Let's see if this works. This is QuickSearch Data.
file:///home/chronos/u-dc215f778f4a60cae7414063930d1217c0a14070/MyFiles/Downloads/RiskProfile%20%E2%80%93%20MFO%20Premium.mhtml

Jon, MRLOX compares decently with the Vanguard Balanced Index on several risk and performance measures. It is not a pure equity fund so comparing it to the SP500 performance will lag due the bonds AND the foreign sleeve. The MFO Premium site's quick search shows details some of which you have likely seen. It's free for individual funds in the QuickSearch Function at the top. One thing I though of ....my wife's 403b(teacher) started out in a higher share category and then over time converted to the A shares with the lowest annual expense ratio. Your friend's shares are in a R-retirement share so I don't know if that is fixed for life or decreases over time to become A shares(over 5-7yrs this what happened to the B shares she had). HR folk have no idea about many of the expenses etc and with a little pushing folks have gotten better deals from 401k/403b plans. I wasn't able to screen shot a little data but give it try.

Tell me where you see that, David?
Asset Allocation
–100%–50050100
Asset Class Net Short Long Cat. Index
U.S. Equity 64.65 0.27 64.92 47.07 34.65
Non-U.S. Equity 2.37 0.00 2.37 12.22 25.85
Fixed Income 19.30 0.00 19.30 36.49 38.26
Other -0.88 0.88 0.00 1.99 1.04
Cash 12.36 0.00 12.36 5.92 0.00
Not Classified 2.20 0.00 2.20 0.85 0.20
Fund as of Dec 31, 2020 | Category: Allocation--50% to 70% Equity as of Dec 31, 2020 | Index: Morningstar Mod Tgt Risk TR USD as of Jan 31, 2021 | Source: Holdings-based calculations.
....Well, that came out looking like a complete snafu. Screenshots need to be made simpler for those like me.
*********************************
blob:moz-extension://bc5f8622-b739-744f-92c7-a121e7d65862/15f8c62b-6b42-8c47-9a10-c08c4e6cc059

dummies' version, sort of
https://scontent-bos3-1.xx.fbcdn.net/v/t1.0-9/140615321_10159082209972790_8672449891716880736_n.jpg?_nc_cat=108&ccb=2&_nc_sid=730e14&_nc_ohc=p9XADj1f6-gAX9SLXnP&_nc_ht=scontent-bos3-1.xx&oh=cde4faab96726c4cd3124e043970dcf4&oe=604420C8
(Krug NYT on WWII debt)
'... [we] just issued new debt as the old debt came due. But because of inflation and growth, debt as a share of GDP declined steadily, so that by the '60s the war debt was negligible in economic terms ...."

Someone in one of the discussion threads asked about this so I'm posting this SA article for informational purposes only.
Special Purpose Acquisition Companies - What are they? How are they created? What does the capital structure look like? What are warrants? Watch this before you invest in SPACs.
ARTICLE

PRSNX, PTIAX, RPSIX. Age 66. I suppose I'm using it all as ballast, since I'm still re-investing all profit. Medium risk tolerance (?) Investing mostly for heirs. If it can be called a strategy in the portfolio overall: I take a small chunk (approx 2.2% of total) from the balance each year, assuming the Market is not falling. Unless in the middle of a correction or a bear, it's a pretty safe bet that I'll make up that amount, and maybe even more, by the end of each year... I was late to the party with PTIAX: per-share monthly divs HAD been in double digits. No more. RPSIX is a fund full of TRP bond funds. It will always be "fair to middling," at best. That one and PRSNX offer respectable monthlies--- normally 3 cents plus a fraction. (Not so, in January, 2021.) I have no use for arbitrage or long/short or leveraged or short-term anything. I like to spend time babysitting and observing my portfolio. I don't want to have to always be bird-dogging it at every moment.

And the 401(K) accounts crash if Biden is elected. None of it beared fruit that amounted to scare tactics.

Thanks very much for sharing this @Mark. I appreciate it. Yes he's over at Hennessy and has been for a number of years. Looks like his funds have done well. The only negative is that the expense ratio is 1.83%. Ouch!

