@Old_Skeet: Closing prices as of 8/26/15 from Lipper.
Regards,
Ted
IACLX:
http://www.marketwatch.com/investing/Fund/IACLX?countrycode=US
IGPAX:
http://www.marketwatch.com/investing/Fund/IGPAX?countrycode=US

The expense ratio at 1.18% is a drag on the 2.85% 30 day yield. Also it holds 25% in cash. In this low yield environment, there are really few viable choices.

I've always said RPHYX is not a good cash substitute primarily because it has never been tested during a bear market in junk bonds. ... Still, YTD it is outperforming cash and has done well as a cash substitute since its inception.

It's done adequately, but I wouldn't say it's done better than cash. It's not hard to find an online account paying around 1%. In comparison, 0.46% YTD is around 3/4% annualized (we're 2/3 through the year).
It's even worse in a taxable account. So far this year RPHYX has spun off around 2% in dividends, and declined about 1.5%, for a net of about 0.5%. But you pay a higher rate of taxes on the dividends (ordinary income) than you get to write off on the capital loss (assuming you've held the shares for over a year).
If you've got $1000 in the fund, and a 25% tax rate, you'll owe taxes YTD of 25% on $20 dividends ($5), but might subtract taxes of 15% of the $15 cap loss ($2.25) if you sell. Your net tax would be $2.75 on net income of $5. Your after tax income YTD would be about 0.22%.
If it loses a bit more, so that it pays 2% in dividends but loses that 2% in value, then your gross income would be $0, but you would still owe net taxes of 0.20%. Not pretty.

You have to be 007 to find that application. Imagine if you really need to ask a question about the fund. Note that there is a 1% short term redemption fee for holding ZEOIX less than 30 days.
I like FFRSX better than ZEOIX for my cash.

Top secret online account application, etc for Zeo...I just opened my account yesterday..
http://www.geminifund.com/NewAccountsWizard/Pages/NewAccountsWizard.aspx?fundFamilyId=172

Could be the computer glitch:
http://finance.yahoo.com/news/bny-mellon-says-fund-pricing-185437516.html

COREX opened in 2014, has $260,000 in assets and 84% in cash. Something tells me this fund is being run in someone's backyard and is hardly a "Core investment" fund.
http://www.avondalecore.com/

Just think VintageFreak, we could each open and manage our own mutual fund and legally deduct all the management expenses. (like trips to Vegas investment shows)

So - and one shouldn't be too dogmatic about this - based on current portfolio, and keeping it simple....

37% VEIPX @ 29bps  Equity Income Fund  [Also VEIRX]
50% VFIDX @ 10bps  Intermed Term Investment Grade Fund [Also VFICX]
13% VBTLX @  7bps  Total Bond Market Fund [Also VBMFX]
=   BLEND @ 17bps 

Would - more or less - appear to resemble VWINX with respect to rating and issuer, based on M* and VG info sources, using a mix of Vanguard Investor and Admiral class funds.
Finally, the expense ratio is just 1 bp below that of the Wellesley Admiral share class.
NOTE:

Above Investor and Admiral share class choices reflect dollar amounts that I anticipate for specific situation. Your mileage, as they say, could vary.
Also, "rebalance monitoring" - roughly - should be relatively easy. Whenever the VFIDX/VFICX varies significantly from 50%, time to do it.

Comments/thoughts? Thanks.

COREX opened in 2014, has $260,000 in assets and 84% in cash. Something tells me this fund is being run in someone's backyard and is hardly a "Core investment" fund.
http://www.avondalecore.com/

Thanks MJG. There is a saying sitting next to my computer that reads "In Prosperity Be Prudent. In Adversity Be Patient." That's a similar message. It would be interesting to see the chart and graph extended to take in 100 years so the 1929 and 1937 declines could be included. That would provide a more complete picture of the kind of patience that doing nothing occasionally requires! And, its not clear to me central bankers will be able to keep that kind more extended decline from a prior peak from happening again.

@MJG: I seldom, if ever link anything from the Fool.Com. I find the Gardner boys nothing more than fools !
Regards,
Ted
https://www.google.com/search?q=tom+gardner+motley+fool&biw=1280&bih=585&tbm=isch&imgil=LmzzvQIxIgb85M%3A%3B1BwhOrTajLfMSM%3Bhttp%253A%252F%252Fwww.consciouscapitalism.org%252Fcc2013%252Fspeakers%252F498%252Fitem%252F523&source=iu&pf=m&fir=LmzzvQIxIgb85M%3A%2C1BwhOrTajLfMSM%2C_&usg=___pxvJSLqoxq4m-uXQ8msFYVZJm4=#imgrc=_&usg=___pxvJSLqoxq4m-uXQ8msFYVZJm4=

Hi Guys,
Morgan Housel has just released an article titled “What Happens Next?”
Nobody has the definitive answer to that question, but Housel does a terrific job at examining the statistics from several perspectives.
If Ted already posted this Link, I apologize. Regardless, it is so informative that it is worthwhile repeating for emphasis. Here is the Link:
http://www.fool.com/investing/general/2015/08/24/what-happens-next.aspx?source=iaasitlnk0000003
One main takeaway is that patience and a cool head are well rewarded historically. We always rebound well. Enjoy!
Best Regards.

