(https://seekingalpha.com/article/4629757-how-do-t-bills-bil-stack-vs-other-asset-classes?mailingid=32449091&messageid=2850&serial=32449091.7608)
See below several excerpts.
How Do T-Bills And BIL Stack Vs. Other Asset Classes?
Aug. 19, 2023 5:31 AM ETSPDR® Bloomberg 1-3 Month T-Bill ETF (BIL)2 Comments
Juan de la Hoz
Summary
Higher Fed rates have led to higher rates on most bonds and fixed-income securities.
T-bills have benefited more than most and currently yield +5.4%.
An analysis and peer comparison of t-bills follows.
In my opinion, the overall risk-return profile of t-bills is currently quite attractive, due to their above-average yields and extremely low level of risk. As such, t-bills are fantastic investment opportunities, and particularly well-suited for more risk-averse investors. Investors seeking higher yields might prefer riskier, higher-yielding securities, while more dovish investors might prefer longer-term securities, to lock-in their yields.
I'll be focusing on the SPDR Bloomberg 1-3 Month T-Bill ETF (NYSEARCA:BIL) for this article, but everything here should apply to most other t-bill funds, and to the securities themselves.
BIL invests in t-bills, which are securities issued by the U.S. Federal Government, the strongest, most credit-worthy institution in the world. Credit risk is effectively nil, as are default rates, barring an unprecedented U.S. default. Due to this, BIL should see negligible losses during downturns and recessions, outperforming high-yield bonds and senior loans. On the other hand, the fund lacks the flight-to-quality effect of treasuries, especially longer-term treasuries, and so should underperform these securities during recessions.
BIL invests in t-bills, securities with very low maturities, duration, and interest rate risk / exposure. All of these are significantly lower than average, lower than most other bond sub-asset classes, but roughly comparable to senior loans.
Conclusion
T-bills currently offer investors above-average yields, very low overall risk, and a very strong overall risk-return profile. As such, and in my opinion, t-bills are fantastic investment opportunities, and particularly well-suited for more risk-averse investors.

Fido’s (available) portfolio screener seems to sound a “concentration” warning somewhere north of 5% (for a given stock). Prefer to stay out of this one. Curious what others think or what they’ve been comfortable with in the past.
Individual stocks (not funds).
Your % number? ___ Reason / past experience?
Note: Warren Buffet would likely get flagged by Fido’s analytics with around 40% of his stock portfolio in AAPL.

"4cbe8441-9fdb-4aac-91f7-f82e0b589036(1).png"
That's not even a link.
.png is a graphics format file.

+1.
I notice a lot of the same stuff. I was glad to buy a new vehicle, however, when we got here. Peace of mind, for a few years, anyhow. Yes, there are recalls all the time. We took ours into the dealer and the work was done for free. With our down-payment and a discount through a nephew who works at the place, we did good. Payments under $280/month at 1.99%. Nissan Sentra.
4cbe8441-9fdb-4aac-91f7-f82e0b589036(1).png
(That stupid link does not work. Copy a file and try to share it? A major stupid undertaking I'm unwilling to spend time on.)
I notice the daily take-out here everywhere I turn. Crazy fancy nails, too. Etc. Etc.

