“Red Sea, now: politics and war. Sigh”.

Whatever became of “The war to end all wars”? Huh?

“Is this a reason that gold is up in recent weeks?”

Good question. Gold’s been a bumpy ride as usual, but generally has gained ground throughout the year. Peaked over $2100 (a record high) 2-3 weeks back. Around $2050 today. It’s hard to assign causes for its erratic moves. But increasing international tensions would probably push it higher. Also, I think the easing (or perceived easing) of monetary policy by the Fed is the bigger ingredient in its gains this year.
Disclosure - I’ve followed gold for decades. But moved out of my only gold + pm funds completely 6-12 months ago due to the need to reduce portfolio volatility with increasing age. While I don’t like to identify specific holdings, I’ll say I’m a long time owner of PRPFX, which maintains significant gold and silver exposure, and also own one CEF that owns gold miners along with other natural resource stocks. Neither bullish nor bearish on gold. Have always viewed it more as a “hedge” inside a widely diversified portfolio.

looking at a chart since 1-1-2018 (https://schrts.co/ABHTItFS), you can clearly see that RSIVX is a better risk/reward fund. I don't know what happened in 03/2020 but RSIVX had better volatility in other times. If you look at both since 1-1-2018 using PV(https://www.portfoliovisualizer.com/backtest-portfolio?s=y&sl=7PR7ukI53msSeMklaEkT2N) OSTIX has lower volatility, I think that 03/2020 was so bad that it affected the LT volatility of RSIVX.
But, for 2018-19, performance is similar but RSIVX has a lower SD.
From 4-1-2020 to 11-30-2023, RSIVX won on performance + SD = Sharpe is almost double, see (https://www.portfoliovisualizer.com/backtest-portfolio?s=y&sl=3Kn0yyPahzqRMl9wzQRoOf)

REMIX on my watch list. Outperforms many of the beloved funds (in any category) in key metrics since inception 1/2020. However 50% treasuries implies some degree of trading in which one wrong turn might return to the norm.

Moved all money from money market assets in the IRA, and into a preferred CEF. I'm searching for capital appreciation along with increased distributions.

I’m giving some thought to going a little shorter or more conservative in the fixed income / bond sleeves. Just a thought. Maybe lock in some of the recent gains?

I'm with you on that, @Hank. Moved some intermediate duration to limited duration the past few days; not a huge reallocation though.
P.S. 6m to 3y Treasuries had a decent tick up in yield Friday.

I’m giving some thought to going a little shorter or more conservative in the fixed income / bond sleeves. Just a thought. Maybe lock in some of the recent gains?

https://www.sec.gov/Archives/edgar/data/1500604/000119312523295531/d651596d497.htm
497 1 d651596d497.htm 497
Janus Detroit Street Trust
Janus Henderson Sustainable & Impact Core Bond ETF
Supplement dated December 14, 2023
to Currently Effective Summary Prospectus, Prospectus and
Statement of Additional Information (“SAI”)
The Board of Trustees of Janus Detroit Street Trust (the “Trust”) approved a plan to liquidate and terminate Janus Henderson Sustainable & Impact Core Bond (the “Fund”), effective on or about February 21, 2024 (the “Liquidation Date”). After the close of business on or about February 15, 2024, the Fund will no longer accept creation orders. Trading in the Fund will be halted prior to market open on or about February 16, 2024. Proceeds of the liquidation are currently scheduled to be sent to shareholders on or about February 23, 2024. Termination of the Fund is expected to occur as soon as practicable following the liquidation.
Prior to and through the close of trading on NYSE Arca, Inc. (“NYSE”) on February 15, 2024, the Fund will undertake the process of winding down and liquidating its portfolio. This process may result in the Fund holding cash and securities that may not be consistent with its investment objectives and strategies. Furthermore, during the time between market open on February 16, 2024 and the Liquidation Date, because the shares will no longer be traded on NYSE, there may not be a trading market for the Fund’s shares.
Shareholders may sell shares of the Fund on NYSE until the market close on February 15, 2024 and may incur typical transaction fees from their broker-dealer. Shares held as of the close of business on the Liquidation Date will be automatically redeemed for cash at the then current net asset value. Proceeds of the redemption will be paid through the broker-dealer with whom you hold shares of the Fund. Shareholders will generally recognize a capital gain or loss on the redemptions. The Fund may or may not, depending upon its circumstances, pay one or more dividends or other distributions prior to or along with the redemption payments. Please consult your personal tax advisor about the potential tax consequences.
Please retain this Supplement with your records.

