New Vanguard Core Bond Fund
As usual, the Oblivious Investor provides great insights:
Evaluating Vanguard’s New Core Bond Fund
His bottom line:
In other words, if I were to buy the fund, it would be as a low-cost way to bet on the managers’ ability to exclude specific bonds that will underperform (e.g., due to credit troubles) rather than as a way to bet on somebody’s ability to predict interest rates. But personally, I’d prefer to just stick with my index funds rather than make any such bets.
"Wealth consists not in having great possessions, but in having few wants."