The amount of federal debt held by the public totals more than $21 trillion, magnitudes above the $5.3 trillion debt carried by the country in the fourth quarter of 2008. Almost $4 trillion was added to the debt following the Trump administration’s efforts on the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
But the former Fed chair commented that because of near-zero short-term interest rates, the total interest burden as a share of GDP is lower now than it was before the financial crisis in 2008.
It looks t me , a fine line to walk .
https://finance.yahoo.com/news/treasury-nominee-janet-yellen-outlines-priorities-under-biden-administration-185327249.html
Stay Safe, Derf

If the ACH transfer is initiated before 1pm then the funds are available almost immediately, at least that has been my experience. If after 1pm the funds are available the next day. Why. I am not sure. Possibly it is based on the amount of assets in the account. It was a surprise to me, as I expected a 5 day wait according to their information on the site. I have only bought MF's so far. I use other brokerages for my ETF,s etc. so far.

Every MF on the platform is NTF. Also instead of VWINX I bought VWIAX the admiral share with a lower ER with a $500 minimum. Same with the other Vanguard admiral funds so far. The site is quirky in that the M* info page shows the normal 50,000 minimum but on the buy ticket the minimums change to $500. I also have a Vanguard acct that was switched from the MF account that I had for 20 years and find that Firstrade is much easier to use online.

Just a note to alert those concerned: PRIDX
Using (premium!) Portfolio Manager, Morningstar STILL, at this hour, shows a loss per share today, 19th January, of 3 cents. But look instead at the "snapshot" view of the fund, and you'll see that the actual daily performance was +1.75%.
(The lovely geniuses in charge stopped offering hard-currency amounts in that space, long ago. Percentage is offered, only.) .....MARKETWATCH shows the per share rise in actual dollars and cents to be +$1.61. And that info is available FOR FREE.

Schwab has some other perks that I like. The debit card issued with Investor Checking (its ludicrous to call it HY) has no foreign transaction fees and ACH transfer fees (nominally $25) from the brokerage account are waived. Just paid quarterly taxes electronically from the checking account, seamlessly. The service reps have been unfailingly helpful and knowledgeable; for the oldsters among us, speakers of standard English really help my comprehension. While I like CapitalOne for its credit card, I don’t like having to put all my effort into listening carefully to reps who struggle with the language. (I used to profess French lit, so I have some expertise in language; the curmudgeon in me does come out, nevertheless.)

I would like to know how I can find out how much leverage is used in a fund. I use the Schwab platform. Tkx!

Knowing already that it's highly leveraged--- according to this thread (SVARX), I see what Morningstar offers in terms of examining what's in the fund's portfolio. Under "other," there's a BIG chunk of stuff. It seems to me that "other" ought to be a catch-all for a small portion of miscellaneous stuff that can't be accounted for, otherwise. But SVARX shows 38.14% in "Other." weird. It's a backdoor way of seeing it. But I suppose that is what's going on there.

IJR tracks the S&P 600 index. VTMSX is an actively managed fund which tracks the same index while attempting to minimize taxable gains.
VSMAX tracks the CRSP U.S. Small Cap Index.
It has more holdings and a higher median market cap than S&P 600 index funds.
FSMAX tracks the Dow Jones U.S. Completion Total Stock Market Index and VEXAX tracks the S&P Completion Index. Both of these extended market funds are designed to complement an S&P 500 index fund.
These mid-cap funds have more holdings and higher median market caps compared to VSMAX.
I would avoid funds which track the Russell 2000 index due to this index's inferior design.

Thanks All for the comments and suggestions . @BewnWP &@AndyJ > I was cautious about the Mathews fund due to the recent departures of fund managers. I definitely understand EM is inherently more risky, exactly why I was concentrating on the MAxDD and time to recovery . I am risk averse by nature and willing to give up some upside capture if it mitigates downside. Weirdly on Schwab the portfolio detail has 85 of japan in FSEAX .

I would like to know how I can find out how much leverage is used in a fund. I use the Schwab platform. Tkx!