hi @BaluBalu. It's an ongoing evaluation. There are plenty more things in the IRA to sell before I get around to XMHQ. I killed a lot of flowers and fed a lot weeds when I rebalanced in November 2021. I might just keep it.
Just ran one of my screens at MFO Premium and XMHQ is looking good since Covid (2020/01). OTOH, FMIMX looks good since TGN (2022/01). It's one of a very few SMID funds with a positive Martin ratio number since then.
So it will come down to the risk and volatility numbers going forward. I'm not sure what longer-dated past performance numbers have to say about the environment we are in now, or the one that we may be entering.
As for the price? What else? I like their marketing. ;)

@stillers,
Sorry, I read the OPs question rather than getting in any fund managed by Mr. Krug as to getting in a closed fund managed by Mr. Krug.
https://www.sec.gov/ix?doc=/Archives/edgar/data/935015/000119312523227441/d515026d497.htm#xx_1e50d048-f5f7-47a0-b2d4-07301b86b98f_2
The only way to purchase ARTFX as cited from the most recent prospectus:
Who is Eligible to Invest in a Closed Fund?
Artisan High Income Fund, Artisan International Small-Mid Fund and Artisan International Value Fund are closed to most new investors. From time to time, other Funds may also be closed to most new investors. The Funds do not permit investors to pool their investments in order to meet the eligibility requirements, except as otherwise noted below.
If you have been a shareholder in a Fund continuously since it closed, you may make additional investments in that Fund and reinvest your dividends and capital gain distributions in that Fund, even though the Fund has closed, unless Artisan Partners considers such additional purchases to not be in the best interests of the Fund and its other shareholders. An employee benefit plan that is a Fund shareholder may continue to buy shares in the ordinary course of the plan’s operations, even for new plan participants.
You may open a new account in a closed Fund only if that account meets the Fund’s other criteria (for example, minimum initial investment) and:
◾you beneficially own shares of the closed Fund at the time of your application;
◾you beneficially own shares in the Funds with combined balances of $250,000;
◾you receive shares of the closed Fund as a gift from an existing shareholder of the Fund (additional investments generally are not permitted unless you are otherwise eligible to open an account under one of the other criteria listed);
◾you are transferring or “rolling over” into a Fund IRA account from an employee benefit plan through which you held shares of the Fund (if your plan doesn’t qualify for rollovers you may still open a new account with all or part of the proceeds of a distribution from the plan);
◾you are purchasing Fund shares through a sponsored fee-based program and shares of the Fund are made available to that program pursuant to an agreement with the Funds or Artisan Partners Distributors LLC and the Funds or Artisan Partners Distributors LLC has notified the sponsor of that program in writing that shares may be offered through such program and has not withdrawn that notification;
◾you are an employee benefit plan and the Funds or Artisan Partners Distributors LLC has notified the plan in writing that the plan may invest in the Fund and has not withdrawn that notification;
◾you are an employee benefit plan or other type of corporate, charitable or governmental account sponsored by or affiliated with an organization that also sponsors or is affiliated with (or is related to an organization that sponsors or is affiliated with) another employee benefit plan or corporate, charitable or governmental account that is a shareholder of the Fund at the time of application;
◾you are a client, employee or associate of an institutional consultant or financial intermediary and the Funds or Artisan Partners Distributors LLC has notified that consultant or financial intermediary in writing that you may invest in the Fund and has not withdrawn that notification;
◾you are a client of a financial advisor or a financial planner, or an affiliate of a financial advisor or financial planner, who has at least:
○$2,500,000 of client assets invested with the closed Fund at the time of your application; or
○$5,000,000 of client assets invested with the Funds or under Artisan Partners’ management at the time of your application and, with respect Artisan International Value Fund only, the Funds or Artisan Partners Distributors LLC has notified such financial advisor or financial planner, or affiliate of such financial advisor or financial planner, in writing, that that you may invest in the Fund and has not withdrawn that notification;
◾you are an institutional investor that is investing at least $5,000,000 in the Fund and the Fund or Artisan Partners Distributors LLC has notified you in writing that you may invest in the Fund and has not withdrawn that notification (available for investments in Artisan International Small-Mid Fund and Artisan International Value Fund only);
◾you are a client of Artisan Partners or are an investor in a product managed by Artisan Partners, or you have an existing business relationship with Artisan Partners, and in the judgment of Artisan Partners, your investment in a closed Fund would not adversely affect Artisan Partners’ ability to manage the Fund effectively; or
|
Prospectus—Artisan Partners Funds
155
◾you are a director or officer of the Funds, or a partner or employee of Artisan Partners or its affiliates, or a member of the immediate family of any of those persons...

