That's good - to show totals for the oldest asset class. But expand the note at the bottom to indicate this.
Looking at DODGX, it seems that the main display has total flows and total assets (checks with total $109.1 billion at M*; Fido has class AUM $65.3 billion)). But the bar chart below seems to show only the class flows. If intentional, this also should be noted.
BTW, many mutual fund outflows are simply to their CIT version/clone in workplace retirement plans. That also distorts the fund flows. I asked M* about it once and its response was that its database had only some CITs, so it couldn't indicate those flows for sure. Does Refinitiv have good data on CITs?

@BaluBalu,
I could see over the next several years stepping into VELIX to be 10%-15% of the portfolio...I'm likely a couple years away from stepping away from the corporate work environment...who knows, still enjoying most days what I do...and am therefore in that danger zone, within 5 years of retirement (whatever that means, right?) and post 5 years retirement...I'm very very high in cash equiv's, like over 90%...works for me, wouldn't recommend it for most but I should be transparent and state my wife and I were in the highest tax bracket for quite a few years...so what we left on the table with the uptick in markets we overcame slippage of inflation with salary/bonus/stock options etc...fully acknowledge that I've been actually taking on risk by being too conservative but on days like this, I'm going for a bike ride this evening and not overly concerned about what the markets are doing...back in my younger days, in the 20's and 30's, was uber aggressive in the stock market...not anymore...
Kind Regards,
BF

It sounds like you're in good shape - drawing modest spending cash from T-IRAs annually and owning no or little tax on those draws. From that perspective, conversions may indeed be just an added complication.
I've spoken with enough people who prefer simplicity, so take the following nudge toward conversions as just a suggestion, perhaps not worth the effort as you say.
I expect that the RMDs will have to be bigger than the amount I'm currently taking each year in January, but I'm confident we'll still owe no 1040 tax.
Roth conversions now can reduce the size of those RMDs and keep more of the money tax-sheltered for longer. This may not matter to you since you don't expect to owe taxes either way.
But if you're thinking of leaving a legacy, it could matter to your heirs. They'll owe taxes on an inherited T-IRA as they withdraw money. They won't owe taxes on inherited taxable accounts (they get a step-up in basis), but all future earnings will be taxable to them. They won't owe taxes on inherited Roths and the money can continue growing tax free for up to ten years. Even longer for a spouse who inherits.
Each person's situation is different. The amount of money you might convert could be small enough that it's just not worth the hassle. In my case, some of my beneficiaries are nonresident aliens living where there is no tax treaty. They will be subject to 30% withholding. So I'm doing conversions over many years to reduce my T-IRAs.
Finally, the good news - you get another year (until age 73) before RMDs kick in.

@msf. @catch22
Hello, guys. For several years after retirement, wifey's salary served to fund my T-IRA. We just chose to throw the $$$ into my IRA instead of hers. Mine is much more substantial. Then some life changes made funding ANY T-IRA impractical. Her IRA lives, and so does my own. Under current circumstances, converting to a Roth just seems like a needless complication. We grow the taxable side now, and I'm in the habit of taking X amount from my T-IRA in January each year. We owe no 1040 tax. When I get to age 72 in a couple of years, I'll continue with the same habit, taking out my RMD in January and I'll just redeploy the money, investing it on the taxable side. I expect that the RMDs will have to be bigger than the amount I'm currently taking each year in January, but I'm confident we'll still owe no 1040 tax.
When all our stuff (except her small T-IRA) was with TRP, we were limited to just their own funds. After switching everything to Schwab, the field is wide open. But I'm rather pleased, still, with my TRP selections, plus the Weitz fund that her T-IRA is in. So, no changes are expected or needed, until junk bonds turn South. Then that money will need a new home. I'm always looking for new prospects, and have some in mind, as needed. Our tax bracket will not be going UP, even after RMDs kick-in at 72. (Two more years.)
Your responses are much appreciated. The people on this MFO discussion board actually care. I do thank you.

Concentration by itself doesn't work. I have been using concentration + momentum + best risk/reward funds + being in the right wide-range categories.
Since I started in 1995, there have been three long term cycles
1995-2000 + 2010-2020 = US Large cap tilting growth
2000-2010 = US Value, some small cap and some international
BTW, I changed the number of funds from 5 (2000-2018) to only 2-3 since retirement in 2018 because I can only find very limited great ideas.
You can read how I did it (here).

