Invesco website says 5.44% comes from underlying funds - holdings look a mix of funds and individual MLPs. Why would there be funds within anything called "Select".
https://www.invesco.com/us/financial-products/mutual-funds/product-detail?audienceType=Investor&fundId=32052

Because they can? *shrug* Heck, there's also a 5.50 front-end load and .25 12(b)-1 fee as well, just in case you really wanted to twist the knife into your gut. Run fast, run far.
In such cases, I'd definitely use an ETF .. there are several. Just check to make sure it's not levered, if you are trying to be conservative in your income holdings.

FYI - The book summary and photo image for this thread are no longer based on Amazon and do not link to Amazon.
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Anyone know why the expense ratio is so high on Invesco SteelPath MLP Select 40 A (MLPFX)? I owned the fund to get K-1-free access to MLP's inside of an IRA. However, 6.57% seems insane! What's up with that? Also, for those of you who like MLP's and want exposure within an IRA (without getting hit with K-1's), what do you use? I will probably switch to an ETF.

AAII Sentiment Survey, 5/15/24
BULLISH remained the top sentiment (40.9%, above average) & bearish remained the bottom sentiment (23.3%, below average); neutral remained the middle sentiment (35.9%, above average); Bull-Bear Spread was +17.6% (above average). Investor concerns: Elections, budget, inflation, economy, the Fed, dollar, Russia-Ukraine (116+ weeks), Israel-Hamas (31+ weeks), geopolitical. For the Survey week (Th-Wed), stocks up, bonds up, oil down, gold up, dollar down. CPI +3.4%, PPI +2.2% (wholesale). DJIA futures 40,000+. #AAII #Sentiment #Markets
https://ybbpersonalfinance.proboards.com/post/1472/thread

Just bought a 2013 Odyssey with cash. Won't be paying much more for insurance than we've been paying on the 2002. With any luck, it will be our last van.
Wouldn't be buying umbrella insurance if we had spent the last 45 years buying cars on credit.
Great post by @catch22 immediately above this post. I wasn't driving in the 60's. but we ended up driving several cars from that era.

@Crash You noted:

Remember when dents could be hammered out and sanded smooth again? Check out the solidity of a 1958 DeSoto vs. a compact 2023 Suzuki sedan.

Note: dents can still be 'worked' out, just adjust for inflation.
Generally, we're talking more than fender dents, eh?
I was auto driving in 1963, in no seat belt cars. No 'new' safety glass in windshields, etc.
When I bought my first new car in 1966, some advertising mentioned the 'new' safety glass windshields, being: 'Beginning in 1966 cars came equipped with improved laminated windshields that could withstand nearly three times the impact of earlier versions. In the 60s and 70s Federal Motor Vehicle Safety standards were set for the strength and clarity of laminated windshields (FMVSS 205); windshield retention strength during accidents (FMVSS 212); roof rigidity in rollover accidents (FMVSS 216); and limits on windshield penetration (FMVSS 219). 'The car also had 'lap' seat belts.
My graduating class lost several classmates from auto accidents. They likely would have survived had they been driving a vehicle built in the last 10 years.
Three weeks ago, 5 local high school kids were returning from a morning STEM class and the driver lost control of an Equinox. The SUV crossed the two lane road center line, dove into the ditch and then rolled about 6 times. Only one passenger had a broken leg, with the others having bangs and bruises. The photo of the SUV looked really nasty.
An add:
Auto Crumple Zones, a brief article. These zones are intended to protect the passenger compartment and the folks within.
Anyway, things aren't always simple, eh?; without knowing more. You've watched the 'crash tests?

Car insurance from Yahoo Finance. Dated 15 May, '24:
I had an ins. agent back East who went the extra mile. A true saint, a stand-up mensch.
I know of no others like him. Have not heard of any others like him. Here's an article written as an apologia, rationalizing and making excuses for the price-gouging that's going on.
https://finance.yahoo.com/news/car-insurance-costs-are-surging--but-its-not-because-of-price-gouging-195212537.html
"...The higher fatality rates indicate that crashes are becoming more severe, pushing up the costs of repair and replacement as well as legal liability..."
What does that even MEAN? I didn't just fall off the turnip truck. More fatalities? Big effing surprise! Remember when dents could be hammered out and sanded smooth again? Check out the solidity of a 1958 DeSoto vs. a compact 2023 Suzuki sedan. Duh. But of course, he won't mention that aspect of the bigger picture.

DJIA futures this evening are at 40,000+.

