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Participant ○

Re: 2020 - bond funds analysis

The thread has gone a bit quiet . An update on my portfolio . I have consolidated my holding down to:

Before Tax Accounts  - 100 % IOFIX

Taxable - 25% IOFIX And 75% NHMRX 

So far so good . Up 2.25% for the year across accounts with only bond OEF. 

The  sale of my company is happening end of March  with proceeds to follow shortly after. Will invest similarly . Retirement in Asia 1 year + away . 

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Valued Contributor

Re: 2020 - bond funds analysis

Looks good.  YTD...IOFIX +2.24...NHMRX 3%.   Shhh don't tell anybody.  They will claim you made it up  :-)

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Participant ○

Re: 2020 - bond funds analysis

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Explorer ○

Re: 2020 - bond funds analysis

@Sortatino2 Can you advise where you purchase NHMRX?

I check with both Fidelity and Schwab. Only NHMAX is available for retail investors.

NHMRX are for advisory fund, not sure what qualify exactly.

Thanks

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Valued Contributor

Re: 2020 - bond funds analysis

Mid-month review of my 2 favorite’s categories

Multisector+NonTrad-...for SD<1 =SEMMX,ANGLX,DHEIX...For SD<1.5=IISIX,TSIIX…For SD<2=VCFIX,/VCFAX,JMUIX/JMUTX,PIMIX... for SD<2.7=IOFIX,PUCZX,DPFNX,JMSIX

HY Muni-...For SD<2=NVHIX,WHYIX,ISHYX...For SD<3=NHMRX/NHMAX,GHYIX/GHYAX,MMHIX/MMHAX

=========================

YTD Multi...M* Multi 1.3...DHEIX 0.8...SEMMX 1.5%...PIMIX 1.3...JMSIX 1.2...VCFAX 1.5%...JMUTX 1.6...PUCZX 1.75...DPFNX 2%...IOFIX 2.4%

YTD HY Munis...M* HY Muni 2%...NVHAX 1.9%...GHYAX 2.4%...PHMIX 2.25%...OPTAX 2.55...ORNAX 2.95...NHMAX 3.1%

Comments:

MULTI:  DHEIX-great for ST duration low SD mostly IG bonds.  SEMMX-excellent for low SD.  JMUTX+PUCZX doing better than the average. DPFNX shines. IOFIX in the lead.

HY Munis: NVHAX-excellent for shorter term duration.  My 3 favorites(OPTAX,ORNAX,NHMAX) are already ahead and NHMAX defies gravity.

The above is pretty much what I expected. I own only 2 funds, pretty easy to guess which ones  :-)

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Participant ○

Re: 2020 - bond funds analysis

Same two that make up my portfolio : NHMRX and IOFIX. Another nice day of 0.08 for IOFIX and 0.11 for NHMRX including accrual . Going to keep holding until they stop working . 

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Valued Contributor

Re: 2020 - bond funds analysis

Another great day for HY Munis.
NHMAX +0.3%...ORNAX 0.4%...OPTAX 0.9%(looks suspicious).

YTD estimation...NHMAX 3.4%...ORNAX 3.3%...OPTAX 3.4%

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Participant ○

Re: 2020 - bond funds analysis

and another great day for IOFIX up 0.15% and YTD up 2.54% 



 

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Participant ○

Re: 2020 - bond funds analysis

It would be interesting to see which of the fixed income funds we follow (own) are trading above or near par.

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Participant ○

Re: 2020 - bond funds analysis

FD,

Thanks a lot for the analysis. I am 50% High Yield Muni in Taxable portfolio and 40% High Yield in IRA. 

SRT

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Valued Contributor

Re: 2020 - bond funds analysis

(link)

"Many bond benchmarks have gotten riskier in recent years, but that isn’t the case in the muni market.

We recently highlighted how the credit quality of the key corporate and aggregate bond benchmarks has deteriorated while their interest rate sensitivity has increased. This matters for investors who hold passive index-tracking investments, like exchange-traded funds (ETFs), that track those indices, because they may be taking on more risk than they originally intended.

These trends are different in the municipal bond market. Despite headline issues like Puerto Rico’s debt negotiations, Detroit’s bankruptcy, or Illinois’ struggles with their large unfunded pension liabilities, risks in the muni market remain low. As a result, municipal bond mutual funds and ETFs can be an appropriate investment option for investors looking to gain exposure to the muni market."

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Contributor ○○○

Re: 2020 - bond funds analysis

On the "Quote" page hit the "Portfolio" tab. On the right side under "Fixed Income Measures" the "Weighted Price" tells you.


@Anitya wrote:

It would be interesting to see which of the fixed income funds we follow (own) are trading above or near par.


 

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Participant ○○

Re: 2020 - bond funds analysis

Higher than average dividends from taxable bond mutual funds come from lower quality, longer duration, leverage, or all of the above.  With muni funds, it is known that somewhat longer duration is okay, but lower quality of higher payers is still a risk.  As long as the credit environment is stable, no problem.

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Valued Contributor

Re: 2020 - bond funds analysis

The 10 year treasury is down again.  TLT (20+ treasury ETF) is at all-time high.  That's a good time in bond land  :-)

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Participant ○○

Re: 2020 - bond funds analysis

Bank loans are screaming today. SPFLX up .04 or 0.41%. Let's see what EIFAX does today.

Bonds are rocking in general as 10 yr is sinking and good for the bond land!

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Valued Contributor

Re: 2020 - bond funds analysis


@RainGater wrote:

Bank loans are screaming today. SPFLX up .04 or 0.41%. Let's see what EIFAX does today.

Bonds are rocking in general as 10 yr is sinking and good for the bond land!


I have a hard time believing in that since I didn't see it during trading hours.  SPFLX is not a typical BL.  See a (chart)

Rates are going down and why I don't want to hold BL.  EIFAX,FFRHX made nothing today.

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Participant ○○

Re: 2020 - bond funds analysis


@FD1001 wrote:

I have a hard time believing in that since I didn't see it during trading hours.  SPFLX is not a typical BL.  See a (chart)

Rates are going down and why I don't want to hold BL.  EIFAX,FFRHX made nothing today.


Yes, they corrected it now. It showed up in ThinkOrSwim when I posted it. I still see it as a high for the day (there is nothing like a high or low for the mutual funds) but they corrected it with no change for today. With rates down drastically, I was hoping both SPFLX/EIFAX will take a hit but no change.

image.png

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Participant ○

Re: 2020 - bond funds analysis

But something did go up over 0.4 percent today . NHMRX up 0.43%. Also,  IOFIX up 0.15%. These two are absolutely on fire! I am up over 3% ytd having held only Bond OEF. Continue to be only in two funds …NHMRX and IOFIX. 

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Participant ○

Re: 2020 - bond funds analysis

Lily 

I buy NHMRX at interactive brokers. Just saw you message . 

S2

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Contributor ○○○

Re: 2020 - bond funds analysis

SPFLX quote page shows the SEC yield as 6.49%. Seems very high. 

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