Interestingly, there was a lot of discussion on ZEOIX back in 2020 as a "cash alternative". It was being compared to RPHYX in a positive manner. Coincidently, RPHYX was re-opening at that time after being closed for quite a while.
Type ZEOIX into the search bar and review all the chatter just a few years ago.

https://www.sec.gov/Archives/edgar/data/1261788/000089418923005615/zieglerfamcohedgedliquidata.htm
497 1 zieglerfamcohedgedliquidata.htm 497
Trust for Advised Portfolios
Supplement dated August 15, 2023
to the Prospectus and Statement of Additional Information
dated January 31, 2023, as previously supplemented, for the
Ziegler FAMCO Hedged Equity Fund
We wish to inform you that the Board of Trustees of Trust for Advised Portfolios has approved a plan of reorganization whereby the Ziegler FAMCO Hedged Equity Fund (the “Acquired Fund”), a series of Trust for Advised Portfolios, will reorganize into the the DCM/INNOVA High Equity Income Innovation Fund (the “Acquiring Fund”), a series of Centaur Mutual Funds Trust. The Reorganization, which is expected to be tax free to the shareholders of the Acquired Fund and which is subject to a number of closing conditions, including the approval of the Acquired Fund shareholders, will entail the transfer of all of the assets and liabilities of the Acquired Fund to the Acquiring Fund in exchange for shares of the Acquired Fund.
The Reorganization will shift investment management oversight responsibility for the Acquired Fund from Ziegler Capital Management, LLC to DCM Advisors, LLCs, Inc., an experienced provider of investment advisory services. USCA Asset Management LLC, as sub-adviser, however, will continue to provide day-to-day portfolio management as the sub-adviser to the Acquiring Fund, subject to the New USCA Sub-Advisory Agreement approval by shareholders of the Acquiring Fund.
If shareholders of the Acquired Fund approve the Reorganization, the Reorganization is expected to take effect on or about the close of September 29, 2023. At that time, the Institutional Class shares of the Acquired Fund that you currently own would, in effect, be exchanged on a tax-free basis for Institutional Class shares of the Acquiring Fund with an aggregate value equal to the aggregate value of your Acquired Fund shares.
In the next few weeks, the Acquired Fund shareholders of record will receive a proxy statement/prospectus that contains pertinent details regarding the upcoming Reorganization, including the Board’s reasons for approving the Reorganization. The proxy statement/prospectus will also provide shareholders an opportunity to vote on the proposed Reorganization.
Please retain this supplement with your Prospectus and Statement of Additional Information for future reference.

2020 Election Cost $14.4 Billion https://www.opensecrets.org/news/2021/02/2020-cycle-cost-14p4-billion-doubling-16/
State & Local Spending on 2022 Mid-Term Election Set to Top $16.7 Billion https://www.cnbc.com/2022/11/03/2022-midterm-election-spending-set-to-break-record.html
Investing 101: ”The trend is your friend.”

@sma3
Vanguard has a two-step process, as I understand it. Behind the scenes:
First, the estimate the returns over the next ten years using the Vanguard Capital Markets Model.
https://static.vgcontent.info/crp/intl/auw/docs/resources/Vanguard_VCMM_brief.pdf?20150814|091500
Second, the run the Vanguard Asset Allocation Model to create a model portfolio.
https://advisors.vanguard.com/insights/article/whats-behind-our-portfolio-construction-process
As part of the process of talking to the Advisor, I was asked what percent active and passive allocations that I favored. It was a fuzzy question, and I responded 50% active and 50% passive. I also derived with the Advisor that I wanted 50% stock and 50% bond portfolio.
The Advisor came back to me a couple of weeks later and presented a proposed portfolio. I went with that portfolio, although the literature says that clients have the option to propose different funds.
One more point, Vanguard provides you with an Advisor, and you do not have the option to select your own like at Fidelity. I did look up the credentials of the Advisor and was pleased with his knowledge and professionalism. It is an improvement over my experience from several years ago. I believe that it is part of Vanguard's effort to improve PAS.