Taxation of ADR stocks and U.S. Investors
”Like regular U.S.-based stocks, ADRs that issue dividends are taxed in the same manner. However, the one caveat is that because it is considered a foreign investment, the foreign home country will typically have a withholding amount. Each country has a different withholding tax but typically the amount ranges from 15% to 20%. Some countries have a significant amount of withholding on their dividends, such as Chile and Switzerland – both of which withhold 35%. France, for instance, also has one of the highest withholding rates in the world. The initial base rate is 30% but if the investor is in a non-cooperative country of the European Union, the rate is 75%.
“Many countries around the world have set up tax treaties with the U.S. and Canada, which reduces the withholding rate for investors. Chile, Switzerland and France all have established tax treaties with both countries, so instead of the higher withholding rates listed above, U.S. and Canadian citizens only have to withhold a maximum of 15%. However, it is important to remember how ADRs work. ADRs are generally held in bulk by a foreign custodian, which may or may not have the residency information for each individual investor. In this scenario, the ADR custodian may reduce the dividend payment by the foreign domestic withholding tax.”
With apologies to @dtconroe - I agree there’s some thread drift here. A CD is not an ADR. But @Crash was reacting to the issue of timely payment of interest and / or dividends. Regardless of the source of those payments, failure to receive payment on time would unnerve me and many other investors.
@MikeM - The issue has been raised before. What I have surmised is: even if held in a tax exempt / tax deferred account, holders of an ADR will get hit with the foreign country’s tax on dividends. I experienced this for the first time a year ago. Everything I’ve read indicates that those taxes also apply to indirect ownership of foreign companies (ie through a fund). The tax is paid by the fund and comes out of “other fund expenses” so that holders are often not aware they are paying it. Yes, per @yogibearbull, there is a provision in the U.S. tax code that may allow someone to apply for / receive at least a partial reimbursement - but I have not looked into it further.
What ought not be overlooked (in my case anyway) - There is no capital gains tax. So one may trade in and out freely and perhaps recoup part or all of the income tax paid on dividends.

I don't understand fully this ADR tax, but it doesn't sound like an "extra" tax levied to an individual investor, to me. It sounds like it has been made for the convenience of US investors to be a normal dividend and capital gains tax, same as you would pay on domestic holdings.
I have never paid a tax on foreign company holdings or seen paperwork that one was withheld, but that could be because all my foreign investments (mutual funds, ETFs and stocks) are in tax deferred accounts.
Also, the write up talks about stock transactions. I don't see anything about CD income.
from Fidelity website: https://www.fidelity.com/learning-center/investment-products/stocks/understanding-american-depositary-receipts

American Depositary Receipts (ADRs) offer US investors a means to gain investment exposure to non-US stocks without the complexities of dealing in foreign stock markets. They represent some of the most familiar companies in global business, including household names such as Nokia, Royal Dutch Petroleum (maker of Shell gasoline), and Unilever. These and many other companies based outside the US list their shares on US exchanges through ADRs.