PRWCX is one of the best risk/reward moderate allocation funds in the last 5-10-20 years.
VWIAX is one of the best risk/reward conservative allocation funds in the last 5-10-20 years.
PIMIX is one of the best Multi sector bond funds 2008-2018.
So, when they tell you can't get FREE LUNCH, I have eaten free lunch for over 20 years.
Defining free lunch:
when you get better performance at similar SD.
when you get similar performance at lower SD.
And the best is...when you get better performance at lower SD.
Example for the third choice...PV(link) PRWCX vs SPY since 2000. Sharpe+Sortino are also good indicators.

@sma3 Great comments. ALWAYS interested in comments of LT holders of funds. TSLA and/or one huge holding is NOT an issue with BGFAX per its 12/31/20 holdings. The only item of note to me with it is its heavily overweighted technology allocation at ~41%. Did start slow on it. Expect that my current allocation is ~50% of what it ultimately will be by EOY.

I have been a Baron's shareholder for years, although I never went to his shareholder events every year where some Mega star shows up. Having said that I got nervous when his kids started showing up as fund mangers, and left five or ten years ago.
I did leave a chunk of my Daughter's IRA in BPRTX, although it is leveraged 30% and has had huge drawdowns (47% tin 2020 and 60% in 2009)
Having said that we just sold half because TSLA is 47% of the fund. Baron may have sold some TSLA, but so far this year BPRTX's return is 50% of TSLA; you would expect more if it is leveraged
I think his investment philosophy is sound, but letting a mutual fund to become nearly a one stock vehicle is too risky. We have all seen what happened with Sequoia and Fairholm when that happened.
I would start small and wait for a significant pullback, and only use money you won't need in 10 years.

+1.

BIOTECH.
I post this relative for those who may hold a single stock or an etf with a limited number of holdings who discover price changes that may be abnormal.
A long time and remaining investor in health/medical devices, biotech and related technology. Keep in mind, that many areas of health related have had decent performance since and from COVID impacts.
Anyhoo..........just a few items that may be of interest.
Reddit, Biotech, broad search

BioTech ETF list, U.S. traded
The below chart/graphic is active/real time; but click the other time period choices just above the chart for returns reference for other time periods. You will discover the large change that has already taken place for this stock.
NVAX chart, Google Finance
Take care,
Catch

Apparently not really @LewisBraham. Here's how it works.
Reddit Saved AMC Theaters

US is falling behind when it comes to Innovation:

south-korea-leads-world-in-innovation-u-s-drops-out-of-top-10

Comparison with VFINX since 1987...mission accomplished...

As he said the fund is aimed to deliver good return (S&P500 like) with a lower risk over a market cycle.

Comparison to the S&P 500

New York-based hedge fund Senvest Management started investing in GameStop before it caught fire with much of the r/WallStreetBets crowd, and by October 2020, it owned more than 5% of the company.....after GameStop stock peaked at more than $400, the hedge fund walked away with a $700 million profit...."Given what was going on, it was hard to imagine it getting crazier," Senvest CEO and fund manager Robert Mashaal told The Journal.

Link: A hedge fund made $700 million

@msf @mark @catch22 - you’ve already helped by your responses. Thank you! I believe he has it in a 401 vs ira and you’re right... if so ... its limited choices on mechanics etc. The info on MRLOX is appreciated as I am unfamiliar with that fund. Really helpful and thanks msf for including the extra considerations.

"...For the most part, however, Republican economic policy since 1980 has revolved around a single policy: large tax cuts, tilted heavily toward the affluent..."

I agree with msf. MALOX has a longer decent past performance but started to fall apart beginning in 2014, vs the SP500. I don't know, but have to suspect more faith was placed into or kept in place outside of the U.S. This has not worked so well during the time frame.
Are you able to provide all of the 401k choices available to him and place the tickers here, AND what organization (Fidelity, etc.) is the vendor for the 401k?
Not much can be offered for comment without knowing other choices.