FYI:
Regards,
Ted
WSJ Slant:
http://www.wsj.com/articles/signs-of-stability-in-global-markets-despite-chinese-stocks-tumbling-again-1440488999
Bloomberg Slant:
http://www.bloomberg.com/news/articles/2015-08-25/u-s-stock-index-futures-slide-after-s-p-500-rebound-evaporates
Reuters Slant:
http://www.reuters.com/article/2015/08/26/us-markets-stocks-usa-idUSKCN0QV12320150826
MarketWatch Slant:
http://www.marketwatch.com/story/us-stocks-on-track-to-rise-as-china-tries-fresh-stimulus-2015-08-26/print
WSJ Markets At A Glance:
http://markets.wsj.com/us
Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-tracker
Current Futures: (Very Positive)
http://finviz.com/futures.ashx

As I try to avoid thinking about my 2:30 class, here are the one month returns for liquid alts and the alts to liquid alts.
Ultra-short term bond funds (0.08%)
Best: Oppenheimer Ultra-Short (OSDIX), up 0.15%
Worst: PIMCO Short Term (PSHDX) (0.41%)
Short-term bond funds (0.16%)
Best: US Global Investors Ultra-Short Term Gov't Bond (UGSDX), up 0.54%
Worst: Kinetics Alternative Income (KWINX) (4.42%)
Managed futures (0.50%)
Best: LoCorr Long/Short Commodity Strategy (LCSAX), up 6.57%
Worst: Catalyst Time Value Trading (TVTAX) (14.77%)
Market neutral funds (0.90%)
Best: Hussman Strategic Growth (HSGFX), up 8.0%
Worst: PSI All Asset (FXMAX) (11.67%)
Retirement Income (3.15%)
Best: Wells Fargo DJ Target Today (STWRX) (0.94%)
Worst: Deutsche LifeCompass Retirement (SUCAX) (5.05%)
Conservative allocation (3.57%)
Best: a handful of weird special use funds
Worst: Federated Managed Volatility (FVOAX) (8.30%)
Long/short equity (4.82%)
Best: Otter Creek L/S (OTCRX), up 2.4% with BPLEX close behind
Worst: Giralda (GDAMX) (12.96%)
Moderate allocation (6.12%)
Best: Avondale Core (COREX) (1.10%)
Worst: HCM Tactical Growth (HCMGX) (14.67%)
David

Lumping the alts together like these articles do is not the best journalism either. In any case alt funds are good as a diversifier for a portfolio at around 6-12%.
I would not expect a long short fund to outperform this past week but multi asset income and some other have done relatively very well.

To note from the write:
"The long-term bond fund category declined by 14 basis points on Monday, while the Barclays U.S. Aggregate Bond Index declined by 3.03%."
Uh, I think not on the "declined by 3.03%, for apparently AGG".
Well, just an observation; as I am still seeking perfection, too.

FYI: It's been a long time coming, but alternative-strategy mutual funds are finally getting their day in the sun as the dark clouds gather over the traditional investment strategies
Regards,
Ted
http://www.investmentnews.com/article/20150825/FREE/150829950?template=printart

http://www.marketwatch.com/story/a-dow-theory-sell-signal-is-upon-us-2015-08-20?link=MW_popular
http://thedowtheory.com/resources/traditional-dow-theory/complete-dow-theory-record/
Record is OK, beats buy and hold. Sell signals only occur every few years. I wonder if any asset allocation funds use this or death cross signal to move from low to high stock allocation.

I've always said RPHYX is not a good cash substitute primarily because it has never been tested during a bear market in junk bonds. I don't care what the fund manger may say, this fund will get hurt in a junk bear market and we have seen how it has over the past month where it has lost almost 1%. Much better than the average junk bond fund but not exactly what many investors have been lead to believe. Still, YTD it is outperforming cash and has done well as a cash substitute since its inception. However, a continued decline in junk bonds will turn this fund negative for the year. So goes energy, so goes junk bonds the rest of the year.

Goldberg didn't say what he meant by getting excited:
Here's what happened to the four outstanding Grandeur Peak funds yesterday (8/24/15):
GPRO 11.81 -0.57 (-4.60%) -
GPGOX 3.01 -0.14 (-4.44%) -
GPIOX 2.93 -0.14 (-4.56%) -
GPEOX 9.19 -0.53 (-5.45%)
Are you excited enough yet??

GP is not an absolute return manager. These funds held up just fine on a crazy day for global equity markets. Also.... one day of performance is really how you're going to evaluate a manager?