@Crash, that RMD amount calculation for younger spouse applies to T-IRAs and 401k/403b. There are several RMD calculators; the sponsor or the plan may provide calculations.:
https://www.aarp.org/retirement/required-minimum-distribution-calculator/
https://www.voya.com/tool/rmd-calculator

https://www.sec.gov/Archives/edgar/data/1342947/000121390024062820/ea0209708-01_497.htm
497 1 ea0209708-01_497.htm 497
BBH TRUST
BBH PARTNER FUND – SMALL CAP EQUITY
(BBHSX)
SUPPLEMENT DATED JULY 19, 2024 TO THE
PROSPECTUS
AND STATEMENT OF ADDITIONAL INFORMATION
DATED FEBRUARY 28, 2024
The following information supplements, and, to the extent inconsistent therewith, supersedes, certain information in the Prospectus and Statement of Additional Information. Unless otherwise noted, capitalized terms used in this supplement have the same meaning as defined in the Prospectus and Statement of Additional Information.
I. FUND LIQUIDATION
On July 19, 2024, the Board of Trustees of BBH Trust (the “Trust”) approved a Plan of Liquidation for the BBH Partner Fund – Small Cap Equity (the “Fund”) pursuant to which the Fund will be liquidated (the “Liquidation”) on or about the earlier of (i) September 30, 2024 and (ii) the date in which all shareholders have redeemed their respective shares in the Fund (the “Liquidation Date”). Shareholder approval of the Liquidation is not required.
Beginning on July 19, 2024 through the Liquidation Date, the Fund may depart from its stated investment objective and policies as it liquidates holdings in preparation for the distribution of assets to investors. During this time, the Fund may hold more cash or cash equivalents than normal, which may prevent the Fund from meeting its stated investment objective. Shareholders of record as of the close of business on the Liquidation Date will receive their proportionate interest in all of the net assets of the Fund in complete cancellation and redemption of all the outstanding shares of the Fund. Payment will be made in accordance with instructions from each shareholder. If a shareholder has not provided instructions by the time proceeds are distributed, that shareholder’s liquidation proceeds shall be distributed based on the payment instructions on file for such shareholder with the Fund’s Transfer Agent. For those accounts with no bank instructions on file with the Fund’s Transfer Agent, the Transfer Agent shall issue a check. If required by the Internal Revenue Code of 1986, the Fund will make an income distribution prior to the Liquidation Date.
Shareholders of the Fund may redeem their investments as described in the Fund’s Prospectus prior to the Liquidation Date.
If the Fund has not received your redemption request or other instruction by the Liquidation Date, your shares will be redeemed on the Liquidation Date, and you will receive your proceeds from the Fund, subject to any required withholding.
The Adviser will bear all expenses of the Liquidation to the extent such expenses are not part of the Fund’s normal and customary fees and operating expenses. However, the Fund and its shareholders will bear transaction costs and any potential tax consequences associated with turnover of the Fund’s portfolio.
The liquidation of the Fund, like any redemption of Fund shares, will constitute an event upon which a gain or loss may be recognized for state and federal income tax purposes, depending on the type of account and the adjusted cost basis of the investor’s shares. The tax year for the Fund will end on the Liquidation Date. Please contact your tax advisor to discuss the tax consequences to you of the liquidation.
II. CLOSURE OF THE FUND TO PURCHASES
Effective as of the close of business on July 19, 2024, the Fund will be closed to purchases of Fund shares, however, the Fund’s closure to purchases of Fund shares does not restrict any shareholders from redeeming shares of the Fund.
The Fund’s ability to enforce the closure of the Fund to purchases with respect to certain retirement plan accounts and accounts held by financial intermediaries may vary depending on systems capabilities, applicable contractual and legal restrictions and cooperation of those retirement plans and intermediaries.
Please contact the Fund at 1-800-575-1265 if you have any questions.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.