@yogibearbull,
Good chart. Since the last FOMC / press conference when Powell took rate hikes off the table (5/1), MRFOX is lagging substantially behind any moderate allocation fund I follow or the proxies for MA funds (HELO, PHEFX, etc.) this forum uses for moderate allocation funds. It is a bit discouraging that the team has been overly defensive after Powell presser. Proving again that in mutual fund investing hot money attracts cold returns.
I was going to add to MRFOX but its March and April inflows (and its TR since April 1) have been discouraging. Good luck to me and others that hold this fund.
P.S.: why I compared the fund to MA funds (incorrect comparison)? I wanted the fund to match or beat MA funds and as such I bought the fund in place of a MA fund, rather than in place of an equity fund in its category - just low expectations.
Thanks

Jeff DeMaso discusses Vanguard's new CEO among other topics.
https://www.independentvanguardadviser.com/a-new-leader-comes-to-vanguard/

Thanks for the link. Always appreciated.
He writes:

it certainly feels like Vanguard's culture has been changing already. Vanguard adding fees and selling off non-core businesses—like its small-biz retirement accounts—lends a sense that the bottom line has taken priority from the shareholder (owner) experience

Though the antecedent (Vanguard returning to its core business) was apparent, I had drawn the opposite conclusion.
Some companies manage to expand their lines of business successfully. Many do not and decide to focus on strengthening their core competencies. For Vanguard, that has always been inexpensive, conservatively managed funds.
Between 2002 and 2019 Vanguard offered a cash management account, Vanguard Advantage. It was offered only to Voyager Select ($500K+) and Flagship ($1M+) customers; the former had to pay $30/year and $4.95/mo if you used BillPay.
https://www.investmentnews.com/industry-news/news/vanguard-to-end-its-small-cash-management-service-78435
https://www.mymoneyblog.com/vanguardadvantage-all-in-one-checking-account-at-vanguard.html
This was not Vanguard's core business, and it wasn't going to put money into it unless it saw it getting traction with it well-heeled customers. Today it offers a barebones cash management account that offers nothing but ACH transfers (and a bank sweep) - minimal services that are cheap to provide. Even here, it started with a controlled rollout.
It launched three managed payout funds in 2008 (talk about bad timing), merged them into a single fund in 2014, eliminated the managed payout feature in 2020 (renaming the fund Managed Allocation Fund), and ultimately merged the fund away altogether in 2023.
https://corporate.vanguard.com/content/corporatesite/us/en/corp/who-we-are/pressroom/Press-Release-Vanguard-Announces-Changes-To-Managed-Payout-Fund-02282020.html
It offered a variable annuity (through an outside insurer) with underlying Vanguard funds. Again not a core product, it got out of the business of administering the VA in 2019.
https://corporate.vanguard.com/content/corporatesite/us/en/corp/who-we-are/pressroom/Press-Release-Vanguard-Transitions-Variable-Annuity-Offering-061919.html
In that press release, Vanguard even comments that it will be "Focusing on core offerings". This is nothing new; it didn't start in 2024 with Vanguard shedding its small business retirement accounts.
Bogle built a solid money management firm. Once he left, Vanguard dabbled in expanding financial products. For the most part, it hasn't done this well. While still dabbling it has often retreated to its core business. Sticking to one's knitting does not mean that one is placing the bottom line ahead of shareholder interests.
This is not to say that Vanguard shouldn't be spending more to support its huge number of investors. It can, and IMHO should, nudge people toward electronic trading and communication. But it also needs to improve its human communications as well. This is not a matter of shedding lines of business. This is a matter of providing decent service for its core businesses.

P&C insurer Chubb/CB has been mentioned several times in this thread. Now it's revealed that CB was the secret stock Warren Buffett/BRK has been accumulating for 3 quarters - with SEC's blessing. This $6.7 billion stake isn't even a baby elephant (-:)
https://www.cnbc.com/2024/05/15/warren-buffetts-berkshire-hathaway-reveals-insurer-chubb-as-confidential-stock-its-been-buying.html

@hank noted:

'for many driving a high-riding 4X4 outfitted for off-roading and getting 14-15 mpg fills some deep-seated psychological need.'

The vehicle marketing folks continue to tap the 'Peter Pan Syndrome', being a psychology term for people who find it difficult to grow up.'
I fully believe this syndrome has become overwhelming in this country.
One only has to watch the big truck and SUV ads watching folks drive their multi $10,000's vehicles over massive boulders, driving up to the edge of cliffs and driving through every type of terrain and way too fast on icy roads; and never missing a chance for a damn good power slide somewhere in the desert. I hope they have good cell service when they break the hell out of something on their 'pretty baby'.
The positive part is that these things help keep a lot of folks employed in various industries in one capacity or another.
The bad: we all pay higher vehicle insurance rates.
AS from the title of the wonderful 1963 movie: 'It's a Mad Mad Mad Mad World.'

