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An excellent article. Interesting though, in that while some financial advisors insist that no one should have more than a small number of funds, the M* 401k has quite a few.
Of course that may be a different animal because of the size of the M* 401k.
Ya, unless you're already an Orange Criminal Felon Fart-faced Billionaire via crypto, no one needs 30+ funds. You'd be running your own monstrosity of a Fund, rather than a personal portfolio.
"Interesting though, in that while some financial advisors insist that no one should have more than a small number of funds, the M* 401k has quite a few."
Morningstar's 401(k) lineup includes Vanguard's entire Target Retirement suite. Mr. Kinnel mentioned that the following funds are also available: American Funds Washington Mutual Dodge & Cox International Stock Harbor Capital Appreciation Oakmark Select Vanguard Developed Markets Index Vanguard FTSE Social Index Vanguard Institutional Index Vanguard International Growth DFA International Small Company Primecap Odyssey Aggressive Growth Royce Small-Cap Special Equity Vanguard Selected Value Vanguard Small-Cap Index Wasatch Small Cap Growth American Funds New World Vanguard Emerging Markets Stock Index Invesco Developing Markets Vanguard Short-Term Inflation-Protected Securities Index Pimco Commodity Real Return Strategy Vanguard Real Estate Index Dodge & Cox Global Bond Pimco Total Return T. Rowe Price High Yield Loomis Sayles Bond Vanguard Total Bond Market Index
It does seem that some funds could be removed to streamline the lineup without adverse affects. Here are a few quick examples off the top of my head. Remove either Vanguard FTSE Social Index or Vanguard Institutional Index since both funds are similar. American Funds New World is not a pure-play EM fund — some of its developed market holdings will also be found in the three large-cap international funds available. Remove it. REITs have provided scant diversification for U.S. equities since the turn of the century. Vanguard Real Estate Index is therefore of limited use and can be removed.
in case you were wondering how the 401k was currently allocated:
Fund Value Vanguard Institutional Index $221,250,199 Vanguard Developed Markets Index Instl $83,722,284 Vanguard Total Bond Market Index $71,995,591 Vanguard Small Cap Index Instl $70,044,449 Personal Choice Retirement $67,962,323 Harbor Capital Appreciation $44,636,465 Primecap Odyssey Aggr Growth $36,342,335 Vanguard FTSE Social Index $32,061,017 Vanguard Emrg Mkts Index Adm $30,301,024 Vanguard Selected Value $28,262,985 Washington Mutual Fund R6 $27,567,856 American Funds New World R6 $26,086,153 Dodge & Cox International Stock $25,466,788 Pimco Total Return Fund Cl A $24,645,158 Oakmark Select Investor $21,042,844 Vanguard Intl Growth Admiral $20,605,184 PIMCO Real Return Fund Instl $20,450,560 Vanguard Target Retiremnt 2040 $18,932,495 T. Rowe Price Stable Value Com Trust A $18,533,530 Vanguard Real Estate Inx Instl $17,500,289 Dodge & Cox Global Bond Fund $17,214,377 Royce Special Equity Svc $13,314,096 PIMCO Commodity Real Ret Instl $11,423,605 Vanguard Target Retiremnt 2050 $11,124,375 Vanguard Fed Money Market Fund $9,010,788 T Rowe Price High Yield $7,981,306 Vanguard Target Retiremnt 2060 $7,417,153 Loomis Sayles Bond Fund $7,338,851 Wasatch Small Cap Growth Fund $6,467,915 Vanguard Target Retiremnt 2030 $5,930,256 Invesco Developing Markets R5 $4,460,437 DFA International Small Company $4,349,683 Vanguard Target Retiremnt 2045 $1,642,105 Vanguard Target Retmt Income $1,235,913 Personal Choice Retirement 2 $1,169,885 Vanguard Target Retiremnt 2035 $806,421 Vanguard Target Retiremnt 2020 $610,899 Vanguard Target Retiremnt 2055 $169,980 Vanguard Target Retiremnt 2070 $47,081 Vanguard Target Retiremnt 2065 $29,131 Vanguard Target Retiremnt 2025 $15,360 * Cash Cash $3,235
To force typewriter-like WYSIWYG formatting, surround the text with <PRE> and </PRE>. Then whitespace won't collapse and tabs will be treated as tabs. The only trick needed is to get the right number of tabs (or whitespaces) in each spot so things space out correctly.
The <CODE> tag you tried doesn't respect whitespace, i.e. sequential whitespace is still collapsed into a single whitespace as in the default rendering of HTML. And your attempt to space the display, while it looks great in the editor, comes out differently with monospace ("typwriter") font.
In the end, the data is more important than the presentation. (Thank you for the numbers.) With basically just a fund name and a dollar amount on each line, the table was already readable.