Taxing and reporting
ADR investors are not subject to non-US stock transaction taxes. And for those countries that maintain tax treaties with the US, dividends are paid without foreign withholding. However, like investment gains or income from domestic securities, proceeds from an ADR holding may be subject to US income or capital gains taxes and may be subject to backup withholding.

https://www.sec.gov/Archives/edgar/data/1612930/000089418923008790/angeloakclassmerger497esti.htm
(click on above link for more details)
Registration No. 333-197427; 811-22980
ANGEL OAK HIGH YIELD OPPORTUNITIES FUND
Class A | Class C | Institutional Class
ANGEL OAK TOTAL RETURN BOND FUND
Class A | Class C | Institutional Class
Each, a series of Angel Oak Funds Trust (the “Trust”)
Supplement dated December 8, 2023,
to the Summary Prospectuses, Prospectus and
Statement of Additional Information (“SAI”) each dated May 31, 2023, as supplemented to date
Conversion of Class A Shares of the Angel Oak High Yield Opportunities Fund into Institutional Class
Based on a recommendation of Angel Oak Capital Advisors, LLC. (the “Adviser”), on December 6, 2023, the Board of Trustees of the Trust (the “Board”) has approved converting the Class A shares of the Angel Oak High Yield Opportunities Fund (the “HY Fund”) into Institutional Class shares of the HY Fund and then closing the Class A shares of the HY Fund after the close of business on or around January 19, 2024.
Prior to the conversion, shareholders of Class A shares may redeem their investments as described in the HY Fund’s Prospectus. If shares are not redeemed prior to the conversion, each shareholder owning Class A shares of the HY Fund will own Institutional Class shares of the HY Fund equal to the aggregate value of the shareholder’s Class A shares. Because Class A shareholders will own Institutional Class shares following the conversion, those shareholders will no longer be subject to a Distribution and Service (Rule 12b-1) Fee.
The conversion is expected to be a tax-free event for federal income tax purposes. Please see the Prospectus for more information about the fees and expenses associated with Institutional Class shares.
Class C Shares Not Available
Class C shares for both the HY Fund and the Angel Oak Total Return Bond Fund (the “Total Return Bond Fund”), which have never launched, will no longer be available for purchase...

https://www.sec.gov/Archives/edgar/data/1089951/000119312523291824/d488384d497.htm
497 1 d488384d497.htm AMG FUNDS
Filed pursuant to Rule 497(e)
File Nos. 333-84639 and 811-09521
AMG FUNDS
AMG GW&K Emerging Wealth Equity Fund
Supplement dated December 8, 2023 to the Prospectus and Statement of Additional Information,
each dated March 1, 2023
The following information supplements and supersedes any information to the contrary relating to AMG GW&K Emerging Wealth Equity Fund (the “Fund”), a series of AMG Funds (the “Trust”), contained in the Fund’s Prospectus and Statement of Additional Information, dated as noted above.
The Board of Trustees of the Trust has approved a plan to liquidate and terminate the Fund (the “Liquidation”), which is expected to occur on or about February 9, 2024 (the “Liquidation Date”). Effective on or about December 11, 2023, it is expected that the Fund will begin selling its portfolio investments and will invest the proceeds in cash and cash equivalents, in anticipation of the Liquidation. Proceeds of the Liquidation are expected to be distributed to shareholders of the Fund promptly following the Liquidation Date in full redemption of each shareholder’s shares of the Fund.
Effective prior to the open of business on December 11, 2023, the Fund will no longer accept investments, except for investments made through existing asset allocation programs investing in the Fund, and shares purchased pursuant to automatic investment programs, such as automatic investments through 401(k) plans and reinvestments of any dividends and distributions. Those shareholders investing in the Fund through one of the exceptions described above may continue to purchase shares of the Fund provided that such transactions settle prior to the Liquidation Date.
A letter will be sent to shareholders who hold shares directly with the Fund (“Direct Shareholders”) setting forth the various options and instructions with respect to the Liquidation and the distribution of Direct Shareholders’ redemption proceeds. Any Direct Shareholder may elect to have redemption proceeds sent to them via check. Direct Shareholders may also elect to exchange their Fund shares into the same share class of any other fund in the AMG Funds family of funds that is open to new investors (subject to minimum initial investment requirements as described in such fund’s prospectus). Shareholders who hold their shares in the Fund through a financial intermediary should contact their financial representative to discuss their options with respect to the Liquidation and the distribution of such shareholders’ redemption proceeds.
The Fund intends to distribute its accumulated net capital gains and net investment income, if any, to shareholders of record of the Fund as of the close of business on December 13, 2023; these distributions may be taxable to shareholders who do not hold their shares in a tax-advantaged account such as an IRA or 401(k).
PLEASE KEEP THIS SUPPLEMENT FOR FUTURE REFERENCE