First of all….sorry @hank…..I oftentimes get you and @Crash mixed up in my brain for some reason reason. It was Crash’s post that he since deleted. So sorry!!! @Crash, your post DID have some good investing stuff in it, you’re right.
Second of all, I think many of us can be disappointed that the parties we have so long known no longer exist, as they have been taken over by individuals or families and dominated (Clinton’s and Obamas of Democratic Party, and Bush’s and now Trump’s of Republican Party). Most of us vote for the party that upholds the core handful of things that we believe in, with the other stuff that we DONT believe in being not enough to make us vote for “the other guy” (and hopefully, “girl” someday soon!). Last piece of politicking, I promise :)
I don’t know how de-globalization, stopping the mass border crossings (a supply of cheap, “pay under the table,” labor) and “making things with that beautiful ‘Made in America’ stamp” aren’t inflationary. Combined with pressure put on the Fed to lower interest rates, where will that leave our economy?
I watch way too much CNBC (it’s usually on as background noise), but Cramer was saying how the Russell 2K can’t handle billions and trillions rotating out of tech/growth because the market cap of the entire index is a mere percentage of a single Mag 7 stock. So they cannot be market leaders by themselves. LC value could be….maybe betting on the next trillion dollar market cap stock? LLY, BRK, JPM are close (above $500 billion).
@BaluBalu, what do you mean “Energy Services” stocks? SLB and HAL (sorry for the ignorance), or pipelines/drilling stocks? Good point that increased supply will mean lower prices (good for consumer, arguably, but less good for energy stocks). Maybe energy transportation stocks, as the US would likely be exporting more energy (especially LNG). I have held in the past OKE (but sold about $20 lower price! *face palm*), ENB, WMB, KMI. Pipeline companies trade more correlated to oil than they probably should. But these are NOT K-1 issuing companies.
I think defense stocks would do ok, even with the ending of war, as munition stocks would be replenished from the drawdowns from supplying Ukraine, and continued high military spending; maybe an increase in supplying Israel with military “stuff.”
Utilities have been a mixed bag the last week or so, as the winners of the AI-linked energy supply, such as VST or CEG (and NEE, but that’s more green energy) have gone down as much or more than big tech. And I believe these are some of the more nuclear utility companies; you would think the new administration would be ok with nuclear power (maybe it’s “down with everything that’s considered alternative energy”).
As far as fixed income, I’m not playing a drop in rates yet (as the market moves interest rates more than the Fed does anyways), other than potentially getting out of money markets. I continue to use preferreds (several that are floating rate, such as mREIT preferreds) and baby bonds, CLO ETFs (JAAA, JBBB, CLOZ…..thanks to multiple posters here for teaching me about them), and the low volatility mutual funds that @junkster and @FD1000 and others like (RSIVX, RCRFX/RCRIX, and a few others) that either don’t move or go up a penny every 5-10 days or so. I have been burned by income CEFs too many times to count; their yield is great, and if they traded like their NAV, then they would be amazing investments, but alas, their prices swing wildly. If I want to lose money, I would be better off swing trading the 3x tech ETPs hahaha. So I’m staying mostly away from bond CEFs and core/core-plus/multisector bond OEFs too.
For my wife’s 401(a) she DCAs into once a month, her two biggest holdings are DODGX and HACAX (Harbor’s LCG). They’re about an equal allocation, and they take turns going up (or down) more than the other. I got her out of her small cap value holding there about 2 weeks before the meteoric rise over the last 7-10 days (“I’m an excellent market timer”), and I also have a workplace retirement account from my current employer that I cant add to, and is limited to OEFs only. In that account I am WAY overweight LC growth and tech (I am 47, though so I can be, hopefully?) and only hold a tracking amount of @stillers favorite AUERX as my only SC holding. I WILL talk up a fund that MFO has talked about in the past: FAMEX, a MC blend/value fund that is a long term winner, and is the number 2 holding in that account (a distant 2nd to PRWCX; can’t believe my good fortune that I got into that fund before it closed!).
Apologies for the last paragraph: it went off topic for this thread.
I will continue to favor big tech for longer term returns, and the high quality of the companies. Most even pay a dividend now (even if a pittance). Maybe an equal weight in both LC growth and LC value would be a good way to play the next several months, rather than holding the S&P 500 index (which is basically LCG)? Or a quality fund, like @davidrmoran and several others like (including me; I own GQEPX and some accounts I manage have QLTY).
Apologies for the length of my post….sheesh. And apologies for the kerfluffle from my earlier post (AND FOR MISTAKEN IDENTITY!)!!

