Charles, since March of 2017 been between 40% and 100% IOFIX. Wish I could lie and say I was near 100% going into today but only 55%. Another 30% in DPFNX another bond fund that doesn’t seem to get enough respect for its steady performance. Will add to IOFIX when it has another one of those two day declines or more of where it drops a total of .40% or more. It has had a few this year. They usually appear around the last week of the month every few months or so.
Edit: Because I am a big believer in full disclosure, there were a couple periods beginning the end of December where I was completely out of IOFIX. There were better opportunities the first quarter in other bond funds. Albeit, this year it really hasn’t paid trying to outsmart IOFIX.

so, current holdings only iofix, sigix, zeoix, mint/cash. c

what raised IOFIX to day

Recently initiated holding in ZEOIX and added to IOFIX. Plus, recently picked up GE at under $13 ... it had a really good day today (ha). Own just three mutual funds currently: SIGIX, ZEOIX, IOFIX. Plus MINT.

Money market - FZDXX yielding 1.96%
SEMPX, SPFPX & IOFIX combo to add yield (along with risk) so as to keep up with inflation.

Thanks Junkster! Yes, openice has been working hard on the Holbrook profile. I've stayed heavy in IOFIX, despite your cautions ... which I'm always sensitive too. But sounds like you've stayed in too, even with the aum increase, so that makes me feel better. I also recently picked up ZEOIX after the er reduction ... a proxy to a 3 year cd w/o the hold period restriction. Hope all is well. c

It is hard to miss the Holbrook Income Fund - HOBEX/HOBIX - #1 in the short term bond fund category at Morningstar YTD and one year. Since apparently this fund will be featured in July’s monthly commentary here on MFO, I don’t want to steal anyone’s thunder and just mention it briefly. Holbrook is a new fund (July 2016) with only 14 million under management. The reason for the low AUM is that it is only available in 25 states and on two platforms - TD Ameritrade and Schwab - at least for now as Holbrook is actively looking to expand its reach. I have always been enamored of small newer funds and especially ones with a niche. Holbrook’s niche are the bonds of BDC’s ( Business Development Companies). These higher yielding bonds go by the moniker of “Baby Bonds” and are rated investment grade. None of these BDC bonds have ever previously defaulted on their obligations.
Yes, I know, a relatively high expense ratio (common for a new fund with low AUM, but I heard the same thing last year about IOFIX. Presently I am around 90% in non agencies via IOFIX (42%). DPFNX (29%) and SEMPX (19%). These funds have bucked the overall downtrend in bonds YTD. But so has the Holbrook Income fund. It first caught my attention by its tight rising channel price action. I was able to purchase HOBIX through TD Ameritrade after contacting Holbrook. I spoke with the head of marketing Mike Burns and was also able to speak with the fund manager Scott Carmack. I was extremely impressed with both. This fund is not ordinarily my cup of tea as they aim for 4% to 5% annually with minimal drawdown along the way. But In this current bond environment though 4% to 5% sounds pretty good. So we shall see how it goes but with of course an exit point in place.
Again, there will be a more detailed description of this fund in them July MFO monthly commentary.

Anyone curious about SEMPX: have a look at the holdings. It's pretty diversified across the mortgage spectrum: a few agencies and some commercial in addition to the non-agencies. About the latter -- in contrast to IOFIX/IOFAX, it's spread about evenly between legacy and new issues, and only ~ 1/3 in subprime.
Short version: it's sort of reasonably balanced among the subsectors, so at least is somewhat diversified among specific risks.

As mentioned above, a really ugly year for bond funds. The next domino to drop may be junk corporates. About all that has worked are non agency rmbs and bank loan bond funds. The latter worry me if junk corporates get hit. Going into today I am 75% IOFIX and 25% EIFAX.

.....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???? :)

okay... are we saying IOFIX is investing in such "1-share stocks"?

@VintageFreak
Bought IOFIX directly through the transfer agent. A, C and I classes have same initial minimums ($2,500), but different expenses.

