Look at who are predicting 6500 - 4 of 5 largest market participating banks. That is 6.5% from here. Probably easier to make that much with reasonably comfortable bond funds.
David Giroux’s 5300 is a 14% drop from here. So many members of this forum are invested heavily with David.
Thanks @bee and @stillers.
@bee, @stillers, @WABAC, @rforno, . . .
By how much are you reducing or have you reduced your equity allocation from the 2024 peak level?

I can't give you hard numbers, but somewhere around 75% equity/25% cash to begin with in the IRA.
I am now down to around 42% equity, 47% bonds, and 10% short-term (per Fido's dashboard) out of which cash is about 3%. I couldn't tell you how Fido makes that determination. They do show an M* style box that says I'm 84% short. For some reason USFR doesn't fit into the style box, and isn't qualified as cash, or other, so ¯\_(ツ)_/¯ .
The current allocation has to do with the ongoing process of "simplifying" my IRA and not finding much to buy in the equity market these days.
If there are buying opportunities in the next couple of years I wouldn't mind going to 50 to 60% equity. Who knows? Maybe Mr Market will carry me there on his back.
The taxable is sui generis, so I won't go into it here.

”David Giroux’s 5300 is a 14% drop from here. So many members of this forum are invested heavily with David.”

It Giroux is right, I’d expect he’ll be on the cover of Barron’s shortly thereafter.
If he misses by 25% …. ? ? ?
Fame is a fickle food
Upon a shifting plate
Whose table once a
Guest but not
The second time is set.
Whose crumbs the crows inspect
And with ironic caw
Flap past it to the Farmer's Corn –
Men eat of it and die.
- Emily Dickenson

Look at who are predicting 6500 - 4 of 5 largest market participating banks. That is 6.5% from here. Probably easier to make that much with reasonably comfortable bond funds.
David Giroux’s 5300 is a 14% drop from here. So many members of this forum are invested heavily with David.
Thanks @bee and @stillers.
@bee, @stillers, @WABAC, @rforno, . . .
By how much are you reducing or have you reduced your equity allocation from the 2024 peak level?

Thanks for all the comments. I’ve edited the thread’s caption slightly since I am no longer considering the Manning & Napier fund that prompted my inquiry.
Regarding my other comments in the thread -
There were a couple different spec plays I took on between late December and around mid-January. The first wager on FLO & NSRGY failed (again) and I lost a little. That money was applied to a second larger spec play - a basket of CEFs - which paid off quite well as I accumulated (ultimately 4) CEFs just as the 10-year Treasury neared 4.8%, rode the 10-year down to around 4.54% and then bailed out (8-10 days later) before rates again spiked. As I’d posted earlier in the B/S thread, falling rates help leveraged CEFs. All-in-all the spec plays (+ - 15% of portfolio) over a roughly 20 day period netted a small 5-7% gain. In the end, I ended up with 0 spec plays and a new long-term slug of money in GAA - a conservative fund not considered “speculative.”
How this all relates to EXDAX? It was one of several “homes” being considered in late December for the spec money that was then in play.
@FD1000 - I did not respond to your bond fund suggestion because the OP referenced a 20/80 type of fund and was intended to pertain primarily to M&N’s management team & reported management turnover.

$2500 for one hour for your time...(offer ends soon)
Anytime I try and do something in a hurry it ends up backfiring - sometimes badly. They say haste makes waste.
Good one @Old_Joe! But “an hour”? More like 3 minutes.

A very quick look shows that
VIX(SP500 SD) < 15
MOVE(treasury SD)=87=low
SP500 is in an uptrend.
I don't need to check beyond that.
My big picture = "normal" market = I'm invested at 99+% for several months now.

but you're invested 99+% in bonds, not the SP500, and in "special" bonds that don't move the way most bond funds move, so your so-called big picture has no real relevancy, as per usual, to your own personal big picture, more or less, give or take.

I have been saying the following over 15 years in all the sites I post.
All my posts are generic, without any connection to what and how I invest, unless I specially discuss my system.
The big picture is another generic comment.
I make comments on CEFs and never owned them more than short term.
I posted for years about retirement, LTC, when to take SS when I was younger.
Is your view that you can only have an opinion based on what you own or do?
So, what would I do specifically with my portfolio? I would be invested at 99% regardless if I have stocks or bonds. I have used stocks for decades.
You can disregard all my opinions but why trash it based on no real data.