Thanks BaluBalu.
I extracted the paragraphs below from our 2021 MICUS report. A bit dated, but I believe M* has continued to grow its business even higher in the 3 years since.
The Business
If attendance at Morningstar The Conference was down this year, it does not reflect the success of Morningstar The Business, in spite of COVID or perhaps helped by it. Since Kapoor took over CEO in 2017, employees have doubled, as have MORN’s valuations. The company’s market cap has nearly quadrupled.
Adding to its acquisition of private equity tracker Pitchbook, the company acquired credit rating firm DBRS in 2019 and ESG rating firm Sustainalytics in 2020.
Since most people probably think of Morningstar as just the “Good Housekeeping” of the fund industry, it’s probably worth listing all their current products:
• DBRS Morningstar – Independent rating services and …
• Morningstar Advisor Workstation – Investment research, financial planning, client reporting …
• Morningstar Data – Global equity, managed investments, and market data …
• Morningstar Direct – Advanced portfolio analytics and performance reporting …
• PitchBook – Data, analysis, industry news, and in-depth reports on the private and public markets …
• ESG Investing Solutions – Assessments of ESG risks and opportunities across asset classes …
• Financial Planning Solutions – Web-based financial planning tools for advisors
• Sustainalytics – Sustainable investment strategies and security-level ESG research and ratings …
• Morningstar Office – Web-based portfolio and practice management …
• Morningstar Research – Independent, comprehensive evaluations on equities, funds …
• Morningstar Annuity Intelligence – Annuity research for professional investors
• Morningstar ByAllAccounts – Account-aggregation and financial-management tools…
• Morningstar Commodities & Energy – Research and data in the commodities and energy sectors …
• Morningstar Credit Information and Analytics – Credit tools and research …
• Morningstar Enterprise Components – Configurable, ready-to-integrate enterprise software …
• Morningstar Essentials – Investment statistics and ratings for institutional marketing professionals
• Goal Bridge – Goal-setting and investment planning for financial advisors
• Morningstar Investment Research Center – Comprehensive investment resources for library patrons
• Morningstar Reporting Solutions – Marketing materials, regulatory documents, and other custom …
• Manager Selection Services – Manager selection and investment analysis for financial advisors
• Morningstar Total Rebalance Expert – Tax-aware rebalancing for financial advisors
• Morningstar Indexes – Product benchmarking & creation for financial institutions and asset managers
• Managed Portfolios – Mutual fund, stock, and exchange-traded fund portfolios …
• Morningstar Retirement Manager – Workplace retirement account service for plan sponsors
• Advisor Managed Accounts – Managed accounts for registered investment advisors
• Morningstar Fiduciary Services – Investment selection, portfolio monitoring, and portfolio reporting …
• Morningstar Plan Advantage – Comprehensive retirement-plan management …
• Target-Date Solutions – Target-date funds for plan sponsors
• Morningstar Premium – Analysis of stocks, funds, and markets, plus tools …
• Morningstar Investor Newsletters – Investment strategies and in-depth analysis …
Morningstar’s founder and chairman, Joe Mansueto, retains about 45% of outstanding shares, representing a current value of about $5 billion. If there is someone vested in Chicago’s recovery, it would be him. He purchased the historic Wrigley Building in 2018 and most recently the Waldorf Astoria Chicago. He owns Major League Soccer’s Chicago Fire. He remains a large donor to the University of Chicago, his alma mater.

One of the businesses Morningstar entered just under three years ago was their own brand of mutual funds, which replaced other funds in its Managed Portfolios business. The nine funds have accumulated $5.3B in AUM, or about $44M in additional fees for Morningstar.
At the time, it seemed awkward to us [here’s David’s Take] and it remains awkward for Morningstar to offer its own competing funds. What’s worse is that so far they have performed unremarkably, as can be seen in the table below. As a fiduciary, I would be hard-pressed to defend why these funds were chosen over others recommended by Morningstar’s own research teams. None of the funds will qualify for Morningstar’s “5 Star” rating when they soon reach the 3-year mark. Morningstar is also a sub-advisor of five other funds for ALPS. These five ETF asset-allocation portfolios suffer even worse performance; in fact, Morningstar itself ranks the ALPS family “Below Average.”

