Perhaps M* isnt the only one with reporting issues. Yesterday, after 8:00 pm PST, I updated my spreadsheet using Google Finance. I happened to check Google again a few minutes ago, and look at the discrepancies! I also happened to download the same report from M* yesterday, again after 8:00pm local. Note that yesterday's M* agrees with "today's" Google posting:

Was:	Now:		M*
ABNDX 	12.76	12.76	OK	12.76
AIBAX 	13.53	13.54	Error	13.54
AHITX 	11.11	11.04	Error	11.04
ABALX 	25.96	26.04	Error	26.04
ANCFX 	55.23	55.32	Error	55.32
SMCWX 	49.73	49.35	Error	49.35
CWGIX 	47.01	46.99	Error	46.99
ANEFX 	39.85	39.85	OK	39.85
TAFTX 	17.74	17.73	Error	17.73
AMHIX 	15.46	15.45	Error	15.45
AMCPX 	29.71	29.58	Error	29.58
ACMVX 	17.75	17.74	Error	17.74
TWSMX 	7.58	7.57	Error	7.57
ABHIX 	6.08	6.05	Error	6.05
BUFBX 	14.81	14.87	Error	14.87
PRBLX 	40.92	40.92	OK	40.92
VVPSX 	19.53	19.29	Error	19.29
GABAX 	67.72	67.73	Error	67.73
MAPIX 	15.69	15.62	Error	15.62
LSBRX 	15.42	15.45	Error	15.45
SFGIX 	11.53	11.45	Error	11.45
MFLDX 	16.56	16.43	Error	16.43
GASFX 	31.11	31.01	Error	31.01
ARTGX 	15.89	15.95	Error	15.95
RSIVX 	10.24	10.25	Error	10.25
RPHYX 	9.94	9.95	Error	9.95
WAFMX 	3.24	3.23	Error	3.23
GPROX 	12.82	12.71	Error	12.71
SCHD 	40.01	40.1	Error	40.01

WTF!!

Short term bonds vs Savings/checking accounts for cash..the difference is like 1% and no safety....are they worth it?

Completely agree. Even RPHYX and RSIVX I'm viewing as just any other fund holding. Not exactly a substitute for cash.

@Vert.
It's because of the way they handled ICMYX.
They merged it into ICMUX this past January and touted the reduction in fee.
ICMUX, which only dates back about 4 years, is a Great Owl Fund.
Top quintile performer. Max drawdown only -1.4% (September 2011).
Folks on the board have compared it to David Sherman's conservative funds (RPHYX and RSIVX).
All good right?
Except ICMYX was actually the oldest share class with about 7 years performance.
And, it contained performance for a steady-eddy income fund that would be disconcerting for very conservative investors.
It drew down -14.6% in November 2008.
Here's current performance snap shot from their website:

Note the inception date of Intrepid Income. Performance before August 2010 does not appear, since it was in the different share class.
To their credit, they do show the earlier quarterly performance in the fund's summary prospectus.
But most fund screening tools and performance plotters (eg. M*) will just not pick this up.
As if the poor performance never happened.
I think it's borderline non-disclosure, calling into question the firm's integrity. So, hard for me to recommend.
Maybe this stuff is common practice and I'm being too critical.
Just does not seem right.

Let's not compress everything into one lousy week. For instance, YTD:
WAFMX: +4.8%
RHYPX: +1.8%
RSIVX: +4.2%
GASFX: +10.7%
LSBRX: +4.2%
AMHIX: +13.2%
ACMVX: +4.5%
PRBLX: +2.9%
Figures are from yesterday, for the most part.
Those are some of mine that are doing OK, and yes, I have another whole bunch that aren't.

http://www.riverparkfunds.com/Funds/GargoyleHedgedValue/Performance.aspx
"The performance data quoted for periods prior to April 30, 2012 is that of the Predecessor Fund. The Predecessor Fund commenced operations prior to the periods shown. The Predecessor Fund was not a registered mutual fund and was not subject to the same investment and tax restrictions as the Fund. If it had been, the Predecessor Fund's performance might have been higher. Performance shown for periods less than one year is cumulative; periods of one year and greater are annualized. Inception Date of the Predecessor Fund is 12/31/1999."
They used to have a chart listing every quarterly return back to 1999 (i.e. they were fully transparent and owned-up to all returns, both good/bad) on their website, here:
http://gargoylegroup.com/overview&pid=96
Unfortunately, this site has recently undergone a significant re-do and I can't find the data anymore (albeit, I may be having a senior moment and am missing it).
David had a web conference call with the managers not too long ago, and a caller during Q&A did ask, specifically, about Q4 2008; "my take" on it is based on their rather evasive response. Frankly, I think they at least relaxed their hedges, in Sept 2009, thinking the correction was over (when if fact it had just begun), piled into financials for the juicy dvds, and then got their weenies caught in the wood chipper. In short, they may have "pulled a Bill Miller."
That said, I do think the managers are honest, hardworking guys, and their record prior to that awful call was pretty impressive (and what attracted David S. to it). I shouldn't have come off so snippy. If it does well in the next big downturn, I'd like to make it work in concert with my RSIVX holding, a position I'm currently building ... cautiously. Really.