https://www.sec.gov/Archives/edgar/data/1480207/000119312523215984/d505325d497.htm
DoubleLine Multi-Asset Growth Fund
DoubleLine Funds Trust (the “Trust”)
DoubleLine Multi-Asset Growth Fund (the “Fund”)
Supplement dated August 18, 2023 to the Fund’s Summary Prospectus (the “Summary Prospectus”), Prospectus (the “Prospectus”) and Statement of Additional Information (the “SAI”), each dated August 1, 2023
This supplement provides new and additional information beyond that contained in the Summary Prospectus, Prospectus and SAI and should be read in conjunction with the Summary Prospectus, Prospectus and SAI.
The Board of Trustees of DoubleLine Funds Trust has approved a plan of liquidation for the Fund. The liquidation of the Fund is expected to take place on or about October 31, 2023 (the “Liquidation Date”). Effective after the close of business on September 1, 2023, the Fund’s shares will no longer be available for purchase by new investors or existing investors (other than qualified plans). Dividend reinvestments (where applicable) will continue until the Liquidation Date.
The proceeds per share to be distributed to each shareholder of record on the Liquidation Date will be the net asset value per share of the relevant class of shares of the Fund less any required tax withholdings, after all expenses and liabilities of the Fund have been paid or otherwise provided for. For U.S. federal income tax purposes, the receipt of liquidation proceeds will generally be treated as a taxable event and may result in a gain or loss. At any time prior to the Liquidation Date, shareholders of the Fund may redeem or, subject to investment minimums and other applicable restrictions on exchanges, exchange their shares of the Fund for shares of the appropriate class of another DoubleLine fund (if available) pursuant to the procedures set forth under “Other Account Policies—Exchange Privilege” in the Prospectus.
In anticipation of the liquidation of the Fund, DoubleLine Capital LP, the Fund’s investment adviser, may manage the Fund in a manner intended to facilitate its orderly liquidation and the Fund’s portfolio may be reduced to cash, cash equivalents or other short-term investments on or prior to the Liquidation Date. As a result, during this time, all or a portion of the Fund may not be invested in a manner consistent with the Fund’s stated investment strategies, which may prevent the Fund from achieving its investment objective.
The sale of portfolio holdings will result in the Fund realizing gains or losses, and the proceeds payable to shareholders will generally be subject to federal (and state or local, if applicable) income taxes if the redeemed shares are held in a taxable account and the proceeds exceed your adjusted basis in the shares redeemed. The Fund may also make a distribution of undistributed net income or capital gains prior to the Liquidation Date.
If the redeemed shares are held in a qualified retirement account, your account may not be subject to tax withholdings if you take certain actions. For example, if you hold your shares in an individual retirement account (an “IRA”), you have 60 days from the date you receive your proceeds to reinvest or “roll over” your proceeds into another IRA to maintain their tax-deferred status and avoid any required tax withholdings. You must notify the Fund’s
transfer agent at 877-DLine11 (877-354-6311) prior to the Liquidation Date of your intent to roll over your IRA account to avoid the automatic deduction of tax withholdings from your proceeds. If you do not notify the Fund’s transfer agent of your intent to roll over your IRA account prior to the Liquidation Date, the Internal Revenue Service requires that U.S. federal income tax of 10% be withheld from your account proceeds, and your account may also be subject to state or local required withholdings. You should consult with your tax advisor on the consequences of the redemption to you and any actions you may need to take.
Please contact DoubleLine Funds Trust at 877-DLine11 with any requests for additional information.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
-2-
==================================================================
https://www.sec.gov/Archives/edgar/data/1480207/000119312523215986/d514005d497.htm
DoubleLine Real Estate and Income Fund
497 1 d514005d497.htm 497
DoubleLine Funds Trust (the “Trust”)
DoubleLine Real Estate and Income Fund (the “Fund”)
Supplement dated August 18, 2023 to the Fund’s Summary Prospectus (the “Summary Prospectus”), Prospectus (the “Prospectus”) and Statement of Additional Information (the “SAI”), each dated August 1, 2023
This supplement provides new and additional information beyond that contained in the Summary Prospectus, Prospectus and SAI and should be read in conjunction with the Summary Prospectus, Prospectus and SAI.
The Board of Trustees of DoubleLine Funds Trust has approved a plan of liquidation for the Fund. The liquidation of the Fund is expected to take place on or about October 31, 2023 (the “Liquidation Date”). Effective after the close of business on September 1, 2023, the Fund’s shares will no longer be available for purchase by new investors or existing investors (other than qualified plans). Dividend reinvestments (where applicable) will continue until the Liquidation Date.
The proceeds per share to be distributed to each shareholder of record on the Liquidation Date will be the net asset value per share of the relevant class of shares of the Fund less any required tax withholdings, after all expenses and liabilities of the Fund have been paid or otherwise provided for. For U.S. federal income tax purposes, the receipt of liquidation proceeds will generally be treated as a taxable event and may result in a gain or loss. At any time prior to the Liquidation Date, shareholders of the Fund may redeem or, subject to investment minimums and other applicable restrictions on exchanges, exchange their shares of the Fund for shares of the appropriate class of another DoubleLine fund (if available) pursuant to the procedures set forth under “Other Account Policies—Exchange Privilege” in the Prospectus.
In anticipation of the liquidation of the Fund, DoubleLine Alternatives LP, the Fund’s investment adviser, may manage the Fund in a manner intended to facilitate its orderly liquidation and the Fund’s portfolio may be reduced to cash, cash equivalents or other short-term investments on or prior to the Liquidation Date. As a result, during this time, all or a portion of the Fund may not be invested in a manner consistent with the Fund’s stated investment strategies, which may prevent the Fund from achieving its investment objective.
The sale of portfolio holdings will result in the Fund realizing gains or losses, and the proceeds payable to shareholders will generally be subject to federal (and state or local, if applicable) income taxes if the redeemed shares are held in a taxable account and the proceeds exceed your adjusted basis in the shares redeemed. The Fund may also make a distribution of undistributed net income or capital gains prior to the Liquidation Date.
If the redeemed shares are held in a qualified retirement account, your account may not be subject to tax withholdings if you take certain actions. For example, if you hold your shares in an individual retirement account (an “IRA”), you have 60 days from the date you receive your proceeds to reinvest or “roll over” your proceeds into another IRA to maintain their tax-deferred status and avoid any required tax withholdings. You must notify the Fund’s
transfer agent at 877-DLine11 (877-354-6311) prior to the Liquidation Date of your intent to roll over your IRA account to avoid the automatic deduction of tax withholdings from your proceeds. If you do not notify the Fund’s transfer agent of your intent to roll over your IRA account prior to the Liquidation Date, the Internal Revenue Service requires that U.S. federal income tax of 10% be withheld from your account proceeds, and your account may also be subject to state or local required withholdings. You should consult with your tax advisor on the consequences of the redemption to you and any actions you may need to take.
Please contact DoubleLine Funds Trust at 877-DLine11 with any requests for additional information.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
-2-