Recently @yogibearbull linked in 'off topic', an estate planning article he wrote for a news publication.
Considering the vast knowledge and experience here, this topic deserves a full overview here; for the benefit of all involved in our lives.
I'll place next, the text of a Word document we produced about 25 years ago. This document has had many adds over the years.
-----
PERSONAL INFO FOR (NAMES)
UPDATED/EFFECTIVE DATE = XXXXXXXXXX
NOTE !!!!!   The below listings would be used in conjunction with any of the following legal forms that should be established for and by you for yourself and family members:
WILL, TRUST (there are many trust styles; i.e., revocable living trust, irrevocable, etc.) https://store.kiplinger.com/family_records_organizer_download.html GENERAL POWER OF ATTORNEY, DURABLE POWER OF ATTORNEY FOR PROPERTY AND MONIES, LIVING WILL AND/OR DURABLE POWER OF ATTORNEY FOR HEALTH CARE and HIPAA authorization and release form (allowing release of pertinent private medical information to authorized persons)
SOCIAL SECURITY NUMBERS:
*** full legal name, ssn#
DRIVER LICENSE #’S:
*** full legal name
HEALTH/DENTAL INSURANCE; names, policy type & numbers, contact phone #’s
MEDICARE, MEDICAID OR OTHER FEDERAL OR STATE RELATED
***relative information for any of these or related documents/forms
CREDIT CARDS:
*** issuers, card numbers, their phone #’s, etc.
      
INSURANCE POLICIES:
-home 
-auto
-life
-other
ELECTRONIC DEVICES UNLOCKS:   passwords, keypad method, thumb, facial or voice
RECIPIENT/BENEFICIARY MONIES FROM OTHERS OR A BUSINESS:
-are you listed in someone’s will/trust/business agreement that should be documented here? Is someone your beneficiary and needs to made aware of this?
PERSONAL AND REAL PROPERTY:
-real estate, cars, and personal property (collections, artwork, boats, jet skis and anything else one considers that others need to be aware of.
ALSO indicate as to what property is PAID IN FULL and OWNED
LIABILITIES:
-home mortgage
-home equity loans
-auto loans
-all other monies owed to a third party
* provide all pertinent information regarding these liabilities: what, where, who, etc.
PERSONAL RETIREMENT ACCOUNTS:
401K, 403B, 457, IRA’S, COMPANY PENSION PLAN:    
*vested company pension plans may be set with a spousal/beneficiary statement
CHILD/CHILDREN ACCTS (EDUCATIONAL, 529, SAVINGS, ETC.):
ANNUITIES:
BROKERAGE/STOCK/MUTUAL FUND ACCTS:
Note: contact info…phone numbers, acct numbers, login info, etc.
CHECKING/SAVING ACCOUNTS: organization, acct. #’s, contact names/phone #’s
Note: whose names are on the accounts???
SAFE DEPOSIT BOX: location & box number
NOTE…..who has a signed contract for access and who has a key
PASSWORDS:  home pc, pc documents, all online accounts; which may require security questions ansers and/or two factor verify with the code being sent via email or a cell phone number
DOCUMENTS LOCATION (physical  papers, etc.):
NOTE……indicate where these “original” documents are located
-check book, payment books (house payment, home equity, etc.)
-will, trust, power of attorney, living/medical will, guardianship (child)
-house deed/title
-auto titles
-cemetery plot/ownership documents
-IRS/State, previous tax years filings
-passports
-birth, marriage & related documents
-business/work required license
PHYSICIAN/DENTIST & related:
-preferred medical doctors and facility, all phone numbers and related
-daily medications list
-drug allergies
-allergies
-blood type
-immunizations
-brief medical history
EMPLOYER CONTACT INFO:
-this would include pension plan contact information
-local contact info, names and phone numbers
-human resources
-coworkers
CHILD’S SCHOOL & RELATED CONTACT INFO:
FAMILY/FRIEND CONTACT INFO (email, phone/mailing address):
CPA, ATTORNEY & related:
MEMBERSHIPS, SUBSCRIPTIONS (publications, societies, etc.):
LIST OF USUAL MONTHLY BILLS  (phone, utilities, cable tv, etc.)
-WHEN and how are recurring payments made? Electronic or paper check
PETS (local vet contact info):
-deposition of  pet(s), upon owner impairment or death
GENERAL COMMENTS & INSTRUCTIONS related to this info listing:
******** As to the list above, one may copy and paste into a Word document as a starting document to build upon.
As expected, some areas will need to updated as needed. ALSO, the CAPS in the document I've set in BOLD, and some line items are in RED. An example(s) would be Medicare numbers changed several years ago. Most VISA and DEBIT card numbers expire every 4 years. We've had to add doctors info and medications taken (it's an age thing). We have a separate list for common recurring payments. Some are with VISA, ACH via the checking acct. and few random payments; one being a once a year payment for an inflation protected insurance policy for a high end musical instrument. This payment request arrives, in the mail, every May. We decide how to pay at that time. Also, our local real estate taxes and water/sewers bills are always sent in the mail. There isn't a payment plan that may be set.
Our Word document is password protected in a laptop, has thumb drive backup and paper copies. Your storage methods may vary; but those who need to be aware of this information need to know this, too.
An example of what may help you with gaining more knowledge are YouTube finds. This will provide an example for TOD/POD set ups.
Ok for now. I'm ready for a nap on this hot and humid day in Michigan. I plan to add more at a later time.
Share your experiences and suggestions with all things for 'estate planning'.
Thank you.
Remain curious,
Catch

