Couple other things about this etf/the fund company in general:
1)I think this was the first fund/etf to own bitcoin. I think they began buying in 2015. The bitcoin helped it to return better than 80% last year. Bitcoin however is less than 1% of the fund currently. It made it to close to 10% various times last year.
2)It is not simply a tech fund but instead a tech/biotech etf. The biotech is the reason why its performance in 2015 and 2016 was not so hot. Biotech crashed in 2015 and didnt really come back fully until end of 2016 beginning of 2017.
3) The .75% ER is around average for actively managed etfs.
4)It is definitely not the place to be if a large market correction is in the offing.

Unfortunately, every approach has its own risk and costs. It's a matter of deciding what one is comfortable with, both rationally and irrationally. By rational, I mean that if one has a certain preference for some risks over others, one selects an approach that is a good match. For example, if one is willing to risk leaving less or nothing to heirs in exchange for greater certainty of outcome, one may choose a more conservative, lower yielding but less volatile portfolio.
By irrational, I mean choosing what seems to make sense intuitively, even if research shows the opposite. Somewhere I read a paper (no prayer of finding it now) showing that a traditional balanced fund (don't recall if it was Wellington, Wellseley, or something else) gave better survival odds than other approaches. Somehow that doesn't feel right, so I might take a different approach for that reason.
Really wish I could remember what it was I'd read. This would address some concerns about sequence of return risk.
Here's an alternate paper (AAII); a bit sparse, but good for getting another flavor of non-intuitive results. My intuition says that a bucket approach, or at least keeping cash/bonds/stock in different funds should work better than using a hybrid fund (whether balanced, asset allocation, or target date). That's because when the market is down you can draw on your cash cushion (bucket 1). You wait out the bear. But the AAII paper says that a target date fund outperforms various bucket strategies in terms of survival odds.
Comparing a Bucket Strategy and a Systematic Withdrawal Strategy
http://www.aaii.com/journal/article/comparing-a-bucket-strategy-and-a-systematic-withdrawal-strategy

At the end of the write, the author notes:
"Overall, U.S.-listed bond funds have had inflows of $28.9 billion in 2018 thus far, while $48.6 billion has gone into equity funds."
And both groups are scratching their heads wondering, "Where should I really be placing my cash, right now???"

@msf, even a well diversified allocation fund (in this case a retirement fund) IMHO still poses risks. My thinking (not @MikeM) is to understand the risks that haven't been properly diversified away or hedged very well by the fund's construction.
For example, many retirement date funds do a poor job of diversifying away equity draw down risk during severe market pull backs. Many other allocation funds are guilty of this as well, including retirement funds. To mitigate this risk, additional non-correlated assets...commodities (including gold), RE, and specific bonds...act as an equity hedge during these serve draw down periods (flight to safety).
Also, sequence of return risk (withdrawing from a single retirement fund) might be another reason to own a "near cash" / "low volatility" fund to serve as "a place to withdraw from", especially when the equity market under performs for extended periods of time.
Further thoughts:
PRPFX was the poster child as an "all weather fund" for a very long time until (commodities & PM) tanked. I'm wondering if it might not be a bad entry point into PRPFX if one believes commodities have bottomed.
Anyway, using Portfolio Visualizer, I combined BTTRX, PRPFX and TRRCX (portfolio three) as an example of adding 2 funds to help smooth out TRRCX. I have to admit that over the long term TRRCX rebounded nicely all by itself (portfolio 2).
Chart:

FYI: A swift rise in bond yields in 2018 has sent fixed-income investors scrambling, with major categories of bond exchange-traded funds seeing steep outflows, while other groups have found favor.
Regards,
Ted
https://www.marketwatch.com/story/investors-are-retreating-from-these-bond-etfs-as-yields-rise-2018-04-25/print

"So tell us something "special" about BIVRX."
What caught my eye was the +6.8% return in 4Q 2017, followed by YTD +3.45 return.
Not too many funds are up much YTD with all this market volatility. Does that make it a good fund? No way.
Its just something "alternative" to watch. Most of the L/S funds tend to flare out.
P.S. Another alt fund I've been stalking is "Absolute Convertible Arbitrage Fund" (ARBIX). Its very tame and has been pretty steady. But similar to BIVRX, its new and unproven.

Quick glance: mostly mid to microcaps; range of 20-80% long (20% now); a small (< 10%) stake in international; the principal, per the fact sheet, is a Boston Partners alum, though he was a fund co-manager for only a little longer than two years (according to the M* mini-vita on the mangement page).
Would want to read up as to why he'd extend the range of coverage to international if he's going to put just a relatively insignificant amount there.
One appealing feature could be the market cap range the fund appears to play in. A detractor might be the apparently somewhat limited experience of the team they chose to highlight on the M* management page ... and that E.R., unless they can do well for investors despite it.

FYI: After Facebook’s data scandal in March, many Americans are taking a more critical eye toward their technology overlords. But not all tech companies are perceived equally. Amazon, for example, consistently enjoys the public’s good graces.
Regards,
Ted
https://www.recode.net/2018/4/22/17261132/amazon-positive-impact-society-tech-company-survey

@MikeM,

I think holding a target date fund, which holds the equity/bond mix that suites you, as your core and largest holding and then supplementing it with a few other funds is a great strategy.