What bothers me most is seeing people with low wage jobs spend gobs of money on overpriced trucks, cars and even coffee. One of our desk clerks drove a custom painted Ford F-150. Even back then with low interest rates, I cannot imagine how she afforded the payments. She could have gotten to work in a $1000 junker …

Good points. A terrific fella I knew growing up in the 60s held a higher level engineering job at Ford in Dearborn. Smart cookie. Knew his stuff. The most memorable thing I can remember him ever saying to me: “A new vehicle is a terrible investment.” I doubt many would quarrel with that. But it struck me as especially poignant coming from someone in the industry who could well afford to drive anything he wanted.
On the other hand … I do enjoy driving a newer vehicle with all the latest bells & whistles.
:)
The things many don’t consider adequately when contemplating a purchase are the financing costs and insurance costs, which typically increase with car value.

What bothers me most is seeing people with low wage jobs spend gobs of money on overpriced trucks, cars and even coffee.
One of our desk clerks drove a custom painted Ford F-150. Even back then with low interest rates, I cannot imagine how she afforded the payments. She could have gotten to work in a $1000 junker
My other example is eating out daily, or just buying a "latte". $5 a day, five days a week every week is $1300 a year. Won't send your kid to Harvard, but even today is is not small change. This was before tattoos and nail salons, but they are other examples

Nonretirement stuff at TIAA is only for those with retirement accounts that WANT to stick around for consolidation of accounts.
Fer sure, mostly. Though TIAA does have a product or two that some without retirement accounts might want to buy. I've mentioned TREA (one only has to be related to someone with a retirement account, not be a retirement account owner to be eligible).
Another is TIAA's vanilla deferred VA, "Intelligent Variable Annuity", especially if one likes Vanguard funds. Vanguard no longer offers its own VA - it outsourced it to Transamerica. The Transamerica VA has base M&E expenses of 0.27%. The TIAA VA charges 0.35% for $100K-$500K, 0.25% for AUM above that. While that may be initially a bit higher than Transamerica, the kicker is that after 10 years, the wrapper fees drop to 10 basis points.
The TIAA VA offers most of the same Vanguard and DFA portfolios as Transamerica, while also offering a variety of TIAA portfolios (obviously) plus portfolios from Franklin, Janus, PIMCO, T. Rowe Price and others. All are low cost share classes (as opposed to other providers like Fidelity that may offer the same portfolios with higher ERs).
Transamerica VA offerings (see p. 3)
TIAA VA offerings
Fidelity VA offerings (compare PIMCO VIT Real Return 0.77% admin class E/R with TIAA's 0.52% inst class E/R)
Not that these are for most people. Just suggesting that TIAA products are not only for those with existing retirement accounts at TIAA.

You can snack here: https://www.etf.com/etfanalytics/etf-comparison/USFR-vs-TFLO

Nice, though its duration numbers (5.10%, 5.20%) are something else (yield?)