The TIAA VAs that yogi is writing about are the CREF annuities. TIAA invented variable annuities for the predecessor of 403(b) plans back in 1952. These qualified annuities are different from the non-qualified annuities that Catch is asking about.
Non-qualified annuities are funded with after tax dollars. From an IRS perspective they are similar to non-deductible T-IRAs. Like IRAs, they have a penalty if you take withdrawals before age 59½. One difference is that unless you annuitize, the non-deductible dollars are the last ones out, unlike non-deductible T-IRAs, where withdrawals are prorated between pre- and post-tax dollars.
If one disregards typically expensive optional bells and whistles (enhanced death benefits, GLWBs, etc.), VAs can be used as non-deductible T-IRAs after maxing out one's IRA contributions. Unlike T-IRAs, they do not have RMDs at age 73 or so; however they do require one to withdraw money or annuitize at an age specified in the contract (usually somewhere between 85 and 90 or 95).
VAs all carry a variety of charges. Each contract sets its own rates, just as each mutual fund sets its own fees. Morgan Stanley (see link below) does a good job of giving industry ranges. Read the paper if you care to know what these fees are for:
Mortality and Expense Risk (M&E): 0.20% - 1.80%
Administrative and Distribution Fees: 0.00% - 0.60%
Annual Fee: $30 - $50, waived with high enough balance (typically $50K)
Contingent Deferred Sales Chage (CDSC) - think "class B shares" - 0% to 9% declining
https://www.morganstanley.com/content/dam/msdotcom/en/assets/pdfs/wealth-management-disclosures/understandingvariableannuities.pdf
As you can see from these ranges, there are some VAs with low "wrapper" fees (the first three charges), and that don't charge a fee to get out (no CDSC). The Fidelity Personal Retirement Annuity mentioned by catch (0.25% wrapper fees) is one such annuity. Until 2019 Vanguard had its own VA. At the time I believe its wrapper fee was 0.30%. There are others.
Of note, especially since yogi mentioned TIAA, is TIAA Intelligent Variable Annuity. Its fees depend on the size of the annuity, ranging from 0.50% (plus $25 if under $25K) to 0.35% (at $100K) and 0.25% (at $500K). The kicker is that after ten years, the wrapper fee drops to 0.10% regardless of balance. See prospectus.
Schwab sells a low cost VA (Genesis Life from Protective Life) with a 0.45% wrapper fee. There are a few others (I recall Pacific Life being one); search for no-load variable annuities.
As with 401(k)s, one also needs to consider the costs of the underlying portfolios. Like mutual funds, these come in multiple share classes. So it's not enough to simply look at the VA portfolio fund, but its share class. For example, both Fidelity and TIAA sell Pimco VIT Commodity Real Return Strategy. But Fidelity sells the Administrative class shares (see the prospectus it links to) with 1.48% ER after waivers, while TIAA sells the institutional class shares with an ER of 1.33% (see its fund prospectus).
Last and probably least :-) are a couple of comments about M*'s coverage of VAs. When comparing star ratings (if you can find them) M* has two different sets of ratings. One is for the fund itself (could vary by share class), the other is for the fund within the VA, i.e. including the wrapper fees. Most funds will tend to get high star ratings in the low cost VAs simply because they cost about 3/4% less than in "average" VAs. All those 4 and 5 star ratings are relatively meaningless if what you're interested in is the risk-adjusted performance of the underlying funds.
Second is that one can still eke out some VA info from M*. One has to search for a hidden "ticker" symbol of the fund of interest. That ain't easy. For example, here's the google search I did for dfa VA international value portfolio. It turned up a FT page with a ticker-like value of 0P00003CY8. In M*'s portfolio manager, create a portfolio with this as the sole holding, you'll be able to get a little info, including its YTD gain of 9.48%. And if you have premium membership, you'll be able to x-ray that portfolio to find that it is 98% foreign, with 54% in LCV.
If you add "pdf" to the search string, you might even turn up a 2 page M* report on the portfolio, such as this one at Pacific Life. (Just check the date to make sure you found a current report.)

FWIW: My 30/70 retirement portfolio has 4 CEFs which are 31.9% of the total PF. They run from 7 to 9% each.

Above-the-fold article on this morning's WSJ website. Also mentioned are concerns over new fees nickle-and-diming customers and how growth of AUM not leading to customer service/interface improvements.
(gift link)
https://www.wsj.com/personal-finance/vanguards-die-hard-customers-have-a-message-for-new-ceo-the-service-is-abysmal-c2da0491?st=79tslq2qz4mj6bi&reflink=desktopwebshare_permalink
Vanguard ranked last out of eight major brokerages for customer satisfaction with website performance and mobile apps in a recent survey of 2,700 investors conducted by Investor’s Business Daily, which is published by The Wall Street Journal’s parent company, Dow Jones. The asset manager has acknowledged the problems, which some analysts chalk up to an underinvestment in technology.
Former CEO Tim Buckley, who announced his retirement in February, said in 2019 that the firm would spend $1 billion a year to improve its technology. Vanguard rolled out a modernized app in 2021, but customers weren’t impressed and complained of bugs and dumbed-down functionality.
“The complaints go back years and years,” said Daniel Sotiroff, a research analyst who covers Vanguard at Morningstar. “Part of the issue is their size and how fast they’ve grown. It’s hard to turn the Titanic.”
< - >
For investors having web or tech issues, the lack of night or weekend service is a particular point of frustration. Vanguard’s customer-service line is open Monday through Friday from 8 a.m. to 8 p.m. Eastern time. Rivals Fidelity and Charles Schwab both offer 24/7 customer service by phone.
“They’ve always tried to keep costs low and service has suffered as a result,” said Jeff DeMaso, editor of the Independent Vanguard Adviser, a newsletter. “Long wait times are an issue.”
< - >
There’s a theory, and I’m not the only one to come up with it, that they’d rather move people onto the personal advisory service where they make more money or they’re just as happy if they go to another brokerage,” said Allan Roth, founder of Wealth Logic, a financial-planning firm.

Barron’s Funds Quarterly (2024/Q2–July 8, 2024)
https://www.barrons.com/topics/mutual-funds-quarterly
(Performance data quoted in this Supplement are for 2024/Q2 and YTD to 6/30/24)
Pg L2: In comparing the best mutual funds (typically, active) vs the best ETFs (typically, passive, as the active ETFs are still evolving) in categories, the former were ahead (the 1st mentioned). Beware that leading active funds don’t maintain their lead after a few years; and some of these leading active funds are also concentrated. (Picture would change if average or typical mutual funds and ETFs were considered) (By @LewisBraham at MFO)
US Large-Caps GQEPX vs VOO, FDGRX vs QQQ
US Small-Caps AVALX vs RWJ, HFCGX vs IJR, NEAGX vs XSMO
Balanced/Hybrids DGIFX vs NTSX, FPURX vs OCIO (an unexciting category for ETFs)
International GSINX vs IDMO, BISAX vs FYLD, MSMLX vs EEMS
Bonds LCTRX vs FBND, FAGIX vs FALN (FAGIX may be conservative-allocation due to its equity)
Pg L6: Funds with exposure to Nvidia/NVDA and/or Eli Lilly/LLY did well, especially large-cap growth – HCMGX / HCMIX, FOCPX, VPMCX / VPMAX, VIGRX / VIGAX; ETFs QQQ, IWY, VUG (some leveraged funds are mentioned also). Other fund categories that did well include India, precious metals, utilities. (By @LewisBraham at MFO)
MORE Fund Stories (Part 2)
FUNDS. SMALL-CAP (SC) R2000/IWM is more cyclical after the June 28 rebalancing as companies such as SMCI have moved out. The Top 5 R2000 stocks are FTAI, INSM, ANF, FN, SFM, accounting for a whopping 1.93%. The Top 5 sectors are healthcare, industrials, financials, tech, consumer cyclicals. If you own R2000/IWM, keep an eye on Fed news. (Better, own SP SC 600 IJR, SPSM)
SCs are going through a period of profit slump. This notwithstanding that 40% of R2000/IWM are unprofitable. A simple solution is to use better SC index SP SC 600 (IJR, SPSM), or SC-quality DFAS (active).
INTERVIEW/Q&A. FUNDS. David BARON, BFGFX / BFGIX. He likes large positions in founder-led growth companies that are trading at discount from firm’s intrinsic value estimates, for example, TSLA, SpaceX (private), BIRK, ONON, SPOT, SHOP, H, FIGS, etc. His goal is to double the money in 4-5 years. He thinks that sideline money can support this rally; his upside now is 20-30%, downside 10-15%. Ron BARON (81) founded Baron Capital and now sons David (44) and Michael also work for the firm. Both are involved with multiple funds.
RETIREMENT. Don’t overstay in “cash” when rates start dropping. Gradually increase maturity – T-Notes, CDs, short/intermediate-term bond funds. Consider buffer funds such as MAXJ – it holds IVV with option collars.
LINK

