Here's a link to all 2025 U.S. Lipper Fund Awards.
https://www.lipperfundawards.com/Awards/UnitedStates/2025/Fund

”(Bloomberg) -- Investors have slashed holdings of US equities by the most on record, according to Bank of America Corp.’s latest survey, underscoring the massive rotation that’s underway in global markets. Fund managers reported being about 23% underweight in US stocks — a plunge of 40 percentage points from the previous survey.”
”In another marker of investor caution, cash levels have risen to 4.1% from 3.5%, the biggest jump since 2020, according to the survey. Traditionally defensive plays, such as consumer staples, also registered an increase in allocations, while tech had a sharp decline.”
Story at Yahoo

https://www.sec.gov/Archives/edgar/data/820892/000119312525056091/d839706d497.htm
497 1 d839706d497.htm NUVEEN INVESTMENT FUNDS, INC.
NUVEEN MID CAP VALUE 1 FUND
SUPPLEMENT DATED MARCH 18, 2025
TO THE PROSPECTUS AND SUMMARY PROSPECTUS DATED FEBRUARY 28, 2025
At a special meeting held on March 5, 2025, shareholders of Nuveen Mid Cap Value 1 Fund (the “Fund”) did not approve the proposed reorganization of the Fund into Nuveen Mid Cap Value Fund that was previously approved by the Board of Directors of the Fund (the “Board”) in September 2024.
As described in the proxy materials provided to Fund shareholders in connection with the proposed reorganization, the Board will review and take such action as it deems to be in the best interests of the Fund, including continuing to operate the Fund as described in the prospectus, liquidating the Fund, or such other options the Board may consider. Fund shareholders will be notified when the Board approves a course of action for the Fund.
PLEASE KEEP THIS WITH YOUR PROSPECTUS
AND/OR SUMMARY PROSPECTUS
FOR FUTURE REFERENCE
MGN-FMCVSP-0325P

https://www.sec.gov/Archives/edgar/data/883622/000113743925000223/497.htm
497 1 497.htm
IVY FUNDS
Macquarie Global Allocation Fund (formerly, Delaware Ivy Wilshire Global Allocation Fund)
(the “Fund”)
Supplement to the Fund’s Summary Prospectus (as amended), Statutory Prospectus (as amended) and Statement of Additional Information (as amended), each dated October 30, 2024
On February 11-13, 2025, the Board of Trustees of Ivy Funds approved the reorganization of the Fund (Reorganization) into and with a substantially similar fund and class of Macquarie Balanced Fund, a series of Ivy Funds. Subject to the requisite shareholder approval, the Reorganization is now expected to take place on or about June 27, 2025 (Reorganization Date).
As noted in the supplement dated February 13, 2025, no contingent deferred sales charge will be assessed in connection with any redemption of shares of the Fund prior to the Reorganization.
Effective one week before the Reorganization Date, the Fund will close to new investors and existing shareholders.
Prior to the closing of the Reorganization, the Fund will distribute to its shareholders, in one or more distributions, all of its income and gains (net of available capital loss carryovers) not previously distributed for taxable years ending on or prior to the Reorganization Date.
Because everyone’s tax situation is unique, you should consult your tax professional about federal, state, local, or foreign tax consequences before making an investment in the Fund or acting on a distribution check.
Delaware Management Company is an indirect wholly owned subsidiary of Macquarie Group Limited (MGL). None of the entities noted in this document is an authorized deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia) and the obligations of these entities do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (Macquarie Bank). Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these entities. In addition, if this document relates to an investment (a) each investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group company guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment.
Please keep this Supplement for future reference.
This Supplement is dated March 18, 2025.

(update: web search indicates clearly broken, no fix pending, reputations preserved.)
quick question, has turbotax or vanguard killed \ broken this option?
not the brokerage import, but the very basic vanguard mutual fund -only account that worked for past ~15 years.

