In the Event Driven category, HMEZX is most steady, but then you have lower expected returns (typcially 4% to 5% annually).
EVDAX has a much higher SD, but higher overall returns expected.

While the above is true, it missed an important fact. What is better, missing the 10 best days or the 10 best worst days? The answer is the worst days.
Read my link
Conclusions:
1. The stock market historically has gone up about two-thirds of the time.
2. All of the stock market return occurs when the market is already uptrending.
3. The volatility is much higher when the market is declining.
4. Most of the best and worst days occur when the market is already declining because markets are much riskier than models assuming normal distributions predict.
5. The reason markets are more volatile when declining is because investors use a different part of their brain making money than when losing money.
Timing is difficult but not impossible.
* Beating the SP500, especially when you have a large portfolio, is not always the goal. Since 2000, my goal has been to have the best risk/reward performance.
* When US LC doing well, it's usually the best risk/reward category. But, over long time, think 2-3 decades; it's definitely at the top or best. So why do most investors don't use the SP500 as their only stock choice? After all, Bogle and Buffett recommended it for decades.
* After years of tweaking, exploring and trading, I concluded that timing works very well with slower bond OEFs, and not great with higher volatility categories. Read (link).

would be interested in hearing how to construct a search that best approximates this finding over multiple (3,5,10,20 yr) time periods :
"managers with the skill to outperform on the 5% of days with the worst market returns generate about as much unconditional future outperformance as managers with the skill to outperform on the remaining 95% of days"
very short article well-worth reading...
https://klementoninvesting.substack.com/p/want-to-know-if-a-fund-manager-is

AAII Sentiment Survey, 11/27/24
BEARISH became the top sentiment (38.6%, above average) & neutral remained the bottom sentiment (24.3%, below average); bullish became the middle sentiment (37.1%, average); Bull-Bear Spread was -1.5% (below average). Investor concerns: Budget deficit, debt, inflation, the Fed, dollar, geopolitical, Russia-Ukraine (144+ weeks), Israel-Hamas (59+ weeks). For the Survey week (Th-Wed), stocks up, bonds up, oil flat, gold up, dollar down. NYSE %Above 50-dMA 63.77% (positive). PCE +2.3%, core +2.8%. Stock rally remains intact. #AAII #Sentiment #Markets
https://ybbpersonalfinance.proboards.com/post/1750/thread

I recently received the latest Fidelity Viewpoints newsletter.
One of the articles referenced in the newsletter is titled "6 reasons why you should consider investing right now."
According to this article, "a hypothetical investor who missed just the best 5 days in the market since 1988
could have reduced their long-term gains by 37%."
I've read many articles over the years which draw similar conclusions, but still find it amazing
that being out of the market for only a few days has such a detrimental effect on long-term returns.
This is just one reason why I don't try to time the market!
https://www.fidelity.com/learning-center/wealth-management-insights/reasons-to-invest-now

lessons from fishing :
it is assumed that people realize the MF is not updated daily, and the overlap tool shows in order of combined weight, not in order of weight similarity.
that being said, i had to go all the way to ~30 on the list to find a stock not in both.
up to that point, the weight difference looked to be usually ~0.5%.
when you consider the NAV is ~30X different (w/ similar median mkt caps), and has the same managers, i stand by my view that these equity sleeves are pretty much being run the same. differences in weights are probably just timing and reporting lags.
and just to be very clear, these different vehicles w/giroux serve to provide a loose commitment to different levels of asset exposure, not explicitly to vary in how that asset is expressed.

Their MMF competitors would be Treasury MMFs, both for security quality (Treasuries backed by the US government) and IMHO more importantly, for state income tax exemption.
If you can't find a very cheap Treasury only MMF (e.g. no low min cheap funds at Schwab or at Fidelity), then a 0-3 month Treasury ETF can fill that gap. While costs do matter, if I owned SGOV (0.09% ER), I don't think I would jump ship for Vanguard's new shorter term ETF (0.07% ER).
If I were still investing at Vanguard, I would carefully consider whether the added limited volatility of an ETF were worth at best a small increase in return over VUSXX.
Going longer, with Treasuries maturing in up to a full year, theory says one will get better returns in exchange for added volatility. I still buy that theory in the face of data that contradicts that - giving a whole new meaning to faith-based investing :-)
See Portfolio Visualizer comparing iShares (SHV), Invesco (TBLL), and Goldman Sachs (GBIL) with 3 mo Treasuries (proxy for cash). At least it does show that the cheapest ETF (TBILL, 0.08% ER) comes out best in this space where costs really should be paramount.
PV comparison
Something to keep in mind is whether the Vanguard ETFs will be 100% invested in Treasuries. You don't get a tax break for repurchase agreements (see, e.g. FZFXX). While VUSXX is now about 98% Treasuries, a couple of years ago it dipped as low as 50%+ (from memory). Previously it had always held 100% in Treasuries and suddenly changed. In light of that, it remains to be seen what percentage of these ETFs are really invested in true Treasuries.