You know this is the reason I simply don't own bond funds straight. PTTRX is one that I owned, and no more. The only other "bond" funds I own are RPHYX, RSIVX, RNDLX and ARTFX. At least that I know off...
I get very shaken instead of stirred talking about "bond".

Experience has taught me I am not good at market timing. So, I mostly let fund managers do this for me. My major fund holdings with substantial cash positions include FPACX, FPIVX, ICMBX, ARIVX, YAFFX, WEMMX, COBYX, and BERIX. The fund analyzing tool I use tells me my portfolio currently has 18% allocated to cash/near cash, with most of that coming from these holdings. I also have 6 % of my portfolio set aside in funds including RPHYX and MWCRX for use if there is a MAJOR (maybe 35% or more) decline in the stock market. I would be comfortable selling those two holdings with some loss in that situation. So, all told, I have about 25% of my portfolio currently waiting for a better time to invest in more volatile stuff. I also have just over 50% currently invested in the stock market and the remaining 25% in bond funds including OSTIX and RSIVX. The bond funds presently mostly tend towards short term and high yield.

Funds & Strategies I've looked at include:
RNOTX, RNDLX, ARTFX - because we're young and while these might be volatile/riskier thats fine.
OSTIX, EVBAX - why make allocation decisions myself when these guys look like they do it well.
FTBFX - the most convenient low-cost fund for us
RSIVX - stabler ballast, but still with growth
DLTNX - solid core, where our current bond money is.
Pass on them all?

FWIW. FPNIX is something to consider. Better to have fund non-celebrity fund managers I think.
On that note, I've always been bond challenged, but in my 401k I continue to hold some PTTRX. It would seem Bill Gross is officially no longer the bond expert according to recent press. I never thought that would happen. Bill Miller I think has remained the equity expert on the other hand. Time will tell which was the right celebrity call by the financial pron industry.

Funds & Strategies I've looked at include:
RNOTX, RNDLX, ARTFX - because we're young and while these might be volatile/riskier thats fine.
OSTIX, EVBAX - why make allocation decisions myself when these guys look like they do it well.
FTBFX - the most convenient low-cost fund for us
RSIVX - stabler ballast, but still with growth
DLTNX - solid core, where our current bond money is.
Pass on them all?

I would consolidate in the same way AndyJ suggested. I'd choose PIMIX as my moderate risk multisector fund and RSIVX as my 'more' conservative multisector fund. Just don't see the need for all those funds.
Actually, that is exactly what I did - those 2 funds plus a short term (conservative) HY fund. I'm looking at bonds more for protection against equity swings with a little growth if possible down the road. Hopefully choosing good management that can go most anywhere in the bond universe will decide what to be in.

Hi Will, on the "short-term, high quality bond fund with low risk," I'm not a big fan of THOPX either, but don't you already have something like that in the Baird fund? Also, keep in mind that Fed rates have the most influence on the short end of the curve, so short term, higher quality bonds do come with some Fed rate risk.
If you want to go short duration, I'd look for a fund that has some balance of credit and rate risk - RSIVX is in that ballpark - or you could look at DFLEX or maybe a short, high-yield muni fund. Or, maybe look at a multi-sector that barbells credit and rate risk, like PTIAX, or a mild 'non-traditional' fund that can shift rate exposure within a wide range, like say PMZIX.
I think in your situation I'd probably consolidate rather than take on a new fund, concentrating in PIMIX and RSIVX (RSIIX if you can comfortably get your stake up to $100k) and consolidating into just a couple of your several higher quality funds.
The only thing on rates I'm comfortable projecting for myself and my investments is that the Fed is highly likely to raise its key rate a smidgen sometime next year. Nothing else, imho, is sure enough to make a significant bet on.
FWIW, AJ
Edit: forgot to mention GNMA funds, but I see that you asked on M* and Yogi gave you a good answer.

Yes, I was looking at something like SNGVX, which isn't a pure GNMA fund but has higher quality bonds than BSBIX. Also, I'm looking at your suggestions PMZIX and DFLEX. Much appreciated !

Hi Will, on the "short-term, high quality bond fund with low risk," I'm not a big fan of THOPX either, but don't you already have something like that in the Baird fund? Also, keep in mind that Fed rates have the most influence on the short end of the curve, so short term, higher quality bonds do come with some Fed rate risk.
If you want to go short duration, I'd look for a fund that has some balance of credit and rate risk - RSIVX is in that ballpark - or you could look at DFLEX or maybe a short, high-yield muni fund. Or, maybe look at a multi-sector that barbells credit and rate risk, like PTIAX, or a mild 'non-traditional' fund that can shift rate exposure within a wide range, like say PMZIX.
I think in your situation I'd probably consolidate rather than take on a new fund, concentrating in PIMIX and RSIVX (RSIIX if you can comfortably get your stake up to $100k) and consolidating into just a couple of your several higher quality funds.
The only thing on rates I'm comfortable projecting for myself and my investments is that the Fed is highly likely to raise its key rate a smidgen sometime next year. Nothing else, imho, is sure enough to make a significant bet on.
FWIW, AJ
Edit: forgot to mention GNMA funds, but I see that you asked on M* and Yogi gave you a good answer.

This it the current makeup of my bond portfolio, but I think it may be leaning a bit too heavily in the direction of low credit and high yield rather than higher quality bonds. I just want to cover all my bases regardless of rate hikes. Thoughts on consolidation of funds or the absence of higher quality credit bonds? The percentages are approximates. Thanks in advance.
PIMIX (PIMCO Income) - 15%
EVBAX - (Eaton Vance Bond - lw) -15%
DODIX - (Dodge and Cox Income) - 12%
BSBIX (Baird Short-term Bond) - 12%
MWTRX - (Met West Total Return) -10%
MITFX - (BMO Intermediate Tax Free) -8%
RSIVX - (Riverpark Strat Income) 5%
THOPX - (Thompson Bond) - 5%
FPNIX - (FPA New Income) 5%
PRFHX - (TRowe Price Tax Free HY) - 5%
BHYAX - (Blackrock High Yield) - 5%

After listening to the interview, I considered reducing my FAGIX and SPHIX holdings since they represented the majority of my high yield bond funds (my 403b is in Fido); but I checked the graph at M*, where they regained their return slope in about a year after 2008, so I am really conflicted. Therefore, I agree with AndyJ as to from what?
I think I believe in gross market timing (CAPE says the next 10 years will be low return if one buys the broad market at current levels), so it looks like I should let my monthly additions molder in cash.
RSIVX, RPHYX seemed to have flattened out or declined, but FSAHX may have shown a gasp of life. My hopes that I could park my "cash" in short term bond funds are now muted (especially since I have 40 X as much in the first 2 and the latter was positive on
Fri, but it's only one day.)
In my IRA at TDA, EVBAX was relatively costly, as mentioned above, but there were no additional charges. This was a minimum investment to keep me attentive.
I think (hope) there is too much money waiting for an entry point for stocks to drop 30 -60%, and Gaffney's comment about the portion of Treasury debt that the Fed is buying suggests there is a high floor for the short term. I think I'll start adding money at the 10% drop and take the additional hit, if it occurs, and reassess if there is a 10 - 15% gain above the 10% drop. I don't think 2008 was a once in a lifetime event, but I don't think it was a once in a decade event.

Bonds seem like they should be simple, but for some reason my mind turns off when trying to understand them. I get the basics on duration, quality and bond sectors that are more or less volatile. But my decision is to give the money to managers who have demonstrated results and have flexibility to buy the different types of bonds they think best. Unconstrained, multisector, whatever - not even sure the difference there.
So I decided on splitting most of my bond allocation to 2 multisector funds, a somewhat aggressive fund/manager, Ivascyn/PONDX and to what I see as a more conservative multisector fund, Sherman/RSIVX.
As a side note, I chose PONDX over LSBRX because returns have been as good with less volatility. I could of held both but my mandate is to hold a minimal number of funds. But I did hold LSBRX for years and was very happy with Fuss.

I never thought about it bee. Certainly sounds like the new marketing buzz word. Don't forget about one of the new MFO darlings_ RSIVX. I just bought into that one the other day.

M* update on RSIVX portfolio dated 07/31/2014
http://portfolios.morningstar.com/fund/summary?t=RSIVX&region=USA&culture=en-US

Something new from Mr Sherman and the RiverPark folks... A real quarterly discussion / shareholder letter covering RPHYX/RPHIX/RSIVX/RSIIX.
I just found it on their site and thought other holders might be interested... :-)
http://www.riverparkfunds.com/downloads/News/RiverPark-Cohanzick-2Q14-SH-Letter.pdf
It's homed on a new 'Commentary' tab under each funds Overview. http://www.riverparkfunds.com/Funds/Overview.aspx
And they've also started publishing more detail on the fund distributions.
IMHO: A vast improvement to the RiverPark funds site and shareholder communications.

I purchased RSIVX based on the very favorable write-up it got from MFO in January. I'm retired and have placed money in this fund to balance some of my equity holdings. Should I move to a better fund? What conservative income funds would you recommend? [I've been tempted to put some money in FPA New Income]

RPHYX, RSIVX and FPNIX is where my "risky cash" is. So far so good.

As RPHYX nears a 3 year anniversary with almost $900 million in assets, I would have expected to see an expense ratio considerably below 1.17%. That's over $10 million being raked in annually for this fund. I guess the prospects for the RSIVX expense ratio to come down much from the current 1.24% are not too bright. I think that RSIVX is delivering about what I expected - 4.4% YTD with low volatility - but expenses ought to be lower.