I don't care whether there is a recession, or not. My concern is the health of my IRA. And there's lots of information out there telling me it doesn't need to be fully invested yet. Dinky linky.

The market's main issues as stocks declined? Growing uncertainty around President Trump's policies, how those might impact a weakening economic growth outlook — and fears over the artificial intelligence boom disappointing. In the past week, there's been little evidence that those fears were overblown.
In other words, other than some stocks being "cheaper" than they were a month ago, when the S&P 500 hit its most recent high, there haven't been a lot of compelling cases to convince investors — who didn't buy stocks last week — to pile in now.
Plenty of survey data has cited concerns about how tariffs could impact both consumer and business spending. But there haven't been enough hard data points, like significantly softening consumer spending numbers, weak labor reports, or a swath of earnings guidance cuts, to complete the story.
"The vibes have helped us understand why the stock market has been getting hit so hard, and why concerns about the direction of the economy are rising," RBC Capital Markets head of US equity strategy Lori Calvasina wrote. "But the vibes aren't sending us a clear signal about whether, even with the S&P 500 down 10% from all time highs, a contrarian buying opportunity is at hand."

Maybe something like certainty will begin to appear as we get closer to April 2. On the other hand, things could also get crazier. No one knows which direction the trade wars will go. And we have yet to see data resulting from those tariffs that have gone into effect.
If you follow the conventional wisdom of the anodyne analysts, none of the above matters. You should stick to your plan, ignore what is happening in trade policy because politics, and timing markets might cause hair to grown on your palms, but will definitely end in tears.
For extra credit:
"The market can remain irrational longer than you can remain solvent." Turns out Keynes didn't say that, some guy named Gary Shilling did. Check it out.

That sort of makes sense. The Social Security Fairness Act of 2023 makes adjustments to claimed benefits. These adjustments are made to all eligible claims beginning Jan 1, 2024.
Independent of this is another SS rule: you can make claims retroactively for up to six months (with some exceptions). For example, if you are maxing out benefits by waiting until age 70, then so long as you apply before you are 70½ you can get all your checks from the month (after) you turn 70. But if you wait until you're 71, you'll still only get the last six months of benefits.
Put the two together, and you get your situation - unclaimed benefits now claimed retroactively are granted for only the past six months. And only claims are GPO-adjusted.

I'm a slow bond funds trader looking for a consistent lower SD funds with good performance, regardless of what the fund own.
PImix stopped doing that in 01/2018.
Cloz has been amazing for at least 1.5 years. The magic disappeared too.
Chances I would own PIMIX is low and definitely not at a higher %.

3.18- Took profit on EWH (Hong Kong). The price looks stretched after a big move up.
Purchased another tranche of PRCFX. - It continues to demonstrate muted volatility, with a proven manager (D. Giroux).
In terms of optimizing returns on cash in taxable account, added to holdings in BOXX. -- This ETF (essentially) allows one to defer tax on T-bill like ETF, and, if one holds +1year, pay lower cap-gains rate on the accrued value. It essentially performs like a savings bond, but in an ETF wrapper. The ETF has garnered ~ $5.5 billion AUM in the 2+ years its been operating.

Yahoo Finance has an open link with good background information on naming of Michelle Bowman as the Fed's new Vice Chair for Bank Supervision. As Michael Barr stays on as Fed Governor, no Fed vacancy is created by this (he resigned from the VC position in January to make room for a new VC).
https://finance.yahoo.com/news/trump-names-bowman-as-feds-top-bank-cop-signaling-shift-in-regulatory-stance-201555526.html

Interesting that Michelle Bowman voted for the cut. As I said before, she is doing all the right things to become the next Fed Chair. Good for her.