https://www.sec.gov/Archives/edgar/data/1199046/000158064223004244/nightshares500_497.htm
497 1 nightshares500_497.htm 497
NightShares 500 1x/1.5x ETF (NSPL)
(a series of Unified Series Trust)
Primary Listing Exchange for the Fund: NYSE Arca, Inc.
Supplement dated August 14, 2023 to the
Prospectus and Statement of Additional Information (the “SAI”) dated August 14, 2022 and Summary Prospectus dated August 14, 2022
The Board of Trustees (the “Board”) of Unified Series Trust (the “Trust”) authorized an orderly liquidation of the NightShares 500 1x/1.5x ETF (the “Fund”), a series of the Trust. The Board determined on August 14, 2023 that closing and liquidating the Fund was in the best interests of the Fund and its shareholders, following a recommendation by the Fund’s investment adviser, AlphaTrAI Funds, Inc.
The last day of trading of Fund shares on NYSE Arca, Inc. (the “NYSE”) will be August 31, 2023 (the “Closing Date”), which will also be the last day the Fund will accept creation units from authorized participants. Shareholders may sell their holdings in the Fund prior to the Closing Date and customary brokerage charges may apply to these transactions. Authorized Participants may redeem baskets of shares for a pro rata portion of the Fund’s portfolio on hand through the Closing Date.
The Fund is expected to cease operations, liquidate its assets, and distribute the liquidation proceeds to shareholders of record on or about September 8, 2023 (the “Liquidation Date”).
From the Closing Date (August 31, 2023), through the Liquidation Date (September 8, 2023), shareholders may only be able to sell their shares to certain broker-dealers and there is no assurance that there will be a market for the Fund’s shares during this time period. Between the Closing Date and the Liquidation Date, the Fund will be in the process of closing down and liquidating its portfolio. This process will result in the Fund increasing its cash holdings and, as a consequence, not pursuing its investment objective.
Shareholders of record remaining on the Liquidation Date will receive cash equal to the net asset value of their shares as of that date, which will include any capital gains and dividends as of such date. The liquidating cash distribution to shareholders will be treated as payment in exchange for their shares. The liquidation of Fund shares may be treated as a taxable event. Shareholders should contact their tax adviser to discuss the income tax consequences of the liquidation. Once the distributions are complete, the Fund will terminate.
For additional information regarding the liquidation, shareholders of the Funds may call (833) 648-3383.
This Supplement provides new and additional information beyond that contained in the Summary Prospectuses, Prospectus, and Statement of Additional Information and should be read in conjunction with those documents. The Prospectus and Statement of Additional Information have been filed with the Securities and Exchange Commission and are incorporated herein by reference.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE

https://www.sec.gov/Archives/edgar/data/277751/000119312523209466/d476338d497.htm
497 1 d476338d497.htm 497
Janus Investment Fund
Janus Henderson Sustainable Multi-Asset Allocation Fund
Supplement dated August 11, 2023
to Currently Effective Prospectuses
and Statement of Additional Information
At a meeting of the Board of Trustees (the “Trustees”) of Janus Investment Fund on August 10, 2023, the Trustees approved a plan to liquidate and terminate Janus Henderson Sustainable Multi-Asset Allocation Fund (the “Fund”), with such liquidation effective on or about October 19, 2023, or at such other time as may be authorized by the Trustees (the “Liquidation Date”). The termination of the Fund is expected to occur as soon as practicable following the Liquidation Date.
Effective on or about August 11, 2023, the Fund will no longer accept investments by new shareholders. It is expected that the Fund will be required to make a distribution of any income and/or capital gains of the Fund in connection with its liquidation.
Shareholders of the Fund may redeem their shares or exchange their shares for shares of another Janus Henderson fund for which they are eligible to purchase at any time prior to the Liquidation Date. If a shareholder has not redeemed their shares as of the Liquidation Date, the shareholder’s account will generally be automatically redeemed and proceeds will be sent to the shareholder of record. For shareholders investing through a tax-deferred account, shares will be exchanged for shares of Janus Henderson Government Money Market Fund as soon as practicable following the Liquidation Date.
To prepare for the closing and liquidation of the Fund, portfolio management expects to increase the Fund’s assets held in cash and similar instruments in order to pay for Fund expenses and meet redemption requests. As a result, the Fund will likely deviate from its stated investment strategies and policies and accordingly cease being managed to meet its investment objective during its liquidation.
Additionally, any asset reductions and increases in cash and similar instruments could adversely affect the Fund’s short-term performance prior to the Liquidation Date. The Fund will incur transaction costs, such as brokerage commissions, when selling portfolio securities as a result of its plan to liquidate and terminate. These transaction costs may adversely affect performance.
Furthermore, Janus Henderson Investors US LLC has contractually agreed to waive its advisory fee, effective August 11, 2023 through the Liquidation Date.
Unless shares of the Fund are held in a tax-deferred account, the liquidation of shares held by a shareholder will generally be considered a taxable event. A shareholder should consult their personal tax adviser concerning their particular tax situation.
Shareholders may obtain additional information by contacting a Janus Henderson representative at 1-800-525-3713.