At the page for TFLO they show its duration as -0.02. So yeah, there's a screwup there. M* says 0, or .24 "modified," for the duration. VettaFi says ultra short. And Ishares says .01. Too lazy to see what MFO premium shows.
I do see that TFLO is not fully invested, which might explain the minuscule performance differences.

Observations:
1) USFR have a bit better performance than TFLO for 6-12 months, but for 1-3 months they are really close...according to M* chart.
2) In the last 1-2 months VMFXX lags a bit. Stockchart shows that but it's difficult to know how accurate it is when we look at 0.45-0.49 per month. (https://schrts.co/Vzbmzihk)
3) These are very mild differences that may change after next week.
YBB: In investments, not everything is long-term
FD: love it.

ETF.com duration numbers are NOT correct.
First, for securities that reset weekly, duration should be just 1 week.
Second, even if it calculated duration ignoring the weekly resets, a portfolio of 2-yr FRNs should have duration around 1 year. There is no way one can get 5.15%, 5.20%.

ETFdb indicates that TFLO follows a different index than what is indicated by iShare - this may be a recent change.
etfdb.com and etf.com both have the same wrong index for TFLO: the Markit iBoxx USD Liquid High Yield 0-5 Index.

You can snack here: https://www.etf.com/etfanalytics/etf-comparison/USFR-vs-TFLO

Nice, though its duration numbers (5.10%, 5.20%) are something else (yield?)

Vanguard has an OEF/ETF comparison tool that gives similar performance and tax comparisons to the M* fund compare tool, though it lacks the risk (Sharpe ratio) and portfolio data (turnover, duration, etc.) comparisons of the M* tool.
https://personal.vanguard.com/us/faces/JSP/Funds/Compare/CompareEntryContent.jsp
Fidelity's OEF/ETF screener does a pretty decent job as well. It lacks MAXDD which is found on individual M* fund pages. The only risk ratio it shows is Sharpe ratio; likewise M* pages don't offer other ratios.
Fidelity screener comparison of USFR and TFLO
Fidelity screener results for ultra-ultra-short taxable bond funds/ETFs (0.02 year duration or less)

I noticed that Bank CD offerings at Schwab, are bumping up slightly with more banks offering 5.3% CDs for almost all periods of 1 year or shorter. 18 mo CDs are also bumping up slightly, but not quite to 5.3% yet. Longer than 18 months are not changing much yet.

In investments, not everything is long-term. Some opportunities are just transient. From tipsters, these can be scams. But the FRNs indeed present a good/genuine transient opportunity now - UNTIL the rates start to go down (late-2024? 2025?).
I will be using BOTH FRN auctions and USFR. In fact, I will shift much of ICSH into USFR until the rate outlook changes.
I am STILL comparing the larger WisdomTree USFR (only 4 FRN holdings) with the smaller iShare TFLO (8 FRN holdings + tiny BlackRock m-mkt/cash). Strangely, both have comparable daily trading volumes (power of iShare/BlackRock marketing?). ETFdb indicates that TFLO follows a different index than what is indicated by iShare - this may be a recent change.

Long-term performance of FRN ETFs is meaningless; during much of the ZIRP regime, they had negative spreads but spreads have been positive since mid-2022. FRNs have done well since 2022 because of the ZIRP regime being gone (first the expectations, then actual); the 3-yr or 5-yr views overlook these contemporary factors.
Look at StockCharts from 1/1/22 (I have also added an ultra-ST ICSH); USFR does have a small edge over TFLO (they track different indexes).
https://stockcharts.com/h-perf/ui?s=TFLO&compare=ICSH,USFR&id=p28096591213

@msf, I have been most successful talking with live Fidelity representatives in early morning (before 7 am EST) or after business hours (5 pm). Their secured messaging is slow and appears to be AI generated. My D&C question took over a week to get a canned and useless answer.
Vanguard is getting worse for customer phone support. Being a Flagship client has no value now since they cancel that stuff awhile back. The benefit I found to be useful is 25 free trades per year for each account. I use it to buy (and sell) transaction fee funds. Fund screening for non-Vanguard funds is sparse and they need lots of improvement. Somehow I get the feeling that is intentional so to favor Vanguard funds. However, their PAS clients phone numbers are very responsive.

Per the Wisdom Tree site today. USFR 30 day sec yield 5.30% Distribution yield is 5.35%.This correlates with the dividends I get.