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Wellesly clone in Fidelity or Schwab accounts
Old 09-10-2013, 04:57 PM   #1
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Wellesly clone in Fidelity or Schwab accounts

I have a relative who has funds in Fidelity and wants to invest for some income and a bit of growth. He sounds like a Wellesly kind of guy, but won't move to Vanguard at this time. (I have to accept this for now.) Does anybody know of a fund, similar to Vanguard Wellesly, that is available through Fidelity? No load please. It does not have to be a Fidelity fund, just one available through Fidelity and not subject to sales charges.


I realize the fees may be higher than Vanguard, but if they are not to out of line, it would work.

On more thing.... The Fidelity website seems to not respond very quickly to my searches. I get the spinning doughnut for a long long time. Is this normal, or just me?
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Old 09-10-2013, 05:47 PM   #2
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Just buy Wellesley at Fidelity. There is no load.
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Old 09-10-2013, 05:48 PM   #3
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The most relevant Fidelity funds I've either had or have considered include:

FFNOX is 85%/15%
FBALX and FPURX are both 70%/30%

But they're really not comparable ... not even to Vanguard Wellington, and surely not Vanguard Wellesley.
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Old 09-10-2013, 06:36 PM   #4
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T

But they're really not comparable ... not even to Vanguard Wellington, and surely not Vanguard Wellesley.
That thought has occurred to me. PSSSST... Wellesley is a pretty good fund and probably worth the commission to buy and sell it.

The other possibility is a good bond fund. I am leery of going out to long though. Someday my prediction of higher interest rates will have to come true.
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Old 09-10-2013, 07:32 PM   #5
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The Fidelity website seems to not respond very quickly to my searches. I get the spinning doughnut for a long long time. Is this normal, or just me?
Not normal for me -- of course, I'm on a Mac so I get the spinning beachball instead....
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Old 09-10-2013, 07:32 PM   #6
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For Schwab, have a look at GLRBX, GRSPX or EXDAX. They won't get close to VWINX on ER but the performance is similar.
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Old 09-10-2013, 08:36 PM   #7
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Just buy Wellesley at Fidelity. There is no load.
We bought Wellesley in a Fido account, and it cost $75 to go in. We were rolling over a large lump sum, and there is no charge to withdraw, so we bit the bullet and did it. Easier to manage with other Fido stuff we have in that account.
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Old 09-11-2013, 04:01 AM   #8
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You can also buy Vanguard funds for $75 at Schwab, and if the $75 is over large purchase $25K and you hold it for a long time it is not a a big deal. However, the big disadvantage is you can't buy Admiral funds at least as Schwab. I bought $200K worth of Vanguard GNMA at Schwab at the time they didn't have an Admiral for GNMA. But several years later they added one after I procrastinated and had my Vanguard investor shares moved to Vanguard and then converted to Admiral shares all at no cost. At $200/year in saving it was definitely worth the modest amount of hassle.
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Old 09-11-2013, 12:26 PM   #9
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A couple of possibilities:
Look at some etf equivalents-cost 8/transaction at Fido. I use the mutual fund/etf converter at ETF Alternatives to VWINX - Vanguard Wellesley Income Mutual Fund
Both CVY and DHS have a better 3 year performance record than VWINX but that could be due to higher equity allocation. Expense ratios are reasonable. There are several other ETF to be considered at the list in the link.
If they are willing to take on a moderate allocation fund vs the Conservative of VWINX, look at Buffalo Income (BUFBX)--a 5 star fund but expense ratios a bit steep but still less than 1.00 (.82 last I looked). No load at Fido or commission. Beats the pants off VWINX for all periods but you do have a bit more volatility.
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Old 09-11-2013, 11:51 PM   #10
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Fidelity Puritan? The yield is less than Wellington, however.
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Old 09-12-2013, 08:32 PM   #11
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So many good ideas! Thanks for the help.
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