Monday sold VG 2025 retirement fund. No more retirement funds for me ! Took a L o n g time to recover from 2022 !

Vanguard Target Income, VTINX, has not completely recovered as of yet. Both funds, when corrected for inflation are probably not close to "recovered". I haven't moved out of VTINX (deferred) but should have and should even now but at my age, 75, I don't know where I would go. More money or less money probably won't affect my life at all since I don't spend the new money coming in from pension and SS. Don't worry though, IRMAA will get the excess starting next year.

Monday sold VG 2025 retirement fund. No more retirement funds for me ! Took a L o n g time to recover from 2022 !

FICO is corrosively sad; they serve up big errors to the reporting oligopoly when needed most, or needed not at all.
3 years after early retirement, FICO show :
my home address of ~3 moves ago which is ~9 years old.
my highest score ever....not much room left.
all this despite opening a new bank and credit card after retiring.
what are the repercussions of getting all these things wrong? none, just like the business credit raters.

Stable-Value (SV) Rates, 7/1/24
TIAA Traditional Annuity (Accumulation) Rates
25 bps decreases.
Restricted RC 5.50%, RA 5.25%
Flexible RCP 4.75%, SRA 4.50%, Newer IRAs 4.75%
(TIAA Declaration Year 3/1 - 2/28)
TSP G Fund hasn't updated yet (previous 4.635%).
Edit/Add. July rate is 4.500%
Options outside of workplace retirement plans include m-mkt funds, bank m-mkt accounts (FDIC insured), T-Bills, short-term brokered CDs.
#StableValue #401k #403b #TIAA #TSP
https://ybbpersonalfinance.proboards.com/post/1534/thread

What do the seasoned investors on this board think of capital groups ETF’s as a whole? But In particular, CGUS, CGDV, CGGR?
I’ve never invested in Capital Group funds until they entered the ETF market. I currently hold double-digits in CGUS and CGDV. I’ve been pleased with their performance so far, although they have a little more overlap (per etfrc.com).
I like to invest in active funds to compliment the passive funds I own. FYI : I only hold a handful of funds.
There seems to be enough uniqueness because they often zig/zag somewhat.
Any comments or thoughts are greatly appreciated! Thx. Matt

AF equity products have largely become closet index funds. That said these ETF's have less than 10billion in assets so don't necessarily have the bloat. I assumed originally that these were largely ETF versions of their larger flagships but as of now they are slightly different.
for me they are different enough to pay attention to but I also feel like eventually they'll become more aligned with their indexes than they should.
CGGR is the only one i've tracked and as of now it is underperforming its index but 2 months ago it was beating it and 2 years is really not much of a record to make a decision on.
I think the real value for these are people who invest outside of retirement accounts. regardless of performance the tax implications of AF funds are pretty big. the ETF wrapper allows you to stay in AF but not have the huge tax hits year in and year out.

My parents are retiring soon and want some additional income to help fund their retirement. They're considering these options: PSTL yields 7.28% and pays quarterly, O yields 5.9% and pays monthly, PFE yields 5.85% and pays quarterly.
Please let me know what board members think of these options? Any other suggestions for a fairly dependable yield?
Thanks in advance for any and all replies!!