”Warren Buffett's Berkshire Hathaway (BRK.8 +0.61%) unveiled a big investment in Chubb (CB -0.08% V), resolving a mystery that has intrigued followers of the Omaha, Neb., company. Berkshire's stake in the insurer was worth $6.7 billion at the end of March, according to a regulatory filing made public after the market closed Wednesday. It gave Berkshire ownership of 6.4% of Chubb, according to Dow Jones Market Data. Berkshire amended earlier filings to show it had been building the position in the second half of 2023.”
Above Excerpt From today’s Wall Street Journal (May 15, 2024)
It had been earlier reported that Berkshire had obtained a special SEC exemption to avoid disclosing (a then undisclosed) position.

NPR reported yesterday that Boeing received 7 plane orders in the past month but that 33 previous orders were canceled. That’s nearly 5 steps back for every one forward.

”Over the past three decades, SUVs have come to dominate new car sales in America, with other large vehicles like pick-up trucks also selling in large numbers. By 2025, some experts believe that the light-truck segment, including SUVs, will make up 78% of sales …
“But not only has the number of trucks on the road grown, they’ve grown in size too. For example, since 1990, pickup trucks have added 1300 pounds on average. Moreover, styling trends have created larger front ends that, aside from looking imposing, can decrease visibility from the cab, which critics – and studies - say increases the likelihood of accidents.
Article
This confirms my observations that, at least in northern Michigan, average size of vehicles on the highways is getting bigger and bigger. Larger size impacts insurance costs in two ways: (1) More sheet metal means more to replace, repair, paint and (2) A larger heavier vehicle inflicts greater damage on that which it strikes. No doubt, for many driving a high-riding 4X4 outfitted for off-roading and getting 14-15 mpg fills some deep-seated psychological need, even if they seldom haul cargo and never drive off-road. Lunacy, ISTM to use something like that routinely to run to the grocery for a gallon of milk.
Peace.

The CPI index this morning (May 15) was down a bit, which is good; but Bloomberg cited that the very large increases in auto insurance (which is a portion of the index) had an affect on the CPI not being lower. So, as has been discussed here; auto insurance rates are being noticed by others, too.

From NYTimes:

two years ago ... [t]he Covid pandemic disrupted supply chains... making spare parts hard to get; out-of-practice drivers emerging from lockdowns caused more severe wrecks; and technological advancements like motion sensors made even the simplest parts, like a fender or a rim, expensive to replace.
... Car insurers are still raising prices steeply: The price of motor vehicle insurance rose more than 22 percent in the year through April. ...
That has made car insurance a prominent factor preventing overall inflation from cooling more quickly, ...
A key reason car insurance costs are rising so fast right now has to do with how the industry is regulated. ... [A combination of insurers not having been able to set rates intelligently because of skewed historical driving patterns during the pandemic and because of regulatory backlogs when all the insurers finally filed for increases all at once.]

https://www.nytimes.com/2024/05/15/business/car-insurance-cost-inflation.html
FWIW, I just got my quote and it's about 25% above a year ago (I'm on a 6 month cycle but I'm looking back to the mid 2023 bill). It's in line with the industry but it still stings.

I’ll have to confess … in several hundred flights over 50+ years I’ve never found myself ordering pizza delivery at 2:30 AM from some outfit in a Chicago suburb. Flight was more than 7 hours behind schedule. Missed a connection home. Booked a room near O’Hare. All 4 of my cards were declined the first try. One local bank debit card went through the second time. I had called the bank before leaving and left travel notes. The pizza was great. I never eat it except under the most stressful travel situations. Last one was 4 or 5 years earlier when got stranded in NYC an extra night. Which was better? I’d give a slight edge to NYC pizza.
Sorry to deflate your balloon @msf. Go ahead and use your “special offer.” I don’t think I want any part of this. :)

Just got my Fidelity offer in the mail. These come so frequently that I usually just toss them without looking. My offer is for only 12 months 0% interest, though with a $150 bonus if I charge $1K within 90 days. As MrRuffles observed, that's exactly the same offer that Fidelity has online.
And here I was hoping Fidelity thought I was someone special :-)
Like hank's current card, BofA does not let you record travel notices. This has concerned me ever since BofA denied a $300 car repair charge. Best guess is that they flagged it as suspicious because I was having repairs done at a gas (service) station. Who charges $300 worth of gas?
At least I could call the bank from the service station. It's more of a problem internationally, though BofA lets me clear these holds online. Nevertheless, it's a reason I keep an eye out for a backup card (preferably MC) with no foreign transaction fee and decent cash back/no fee.
I may just have to go along with Meat Loaf here: