@Crash
If you had that Fidelity account, this would be your option for AZNAX.

I believe they will Lewis because that's the way the world is moving. Progress might be slow and measured but I think we might be shocked by the investing landscape 10 years from now compared to today. Just in energy related issues alone we'll see more alt-energy adopted, batteries, electric vehicles even if just hybrid types and the list goes on. Changes are coming, at least I hope so.

By Andrew Ross Sorkin at the NY Times. Jan. 14, 2020.
"Laurence D. Fink, the founder and chief executive of BlackRock, announced Tuesday that his firm would make investment decisions with environmental sustainability as a core goal.
BlackRock is the world’s largest asset manager with nearly $7 trillion in investments, and this move will fundamentally shift its investing policy — and could reshape how corporate America does business and put pressure on other large money managers to follow suit."
Article Here

@Gary1952,
I was addressing your inquiry about ZEOIX above. Should have stated that in my first post.

Bought a small position late last week. Paid a $20 fee at Vanguard. Also, there is a 1% fee if held less than thirty days. I don't think that that will come into play here.

What if one chose Growth?
FSIDX AND FDGRX CHART
Note: FDGRX is closed, but a good representation of the sector

Who is buying ZEOIX and where? Schwab has a $49.95 transaction fee plus a 1% redemption fee. Seems restrictive for a $1500 min. purchase amount.

• https://www.pionline.com/defined-contribution/research-shows-investing-decisions-made-based-order-options-are-listed

• https://www.planadviser.com/study-finds-alphabeticity-bias-401k-investing/
  

A white paper, “Alphabeticity Bias in 401(k) Investing,” finds that investors tend to select funds at the top of an alphabetically organized list of funds. Authored by academics at Saint Louis University, Seton Hall University and Kansas State University, as well as a researcher at the Ipsos Behavioral Science Center, the paper finds that people tend to select the first “acceptable” option.
“Thus, when a participant searches through her plan’s menu of investment options, she may be more likely to choose the funds appearing towards the beginning of the list,” the paper says. “Since 401(k) fund choices with early alphabet names appear at the beginning of the list, they will be chosen more often than later alphabet named funds. We find that the same fund appearing in multiple plans in the sample receives a significantly higher allocation when it is listed closer to the top of the plan menu.”
Paper Link at SSRN [free registration required]
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3295400

One of the things about buying good dividend paying stocks (or mutual funds) is that they have to have earnings inorder to keep paying dividends. With this, Old_Skeet has two sleeves of good dividend paying mutual funds. One consist mostly of domestic funds while to other has more of a global orientation including some exposure to emerging markets. These two sleeves combined make up 15% of Old_Skeet's overall portfolio.

@Crash,
A fund that I own that is good at manufacturing income is AZNAX. Morningstar list it's TTM yield at 1.87%; but, the fact is that it pays 7 cents per share per month for a distribution yield (including capital gains) of 7.34% based upon current nav and has its SEC yield listed at 3.08%. This might be something to look at for income seekers. I hold this fund in my hybrid income sleeve and I have owned it for a good number of years. Years back, I remember, Scott touted this fund when he was posting; but, I can't find a link to his post about it.
To view fund distributions ... From M*'s quote sheet click on the performance tab when the performance sheet loads then click on the distribution tab where the fund distributions made can be viewed.
My best to you.
Skeet

https://www.morningstar.com/articles/961786/should-you-own-a-muni-fund
Should You Own a Muni Fund?
Unless you're in one of the highest tax brackets, the tax advantages might be smaller than you think.
Amy C. Arnott, CFA
Jan 15, 2020
Investors have been pouring money into municipal-bond funds. For the trailing one-year period ended November 2019, inflows into all municipal-bond fund categories totaled about $95 billion--the highest annual inflow since 2009. Taxable-bond funds still hold far more assets overall, but municipal-bond funds have been gaining ground, with nearly $850 billion in total assets as of Nov. 30, 2019. The appeal of these funds is largely based on their tax-advantaged status. In the wake of the 2018 tax law changes, fewer people can itemize deductions, which makes investment vehicles that help reduce taxable income more compelling
Another key question is whether to invest in individual bonds or in a diversified mutual fund. If you have a brokerage account, you can generally buy individual municipal bonds in increments as low as $5,000. But while transaction costs for trading municipal bonds have declined significantly, they're still relatively high. The Municipal Securities Rulemaking Board estimates that the average spread between buy and sell prices was about 80 basis points for retail investors as of April 2018. These transaction costs would eat up much of the tax advantage of holding individual bonds unless your portfolio is large enough to buy bonds in larger increments. Even then, you'd probably need to buy at least 20 higher-quality bonds to help mitigate bond-specific risk. And because the municipal-bond market is notoriously opaque and illiquid (though less so than it used to be), you should also plan on holding any individual bonds until maturity.
We have been doing the later past 10 or 12 yrs, buying private muni and corp bonds
Could not have been happier
Just monitor the bonds carefully and looking at bond cusip/credit reports/ (see which funds/etf dump the bond) routinely to prevent any bankruptcy

https://www.cnbc.com/2020/01/13/this-was-the-best-strategy-for-picking-stocks-the-last-10-years.html
This was the best strategy for picking stocks the last 10 years
Picking stocks with high dividend yields was the best strategy for investors over the last decade, Bank of America said.
Low interest rates and steady economic growth made dividend stocks attractive, even the riskier ones with the highest yields.
The strategy would not have worked in 2019, when the S&P 500 outperformed high yielding stocks.
Wonder if this would work next 30 yrs...

