C*******O
发帖数: 147 | 1 其构成比如:
Vanguard Total Stock Mkt Idx Inv 60%
Vanguard Total Intl Stock Index Inv 30%
Vanguard Total Bond Market II Idx Inv 10%
那跟我自己按同等比例买以上三个INDEX有什么区别？管理费和DIVIDEND等有差别吗？ |
s********n
发帖数: 1962 | 2 应该是管理费低一些，你可以打电话问客服。
【在 C*******O 的大作中提到】
: 其构成比如:
: Vanguard Total Stock Mkt Idx Inv 60%
: Vanguard Total Intl Stock Index Inv 30%
: Vanguard Total Bond Market II Idx Inv 10%
: 那跟我自己按同等比例买以上三个INDEX有什么区别？管理费和DIVIDEND等有差别吗？
|
j****y
发帖数: 1714 | 3 Mostly the same. No difference.
But if you buy more than $10k for any individual fund. You may get
better deal than the combined
fund.
http://www.bogleheads.org/wiki/Vanguard_Target_Retirement_Funds
TR funds are cheap by any reasonable standard, with Vanguard Target
Retirement Fund expense ratios varying from 0.18% to 0.19%. In fiscal
year 2008, the average peer group expense ratios ranged from 1.11% to
1.32%. Other mutual fund companies' Target Retirement Fund expense
ratios may include an additional expense ratio on the Target Retirement
Fund itself, in addition to the expense ratios of the underlying funds.
Vanguard does not charge this type of fee, but investors using Target
Retirement Funds in their workplace plan from another mutual fund
company should look in the prospectus for this possible extra expense.
Despite the already low expense ratios, Vanguard could create even
cheaper versions. The underlying holdings are presently all Investor
Class, but with the exception of Prime Money Market, all the funds
utilized already have Admiral and Institutional share classes. Admiral
Class TR Funds would serve individual shareholders with substantial
balances, whereas Institutional Class TR Funds would serve workplace
retirement plans. On the other hand, Vanguard incurs substantial costs
in creating and maintaining the TR vehicles. These costs are not passed
on directly to their shareholders, and the absence of additional share
classes could be viewed as a sort of reimbursement. |
m*****n
发帖数: 5611 | 4 vanguard automatically rebalance for you everyday, so you buy low and sell
high on a daily basis. most individuals can never understand the importance
of rebalancing and won't bother doing it even once a year. statistically
speaking, diy portfolios with same initial allocation but not enough
rebalancing are losers.
【在 C*******O 的大作中提到】
: 其构成比如:
: Vanguard Total Stock Mkt Idx Inv 60%
: Vanguard Total Intl Stock Index Inv 30%
: Vanguard Total Bond Market II Idx Inv 10%
: 那跟我自己按同等比例买以上三个INDEX有什么区别？管理费和DIVIDEND等有差别吗？
|
C*******O
发帖数: 147 | 5 Thanks all for your replies to my question. |
C*******O
发帖数: 147 | 6 But the performance of TR fund, for example 2045, is not impressive to me.
Also, re-balancing to what stock/bond ratio is another question. No re-
balancing is equivalent to re-balancing to a dynamic stock/bond ratio. Of
course, when the ratio is too big or small, a real re-balancing is due.
importance
【在 m*****n 的大作中提到】
: vanguard automatically rebalance for you everyday, so you buy low and sell
: high on a daily basis. most individuals can never understand the importance
: of rebalancing and won't bother doing it even once a year. statistically
: speaking, diy portfolios with same initial allocation but not enough
: rebalancing are losers.
|
b****n
发帖数: 993 | 7 最优化的rebalance的方法到底是什么？有确凿的证据表明每天rebalance会带来更好的
回报吗？我怎么觉得每天rebalance会降低回报。
importance
【在 m*****n 的大作中提到】
: vanguard automatically rebalance for you everyday, so you buy low and sell
: high on a daily basis. most individuals can never understand the importance
: of rebalancing and won't bother doing it even once a year. statistically
: speaking, diy portfolios with same initial allocation but not enough
: rebalancing are losers.
|
d**a
发帖数: 1030 | 8 降低回报的原因是因为交易被收费么？
【在 b****n 的大作中提到】
: 最优化的rebalance的方法到底是什么？有确凿的证据表明每天rebalance会带来更好的
: 回报吗？我怎么觉得每天rebalance会降低回报。
:
: importance
|
m*****n
发帖数: 5611 | 9 "most individuals can never understand..."