For the vast majority of investors: A retirement date fund (until age 65)...done.
At 65, these retirement income funds (Fidelity calls theirs "Simplicity RMD") seem like a viable choice.
Additional considerations:
I would consider a Long Term US Treasury investment and a "Near Cash" investment which would serve to:
1) LT Treausuries do a good job of Hedging against periodic downside equity market (Equity risk...flight to safety)
2) "Near Cash" + LT Treasuries helps mitigate sequence of return risk (selling equities in a down market).
3) "Near Cash" helps manage emergencies (unplanned) or one time expenses (house down payment, weddings, medical expenses, etc.) which can be planned or unplanned.

Traditional target date funds are designed to be held as one's only investment. The idea is that you're leaving the asset allocation to someone else. If you're throwing other stuff into the mix, then you're messing with that allocation. If that's what you want to do, then why use a target date fund?

Because these retirement date funds are the perfect core 1-fund holding. More so than a balanced fund. More so than all those allocation funds that are talked about here, in my opinion. I think holding a target date fund, which holds the equity/bond mix that suites you, as your core and largest holding and then supplementing it with a few other funds is a great strategy.

Why should or does ones RMD withdrawal rate increase as they get older?

@Mark, my understanding is that RMD rates increase as a retiree ages because the government needs to capture the "tax" from your "tax deferred" investments.
Retirees with large tax deferred balances may see their taxable income (including RMDs) potentially shift them into higher tax brackets as a result of RMDs. This may, in turn, cause up to 85% of SSI to become taxable...even an increase to Medicare premiums may be impacted by higher taxable income.
You don't have to spend the distribution, but you do have to pay the taxes on the distribution.
At 70.5 you are required to withdraw 3.65% of your total tax deferred balance. At age 105 the withdrawal rate is 22.22%.
RMD Chart:

Also,
I'm pretty sure this will be a tax bonanza for the government as baby boomers pay taxes on their RMDs and help fund many underfunded government obligations.
American's (age 70+) held over $500B in tax deferred accounts or about 22% of all tax deferred balances ($2.46 T) as of 2013 so imagine this even higher today.
Article:Here's How Much the Average American Has in an IRA, Sorted by Age:
https://fool.com/retirement/2016/06/27/heres-how-much-the-average-american-has-in-an-ira.aspx

@msf, through your link here I thought I'd post the funds glidepath for a retiree:

Are we comparing AO funds - apples and oranges? If we're going to compare funds of index funds, let's do that.

		iShare Core Alloc	Fidelity Freedom® Index
Fund of Funds		Yes			Yes
No. of Funds in family	4			13
Structure		ETF			Open end
Underlying funds	7			4-5 (plus MMF)
2 levels of mgmt fees	Yes			No
Net ER			0.25% 			0.15%
Glide path		No			Yes
Foreign bonds (hedged)	Yes			No
Commodities		No			Yes
Inflat. Prot. Bonds	No			Yes (2035 and earlier targets)

Hey, good morning @Ted
I suspect Professor @David_Snowball still considers this forum a learning and educational site.
An obsession with charts for me? No. Just a part of an investing tool box. Today, charting is so much easier to perform and share. I used to do similar charting to my posted electronic link on graph paper. A very slow method, but a nice teaching tool in the way back days before our magical electronic boxes.
As to charts as part of the investing tool box; to me, this is not unlike a group of skill sets needed to build a simple wooden box, briefly noted below.
*** assuming all needed tools are available and that one knows how to use the tools to some degree
1. type of wood, for strength or appearance or both
2. based upon #1, a protective clear coat or enamel for ease of cleaning
3. measure dimensions properly
4. cut/saw measured dimensions accurately
5. determine required connective method(s), i.e. nail, screw, glue
5a. drill pilot holes so that a nail or screw will not split the wood
6. assemble
7. sand the view-able surfaces, before or after assembly
8. apply finish product to the box surface as desired
9. ENJOY the end result
All too soon, beyond our desire, my friend; you and I are going to tip over in our chairs and never write another word here.
You still have a wonderful opportunity to share your investment knowledge here with self authored, original writes about what you have learned over your investing years. I can imagine a series of periodic writes based upon your acquired investing skills. Surely, you would find an appropriate title for such a series.
If only one person finds the charting write of value, I'm satisfied with the effort.
Gift us Ted, with your knowledge.
Have a pleasant remainder.
Catch