Here you go -
https://www.bloomberg.com/news/articles/2025-03-17/trump-taps-bowman-to-be-fed-s-top-bank-cop-as-wall-street-cheers

https://www.sec.gov/Archives/edgar/data/806564/000110465925024024/tm258948d2_497.htm
497 1 tm258948d2_497.htm 497
Filed by: Morgan Stanley ETF Trust
Pursuant to Rule 425 under the Securities Act of 1933 and
deemed filed under Rule 14a-12(b) under the Securities Exchange Act of 1934.
Subject Company: Morgan Stanley Mortgage Securities Trust
SEC File No. 811-04917 and 033-10363
SUPPLEMENT DATED MARCH 14, 2025 TO THE SUMMARY PROSPECTUS, PROSPECTUS, AND STATEMENT OF ADDITIONAL INFORMATION OF
Morgan Stanley Mortgage Securities Trust, dated February 28, 2025
(the “Acquired Fund”)
At a meeting held on March 12-13, 2025, the Board of Trustees (the “Board”) of the Morgan Stanley Mortgage Securities Trust unanimously approved the reorganization of the Acquired Fund into a newly-created exchange-traded fund (“ETF”), which will be managed by Morgan Stanley Investment Management Inc. (“MSIM”), which is also the investment adviser to the Acquired Fund. The Board, which is comprised solely of Trustees who are not “interested persons” (as defined in the Investment Company Act of 1940, as amended) of the Acquired Fund, determined that participation in the Reorganization (defined below) is in the best interests of the Acquired Fund and the interests of existing shareholders of the Acquired Fund (“Acquired Fund Shareholders”) will not be diluted as a result of the Reorganization.
Subject to shareholder approval, the Acquired Fund will be reorganized into a newly-created ETF, Eaton Vance Mortgage Opportunities ETF (the “Acquiring Fund” and together with the Acquired Fund, the “Funds”), a series of Morgan Stanley ETF Trust (the “Acquiring Fund Trust”) (the “Reorganization”).
If approved by Acquired Fund Shareholders, the Reorganization would be accomplished in accordance with an Agreement and Plan of Reorganization. Subject to shareholder approval, the Reorganization is anticipated to occur (after the close of trading) on or about August 1, 2025 (the “Closing Date”). This supplement is not a solicitation of proxy.
Acquired Fund Shareholders of record on April 10, 2025 will receive a combined Proxy Statement and Prospectus that contains important information about the Reorganization and the Acquiring Fund, including information regarding the Acquiring Fund’s investment strategies and risks, fees and expenses.
If Acquired Fund Shareholders approve the Reorganization, and certain other closing conditions are satisfied or waived, Acquired Fund Shareholders who own shares of the Acquired Fund (“Acquired Fund Shares”) through a brokerage account that can accept shares of an ETF will become shareholders of the Acquiring Fund (which will operate as an ETF) receiving shares of the Acquiring Fund (“Acquiring Fund Shares”) with an aggregate value equal to the aggregate net asset value (“NAV”) of their Acquired Fund Shares held immediately prior to the Reorganization, except with respect to cash received in lieu of fractional Acquiring Fund Shares, which cash payment may be taxable.
The Acquiring Fund is a newly-created series of the Acquiring Fund Trust and will not commence operations until the consummation of the Reorganization. The Acquired Fund and the Acquiring Fund have identical investment objectives and principal investment strategies. However, there are important differences between the Acquired Fund and the Acquiring Fund. For example, although the Acquiring Fund will be subject to similar investment risks as the Acquired Fund, the Acquiring Fund will be subject to additional risks, such as structural risks related to ETFs, which will be described in the combined Proxy Statement and Prospectus. In addition, the Acquired Fund and the Acquiring Fund have substantially similar fundamental investment policies. However, the Acquired Fund’s investment objective is “fundamental” (i.e., it may not be changed without shareholder approval) whereas the Acquiring Fund’s investment objective may be changed without shareholder approval with notice to shareholders of the Acquiring Fund (“Acquiring Fund Shareholders”).
MSIM believes that the Reorganization will provide multiple benefits for Acquired Fund Shareholders, including anticipated lower gross and net expenses as well as additional trading flexibility, increased transparency and the potential for enhanced tax efficiency. However, given that the Acquiring Fund will effect some or all of its creations and redemptions in cash rather than in-kind, a shareholder will not benefit from the greater tax efficiency of the ETF structure to the same extent as a shareholder of an ETF that effects all of its creations and redemptions in-kind.
The Reorganization is structured to be a tax-free reorganization under the U.S. Internal Revenue Code of 1986, as amended. As a result, Acquired Fund Shareholders generally will not recognize a taxable gain (or loss) for U.S. tax purposes as a result of the Reorganization (except with respect to cash received or with respect to investors whose shares are redeemed prior to the Reorganization, as explained elsewhere in this Supplement).
In addition, to fund redemption transactions prior to and in connection with the Reorganization, the Acquired Fund may have to sell securities. These transactions may also result in net realized capital gains to the Acquired Fund, which may result in taxable distributions to shareholders either (i) by the Acquired Fund prior to the Reorganization or (ii) by the Acquiring Fund after the Reorganization.
Importantly, in order to receive Acquiring Fund Shares as part of the Reorganization, Acquired Fund Shareholders must hold their Acquired Fund Shares through a brokerage account that can accept shares of an ETF (i.e., the Acquiring Fund). If Acquired Fund Shareholders do not hold their Acquired Fund Shares through that type of brokerage account, they will not receive Acquiring Fund Shares as part of the Reorganization. For Acquired Fund Shareholders that do not currently hold their Acquired Fund Shares through a brokerage account that can hold Acquiring Fund Shares, please see the Q&A that follows for additional actions that such Acquired Fund Shareholders must take to receive Acquiring Fund Shares as part of the Reorganization. Other than the approval by the requisite vote of Acquired Fund Shareholders, no further action is required for Acquired Fund Shareholders that hold Acquired Fund Shares through a brokerage account that can hold Acquiring Fund Shares.
If (and only if) the Reorganization is approved by Acquired Fund Shareholders, it is expected that effective on or about the first business day of the month following shareholder approval of the Reorganization (the “Effective Date”), the following fees will be waived: (i) the sales charge on purchases of Class A shares of the Acquired Fund; (ii) the contingent deferred sales charge (“CDSC”) on Class A and Class C shares of the Acquired Fund; (iii) the 12b-1 fees for any applicable share class of the Acquired Fund; and (iv) any finder’s fee payments applicable to any class of shares of the Acquired Fund. Also, effective on the Effective Date, any current Letter of Intent under which Class A shares of the Acquired Fund were purchased would be considered completed. In addition, it is currently expected that if (and only if) the Reorganization is approved by Acquired Fund Shareholders, effective on the Effective Date, the Acquired Fund will be closed to new investors.
The Summary Prospectus, Prospectus and Statement of Additional Information will be amended accordingly...