【在 b****n 的大作中提到】
: 最优化的rebalance的方法到底是什么？有确凿的证据表明每天rebalance会带来更好的
: 回报吗？我怎么觉得每天rebalance会降低回报。
:
: importance
|
c*******e
发帖数: 8624 | 10 quarterly to annually
【在 b****n 的大作中提到】
: 最优化的rebalance的方法到底是什么？有确凿的证据表明每天rebalance会带来更好的
: 回报吗？我怎么觉得每天rebalance会降低回报。
:
: importance
|
|
|
b****n
发帖数: 993 | 11 大多数人是不明白rebalance的重要性。但是我前面提出的问题是rebalance的频繁程度
。记得读过一些这方面的文章，过于频繁地rebalance并不好。而且这一点应该很容易
验证，只要把用历史数据做一个portfolio，back test一下就行了。
【在 m*****n 的大作中提到】
: "most individuals can never understand..."
|
n****u
发帖数: 229 | 12 be careful of these target funds.
I think all of these target funds (different companies, same retirement year
) are toooo aggressive.
if u r 30 yr old and u pick these funds, all of them are 80% to 90% in stock.
Correct me if I am wrong, vanguard changed its target funds' portfolio.
Initially it was 10% bond, 90% domestic stock, later on it added Inl stock.
I am not saying that adding Inl stock is bad idea (though I believe it's not
good), changing portfolio is not a good sign. Who knows when vanguard adds
REIT in it, or Intl Bond index?
I would rather pick what I want.
However if u have less 3000 to start, vanguard target funds are good start.
$1000 min and low ER. But u can not tolerate risk, u may pick retirement
funds with 60(stock)/40(bond).
personally I invest $2000 in target income (VTINX). Yeah, it's the money
from my in-laws. |
C*******O
发帖数: 147 | 13 Yes, the allocation is very aggressive for my TR fund, and that's why I
decided to try to make my own target fund with 60-70/40-30 stock/bond. Int'l
stock index seems standard in the target or similar funds.
year
stock.
not
adds
【在 n****u 的大作中提到】
: be careful of these target funds.
: I think all of these target funds (different companies, same retirement year
: ) are toooo aggressive.
: if u r 30 yr old and u pick these funds, all of them are 80% to 90% in stock.
: Correct me if I am wrong, vanguard changed its target funds' portfolio.
: Initially it was 10% bond, 90% domestic stock, later on it added Inl stock.
: I am not saying that adding Inl stock is bad idea (though I believe it's not
: good), changing portfolio is not a good sign. Who knows when vanguard adds
: REIT in it, or Intl Bond index?
: I would rather pick what I want.
|
n****u
发帖数: 229 | 14 何必这么麻烦
你如果觉得60stock/40bond对你口味，你可以选VBINX(Vanguard Balance Index)，或
者是Life Strategy Moderate Growth.
如果你偏好非Index的， 你可以选VGSTX(vanguard star)或者VWELX
如果你喜欢40stock/60bond，可以选VWINX(非Index mutuan Fund)或者Life Strategy
Conservative Growth.
'l
【在 C*******O 的大作中提到】
: Yes, the allocation is very aggressive for my TR fund, and that's why I
: decided to try to make my own target fund with 60-70/40-30 stock/bond. Int'l
: stock index seems standard in the target or similar funds.
:
: year
: stock.
: not
: adds
|
C*******O
发帖数: 147 | 15 多谢指点,麻烦也是为了HAVE FUN阿.
Strategy
【在 n****u 的大作中提到】
: 何必这么麻烦
: 你如果觉得60stock/40bond对你口味，你可以选VBINX(Vanguard Balance Index)，或
: 者是Life Strategy Moderate Growth.
: 如果你偏好非Index的， 你可以选VGSTX(vanguard star)或者VWELX
: 如果你喜欢40stock/60bond，可以选VWINX(非Index mutuan Fund)或者Life Strategy
: Conservative Growth.
:
: 'l
|
j****y
发帖数: 1714 | 16 Choose VANGUARD TARGET RETIREMENT FUNDs based on the risk level you are
comfortable (bond/stock ratio), not by the labeled target retire years.
Switch to a new fund with the desired ratio if the bond/stock ratio of the
chosen fund changes. |
