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Post by Norbert on Jul 9, 2023 7:08:15 GMT
Going back to 2009, PIMIX and VWEAX are neck-and-neck. Surprisingly, VWINX (Wellesley) lags them both.
Norbert,...Not a surprise, as I posted on M* several years ago, about that time, that in my assessment, Wellesley would lag many bond and allocation funds going forward. Took a lot of forum heat over this VWINX . But like you Norbert, would rather be right, than lucky. Disclosure: Norbert once thought he had made a mistake a few years ago, but upon re-checking, he had not! R48 R48, Yes, I remember that. You were a bit early, but Wellesley eventually underperformed as you predicted. But, it hasn't been just the IG bond overweight that was the problem; it was also the heavy value tilt with equities. You can always count on me to explain the market action once I see it in the rear-view mirror. N.
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Post by yogibearbull on Jul 9, 2023 12:20:39 GMT
steadyeddy, Pimco PIMIX is a go anywhere fund. Around the GFC, it was almost entirely in the MBS (private). Now that is hard to do because of its size. At some point it may be heavily in HYs or EMs. OSTIX is another multi that has been heavy in HY as long as I have watched it - M* just calls in HY regardless of what the fund literature says. If you want a tamer multisector, that is Fido FADMX that keeps representation in all multi areas but tinkers with them some. Both approaches seem to work commercially.
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Post by steadyeddy on Jul 9, 2023 15:26:04 GMT
steadyeddy , Pimco PIMIX is a go anywhere fund. Around the GFC, it was almost entirely in the MBS (private). Now that is hard to do because of its size. At some point it may be heavily in HYs or EMs. OSTIX is another multi that has been heavy in HY as long as I have watched it - M* just calls in HY regardless of what the fund literature says. If you want a tamer multisector, that is Fido FADMX that keeps representation in all multi areas but tinkers with them some. Both approaches seem to work commercially. yogibearbull, FSIAX is the oldest class of FADMX and I attached a PV comparison of FSIAX & PIMIX
Not trying to argue but seeking to understand. Over 15+ years PIMIX has had better stats all around. Is there a strong reason to believe PIMIX would not be able to deliver such metrics going forward?
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Post by yogibearbull on Jul 9, 2023 16:10:43 GMT
steadyeddy , Pimco PIMIX is a go anywhere fund. Around the GFC, it was almost entirely in the MBS (private). Now that is hard to do because of its size. At some point it may be heavily in HYs or EMs. OSTIX is another multi that has been heavy in HY as long as I have watched it - M* just calls in HY regardless of what the fund literature says. If you want a tamer multisector, that is Fido FADMX that keeps representation in all multi areas but tinkers with them some. Both approaches seem to work commercially. yogibearbull , FSIAX is the oldest class of FADMX and I attached a PV comparison of FSIAX & PIMIX
Not trying to argue but seeking to understand. Over 15+ years PIMIX has had better stats all around. Is there a strong reason to believe PIMIX would not be able to deliver such metrics going forward? Of the 2, I have only PIMIX now. I am not bothered by its huge AUM. I am waiting for Ivascyn/Murata to pull another rabbit out of their hats. Note that much of its outperformace came from GFC-era private MBS that took a while to play out when those GFC era private mortgages matured. In those times Ivascyn hired about 200 mortgage analysts to go over the piles of mortgage paperwork - an unheard of practice, just calculate the cost/payroll involved. Recent performance have been comparable.
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Post by steadyeddy on Jul 9, 2023 16:14:18 GMT
yogibearbull , FSIAX is the oldest class of FADMX and I attached a PV comparison of FSIAX & PIMIX
Not trying to argue but seeking to understand. Over 15+ years PIMIX has had better stats all around. Is there a strong reason to believe PIMIX would not be able to deliver such metrics going forward? Of the 2, I have only PIMIX now. I am not bothered by its huge AUM. I am waiting for Ivascyn/Murata to pull another rabbit out of their hats. Note that much of its outperformace came from GFC-era private MBS that took a while to play out when those GFC era private mortgages matured. In those times Ivascyn hired about 200 mortgage analysts to go over the piles of mortgage paperwork - an unheard of practice, just calculate the cost/payroll involved. Recent performance have been comparable. Me too - PIMIX is my only IT bond fund ... I disposed off other IT bond ETFs/funds in favor of PIMIX. And accumulating LT bond ETFs.
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Post by retiredat48 on Jul 12, 2023 15:10:53 GMT
OK, kiss it goodbye!
That is, once again it appears when the LT treasury bonds touch 4%, they gain buyers locking in 7-10 years of yields, raising bond prices.
Kiss 4% goodbye for awhile.
R48
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