Reading these docs is like reading tea leaves. They can mean whatever you want to read into them.

That is for sure - too much materials to digest easily. Your explanation makes sense for this fund with an one-year duration and yet manages to yield 3.12%.

Umm....yes I do. It's not about what you can see in the rear-view mirror (recency bias) but what is ahead from a longer term perspective. Secular bull markets in stocks last about 20 years and the current bull is only 6-7 years old (2013). Much, much higher asset prices lie ahead in the coming years driven by technology, new industries, and demographics.

You're gonna need more than 1 cup, 1 glass or 1 bottle of your chosen beverage for this read. So, plan for some time and absorb. Heck, read the article more than once.
Don't know how to tag you here, Charles; but thank you for the in depth write, and sharing. One can imagine the time involved.

ARTICLE
As always, remain curious about life,
Catch

NHMAX+ORNAX had a great run in 2019. LT bonds isn't a category I usually use because of higher volatility. My goal is to stay within lower volatility funds but still make a good return. HY Munis also have tax-advantaged over LT bond.
Lastly, if you read any reasonable book, article, advice about bonds, their recommendation is to stay with inter-term duration for a good reason.

Hmmm...yet you routinely post here and elsewhere that you make (sic) "guerrilla trades" of, you know, stocks. Aren't stocks more volatile than LT bonds?

Is the above has anything to do with the subject of this thread "Muni Bond party should continue in 2020' ?
Did I post anything about my trades in this thread?

Read, "Well, I guess you got me there."

NHMAX+ORNAX had a great run in 2019. LT bonds isn't a category I usually use because of higher volatility. My goal is to stay within lower volatility funds but still make a good return. HY Munis also have tax-advantaged over LT bond.
Lastly, if you read any reasonable book, article, advice about bonds, their recommendation is to stay with inter-term duration for a good reason.

Hmmm...yet you routinely post here and elsewhere that you make (sic) "guerrilla trades" of, you know, stocks. Aren't stocks more volatile than LT bonds?

Is the above has anything to do with the subject of this thread "Muni Bond party should continue in 2020' ?
Did I post anything about my trades in this thread?

NHMAX+ORNAX had a great run in 2019. LT bonds isn't a category I usually use because of higher volatility. My goal is to stay within lower volatility funds but still make a good return. HY Munis also have tax-advantaged over LT bond.
Lastly, if you read any reasonable book, article, advice about bonds, their recommendation is to stay with inter-term duration for a good reason.

Hmmm...yet you routinely post here and elsewhere that you make (sic) "guerrilla trades" of, you know, stocks. Aren't stocks more volatile than LT bonds?

My impression is that PIMCO generally uses derivatives to boost income as opposed to using them to mitigate risk. Likewise, it can be more aggressive with junk bonds.
Foreign exposure? PIMIX is weighted negative 30% in non-USD developed markets. It is also 14% long in emerging markets.
See excerpts below from the funds' prospectuses and fact sheets. They may be meaningful or may signify nothing. Reading these docs is like reading tea leaves. They can mean whatever you want to read into them. For your amusement to compare and contrast.
Objectives:
PIMIX: The Fund’s primary investment objective is to maximize current income.
Long-term capital appreciation is a secondary objective.
RPIEX: The fund seeks high current income.

Investment strategies:
PIMIX: The Fund seeks to achieve its investment objectives by investing under normal circumstances at least 65% of its total assets in a multi-sector portfolio of Fixed Income Instruments of varying maturities, which may be represented by forwards or derivatives...
RPIEX: The fund also uses [derivatives], primarily to manage interest rate exposure and limit the fund's overall volatility.
High yield (junk) bonds:
PIMIX: The Fund may invest up to 50% of its total assets in high yield securities rated below investment grade by [an NRSRO] or if unrated, as determined by PIMCO (except such 50% limitation shall not apply to the Fund’s investments in mortgage- and asset-backed securities). [Note that 77.6% of the fund is presently in securitized debt.]
RPIEX: The fund focuses mainly on holdings that are rated investment grade .... However, the fund may invest up to 30% in high yield bonds, also known as junk bonds, and other holdings (such as bank loans)
Fund home pages (with links to fact sheets, prospectuses, etc.)
PIMIX: https://www.pimco.com/en-us/investments/mutual-funds/income-fund/inst
RPIEX: https://www.troweprice.com/personal-investing/tools/fund-research/RPIEX

NHMAX+ORNAX had a great run in 2019. LT bonds isn't a category I usually use because of higher volatility. My goal is to stay within lower volatility funds but still make a good return. HY Munis also have tax-advantaged over LT bond.
Lastly, if you read any reasonable book, article, advice about bonds, their recommendation is to stay with inter-term duration for a good reason.