It's being delved into here:
https://armchairinvesting.freeforums.net/thread/733/introducing-svarx

The above will not show you how much and how long leveraged was used over the years. The managers can change it anytime.
I found the semi-annual report for SVARX (link) from 3/31/2020 and more than 50% is in treasury bills, mutual funds about 30%, MM at 13.8%(maybe used for leverage).
What was the leverage 3-6-12 months prior at any time? no way to know

CEF ROC can be destructive, constructive, or other.
Here's M*'s writeup, via Fidelity, of pass-through and of and constructive ROC.
https://www.fidelity.com/learning-center/investment-products/closed-end-funds/return-of-capital-part-two
I agree with you that in general ROC is destructive. This is why I tend to suggest caution in focusing too much on current yield. Whether from a CEF, ETF, or OEF, including OEFs comprised of bonds.
If market rate on a one year bond is 1% and your bond has a 2% coupon, it will be priced at 101. A year from now (assuming one coupon per year for simplicity) you'll get that 2% in "interest" but you'll have lost 1% in principal. That 2% payment is really 1% in interest and 1% ROC. In fact, for individual bonds, that's how the IRS treats it. See boxes 11-13 on form 1099-INT.
https://wiki.1099pro.com/download/attachments/89456651/image2020-5-18_11-3-3.png

I would like to know how I can find out how much leverage is used in a fund. I use the Schwab platform. Tkx!

It's being delved into here:
https://armchairinvesting.freeforums.net/thread/733/introducing-svarx

From another thread...
newgirl
January 17 Flag
@Benwp and @MikeW ... I 'd love for you to start the thread on Small Cap and EM Asia .
I am very interested in thorough analysis!
Not either of those posters, and not sure I can provide thorough analysis, but...
First, for EM, see a good discussion at
https://www.mutualfundobserver.com/discuss/discussion/57597/some-questions-on-emerging-market-funds#latest
Small Caps: IMO, the rotation is REAL and has been happening now for several months. Getting frothy perhaps but appears there is still a LONG way to go and it's not too late to participate. To wit, SCs are set to Rock the Casbah again this AM.
First entry into the cat in a BIG way was on the value side, selected FCPVX (UP 7.3% YTD), then a smaller play with Foreign SCB/MCB FISMX (and its arguably unique splatter).
More recently bot MSSMX (UP 11.3% YTD, UP 150% in 2020), Morgan Stanley's gem of a SCG fund.
Others considered:
SCG: WMICX, ARTSX, FDSCX, PXSGX, QUASX
SCV: RYOFX
EM SC: VAESX, WAEMX
Foreign, EM and SC (all cats that generally require a bit of bravery/insanity for retirees at least) are providing some REAL energy to otherwise (temporarily?) lackluster, US LC-laden ports these days, and I expect that to continue this year and possibly beyond. Suggest DCA'ing at this point as an interim pullback seems likely. YMMV.

Original posting on this thread, 5 years ago:
"....relatively conservative LC/All Cap dividend value fund..."
Are you still intent on a value emphasis, in 2021?
I'm doing just a quick look... Vanguard has been getting negative reviews here in terms of customer service. But VEIPX certainly looks good. Then there's PRDGX. But just lately, Index performance has beaten the fund's performance by a bit. .....Alternatively, what about investing in a single stock that strikes your fancy? For income, I use bond funds. These days, bonds are poison, I know. But I can't be pulling up roots and making changes all the time, depending on which way the wind blows. I've got the other bases covered to my satisfaction.

Hey @newgirl. The way I have invested in EM is to take positions in MIOPX, FSEAX, and CHIQ. By its nature EM tends to be more volatile so its difficult to try to invest in it without taking on a fair amount of risk. MIOPX diversifies that risk because EM is "only" about 37% of the portfolio whereas the balance is mainly in Europe, the U.S. and Canada. Kind of a barbell strategy which has worked very well over the long term. The fund is in the top 10% over the past 1, 3, 5, and 10 years for its category. however, its returns have been more muted over the past 1 and 3 months. FSEAX has had much higher returns over that short timeframe and if you pull up its long term performance on Morningstar its quite impressive. I really like the consistency in the performance of this fund. The other thing I like about FSEAX is that the manager has rotated more into financials so appears to be increasing his stakes on the value side more. I like to see a manager making those types of modifications to the portfolio based on valuations and their assessments of where the market is going. India and China are now the largest countries in the portfolio. I don't see any investments in Japan for FSEAX. here's the latest fact sheet.
https://www.fidelityinternational.com/legal/documents/SG-en/hffs.SG-en.SG.G-FEMU.pdf
You should also take a look at MATFX. I really like the manager of this fund very much and he's been running it with strong performance for about 15 years. This one is going to have a larger position in technology and communication services so that's something to consider. Those sectors are starting to lag here in the U.S. Will that be the case for EM too going forward? not sure.
For myself, I haven't added to EM in several months and have instead increased my stakes in U.S. financials and also in U.S. small cap because I see those as being a bit stronger in terms of opportunities and because my personal asset allocation has been low in those areas. But I will probably do so soon. I think EM Asia is very promising over the long term.