YBB, I think the OP wants them at Fido and VG. I no longer buy any bonds at Schwab. I just own bunch of USFR - I get that 15 bps is nothing to sneeze about and one does not have to worry about cap gain distributions from USFR. Your breakevens calc is helpful to readers. Said differently, one can save $3,000 over the two year period buying FRNs instead of USFR.
Please elaborate on the spread you mentioned.

Just posted all ratings to MFO Premium site, using Refinitiv data drop from Friday, 25 January 2025, reflecting risk and return metrics thru December. Flows remain posted through Friday, 17 January.

@BaluBalu, but due to weekly reset feature to 3m T-Bills, FRN duration is 1 week (not 2 years). Buying FRNs at auction at Schwab would be commission-free, so 15 bps in ER for USFR would be saved. The other thing is the (small) spread that is fixed at auction - I haven't been tracking those.

FRNs can be bought only through an agent, not online.

@yogibb, thank you. I suspect that is the case. Wonder why?
I am already using USFR, but wanting to save 0.15% fees. Next auction is at end of February 20205.

"$2500 for one hour for your time..."
When I saw that I thought that it was just another episode of Trump and some bimbo. Wells Fargo and Trump share a lot of perspectives, so I wasn't completely wrong.

A very quick look shows that
VIX(SP500 SD) < 15
MOVE(treasury SD)=87=low
SP500 is in an uptrend.
I don't need to check beyond that.
My big picture = "normal" market = I'm invested at 99+% for several months now.

but you're invested 99+% in bonds, not the SP500, and in "special" bonds that don't move the way most bond funds move, so you're so-called big picture has no real relevancy, as per usual, to your own personal big picture, more or less, give or take.

Cut the guy some slack - he has an almost 97% success rate predicting the past..

Fido charges $19.95 for buying Treasuries through agents. FRNs can be bought only through an agent, not online.
FRN USFR has 15 bps ER.
Breakeven is 100*19.95/0.15 = $13,300.
So, buying in amounts larger than $13.3K via Fido agent is worthwhile. Below that, buy USFR.

$250K is a lot of money to lock up for 90 days. Several options to consider:
1. 3 months T bill, expected yield 4.273% at Fidelity. No $ limit.
2. money market funds yield 3.95-4.2%. No $ limit and holding period.

So, that 1% bonus is all you get over 90 days holding period. The interest rate of 0.01% applies on deposit. Or, just keep the money in a m-mkt fund.
"Bring $250,000 or more in new deposits to qualifying linked accounts by Day 45 and maintain at least a $250,000 balance through Day 90 after account upgrade or opening.
.....
Interest on the Premier Checking account is compounded daily and paid monthly. The amount of interest earned is based on the daily collected balances in the account. The following Annual Percentage Yield (APY) is accurate as of October 25, 2024. The account pays an APY of 0.01% if the balance is $0 or more. Rates are variable and subject to change without notice. Fees could reduce earnings on this account."
https://accountoffers.wellsfargo.com/premierbonus/

I received an offer unsolicited on my part (I am a longtime Wells retail client). I 'googled' it for my s/o, and 'voila' it seems to be an 'open to the public, but not advertised' bonus offer.
Google "Wells fargo premier checking bonus"
The 'hour' is that you have to go into a physical branch location to sign their paperwork.
Just thought I'd share. Its pretty generous relative to the amount of qualifying assets. Most money I've ever made in one hour.

The Week in Charts (01/24/25)
The most important charts and themes in markets and investing, including:
00:00 Intro
00:57 Topics
01:48 More All-Time Highs
05:41 The Biggest Headwind for Stocks
10:04 Fewer Economists Expecting Recession
11:41 The Hidden Costs of Housing Inflation
16:12 The Big 3 Are Dominating Retail
17:37 Big Banks, Big Profits
19:12 Another Record Year for Netflix
22:51 Self-Driving Technology
Video
Blog

A very quick look shows that
VIX(SP500 SD) < 15
MOVE(treasury SD)=87=low
SP500 is in an uptrend.
I don't need to check beyond that.
My big picture = "normal" market = I'm invested at 99+% for several months now.

but you're invested 99+% in bonds, not the SP500, and in "special" bonds that don't move the way most bond funds move, so your so-called big picture has no real relevancy, as per usual, to your own personal big picture, more or less, give or take.

Jan 25th Episode:

Strategas’ Chief Investment Strategist, Jason Trennert has a long track record of calling major investment themes. He shares his predictions for 2025.

ICMUX is in 1% percentile rank for 1,3 and probably 5 year. What are they getting right that Vanguard with tens of Billions in bond management gets 0% over 10 years?
How the Largest Bond Funds Did in 2024
https://www.morningstar.com/bonds/how-largest-bond-funds-did-2024