https://www.sec.gov/Archives/edgar/data/1683471/000089418925001865/stfetfs497e31725.htm
497 1 stfetfs497e31725.htm STF ETFS 497E
Filed pursuant to Rule 497(e)
Registration Nos. 333-215588; 811-23226
Supplement dated March 17, 2025
to the STF Tactical Growth & Income ETF (TUGN)
STF Tactical Growth ETF (TUG)
Summary Prospectuses, Prospectus, and Statement of Additional Information,
each dated July 31, 2024
each, a series of Listed Funds Trust
The Board of Trustees of Listed Funds Trust (the “Trust”) has approved an agreement and plan of reorganization providing for the reorganization of the STF Tactical Growth & Income ETF and STF Tactical Growth ETF (each a “Fund,” together the “Funds”) into newly created series of the Hennessy Funds Trust (each an “Acquiring Fund,” together the “Acquiring Funds.”) (the “Reorganization”). The Reorganization is subject to the approval of shareholders of the Funds.
Each Acquiring Fund will have the same investment objective, principal investment strategies, principal risks and policies as its corresponding Fund. Jonathan Molchan of STF Management LP, a current co-portfolio manager for each Fund, will continue to serve as portfolio manager for each Acquiring Fund as an employee of Hennessy Advisors, Inc., investment adviser to the Acquiring Funds, following the Reorganization.
Under the terms of the agreement and plan of reorganization approved by the Board of Trustees of the Trust, each Fund will transfer all of its assets and known liabilities to an Acquiring Fund in exchange for shares of an Acquiring Fund. Shareholders of each Fund will thus effectively be converted into shareholders of the respective Acquiring ETF and will hold shares of such Acquiring ETF with the same net asset value as shares of the Target ETF that they held prior to the Reorganizations. The Reorganization is expected to be treated as a tax-free reorganization for U.S. federal tax purposes.
A shareholder meeting will be scheduled for the purpose of voting on the Reorganization. If shareholders approve the Reorganization, the closing of the Reorganization is expected to occur in July or August of 2025. If shareholders do not approve the Reorganization of a Fund, then the Fund will not be reorganized into its corresponding Acquiring Fund and the Board of Trustees of the Trust will consider what further actions to take with respect to the Fund, including, but not limited to, continuing to operate the Funds within LiFT or the liquidation of the Funds. Shareholders of record will receive a prospectus/proxy statement prior to the meeting, which will provide further details about the Acquiring Funds, shareholder meeting dates and voting details, as well as the Reorganization.
Please retain this supplement with your Summary Prospectus, Prospectus, and
Statement of Additional Information for future reference.