Thank you, Joe. I tried to place the trade and 25161FZX9 is no longer available at Schwab (was never available at Fido).

I bought today when the dealers were selling them in the secondary market. Transaction fees applies. Schwab quote includes the transaction fees.
Not yet available at Fidelity

https://www.sec.gov/ix?doc=/Archives/edgar/data/2035827/000110465924120578/tm2422492d3_n1aa.htm
Summary prospectus:
https://www.sec.gov/Archives/edgar/data/2035827/000110465924123184/a24-22492_6497k.htm

Fund Allocations (Cumulative), 10/31/24
Small reductions in stocks. The changes for OEFs + ETFs were based on a total AUM of about $38.42 trillion in the previous month, so +/- 1% change was about +/- $384.2 billion. Also note that these changes were from both fund inflows/outflows & price changes. #ICI #Funds #OEFs #ETFs
OEFs: Stocks 53.07%, Hybrids 5.76%, Bonds 17.95%, M-Mkt 23.23%
ETFs: Stocks 82.05%, Hybrids 0.40%, Bonds 17.55%, M-Mkt N/A
OEFs & ETFs: Stocks 61.62%, Hybrids 4.36%, Bonds 17.84%, M-Mkt 17.17%
https://ybbpersonalfinance.proboards.com/post/1749/thread

Thank you, Joe. I tried to place the trade and 25161FZX9 is no longer available at Schwab (was never available at Fido).

Yesterday's post -"3130B3W82 - Inventory at Fidelity and not at Schwab."
Today, I bought more of and whatever was left of this new issue. Currently, at Fidelity the highest yield of new issue Agencies maturing in 2034 is 5.5% (only one issue). If you would like a higher yield from a new issue Agency, you have to go to 2044 maturity.
I am inclined to wait until after Thanksgiving for more new issue Agency offerings.

As the US exchanges haven't decided on this yet, the likely 24/5 trading is by using foreign exchanges or private trading involving willing market-makers, hedge-funds, and firms' inventories.

Yeah, that's kind of what I'm thinking. Or Schwab's own dark pools ... whatever, should be interesting.

As the US exchanges haven't decided on this yet, the likely 24/5 trading is by using foreign exchanges or private trading involving willing market-makers, hedge-funds, and firms' inventories.

Today in ThinkDesktop I see certain stocks now showing a beige icon indicating it's available for 24x5 trading. Not sure how they're picking them since only INTC and EXC are showing it on my watchlist, while other 'big' US names are not. Guess it's a slow roll-out..... I'll try to see what their bid/ask is like during the late local news sometime .... or maybe on the way back from the bathroom at 3AM if I remember and am so inclined. :)

Laid on a zero-cost (actually a .17 credit) at the open for a Feb 25 collar on my WMB position that's got 75% gains since January.

A quick search of their site does not show these ETFs are out yet.
I am interested in the Hedge Equity ETF so I can move PHEFX out of my IRA.
Edit: The draft prospectus is dated Jan 17, 2025

Just posted all ratings and flows to MFO Premium site, using Refinitiv data drop from Friday, 22 November, reflecting risk and return metrics thru October and month-to-date (MTD) thru yesterday. Flows are through Friday, 15 November.

Summary prospectus:
https://www.sec.gov/Archives/edgar/data/1593547/000139834424020614/fp0090912-10_497k.htm

If you want to make more, forget about words like "safe" "investment grade" "risk" "in the past it did terrible". Success comes from an uptrend with lower volatility (in my case)...and good trading.
If you want to be safe with low risk and hold for years, you will miss opportunities. What I find funny that my so-called risky funds had lower volatility and great returns. Nothing is guaranteed, of course. Just compare DODIX to CLOZ
See one year return for the above 5 funds (https://schrts.co/PJYGjPTK)