https://www.sec.gov/Archives/edgar/data/912036/000119312523291825/d640668d497.htm
497 1 d640668d497.htm AMG FUNDS IV
Filed pursuant to Rule 497(e)
File Nos. 033-68666 and 811-08004
AMG FUNDS IV
AMG River Road International Value Equity Fund
Supplement dated December 8, 2023 to the Prospectus and Statement of Additional Information,
each dated March 1, 2023
The following information supplements and supersedes any information to the contrary relating to AMG River Road International Value Equity Fund (the “Fund”), a series of AMG Funds IV (the “Trust”), contained in the Fund’s Prospectus and Statement of Additional Information, dated as noted above.
The Board of Trustees of the Trust has approved a plan to liquidate and terminate the Fund (the “Liquidation”), which is expected to occur on or about February 9, 2024 (the “Liquidation Date”). Effective on or about December 11, 2023, it is expected that the Fund will begin selling its portfolio investments and will invest the proceeds in cash and cash equivalents, in anticipation of the Liquidation. Proceeds of the Liquidation are expected to be distributed to shareholders of the Fund promptly following the Liquidation Date in full redemption of each shareholder’s shares of the Fund.
Effective prior to the open of business on December 11, 2023, the Fund will no longer accept investments, except for investments made through existing asset allocation programs investing in the Fund, and shares purchased pursuant to automatic investment programs, such as automatic investments through 401(k) plans and reinvestments of any dividends and distributions. Those shareholders investing in the Fund through one of the exceptions described above may continue to purchase shares of the Fund provided that such transactions settle prior to the Liquidation Date.
A letter will be sent to shareholders who hold shares directly with the Fund (“Direct Shareholders”) setting forth the various options and instructions with respect to the Liquidation and the distribution of Direct Shareholders’ redemption proceeds. Any Direct Shareholder may elect to have redemption proceeds sent to them via check. Direct Shareholders may also elect to exchange their Fund shares into the same share class of any other fund in the AMG Funds family of funds that is open to new investors (subject to minimum initial investment requirements as described in such fund’s prospectus). Shareholders who hold their shares in the Fund through a financial intermediary should contact their financial representative to discuss their options with respect to the Liquidation and the distribution of such shareholders’ redemption proceeds.
The Fund intends to distribute its accumulated net capital gains and net investment income, if any, to shareholders of record of the Fund as of the close of business on December 13, 2023; these distributions may be taxable to shareholders who do not hold their shares in a tax-advantaged account such as an IRA or 401(k).
PLEASE KEEP THIS SUPPLEMENT FOR FUTURE REFERENCE

