Hi, and sorry if this is a duplication of prior post(s) but i continue to be confounded and frustrated with my 45/55 AA portfolio performance, specifically the fact that ultra-short and short bond funds - which are my largest FI positions - continue to move "in tandem" with equities - and, lose NAV...just not as extremely as last year. Yes I have shifted some of my FI to MM funds for the safe 4-5% return..but maybe not enough? I have an hourly/occasional FA who bills me for questions and have raised this issue multiple times but he has only suggested reducing equity a bit and --adding proceeds to 1-3 yr Treasury or MM, plus reiterating that DIV returns are improving on bond funds. I am in fact on track to realize about 80k in interest/div. income for '23, an improvement over last year so, no complaints on that. However while I try to ignore the day to day, I can't help feeling like this is simply a "going nowhere" PF - largely due to bond funds selected for relatively low sensitivity to rising rates or credit issues only showing further downside this year and are certainly nowhere close to making up for last year's losses, collectively. Above all, seeing these 'ballast' vehicles move down significantly "together" with equities on down days frankly angers me more and more. I'm sure there may be some macro picture i'm not appreciating fully about this but with multiple positive economic signals, the volatility seems tied to market manipulation- politically motivated or otherwise.
Happy to get any thoughts about when this 'trend' may turn around. or from others in the same boat who share my sentiments. At least i can get a reality check if i'm "not the only one" experiencing this frustration in what is traditionally considered a defensively allocated PF. Thanks for letting me vent and don't beat me up if i'm missing 'the obvious' but it just isn't all 'adding up' logically on many levels. Or maybe..it's just a balanced portfolio reflecting a flat "going nowhere" market for a year or two.