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Most Recent Articles
News
November 24, 2014

Vanguard Goes Ultra-Short

It's not going to be a money market fund, but it also isn't going to be your typical short-term bond fund either. Vanguard's soon-to-be launched Ultra-Short-Term Bond fund targets the space in between. So what should investors expect? Read More »

Hotline
November 20, 2014

Record Highs and Retail Swagger

The stock market is humming—at home, anyway. The Dow Jones Industrial Average has hit 27 new highs this year, including today's. The S&P 500 index has hit even more highs this year, rising to records 44 times. And many of those new highs have come over the past couple of weeks. Yes, the biggest U.S. companies are struttin' their stuff, whereas the smaller fare have tumbled a bit from the highs set during the first quarter. That's why you're seeing funds like Dividend Appreciation Index, up 2.2% this month, and High-Dividend Yield Index, up 2.1%, leading the charge in November. Read More »

Issue
November 3, 2014

Tale of Two Months

October was a tale of two months. During the first half the S&P 500 dropped 7.7% from 1972 on September 30 to an intra-day low of 1820 on October 15. Then stocks reversed course, gaining 10.8% and bringing the S&P 500 to a new high at month-end. In a nutshell, volatility has been rising. But that volatility is completely normal. We've gone more than three years without a 10% or greater setback—though we came close to one a few weeks ago. Historically, 10% drawdowns occur about once every 18 months, on average. We are due.

And now that we're nearing the end of the year, many of us are also due for capital gains distributions from the funds we hold. In this month's issue, Research Director Jeff DeMaso and I have an early preview of where the potential big ones lie. Plus, we've got an update on Tech Winter, the period from November through February where tech-heavy funds at Vanguard show seasonal strength, and the final word on our October Hot Hands fund as promised in last week's Hotline. And by the way, for those of you who responded to our employer-sponsored plan survey, we've got an update for you. In this month's 401(k) Focus, we take a look at the FedEx 401(k) plan and how it's changed since I first covered it in 1994. Even if you don't work at FedEx, I think you'll get some valuable lessons out of it. And the same goes for the experience one reader's wife had after transferring an IRA with a closed fund in it to Vanguard. It took months, but persistence—and, I'm guessing, a shove from me—got Vanguard to come through. Read More »

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"America's leading expert on investing in Vanguard funds"

Daniel P. Wiener is editor of The Independent Adviser for Vanguard Investors, a monthly newsletter that keeps abreast of recent developments at Vanguard, and the annual FFSA Independent Guide to the Vanguard Funds. Through his newsletter and guide book, Dan helps tens of thousands of Vanguard investors choose wisely among more than 100 Vanguard mutual funds. The Adviser is a five-time winner of the Newsletter Publishers Foundation's Editorial Excellence Award. View More »

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Model Portfolio Performance
Models May YTD
Growth 2.0% 16.0%
Conservative Growth 1.6% 14.4%
Income 0.2% 9.1%
Growth Index 1.6% 14.4%
The average
Vanguard investor
0.1% 7.2%
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