We will soon have CEFs in the rating system. So, can't yet quickly pull-up numbers, but I seem to remember both PDI and PRY have substantially higher vol than IOFIX. c

Hmmm ...
I guess I don't have more to say than ...
Lightning In A Bottle

IOFIX zigged when other bond funds and the entire market zagged.
http://www.morningstar.com/funds/xnas/iofix/quote.html

"The allocation back into high yield is a vote of confidence for risk-on bets," Lukeman said...Thanks @Junkster.

The past month junk has shown some real positive divergence with equities. While the S@P is down over 4% and the NASDAQ almost 6%, the proxy index for junk bonds is positive. With all the volatility in equities, I just can’t bring myself to get back into junk in a meaningful way. If I succumb it will be with the Ivy High yield fund. Standing pat with junk lite in bank loan with EIFAX. Besides IOFIX I did buy some DPFNX which I held for a few months last year. It is mischaracterized by Morninstar in the junk bond category.

Sold out of electric utility PNM. (Investor abuse issues coming from the outfit which the company chose to handle stock transactions by remote control, "Computershare.") The proceeds will be split into PTIAX and IOFIX.

I think a global fund makes sense just because I think domestic bonds may be at the starting stage of a bear bond market right now. And given that, I do not plan to hold to much in bond specific mutual funds going forward. I'm holding onto MAINX and debating what to do with my holdings in IOFIX and PONDX. I'd rather put the ballast or safe money into CD's (cash) which has no place to go but up. I do have a couple balanced funds and I intend to use a TRP retirement fund as a core holding. They all have bonds of course.
Income from bonds? Most all my money is in a 401k and IRA, so this idea of income/dividends means nothing to me. Plan to retire this year.
But more to your question, yes I think a global bond fund does make sense since domestic alone has little upside IMHO.

Well, I'm doing it. Unless I'm behind the news, my understanding is that Europe is not pulling back, or pulling back as much as the USA, in terms of greasing the economy in the EU. So in terms of bonds, it's still rather liquid across the pond. My PRSNX is holding up rather well. It's not offering the kind of divs. you can get via the likes of PTIAX or IOFIX. But those two are loaded up with mostly just one "flavor" of bonds. PRSNX is mostly sovereigns and corporates, but with a smattering of other stuff, too. So, it is a genuine mix--- including a slug of US stuff: floating-rate, near-cash or "cash equivalents." I'm still getting over .03 cents per share per month, even in these rocky times. ...And, like you, I've got US bond exposure through my two balanced funds. I'm also still riding PREMX: (EM bonds.) It's not hurting me enough yet to want to pull the plug. I'm quite interested to see what the March monthly div. will be, after the market closes on Thursday. M* puts PRSNX is a "world bond" category. It seems to me that it's too generic a category to be meaningful. MAINX is in there, too--- and doing VERY well lately. But MAINX is restricted to Asia.

For those that follow junkster, as I do, to see what his perspectives is on bonds linked below is his last post, that I can find, on the Morningstar board.
http://socialize.morningstar.com/NewSocialize/ViewPost.aspx?apptype=0&PostID=3914111

A challenging year for many bond funds. Entering today I hold EIFAX, IOFIX, PUTIX, and FMPXX, the later being a Fidelity money market fund. My concern is the divergence with equities which are positive YTD and junk bonds which are negative YTD. I need a 1.90% annual return to pay my living expenses while keeping my nest egg intact. Hence at my age (71 next month) no longer very motivated in still compounding my capital. That could change if there were some type of major reset in stocks and bonds. I am fortunate I can still go on strenuous mountain and/or off trail hikes for up to six hours or longer. But I am not naive and realize that could change in the blink of an eye with some unforeseen health issue. So right now the markets take a back seat to my hiking passions while I am still fit and able. Presently, my main project is working with a ranger at my nearby national park documenting hidden off trail waterfalls. Far more enjoyable than being hyper focused on the wiggles and squiggles of the markets.