https://www.sec.gov/Archives/edgar/data/879947/000119312523291826/d605591d497.htm
497 1 d605591d497.htm AMG FUNDS II
Filed pursuant to Rule 497(e)
File Nos. 033-43089 and 811-06431
AMG FUNDS II
AMG GW&K Global Allocation Fund
Supplement dated December 8, 2023 to the Prospectus and Statement of Additional Information,
each dated May 1, 2023
The following information supplements and supersedes any information to the contrary relating to AMG GW&K Global Allocation Fund (the “Fund”), a series of AMG Funds II (the “Trust”), contained in the Fund’s Prospectus and Statement of Additional Information, dated as noted above.
The Board of Trustees of the Trust has approved a plan to liquidate and terminate the Fund (the “Liquidation”), which is expected to occur on or about February 9, 2024 (the “Liquidation Date”). Effective on or about December 11, 2023, it is expected that the Fund will begin selling its portfolio investments and will invest the proceeds in cash and cash equivalents, in anticipation of the Liquidation. Proceeds of the Liquidation are expected to be distributed to shareholders of the Fund promptly following the Liquidation Date in full redemption of each shareholder’s shares of the Fund.
Effective prior to the open of business on December 11, 2023, the Fund will no longer accept investments, except for investments made through existing asset allocation programs investing in the Fund, and shares purchased pursuant to automatic investment programs, such as automatic investments through 401(k) plans and reinvestments of any dividends and distributions. Those shareholders investing in the Fund through one of the exceptions described above may continue to purchase shares of the Fund provided that such transactions settle prior to the Liquidation Date.
A letter will be sent to shareholders who hold shares directly with the Fund (“Direct Shareholders”) setting forth the various options and instructions with respect to the Liquidation and the distribution of Direct Shareholders’ redemption proceeds. Any Direct Shareholder may elect to have redemption proceeds sent to them via check. Direct Shareholders may also elect to exchange their Fund shares into the same share class of any other fund in the AMG Funds family of funds that is open to new investors (subject to minimum initial investment requirements as described in such fund’s prospectus). Shareholders who hold their shares in the Fund through a financial intermediary should contact their financial representative to discuss their options with respect to the Liquidation and the distribution of such shareholders’ redemption proceeds.
The Fund intends to distribute its accumulated net capital gains and net investment income, if any, to shareholders of record of the Fund as of the close of business on December 13, 2023; these distributions may be taxable to shareholders who do not hold their shares in a tax-advantaged account such as an IRA or 401(k).
PLEASE KEEP THIS SUPPLEMENT FOR FUTURE REFERENCE

https://www.sec.gov/Archives/edgar/data/1089951/000119312523291827/d614129d497.htm
497 1 d614129d497.htm AMG FUNDS
Filed pursuant to Rule 497(e)
File Nos. 333-84639 and 811-09521
AMG FUNDS
AMG GW&K Emerging Markets Equity Fund
Supplement dated December 8, 2023 to the Prospectus and Statement of Additional Information,
each dated March 1, 2023
The following information supplements and supersedes any information to the contrary relating to AMG GW&K Emerging Markets Equity Fund (the “Fund”), a series of AMG Funds (the “Trust”), contained in the Fund’s Prospectus and Statement of Additional Information, dated as noted above.
The Board of Trustees of the Trust has approved a plan to liquidate and terminate the Fund (the “Liquidation”), which is expected to occur on or about February 9, 2024 (the “Liquidation Date”). Effective on or about December 11, 2023, it is expected that the Fund will begin selling its portfolio investments and will invest the proceeds in cash and cash equivalents, in anticipation of the Liquidation. Proceeds of the Liquidation are expected to be distributed to shareholders of the Fund promptly following the Liquidation Date in full redemption of each shareholder’s shares of the Fund.
Effective prior to the open of business on December 11, 2023, the Fund will no longer accept investments, except for investments made through existing asset allocation programs investing in the Fund, and shares purchased pursuant to automatic investment programs, such as automatic investments through 401(k) plans and reinvestments of any dividends and distributions. Those shareholders investing in the Fund through one of the exceptions described above may continue to purchase shares of the Fund provided that such transactions settle prior to the Liquidation Date.
A letter will be sent to shareholders who hold shares directly with the Fund (“Direct Shareholders”) setting forth the various options and instructions with respect to the Liquidation and the distribution of Direct Shareholders’ redemption proceeds. Any Direct Shareholder may elect to have redemption proceeds sent to them via check. Direct Shareholders may also elect to exchange their Fund shares into the same share class of any other fund in the AMG Funds family of funds that is open to new investors (subject to minimum initial investment requirements as described in such fund’s prospectus). Shareholders who hold their shares in the Fund through a financial intermediary should contact their financial representative to discuss their options with respect to the Liquidation and the distribution of such shareholders’ redemption proceeds.
The Fund intends to distribute its accumulated net capital gains and net investment income, if any, to shareholders of record of the Fund as of the close of business on December 13, 2023; these distributions may be taxable to shareholders who do not hold their shares in a tax-advantaged account such as an IRA or 401(k).
PLEASE KEEP THIS SUPPLEMENT FOR FUTURE REFERENCE