In this link https://cdn.nar.realtor/sites/default/files/documents/hai-06-2023-housing-affordability-index-2023-08-10.pdf
You can see that housing payments doubled since 2020. Affordability is way down too from 2020=169.9 to 06/2023=87.8

https://www.sec.gov/Archives/edgar/data/1500604/000119312523208135/d120852d497.htm
497 1 d120852d497.htm 497
Janus Detroit Street Trust
Janus Henderson Net Zero Transition Resources ETF
Supplement dated August 10, 2023
to Currently Effective 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 Net Zero Transition Resources ETF (“JZRO” or the “Fund”), effective on or about October 24, 2023 (the “Liquidation Date”). After the close of business on or about October 16, 2023, the Fund will no longer accept creation orders. Trading in the Fund will be halted prior to market open on or about October 20, 2023. Proceeds of the liquidation are currently scheduled to be sent to shareholders on or about October 26, 2023. 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 October 19, 2023, 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 October 20, 2023 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 October 19, 2023 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.

We know that compounding on investments made early in one’s lifetime makes a huge difference in one’s financial success. Even though I was a very low earner when I started my career in 1970, we still were able to buy a house in 1973 based on my income alone. Interest rates were around 4%. I borrowed the 5% down payment from my father. My employer, despite paying me a pittance, paid 10% into my retirement account at TIAA. With one kid, one starter home, one car, and a frugality drummed into us by our Depression-era parents, we eventually realized quite amazing gains on what we honestly did not know would become our sources of “wealth.”
In today’s economy, as @Anna aptly points out, the young couple setting out on a path similar to ours, face overwhelming obstacles. The price of a starter home, in almost any part of the country, now presents the biggest barrier, to say nothing of the huge down payment. What employer these days would be paying 10% of base salary into retirement? It seems trite to say that our kids won’t do as well as their parents, a complete reversal of what had been accepted wisdom about the American economy. The American Dream, for a great many of our brethren, is nothing more than a chimera. The participants on MFO, IMHO, have a whole lot to be grateful for. I’m not sure that my kids, who are between 25 and 43, will be able to feel secure in their retirements.

The Fed is stressing capital requirements. But that hasn't been the real problem.
The problem of unstable deposits in this smartphone & Internet-rumors era is not really quantifiable. Bank runs now develop in hours/days, not months.
One can generally say that brokered deposits may flee before the other deposits. The Fed hasn't developed good indicators for this yet. I think that it is now requiring disclosure of % of total deposits that are brokered deposits. BTW, brokered deposits are quite expensive for the banks (they have to pay platform fees to list brokered deposits, and then you see high rates that are net of those hidden costs). There is something wrong with a bank that relies primarily on brokered deposits.
The Fed is also using some ad-hoc liquidity tests.

Following are excerpts, heavily edited for brevity, from a current Wall Street Journal report:

Moody’s [downgraded] the credit ratings of 10 banks and put others under review, or giving their ratings a negative outlook. Credit ratings are very important for banks, which fund themselves partly with deposits, but also by selling bonds.
But the ratings moves are a reminder that many of the core issues revealed by the crisis this year—such as the risks posed by higher interest rates—are only beginning to be addressed. And one risk that investors can’t afford to ignore is that longer-term interest rates could keep pushing higher, even as the Federal Reserve looks to be pausing its rate hikes.
However, Moody’s also wrote that it saw some key issues unaddressed by the Fed’s thousand-plus-page proposal.
Moody’s analysts acknowledged in their Monday report that the Fed’s tougher capital requirements for banks with over $100 billion in assets should be positive for their credit risk, [but also said] that interest-rate risk is “significantly more complicated” than that. For example, there is the diminished value of loans like fixed-rate mortgages—a huge problem for First Republic, for one. In its analysis, Moody’s applied a 15% haircut to the value of banks’ outstanding residential mortgages.
The bond market’s focus on worst-case scenarios may explain the gap between the performance of many lenders’ debts versus their shares. In theory, higher capital requirements coming for many banks ought to provide more comfort for bondholders, who focus more on existential risk, than shareholders, who should be worried about the drag on banks’ returns on equity from higher equity levels.
But this security cushion isn’t what markets appear to be reflecting. Across regional banks with A ratings, though their bonds have rallied in recent weeks, investors are still demanding a lot more return to own them than they were prior to SVB’s collapse. The gap between those banks’ senior bond yields versus Treasurys was still about 50% wider than on March 8 as of Monday.
It is a relief that banks have found a number of ways to stabilize their earnings and rebuild some capital, but bond market jitters show there is still a lot more work to be done.

Note: text emphasis in above was added.

Moody's downgraded 10 banks (M&T, etc), placed 6 under review (Northern Trust, BoNY/Mellon, etc), and changed the outlook to negative for 11 banks (Capital One is in this category; others are PNC, Ally, etc).
Moody's concerns are real estate/CRE exposures, deposit flight, debt/card delinquencies. It is more like regional bank industry downgrade. I tried to get details from Moody's site but it requires login.
https://www.cbsnews.com/news/moodys-downgrades-banks-list-of-downgraded-banks/

It got my attention when it noted that Capital One is facing a downgrade to Negative in its rating. I have been a Capital One customer for a long time, heavily tied to both my automatic deposit and payment details, and with accounts in Joint checking, savings, and credit card activities. Makes my head hurt just thinking about the disruptions I would experience if this bank is not stable.