@Derf You try'in to overload an oldtimers brain cells....??? :)
I recall reading a few articles in Barron's or WSJ about the Beardstown Ladies investment club.
About the coworker investment club: the life span was a portion of 1985 through a portion of 1991. As most funds required $2,500 to invest (exception was FCNTX); we had to get to that point for a purchase of a fund. The goal was met in short fashion. The initial monies went into a MM Cash Reserves fund that had a 1988, 7 day yield of 7.2%.
Additionally for the funds of this time period, is that many had a 3% (one time) front load and some had redemption fees up 1.5% within the first 12 months of purchase. This was still better than many of the prominent big houses at the time.....a Merrill Lynch, etc. The E.R. range was from .83 through 2%. The Select funds might also have a $75 trading fee. Select funds at the time could be bought and sold on the hour throughout the business day. Transactions were performed through F.A.S.T. (Fidelity Automated Service Telephone) using a touch-tone phone.
All investments were through a Fidelity account and only used their mutual funds.
I can offer a few trinkets about this period (1985-1991) and investing. As noted previous, Fidelity had already established numerous "select" funds; the front runners of sector funds or what are named thematic today.
To the best of my recall, we used the following funds during this period:
---Cash Reserves, MM
---Select American Gold (later merged in Precious Metals)
---Select Computers
---Select Health Care
---Contra... FCNTX
---Captial & Income, (junk bonds and related) FAGIX
We didn't trade often, mostly due to the fees. We also escaped, without harm, during the Oct., 1987 market melt, as we did not sell anything, and our position in American Gold provided a +40 in 1987 to provide a balance.
My recall for the time frame of the club is 10-12% annualized. As members of the club placed different amounts each month, each member had a percentage of ownership when the club was dissolved; and the total profits were dispatched to each member, along with their tax form for the year.
I'm sure I've missed something I thought about previously, but a fun flashback.
Take care,
Catch

I am trying to make a choice on a new Emerging market position . I need some clarifications?
1.FSEAX -looks amazing, The Martin Ratio/ MaxDD and recovery - and the performance SCHWAB SUMMARY STATES EX JAPAN - But in the country allocation detail it shows an 85 position in Japan
2. Is SIGIX and PRIJX recent performance lackluster solely due to the Value proposition, and is that a great reason to invest there at this time ?
3. per David's recent comments and Theresa Kongs comments about EM Bonds ( I don't have any ) would a position in FTEMX/FTDEX - (20 % BONDS ) be a timely move.
4, I haves dry powder in both taxable and un taxable accounts ready to invest - currently very heavy large Caps US- so looking to diversify into Foreign Small caps and EM . I have already started ne position in MFAIX - Looking at lower risk way to add the higher risk EM to my portfolio.
Many thanks !

BT2020:
Warnings?
You didn’t post any warnings in your original post!
You never mentioned the fund was highly leveraged.
But whatever....
From what he has posted on this and other forums about this fund, it appears he did not know it was highly leveraged until other posters noted it.
To wit: "I'm not sure what the managers of SVARX are doing..."
He's also posted elsewhere that (paraphrasing), " We'll never know how long they've been using leverage or to what extent."
Other posters are digging into that here and elsewhere.
That said, call me silly but I'm pretty sure if someone uses their internet/camera device to make a phone call (You can do that?), someone at Spectrum Funds might just share that information. Looks like this is their number...888-572-8868
http://thespectrumfunds.com/LowVolatility.cshtml#close

@BenWP: I'm guessing you're meaning ARKK? ARKK has a little of everything, but is getting HUGE...
I personally like ARKW as a hold, and I'm in and out of ARKG; since the volatility there is just CRAZY; 4-5% in a day isn't uncommon!!! And that recent week's runup; what was that; like 20%? More? Man...
Say what you will, Catherine Wood has been on fire for a few years now, and the only regrets I've had came on SELLS! I know it has to end, maybe badly, but until then...

I re-balance twice yearly. Also I prefer to reapportion monthly dividends/gains to positions of my own choice based on the economy, my current financial and tax situation or cash needs. Typically I would do about 40 buys/sells a year. At Wellstrade that would have been $1,600/yr. At Fidelity about $800-1000/yr. Same at Vanguard. A free cash management account with checks/ATM card is available with 25K or more in the account, which I have. With the greater availability of cheaper institutional/advisor class funds and all no load funds (over 12,000) being NTF this was a no brainer for me. As always ,each to his/her own. I realized great cost savings and I wanted to share this ,with those who might be interested.