Fund Value Vanguard Institutional Index $221,250,199 Vanguard Developed Markets Index Instl $83,722,284 Vanguard Total Bond Market Index $71,995,591 Vanguard Small Cap Index Instl $70,044,449 Personal Choice Retirement $67,962,323 Harbor Capital Appreciation $44,636,465 Primecap Odyssey Aggr Growth $36,342,335 Vanguard FTSE Social Index $32,061,017 Vanguard Emrg Mkts Index Adm $30,301,024 Vanguard Selected Value $28,262,985 Washington Mutual Fund R6 $27,567,856 American Funds New World R6 $26,086,153 Dodge & Cox International Stock $25,466,788 Pimco Total Return Fund Cl A $24,645,158 Oakmark Select Investor $21,042,844 Vanguard Intl Growth Admiral $20,605,184 PIMCO Real Return Fund Instl $20,450,560 Vanguard Target Retiremnt 2040 $18,932,495 T. Rowe Price Stable Value Com Trust A $18,533,530 Vanguard Real Estate Inx Instl $17,500,289 Dodge & Cox Global Bond Fund $17,214,377 Royce Special Equity Svc $13,314,096 PIMCO Commodity Real Ret Instl $11,423,605 Vanguard Target Retiremnt 2050 $11,124,375 Vanguard Fed Money Market Fund $9,010,788 T Rowe Price High Yield $7,981,306 Vanguard Target Retiremnt 2060 $7,417,153 Loomis Sayles Bond Fund $7,338,851 Wasatch Small Cap Growth Fund $6,467,915 Vanguard Target Retiremnt 2030 $5,930,256 Invesco Developing Markets R5 $4,460,437 DFA International Small Company $4,349,683 Vanguard Target Retiremnt 2045 $1,642,105 Vanguard Target Retmt Income $1,235,913 Personal Choice Retirement 2 $1,169,885 Vanguard Target Retiremnt 2035 $806,421 Vanguard Target Retiremnt 2020 $610,899 Vanguard Target Retiremnt 2055 $169,980 Vanguard Target Retiremnt 2070 $47,081 Vanguard Target Retiremnt 2065 $29,131 Vanguard Target Retiremnt 2025 $15,360 * Cash Cash $3,235
Comments
Of course that may be a different animal because of the size of the M* 401k.
should have more than a small number of funds, the M* 401k has quite a few."
Morningstar's 401(k) lineup includes Vanguard's entire Target Retirement suite.
Mr. Kinnel mentioned that the following funds are also available:
American Funds Washington Mutual
Dodge & Cox International Stock
Harbor Capital Appreciation
Oakmark Select
Vanguard Developed Markets Index
Vanguard FTSE Social Index
Vanguard Institutional Index
Vanguard International Growth
DFA International Small Company
Primecap Odyssey Aggressive Growth
Royce Small-Cap Special Equity
Vanguard Selected Value
Vanguard Small-Cap Index
Wasatch Small Cap Growth
American Funds New World
Vanguard Emerging Markets Stock Index
Invesco Developing Markets
Vanguard Short-Term Inflation-Protected Securities Index
Pimco Commodity Real Return Strategy
Vanguard Real Estate Index
Dodge & Cox Global Bond
Pimco Total Return
T. Rowe Price High Yield
Loomis Sayles Bond
Vanguard Total Bond Market Index
It does seem that some funds could be removed to streamline the lineup without adverse affects.
Here are a few quick examples off the top of my head.
Remove either Vanguard FTSE Social Index or Vanguard Institutional Index since both funds are similar.
American Funds New World is not a pure-play EM fund — some of its developed market holdings
will also be found in the three large-cap international funds available. Remove it.
REITs have provided scant diversification for U.S. equities since the turn of the century.
Vanguard Real Estate Index is therefore of limited use and can be removed.
in case you were wondering how the 401k was currently allocated:Fund Value
Vanguard Institutional Index $221,250,199
Vanguard Developed Markets Index Instl $83,722,284
Vanguard Total Bond Market Index $71,995,591
Vanguard Small Cap Index Instl $70,044,449
Personal Choice Retirement $67,962,323
Harbor Capital Appreciation $44,636,465
Primecap Odyssey Aggr Growth $36,342,335
Vanguard FTSE Social Index $32,061,017
Vanguard Emrg Mkts Index Adm $30,301,024
Vanguard Selected Value $28,262,985
Washington Mutual Fund R6 $27,567,856
American Funds New World R6 $26,086,153
Dodge & Cox International Stock $25,466,788
Pimco Total Return Fund Cl A $24,645,158
Oakmark Select Investor $21,042,844
Vanguard Intl Growth Admiral $20,605,184
PIMCO Real Return Fund Instl $20,450,560
Vanguard Target Retiremnt 2040 $18,932,495
T. Rowe Price Stable Value Com Trust A $18,533,530
Vanguard Real Estate Inx Instl $17,500,289
Dodge & Cox Global Bond Fund $17,214,377
Royce Special Equity Svc $13,314,096
PIMCO Commodity Real Ret Instl $11,423,605
Vanguard Target Retiremnt 2050 $11,124,375
Vanguard Fed Money Market Fund $9,010,788
T Rowe Price High Yield $7,981,306
Vanguard Target Retiremnt 2060 $7,417,153
Loomis Sayles Bond Fund $7,338,851
Wasatch Small Cap Growth Fund $6,467,915
Vanguard Target Retiremnt 2030 $5,930,256
Invesco Developing Markets R5 $4,460,437
DFA International Small Company $4,349,683
Vanguard Target Retiremnt 2045 $1,642,105
Vanguard Target Retmt Income $1,235,913
Personal Choice Retirement 2 $1,169,885
Vanguard Target Retiremnt 2035 $806,421
Vanguard Target Retiremnt 2020 $610,899
Vanguard Target Retiremnt 2055 $169,980
Vanguard Target Retiremnt 2070 $47,081
Vanguard Target Retiremnt 2065 $29,131
Vanguard Target Retiremnt 2025 $15,360
* Cash Cash $3,235
The <CODE> tag you tried doesn't respect whitespace, i.e. sequential whitespace is still collapsed into a single whitespace as in the default rendering of HTML. And your attempt to space the display, while it looks great in the editor, comes out differently with monospace ("typwriter") font.
In the end, the data is more important than the presentation. (Thank you for the numbers.) With basically just a fund name and a dollar amount on each line, the table was already readable.