Thank you @Old_Joe for adding this important linked information. Hopefully, we're not headed towards another crazy town scenario with real estate and associated loans.
ADD: Today, August 8 found many IG bond areas to react more normally to the small sell down in equities; being a yield drop, thus pushing up pricing which = gains in these bond holdings. Also, that some more defensive equity areas as with healthcare found gains today, too.

And with that in mind, bond funds will make a lot more money than CDs.
That's the beauty of owning MM on the way up, and owning bond funds when rates go down. After rates stabilize, CDs still will not be great. The idea is to make a lot more money (several %) on the big moves and disregard very small gains (0.2-0.4%) for several months with a lot more effort and gates.
If you buy a longer term brokered CD and rates fall, the value of the CD will rise and you can sell it for a profit. But you won't. You'll just keep it and collect that higher coupon until it matures at the exact price you paid.
Same with bond funds, except for the fact that they are comprised of various maturities, so there is never a fixed future date at which you know you will get your entire investment back.
I guess I'm really just talking about a psychological comfort. If you're wrong, and rates keep going up, it's a lot more pleasant to accept your now sub-par interest payments month after month than it is to take an actual loss on the amount you invested.

Not too long ago we were all talking in a thread about "the market" going sideways for a decade, or more.
Now we're being told that we should all invest in the 500, like Buffet "advises" his wife to do when he dies. Which sort of misses the point that she is likely to inherit a crap-ton of Berkshire shares, and heaven knows what else. Who is going to tell her to sell all that so she can plunk it all down on the 500?
Well. I don't have those resources. Sometimes the goal of investing is not to "beat the market" but to preserve capital that can be put to work to sustain a certain level of comfort in retirement.
As the man said after he fell from the roof:

@dtconroe: thanks for your very clearly expounded review of your situation and how your current portfolio evolved from something quite different from what you are holding/managing today. I had forgotten what you reported doing to your portfolio last year. I think you did exceedingly well to preserve your capital; wouldst that I had done the same instead of screwing around with the likes of REMIX. You could have a second career as a market timer!!
You are absolutely right to point out that individual circumstances vary so much that what one member may be doing can have little relevance to what another does. I can leave my TIAA portfolio for passive accumulation, the result of generous employer and my belated contributions over a 42-year career. Our Roths and joint brokerage accounts, OTOH, I can afford to manage as actively as I choose to, even at the age of 81. Our Honda Accord hybrid gets better mileage than what I get out of my hands-on approach to investing, if you don't mind a mixed metaphor. The Accord rarely offers thrilling acceleration while my occasional pedal-to-the-metal aggressive buys might produce squat. The Accord, however always provides a smooth ride.

To me, the point isn’t that CD yields can be marginally higher than money markets. It’s that interest rates will start dropping at some point, and then MM yields will drop quickly. With CDs, you can lock in high yields for as long as 10 years, and you will continue getting those yields even if interest rates drop (assuming you bought non-callable CDs).

+1
And with that in mind, bond funds will make a lot more money than CDs.
That's the beauty of owning MM on the way up, and owning bond funds when rates go down. After rates stabilize, CDs still will not be great. The idea is to make a lot more money (several %) on the big moves and disregard very small gains (0.2-0.4%) for several months with a lot more effort and gates.
So, how do you figure out the above? use the following ideas
1) Listen to the Fed chair, not the experts
2) Pay attention to CME FedWatch Tool(https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html). It tells in real time where rates will be in the next several months, it's OK to be late, never be too early.

We bought a retirement home on Cape Cod in a spur of the moment decision, but we were smart enough to buy one less than 20 years old, built by a guy who over engineered everything ( It was his fifth personal build). BR on first floor, etc. IF we took more time we might have gotten something with a view etc, but we love the quiet neighborhood and new friends.
We passed on new dog, because my daughter moved here too and has two lovely dogs we use to get dog fix every several days. As we helped her buy her house, she frequently acknowledges that she will help us when we can't drive etc. Not including travel expenses, our income needs so far have been met with SS and dividends, even in high tax Massachusetts ( realestate taxes up 30% since 2018)
I became convinced that going into retirement is not the best time to have large equity exposure, given risk of serious bear market, so in 2015 to 2018 I cut stocks back and now am around 30%. The fact that rates shot up has made that decision easier obviously.
I think there is more downside ahead than upside, at least for US market and I don't mind making 5 to 6% rather than 20% if it means avoiding a 40 % loss in capital.
This sorta makes up for the fact that in CT for the last 30 years our house lost us lots of money, my salary was stagnant and we were taxed to the max.
But you can't focus on the past, and we are grateful we are both healthy, our kids are generally happy and educated and employed, although one is 1200 miles away.