@hank
I stumbled across the idea that you start retirement with a low equity allocation and increase it as you age ten or so years ago, although I forgot the source. It avoids loosing 45% of your assets in a massive bear market just as you retire.
Of course this requires you to have enough income from SS a pension etc to survive early years without being forced to withdraw capital to live on.
I felt like a genius when I retired equity light in 2019, as the Covid Bear market hit. The problem now is to decide how soon and how much to increase my equity exposure. I have a much better feeling for our expenses and SS income now than I did in 2019, but domestic equities seem rather overpriced now.
A lot of people unfortunately have to take out a substantial % of their retirement account to survive.

Another excerpted comment from the thread I previously referenced, this one straight to the point(s) by the venerable "dickoncapecod":
Well, you shouldn't be surprised that the financial relationship is between you and the bank that YOU deposited money at. If it is FDIC insured (or even not) institution, you'll surely receive what you are due eventually. However, the smaller the bank and higher the rate, the more likely the bank has antiquated systems and annoyances like this occur. Sometimes it's worth actually computing the dollars and cents gained by chasing "opportunities" in the risk-free rate world versus a good old (floating rate) money market funds.
====================
I responded to Dick's post:
To dick's very worthy point about "chasing 'opportunities'":
Per Fido (bold added):
Fidelity offers a wide range of issues, rates, and maturities to help you find the certificate of deposit (CD) that fits your needs. If a fixed income security is sold or redeemed before maturity, it may be subject to substantial gains or losses. Your ability to sell a CD on the secondary market is subject to market conditions. Fidelity doesn’t decide the creditworthiness of the issuing institution.
Read: If the bank defaults on the interest or principal, it's the account holder's ultimate responsibility to do the FDIC filing.
==============================
Dick's first comment should answer the question being kicked around here.
If it's me in the OP's position, I would ask Schwab if they have a policy like Fido does related to issuing a brokerage "service request" at the 10-day mark if the interest still has not been received.
I would also obtain the best phone number possible and speak directly to a person at the bank who is directly involved/has direct knowledge of the interest payment in question.
I would NOT blow this out of proportion and would NOT start to doubt CDs.
As Dick noted, you WILL get your principal repaid timely.
As my scenario played out, I learned that this is a possible issue at the BOY and the EOY, every year.
And if there is an issue, it is usually the normal, possibly slow payment cycling related to the BOY or EOY, or there is a specific reason why the interest payment was missed.
In my case, the bank manager I spoke directly to was very helpful, NOT aware of the issue yet and thanked me for calling it to the bank's attention. She also immediately remedied the issue. She even gave me her direct phone number in the event it was not resolved.

We humans struggle with the “buy & hold” investing adage.
JP Morgan confirms your researcher’s finding:

Finally, we continue to believe stocks are the drivers of long-term capital appreciation. Bonds certainly have a greater role to play in portfolios today, but we are also reminded that stocks have outperformed bonds 85% of the time on a rolling 10-year basis since 1950.

I do believe holding a small percentage of less volatility (cash, bonds) during the withdrawal phase helps a retiree “withdrawal cash/bonds and hold a higher percentage of equities” in retirement.
Sited article:
https://jpmorgan.com/insights/outlook/market-outlook/five-considerations-for-investors-in-2024

T Rowe Price has posted more information about PRCFX on its website. Although detailed holdings are not yet available, the asset allocation is posted. Currently, it’s holding 51% in domestic bonds, 40% in domestic stocks, 5% cash, 4% foreign bonds and less than 1% in foreign stocks. Dividends will be paid monthly and capital gains annually.

I like that distribution scheme. On my larger IRA stakes I reinvest the dividends and realize the cap gains for shopping around.