At this time, I just don't see any good reason to hold most highly recommended and highly rated intermediate core/core plus bond funds with their low SEC dividend yield, now usually in the 1 - 2% range. An exception are multisector bond funds like PIMIX and TSIIX, for example, that may eke out total returns greater than their SEC yield.
As a retired and somewhat conservative investor, I have been looking for other low volatility options that may offer more competitive total returns in the current low interest rate environment. I have come across a promising alternative fund like ARBIX (SD = 2.94%), and also two allocation funds along the lines of the former BERIX fund, i.e., before it changed ownership, that usually had a small equity exposure of around 20%. The two funds are FIKFX (SD = 4.13%) and VASIX (SD= 4.72%).
I would appreciate any comments or suggestions for any additional fund options along these lines.