. This could generate cap gains if the old holdings have appreciated.
2. (a) When investors want to redeem shares, instead of handing them money, hand them back the old holdings that the fund wants to get rid of. Yes, even OEFs in theory (but rarely in practice) can do redemptions in kind (see link below). For an ETF, the bundle of holdings that the investor receives is called a "redemption basket".
https://www.dodgeandcox.com/redemption_disclosure.asp (D&C redemption baskets)
(b) When investors want to buy shares, rather than using cash the fund (ETF) requires the investor to hand over a bunch of new holdings. This bundle of holdings is called a "creation basket".
Usually the creation basket and the redemption basket are the same, but they don't have to be. This gives the funds the ability to tweak their holdings, handing off old holdings it doesn't want and taking in new holdings that it does want.
I doubt this is how a passive ETF would deal with a full index reconstitution, but I could envision it being used to replace a single security. So just because an ETF wants/needs to change its portfolio, it doesn't have to recognize gain on the old holding(s).
(From iShare IG Corp Bond ETF LQD's prospectus: "Creation and redemption baskets may differ ...")

Fed’s Bullard Doesn’t think a half point rate increase “really helps us” …
Interviewed February 1
(Excerpt) St. Louis Federal Reserve President James Bullard on Tuesday said he favors lifting rates at the U.S. central bank's meeting in March and likely again in May, but he pushed back against the idea of kicking off the coming tightening cycle with a half-percentage point hike. "I don't think a 50-basis point hike really helps us right now," Bullard said in an interview with Reuters … </i1
https://www.reuters.com/business/feds-bullard-does-not-think-half-point-rate-hike-really-helps-us-reuters-2022-02-01/