FYI: U.S. stock index futures slipped ahead of Wednesday's open, as markets reacted to the U.S. 10-year Treasury yield cracking the 3 percent mark.
Regards,
Ted
U.S. : (MarketWatch)
https://www.marketwatch.com/story/stock-selloff-set-to-continue-as-10-year-yield-blows-further-past-3-2018-04-25/print
U.S.: (IBD)
https://www.investors.com/market-trend/stock-market-today/stock-futures-texas-instruments-earnings-chip-stocks/
U.S.: (CNBC)
https://www.cnbc.com/2018/04/25/us-stock-futures-dow-earnings-tech-and-politics-on-the-agenda.html
Asia-Europe-U.S.: (Bloomberg)
https://www.bloomberg.com/news/articles/2018-04-24/asia-stocks-set-to-fall-as-treasury-yield-hits-3-markets-wrap
U.K.: (Marketwatch)
https://www.marketwatch.com/story/ftse-100-drops-after-rising-bond-yields-spur-selloff-on-wall-street-2018-04-25/print
Europe: (MarketWatch)
https://www.marketwatch.com/story/dax-drops-15-after-lift-in-bond-yields-spooks-wall-street-2018-04-25/print
Europe: (Reuters)
https://www.reuters.com/article/us-europe-stocks/kering-credit-suisse-earnings-fail-to-boost-european-shares-idUSKBN1HW0QK
Europe: (CNBC)
https://www.cnbc.com/2018/04/25/european-markets-eye-rising-yields-earnings-and-politics.html
Asia: (MarketWatch)
https://www.marketwatch.com/story/asian-markets-down-but-improve-from-early-lows-2018-04-24/print
Asia: (Reuters)
https://www.reuters.com/article/japan-stocks-close/nikkei-falls-takeda-dives-on-shire-bid-construction-machinery-makers-underperform-idUSL3N1S22KM
Asia: (CNBC)
https://www.cnbc.com/2018/04/24/asia-markets-dollar-moves-and-oil-prices-in-focus.html
Asia: (AP
http://hosted.ap.org/dynamic/stories/F/FINANCIAL_MARKETS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT
Bonds: (CNBC)
https://www.cnbc.com/2018/04/25/us-treasury-yields-in-focus.html
Currencies: (Reuters)
https://www.cnbc.com/2018/04/24/forex-market-dollar-moves-and-bond-yields-in-focus.html
Oil: (CNBC)
https://www.cnbc.com/2018/04/24/oil-supply-and-demand-in-focus.html
Gold: (CNBC)
lhttps://www.cnbc.com/2018/04/24/gold-stocks-and-dollar-moves-in-focus.html
Current Futures: Negative
https://finviz.com/futures.ashx
Quote
Leav

.....And Tuesday (today, 24th April) was another poopy day. My PREMX was flat. PRSNX down a penny. PTIAX down .04%. And IOFIX? UP by .16%. What's inside that damn burrito, anyway???? :)

Not for one's entire portfolio, but for all of one's traditional IRAs (i.e. the part subject to the Table III RMDs).
Traditional target date funds are designed to be held as one's only investment. The idea is that you're leaving the asset allocation to someone else. If you're throwing other stuff into the mix, then you're messing with that allocation. If that's what you want to do, then why use a target date fund?
In contrast, an RMD fund can be mixed in with other funds and still be made to work.
For simplicity, say you've got two traditional IRAs. You use an RMD fund for 100% of one IRA, and take the RMD amount for that IRA out of the RMD fund. You do whatever you want with the other IRA, and take the RMD amount for that second IRA strictly out of that second IRA. This still works, since each IRA is completely separate.
Note that I'm not particularly fond of target date funds, and I view these rebranded RMD funds as a marketing gimmick. Regardless, one can use these as designed for just a part of one's IRA portfolio.

This charting is not against any given benchmark; only a performance chart for a particular asset versus its 50, 100 and 200 moving price average. A somewhat pure view of performance of monies you may have invested.
If you're curious about a holding for the past 1 year period (this chart set to 1 year, but may be changed) to date, add your tickers/symbols. The chart is also set for "daily", this may be switched to weekly price, which will slightly alter the appearance of the graph. Save the link for a future visit, as desired.
This chart is set for VWINX. You will see the ticker at the upper left area. "Inspect" box (just above chart middle) is also selected. This allows the cursor to be placed on the graph for a particular date listing pricing information. You may "deselect" inspect. Additionally, just below the ticker symbol at the upper left area is "RSI 14". This is the relative strength index setting for a 14 day period. In theory, an above 70 reading is nearing an overbought, while a 30 or below is an oversold indication.
To change to another ticker/symbol merely type the letters to replace VWINX in the box. Click "UPDATE" just to the right or the keyboard enter key.
NOTE: The price line includes splits, dividends and other distributions; per Stockcharts information.
http://schrts.co/nr9enV
As to VWINX in particular, in this chart, one is able to discover the effect of early stage rising interest rates and a slap down of equities during the end period of January into February. Also, that the 50 day moving average line moving below the 100 and "looking" at the 200 day moving average price. Pretty smelly looking chart. Most bond charts right now have this appearance, as well as some equity trending in the same directions. Hoping I didn't miss something.
Well, anyway; be curious and enjoy.
Take care,
Catch

Also, @msf, I wonder if any investors would place their entire portfolio into a single fund, even one as diversified as these Simplicity RMD Fund offerings?
(FIRWX is a fund of "26" funds)?

I wouldn't read too much into their history. Per the prospectus:

Prior to June 1, 2017, the fund[s] operated under certain different investment policies and a different pricing structure. The fund's historical performance prior to June 1, 2017 may not represent its current investment policies and does not reflect the fund's current pricing structure.