One day BLX performance = down. Latam. But it's otherwise been carrying on, despite all the Orange Noise, Confusion and Interference. Pays 4Q dividend a week from today. (25th March.) My only holding that was DOWN today, with @hank's original post in mind. Junk was up, but barely. When I see things coming apart, I suppose I'll switch out of Junk. But they've proven to be my least volatile holdings for quite a while, all the while getting me over 7% yield payments every month.

Morningstar’s @JPtak reports that the S.O.R risks are quite high in the first 5 years of 30-yr retirement period. So, one should use more conservative allocations & withdrawals in those first 5 years. Also, the portfolio balances must be monitored closely during those 5 years & corrective actions should be taken if the portfolio drops precipitously.
https://www.morningstar.com/retirement/how-avoid-outliving-your-retirement-savings-its-all-sequence

I have a special place in my heart for PIMIX.
It was the first bond fund I owned and the longest from around 2010 to 01/2018 at 50+% for years.
It was the fund I used to change my stock/bond % until I retired
But since 01/2018, the magic has been gone. I sold and never looked back.
The cheap, on sale MBS trade was gone. PIMIX AUM grew like no other.
...
PIMIX is s still open...why?
I stopped listening to PIMIX managers, no matter what the question is, they still like securitized/MBS for over 15 years.
It doesn't matter to me what a fund made 3-5-15 years ago, I care what it has been doing lately with a look at the future.
Add to PIMIX its derivatives and a black box tools and I'm skeptical.
Is PIMIX a good fund? Sure, but I continue to stay away.

what he said

This one definitely on my watch list. M* showing 2.25% yield?? Leverage is a little confusing tho. Drawdowns will be interesting. This ETF should have some back testing data. Not a new concept.

Bond market is multiple times bigger than the stock market.
The biggest stock fund is $1+ trillion.
The biggest bond fund is only low triple-digit billions.
PIMIX is still a baby among giant funds. Its AUM (MFOP data) bottomed at $111.1 billion on 10/31/22 and it's $179.8 billion as of 2/28/25 - that is an impressive +61.8% growth in 2 yrs, 4 mo for a large fund. This growth is despite Pimco having cousin ETF PYLD and several cousin CEFs PDI, PDO, PAXS.
Pimco markets PIMIX it well. It's often a choice in 401k/403b, including in my Fido 403b and TIAA 403b, and do I have it there (no other choices for multisector funds there).