VAAPX is a timing fund using indexes and cash - using quant methods to vary the mix. It's 25% of our Lifestrategy mod and cons holdings. Sooner or later they will get it wrong (-15+% in 2002). So far it's been ok for us - but I keep looking at the the Target Retirement and also at Wellesley. Our current pensions plus dividend stocks means Lifestrategy sits in reserve.
If I had to pick a long term (20-30 yrs) backup fund(tax deferred) at todays market valuations
I dunno - maybe Asset Allocation - I'm leaning toward old school large cap value. Wellesley, Wellington, I believe Dodge and Cox are closed - hence my fear of fishing in fished out waters.
Given that my bell weather - Vanguard Balanced Index has an SEC yield of 2.55% nowadays -
I've got a modest amount to bump up the SO's income stream (she nixed ind. stocks) - my heart wants Wellesley but my other brain is leaning toward Target Retirement 2005 or income (10-20 yr planning span).
Sooo - can you define in your mind - what Standard Deviation, SEC yield, planning span you are looking at. It might help your decision making.